Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1894-10-16
CINCINNATI SIN R. K.
The Fight for Final Control Of the
Property.
RICHMOND TERMINAL COMPANY
II. r1ort Under the New Name Given IL
TO Take Charge OF Things
Erlanger.

CINCINNATI. october lo'-ht ~ 'i'SN
this morning the principals IN the nsh'
for the nnal control of the Cihcihhau
Southern Railroad began to arrive a'
the general offices of that company. 1ney
represented two great railroad systems
both anxious 10 secure control OF the
property. The first interest Is the I'm
cinnati. Hamilton and Dayton, the other
Is the recently organized Southerh ram
way Company. of which Samuei spencer
is president, and OF which Drexel Morgan
&, Co. were the chief organizers and pro-
moters.
Receiver FELTON,. Of the Southern road
called the meeting to order. The hrst
business considered was the report vi
President and Receiver Samuel NJ. feitoh'
1t shows the total earnings for the year
to be s3,j7e979.i7, and the expenses lor
the same period. s266j ,2i5S5, leaving net
earnings amounting to S9ll,16i2. COM
pared with the earnings Of last year there
Is a decrease of $596,9s1.2i, but large
decrease is shown In operating expenses
The following directors were elected: -
NJ FELTON,, G. G. Harvey, II. w. kettudse'
Alexander Mcdonald. Lawrence Maxwell,
NJ u. Woodford Eugene zimmerman.
Cincinnati; II. f. Shoemaker and Alfred
Sully, New York. FELTON,, Harvey, ana
Mcdonald are the only members OF the
Old board reelected. They We're on both
tickets. and received 1850 votes out of the
10000 shares voted. The other six direc-
tors each received 22,61O. all OF them
being in the Cincinnati. Hamilton and
Dayton syndicate. that now secures con-
trol of the Queen and Crescent route as
IN crtt Of hands "A
receiver. All the Cincinnati Southern IN
terests voted with the Cincinnati, Hamil-
ton and Dayton interest. which had ma
jority without the protested vote. Inc
opposition voted only 500 shares. The
six retiring directors are Thomas, Brice,
Goodman, Anderson. Weir, and McGhee.
y VOTE CHALLENGED.
The first vote cast was by Or. Lauter-
bach. the New York attorney, who Is
Baron Erlanger5 Representatives. ana VINO
offered a proxy for the 1000 shar-s OF
stock held by the Alabama Great South
ern Railway Company. Mr.. Morgan,
representing the Central Trust Company,
OF New York, fled a protest against Mr.
Lauterbachs vote being accepted, on the
ground that the shares OF stock for
which Mr.. Lauterbach held the proxy
were n portion OF the stock when had
been given security for the Cincinnau
extension bonds given by Messrs Brice
e Thomas to Baron Erlanger In payment
for the controlling interest OF the Ala-
bama Great Southern railroad. Inc
proxy Mr.. LAuterbach offered Tor the
1900 shares vas frcm the Alabama Great
Southern Railroad Company, Limited, or
Lcndon, which company was the Alabama
Great Southern Railway Company. The
proxy was accepted. and the vote counted
c. c. Harvey then offered the proxy OF
the Flower" holdings, and IL was ac-
ceptcd without protest.
Townsend Morgan. who represented the
Central Trust Company, of New YORK.
offered the proxy Of the company Tor
5000 shares. Mr.. Lauterbach filed Il pro-
test against the acceptance OF the vote,
on the ground that Henry y. TAYLOR Is
the owner Of $3,Om.ooo of the Cincinnati
extension bonds. being a majority of the
issue. and was entitled 10 vote the stock
in question. as il was held by the Central
Trus. Company, Of New YORK. as security
for those bonds. Mr.. Lauterbach stated
that Nh Taylor had requested the trust
company for a proxy to vote the STOCK
on the 18th instant, but that the proxy
had been given 10 the opposition. The
vote was accepted however, by the
tellers.
This stock voted by Mr. Morgan is the
required 70 put up with the Central Trust
Compauv when they gave Baron ErlanSer
the s6.OOoo00 Of Cincinnati extension bonds
in pavrnent for the controlling interest
I'm the Alabama Great Southern AMI en-
cinnati. New orleans and Texas Phcihc
companies. They originally deposlteI S5'p'-
90 In cash. which remained with the
Central Trust Company until they sue
caeded I'm securing on the market 5'CoO
shares Of Cincinnati. New Orleans ana
Texas Pacific Company stock. which they
DEPOSITED with the Central Trust Com
pany and took down their cash. rms
gave Brice and Thomas with 1890 shares
in the Alabama Great Southern ROAD the
controlling interest in the Cincinnati New
orleans and Texas Pacific Company, with
out depending upon the "FloWeF stoeN'
The other stock was voted without pro-
test.
ERLANGER HOLDS HIS OWN.
To-day's selection very plainly developed
tn. fact that notwithstanding that tne
Cincinnati, Hamilton and Dayton syhni-
cate have made some sort Of deal with
Baron Eranger for Cincinnati extension
bonds. the Baron still controls the Ala
hama Great Southern, and also the ON
cinnat. New Orleans and Texas Pacinc,
through his holding OF the lO,G0 shares OF
mortgaeod Cincinnati. New Orleans ana
'raxas Pacific. with the Flower holding
To help him and the stock Of the Alabama
Great Southern Company Limited. OF
ENGLAND which company owns all except
nine or ten shares OF the stock OF the
Alabama Great Southern railroad or thiS
country.
The Baron. when he sold OFT the con-
trolling interest In the Alabama Great
Southern and the Cincinnati, New Otleaus
and Texas Pacific never let 10 OF ms
voting powers in those conpdhles' h"t
lied both Brice and Thomas up as tight
as a burglar-proof safe. He accepted the
100000 In Cincinnati extension tohds III
payment. with a prov.so to the eject
that If the bonds turn out all rght you
get the stock Of the Alabama Great
southern and the Cincinnati, New Orleans
and Texas Pacific. but II they don't
keep them
That is what the Baron DID during the
Rrice-Thomas regime on the Alabahl
Great Southern and Cincinnati. New or
leans and Texas Pacihc' and what he dii
to-day.
The annual meeting Of the Alabama
Great Southern stockholders at Blrming-
ham, and the annual meeting Of the Cin-
cinnati, New Orleans and Texas Pacific
stockholders are merely preliminary sklr-
mlshes TO the real battle for possession
Of the Alabama Great Southern and the
Cincinnati. New Orleans and Texas Pa
cihc which will take place when the ma
jority OF the stock Of the Alabama Great
Southern railroad is sold at foreclosure
10 satisfy the claims Of the holders Of
Cincinnati extension bonds.
The new Board of Directors will or
ganize by electlng officers later II the
rgf firtsaV IN ba "a
the foreclosure sale. or the G. and II. ID.
people bid il in, the price obtained Will
be such that the holders OF the Cincin-
natl extension bonds Will benefit.
HILL AT KINGSTON.