The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1895-10-22
VOTING STOCK BY PROXY,
RAISING A POINT THAT MAY
AFFECT ALL MINING Cor
PORATIONS.
CONSOLIDATED CALIFORNIA AND
VIRGINIA DIRECTORS SHOWN
A NEGLECTED LAW.

Theodore Fox and Henry G. Sieberst,
owners of one share each of the stock of
the Consolidated California and Virginia
Mining Company, created quite stir at
the annual meeting of that company yes
terday when the time came to elect board
of directors.
The motion was made to proceed to an
election, when Sieberst, who is attorney
for Fox, notified the meeting that the cleo
ton could not be held. for the reason that
the shares represented did not appear upon
the books of the company in the names of
the real owners-in other words, that the
certificates of stock had not been legally
issued.
He then offered q written notice, in
which the following occurred:
To Aessrs. Charles II. Fish, George r. Wells,
Cornelius o. CoRnor. Nat T. Messer and II. ZGdig,
Directors Of the Consolidated California and Vir
ginid Mining OBSERVATION-DISCLOSURES On Octo-
Der ID, S94, you were declared elected direct
ors of the Consolidated California and Virginia
Mining Company upon the proxies of persons
having no beneficial or real ownership in the
stock, and that you may not again proceed to
hold an election in the same unlawful manner
and for the same purposes, on this 21st day of
october, y. ID. 1893, l viii respectfully call
your attention TO so much of the act entitled
IAN act for the further protection OF stock
holders in mining companies approved
April %, 1880 as applies to the books OF min
ing companies and elections held Hereunder,
viz:
Sec. 2. All stock in each and every mining cor
poration in this State shall stand in the books OF
said company in all in the of the real
owners of such stock in the name of the trns-
tees of such real owners; but in every where
such stock shall stand in the name of trustee the
party for whom he holds such stock III trust shall
be designated upon such books and also in the
body OF the certificate of such stock.
Sec. 3. 1t shall not be lawful for any such cor
thereof
books OF said corporation more than two days
prior to the day of any election AT such election
the stock of said corporation shall be voted by the
bona fde owners thereof, as shown by the books
of said corporation unless the certificate OF stock
duly indorsed, be produced at such election, in
which case said certificates shall be deemed the
highest evidence Of ownership and the holder
| thereof shall be entitled to vote the same.
Your company does not keep books contain
| ing the names of the real owners of such stock
or any book in which are the names of the
real owners of such stock or the stock standing
| in the name of the trustees of such real owners
| or the party for whom he holds such stock in
| trust is not designated in or upon any books of
said company. 1t does not appear from your
| stock ledger or stock certificate that any stock
has been issued by the corporation in the name
| of the trustee and the party for whom he holds
| such stock in trust.
We also object to certain firms and individ-
uals voting upon the ground or grounds that
| they have no beneficial or real interest what
| ever in the shares of stock of the corporation,
| the Consolidated California and Virginia Min
| ing Company; that they are not the real own
| ers of the stock or shares of stock purported to
| be issued to them; that they are not the bona
| tide owners thereof, or OF any part thereof;
| and that the books of the company nor the
| certificated shares of the capital stock pur-
| ported to be he Id by them do not designate for
| whom they hold said shares of stock; and it
| does not appear from the proxy proxies so
| given by the said individual or individuals,
| firm or firms, that they were given by the
| bona-fde owners thereof. Yours truly, etc.,
| THEo Fox the owner of 135 shares of stock of
| the Consolidated California and Virginia
l TIT, T@y~, r,,r
| Fl. G. SIEBERsT the owner OF 100 shares of stock
of the Consolidated California and Virginia
Mining Company.
When a motion was made to elect direc-
tors Denis Kearny seconded the motion.
| Seiberst objected on the ground that the
| holder. Thereupon Kearny declared that
he has 500 shares of the stock locked up in
an iron vault. The objection was ovel-
ruled, as was one made by Seiberst when
II. Zadig, broker, offered to vote 5000
shares, which he did not have with him.
Objection to every act was made by Fox
and Seiberst for the purpose of taking
steps to have declared illegal the election
held during the afternoon.
The old board, with two exceptions, was
reelected. These were ]. W. Twigg sec
rotary of the Andes Mining Company,
brother of the president, in place of George
r. Wells.
In support of the position taken by Seib-
erst he quoted the following from the
twenty third New Jersey equity reports:
An election is not legal if the list Of stock
| holders exhibited and acted upon on the day
| of election is not true list of stockholders,
| and known not to be such by the parties who
| exhibit it and who vote upon it.
| Stockholders who are not such at the day an
| election is held cannot vote, although they
were stockholders at the day on which it
| should have been held.
| At the meeting 10000 shares were rep
resented by proxy, 135 by Fox, 100 by Seib-
erst and u by the directors.