The Caldwell tribune. [volume] (Caldwell, Idaho Territory [Idaho]) 1883-1928, 1894-10-31
THE SANTA re ELECTION.
Railroad Stockholders Object to the
Comm utati0n Plan

Railroad StOCknOlOete ODJecG 90 the
Communication Plan.
TOPEKA Oct. 25.-Very important action
was taken during the night in connection
with the Santa Fe situation. Newman
Erb and Genera! b. F. Tracy, acting for
the protective reorganization committee,
went iefore Judge {. q. Foster, OF the
United States district court and asked for
an order restraining the stockholders from
electing directors today until the courts
should decide whether the cumulative plan
of voting could be exercised. Judge Foster
granted temporary restraining orier con-
ditionally; that is, he said the meeting
could proceed if the cumulative plan OF
voting were exercised. otherwise not, aud
in this event he would set the hearing on
the temporary restra:ng order for Monday.
October 20.
Contents Of the Petition.
The petition for the injunction was filed
by benjamin F. Tracy and Newman Erb of
New York. Henry Woolman of Kansas
City. Williams & Diier Of Topeka, all
solicitors for William Palmer Smith Of New
Jersey, complalnant. The petition sets
forth that IN 1873 the Kansas legislature
passed a culminative voting law, giving to
the holders of stock in Kansas corporations
he right 10 cast all their votes Tor one
director, that is, the number OF votes TO De
cast on account of each share OF stock 10 be
mu tip,ied by the number OF directors to
be elected and all OF such votes given tor
one director; that the law was amended in
1881 as follows: In all elections for all
rectors or trustees of any incorporated
company, each shareholder shall have the
right to cast Us many votes in the aggregate
as shall equal the number Of shares so held
by him or her in the said company, null
iiplied by the number Of directors or trus-
tees 10 be elected at the said election. and
each shareholder may cast the whole mum
Der Of votes, either in person or by proxy
for one candidate. aud such directors CT
managers shall not be elected in any other
manner.
BY far The most important point from a
railroad stanlpont that has developed so
far is that the general committee, if it wins
this fight, will make b. f. Cheney. Jr,
chairman of the board. This is the highest
executive position on the railway. Cor
neius Vanderbilt is chairman of the New
York Central board. an Office higher than
the presidency held by Chauncey NJ.
Depew.
Adjourned to November /.
At 10 o'clock the room of General Man
ager Frye in the Santa Fe general office
building was packed with representatives
of opposing interests Secretary Wilder
read the cal, and Immediately announced
as a committee to take down proxies an
see who was entitled to vote. Charles Blood
Smith, James Walker. Jr., and George W.
Porter Newman Erb strongly objected
because the protective committee was not
represented, and moved that Henry WOOL
E,an Of Kansas CITY be added. The mo
ton finally carried, and adjourn ment was
taken until II.
This afternoon the Santa Fe meeting
elected Thoma A. Caborn chairman, and
adjourned to 10 O clock Thursday. Novem-
Der /. Newman Erb introduced a resolu-
ticn that the federal court be asked to ap-
point a committee to investigate the COM
pany:s affairs and report 10 the stockhold.
ers within 80 days. This resolution was
shut out by adj Iurnment.