St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-06-23
ATcHIsoN's NEW DEAL.
Both Stock and BondhoIders Will
BE Allowed Tn Vote


BE Allowed tn Vote.
CHICAGO. June g. -Somers Hayes,
chairman Of the Reorganization commit
tee Of the Atchison road, WAS in Chicago
today. In speaking of the plan of re-
organization announced, he said 1t was
a mistake to suppose that stockholders
would be deprived of the right to vote
OH any or all questions submitted.
THE deposlting Of their stock with a
trust company" said Mr.. Hayes. lis
mere matter OF convenience to provide
q way by which the income bondholders
may also have vote during the period
they derive no income from their secur-
itics. The laws of this country pro-
yide that only stockholders shall have
the right to yete. but by agreement it Is
arranged to allow the income bondhold-
ers the Slime privilege. When any
q g ion is 10 be voted upon. there will
be preliminary meeling Of both stock
holders and bondholders, something like
primary meeting at elections. At this
meeting the. stockholders will cast all
informal vote. the result of which will
be placed in the hands of the trustee for
the stock, and he will cast the formal
Vote IN conformity Herewith. The
amount of stock is only sl02. 900, 900,
while the income bonds will amount to
Sll5.0JO,G00. 1t may be said that the
holders will be ab!e to outvote the stock.
holders and thereby practically deprive
them OF their vote. IL must be remen-
bered, however, that it is proposed that
sl2, 240. 900 of the Income bonds should
be held by the stockholders, and that,
added to. the amount of their stock, will
place them nearly on an equality with
bondholders. SO far as voting goes.
Then, only registered holders of bonds
will be allowed to vote, and in very
short time large numbers of bonds will
get into the hands II parties who never
think Of voting"
MIR. Hayes seems to entertain little
doubt of the plan for recognizing being
adopted as submitted.
Action taken by the Atchison today
will have the tendency to complicate
the existingdemoralizatl in excursion
rates. 1t gave notice of its intention to
extend the dates of sale of tickets from
trans. Missouri territory for the Repub-
llcan league convention at Denver 50 as
to include June %, "a and %. The or
lglnal dates agreed on were June % and
"A. This action was taken because the
tran s. Missouri lines had agreed with
the Union Pacific to change tile dates
of ale 10 June "a and Is. The Atchison
also gave notice that itswould make an
additional day of sale in trans Missouri
territory for national education conven-
ton tickets to Asbury Park. The orig
a datQ nf
sale should be July and Z. but the At
Gibson will now sell July .. 6 and z. 1t
| Will also have an additional days sale
| of the Christian Endeayor society
meeting at Cleveland. The agreed
dates were July 8 and 8, but the Alchi-
son will sell July :. 9 and 10. Western
Passenger association lines have been
authorized to meet this action in each
| case.
Western roads that have received i'm
migrant business from the intercolOnial
road landing at Halifax were surprised
| today at receiving big bill for terminal
expenses. When the immigrant clear
ing house was organized it was agreed
| that Western roads would not share in
terminal charges of any kind OH BUSH
ness landing at New York, Philadei.
phia, Baltimore and Boston. Regular
commissions might. however, be paid
on business landing at Halifax, Pueblo.
Portland and Montreal. These commits
sIons have been paid on all business
handled through the clearing house.
| Now the intercolonial GENES in with a
big bill for extras in the shape OF
terminal charges. The chairman of the
Western Passenger association has noti-
led his roads not to pay it OIL any ac-
count. A big protest has been filed by
the Denver & Rio Grande road against
the short limits allowed on the tickets
sold the homeopathists for their conven-
ton at Denver. The Denver. & Rio
| Grande asserts that these short limits
have deprived the Colorado lines of a
large amount of revenue. as they pre-
vented the delegates who desired to do
| SO taking advantage Of the Colorado
tours arranged for them. 1t does not
want the thing repeated.