New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-01-19
HODCMAN'S
MACKINTOSHES.
[ liable, Preserves Healt!, and Clothes.
nROADWAY III WEST 1JD ST..
coz. GWA<D STHEf" ADJ. oTl Avn hVThiA'
LEFT IN NEED OF OFFICERS.
II VARIABLE SITUATION OF THE NORTH
ERN PACIFIC.
IhcEIvERs REMOVE THE SECRETARY, TREAa-
RER AND AUDITOl-TiIEY HOLD THE COM
PANYs SEAL. AND TRANSFER BOOKS
no MONEY AND PowERLEss TO
ACT AS \ OBSERVATION-DISCLOSURES
ING RELIEF FROM THE


COURTS
The meeting Of the Board Of Directors Of the
srthern Pacific Railroad yesterday developed an
,onishing state OF affairs as consequence OF the
:tion OF the receivers. The company Is left with
II q secretary treasurer or auditor deprived
the seal OF the company. the book OF min
tsg and the transfer books. and virtually pow
rless TO perform any important corporate act.
When the stockholders overthrow the former WI
ard management Thomas f. Cakes, OF the
&c lvers, requested the president. Brayton
YES 10 facilitate harmony Of operations by re-
tanning the subordinate officers who were serving
In the same capacity under the receivers. Accord
ngly George II. Earl was reappointed secretary,
George &. Baxter. treasurer. and J. \. Barker aud
ior
When the directors of Northern Pacific began
suit for the removal Of the receivers the latter in
sisted upon Messrs Earl. Baxter and Barker re
signing their positions under the company. These
designations were laid before the Board of Directors
yesterday II was impossible to al the vacancies.
az the receivers have charge OF all the funds Of
the company. and the directors had no money 20
pay employees More than that. the receivers
hold possession o! the implements o. the Office OF
secretary. treasurer and auditor. including the
company's seal. transfer books and minute books.
less perform such corporal" acts making
loagterm contracts with other companies for traf-
nc interchange or otherwise or TO transfer stock.
to inform the New York and Philadelphia Stock
exchange Of the extraordinary stat II affairs a.
we'll as the Guarantee Trust ana safe Deposit Com
pany of Philadelphia. which has here ;oiore been
authorized rec ~" stock IN Philadelphia for
transmission ~ Ncw-York - b" transferred on the
Northern Pacific books from one person - another.
Application has been made 10 the Wisconsin United
states Circuit Court ~ obtain relief b. the appro-
prltlOn of money rs 10 enable the company 10
carry its regular business. The directors are
highly Indignant over tho conduct II III" receivers
which has brought about this condition Of affairs.
This corduc, has confined The directors IN their de-
termination to fight vigorously for the removal OF
receivers To secure. officers OF IN"
court. who Will r"Dresf ut the present manage
mont instead Of representatives. OF IN adminisira-
ton which was Overwhelmingly defeated at the
annual meeting ~ the stockholders The directors
who represent the foreign bonlholders are under
stood to have cast their LOT emphaticalv with the
stoCkhOdlng Interest owing - this development or
the consequences ~ the present recclvershlp.
The Northern Pacific directors Yesterday elected
John T. Scarlcs. IT,. treasurer or the American
Sugar Refining Company. a director - I'll the
vacancy caused hy III" resignation OF Johnston lN-
lugston. The rcsign1ions - william l.. Bull and
charles r Harvey were accepted bur IN" vacancies
90