New-York tribune., 1894-03-03
THE STRUGGLE is ENDED
NICARAGUA REORGANIZATION CAN NJ"
GO ON UNIMPEDED.

F. II. HArCH AND HIS FACTION DEcip" NJ
LONGER TO OPPOSE THE PLANS OF 1ih
pARTIErr coMMITTEE-JUDGE La
coMBE.s ADVERSE DECISION
TERMINATION OF \ LONG
AND BITTER FIGHT.
The long and bitter struggle between uIe w W. co.
tions Of stockholders in the Nicaragua CanaI Oo"-
,o,i,r co,rnanv for the control of the affairs Oh
tho companv has been ended by the announcement
of tho Hatch Committee that it Will no longer op
nose the work of reorganizng the company aS u'i'
dertaken by it's opponents. This means '"d' ,.' ,
called Bartlett pan. or the pan ol leo' -,
adopted by the stockholders under the iedre.
John F. Bartlett, will be speedily carrier o" .
This contest has been one OF unusuai i"e'o' -
,.o,,,ing az II does the control of several Hiioh
dollars of stock, and some OF the peS'-hio"' , "
vers in the country have been retainer ." W
sides as counsel. Joseph II. Choate the cou"'9 'O
the receiver Thomas Atkins, mas peeh aS9i''e' ~
ex-Chief Justice Charles p DAILY peslues N,e w
firm Of Ludlow. Phillips & Winthrop while the OPP
rosrg fact,on OF stockholders has had Ex-Governor
George Uo,dlv John G. f. Gardner and Gherarui
navis The last move By the so-called Hatch COM
r,ittee was TO petition for the privilege ol
the books of the company. FREDERICK H. H''N'
stocISholder in the Nicaragua Canal 'o"9'I -. Y
Con,nany through his counsel, Ex-Governor ii'aN'
I.
IT, 7 ocor,ho of tho United States Circuit court
ON January a. to examine the books OF the conph"'.
Mr. Hatch is the chairman or ule co'H"'i'
stockholders who opposed 70 III" p'd ~
REORGANIZATION OF the company as proposeu oy ~ Nv
stockholders associated with John r. Bartlett ne'
sides a large number Of stockholders the'e d'e a.
sociateJ with Mr.. Hatch' = +N"o''
WI bur f. Herbert.
WHAT THD HATCH MEN ASSERTED
-be at
r.,to, tbat securities worth $4,000 were wrohS-
fu,v given away Mr.. Hatch also charged that o'o
half Of the 10000 capital Of the company wa
issued 10 persons composing the Nlcdr"suh
Association in return for $}0oVo sent py un7'" ''
rcttinc from Nicaragua the concession. Ot tae re-
naming 100000 capital stock, the 'o"S'' ue'''
companv saws that 100000 sold to the pubic at
n cents on 4 dollar This Mr.. Hatch declared was
no, true and he SAYS that the company dI not get
81 Oo.c0 for H.
In rendering his decision on February l. Judge
Tacomb, denied the Hatch application Tor perH''S
sion L, examine the books Of the Nicaragua ANA
Cons,ruction Company. on the following grounaS;
The anplcation is opposed upon the statement
tho, It's object is to obtain material TO be used III
convincing other stockholders that proposea pan
OF reoryanizatlon IS one which should not be car
ricd out.
The court in these cases is harbor of refuge "o'
y ranair shop II VIII hold the corporation safe
its business going. thar whatever there may ~
in tho business may be preserved FOR ali concern'I,
buf IL will not undertake either lSrf or py '9 IN,
Gers to reorganize the old corporauoA OF 10 hi
new 10 solicit sub'crIDets u .C. -
cato ~ prospective purcna GERS ne tPP'l i','' ~
MS raricu.ar petitioner must DE refused II ap,
pears that he all not become aocko'n@i N'tS ,he
January OF this year. nearly SIX mohtHs az. 1T III
situation is very different from that Of one VINO h
&C. a e,ockho'der Of record AZ the time OF the
catastrophe whca wrecked the corIor'toh'
,p GARDNER GIVES THE REASONS.
I, was expected that Mr. Hatch. through hl'
c,uns.' would make another motion based on tho
petition ~ another and older stockhod"r. Inc sur
render Of the Hatch Committce. however. leaves
the Bartlett, faction practically un2pposcd in i's
work Of rcorganzlng the affairs OF the company
on It's plan.
Mr. Garlre- was seen az his Office in tho Union
Trust Company Building. NJ " Broadway ycsier-
day afternoon. and slh 10 Tribune reporter;
You say that our committee mas COM % ' io
conclusion no longer % oppose the rtorgahl1auon
the basis Of the John r. Bartlett plan.
will unite forces with he Bartlett faction and
assist II in the reorganizion OF me company Oh '"e
Not exactly that" replied Mr. Garlncr. we are
not prepared a. pres nj - 60 90 that extent But
have deril / not ~ offer any further opposition
% their sch IN" of rcDrgAnZlng the company. our
position ~ present Is strictly neutral one. and We
Will remain passive uutll time or occasion may re-
qure fIrth~r action on our part"
what has ,ed YOU to this determr1tonH
We'll the fact of N" matter is we nave found
the bartlett faction too strongly intrenched for
us. They fortified with money. influence and
power We 80 no, see that we are gaining anything
hy continuing q hopeless fight 50 for the present
Will rcmaia passive spectators of their plan
Of rec rganiZaton. 80 formal mectlag of the Hatch
Commit'e" called AT which this determination
was arrived n. but We Informally came together
and decided FOR the present 10 cease our opposition
q, 10 a. al Il TgttTr Al A