Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1897-05-06

OF July and January OF each year, said
distribution to be made on July 10th
next"
The resolution was seconded and Col.
du Pont moved for stock vote, which
motion was likewise seconded.
Mr.. Connor moved to lay the resolu-
tion on the table.
As substitute Mr.. Kurtz offered
resolution to adjourn for 30 days. and
then iEeet in Philadelphia or some
other convenient place and canvass the
vote on the resolution. This motion
failed and Mr.. Kurtz said he would call
for stock vote ON the motion to lay
the resolution ON the table.
Mr.. Connor then withdrew his motion
and the vote on the resolution was
taken. The result was 1893 shares for
the resolution and Is, 630 against.
About this time the judges of election
completed their work and announced the
result OF the vote for directors to be:
Col. II. A. du Pont, 81, PCT 2-6; John
S. Gerhard, u, 266 80; Col. L. Heber
Smith, 81, 265 2-6; A. L. Foster.
81, 264 &c: George Brooke. q, 265 90;
A. II. Huston, 81, 262 20; W. W.
Kurtz, 3d.,
After the announcement Of the result
Mr.. Kurtz again took the floor and
said: II perceive the operating eX-
penses of the road keep away up. Most
other railroads that l know of have
been cutting down expenses suppose
it is impossible to reduce our expenses.
l think tho operating expenses ab-
normally high and would be glad for
some explanation.
Col. du Pont-."I the freight traffic
falls off we are only able to dispense
with few crews. This, with the fuel
expense is the only opportunity for
cutting down, and it is insignificant.
The other expenses remain the same.
The company's expenses are row far
below those of adjoining roads. It's
numerous grades and curves and bridges
of necessity make the ". S N. more
expensive than others. The operating
expenses, however, will be lessened this
year.
Mr.. Kurtz -"I had hoped, after
reading that while gross receipts had
fallen of on other roads the net receipts
had increased, for similar result on
this road. +"
Col. du Pont-"T There's very little to
scale Off on our road, as it 10 down now
to the lowest possible running ex-
peuse. :"
Mr.. Kurtz then inquired carefully as
to the details of the duties of the audi
tor, secretary, engineer, general agent,
superintendent. treasurer and presi-
dent. He said he recognized 1T was a
delicate question he was asking, but
he desired to know il the president
gave his full time to the road.
Col. du Pont-" He's there when in
hip onipipF hiu roresopra iu raoi1ireH ~
Mr.. Kurtz-" Have you ever taken
into consideration whether the company
would or would not be better off with
president who would devote his whole
time to the interests Of the company"
Here Mr.. A. l.. Foster arose and said:
~ object TO this line of personal ques
,tions, as don't think them necessary.
They are entirely out Of place"
Mr.. Kurtz -" "This is the annual
meeting of stockholders and is the only
opportunity we have, OF asking for in
formation. The stockholders are en-
tirely entitled to be kept informed.
They have the right to know how much
time is given by the officer and the
value of his services. ~
Col. du Pont--'If the board of di-
rectors think any other gentleman can
attend TO the duties more satisfactorily
it is their privilege to select him"
Mr.. Kurtz-"I have no personal OBJ
jections to you, but do think 1t would
be better for the company to have
president who would devote his entire
time to the interest Of the company"
Col du Pont..-"l have always given
my main attention to the compauy's in
teresta. Some railroad presidents do
not even live on tine lins of their road
and are presidents in name only. |
would also cali your attention to the
fact that l was president of the road
without salary for several years.
Mr.. Connor-."I think this line of
questions should stop. Mr.. Kurtz, l
don't think you are gaming any
friends. Col. du Pont has given US
better service than some of the $50, 900
presidents of other roads. 1t seems that
all your efforts are to get up the price
of stock. To declare dividend would
be merely TO borrow money"
Mr.. Kurtz-"This is not the first
time l have been charged with attempt
ing to boost the stock and then sell
out. You are mistaken in regard to
my efforts. only desire Justice to the
stockholders. There is another charge
that has been made against me, that
am acting in the interest OF the Penn
sylvania railroad. That is also untrue.
l bought the stock because, it was
cheap. / am sorry to say no one else
seems to want TO buy the stock.
The other members had evidently
become tired of MIR. Kurtz's remarks
and motion to adjourn was quickly
rushed through.
The directors met afterward and Col.
du Pont was chosen president, e. b.
Shurter secretary, A. G. McCausland
superintendent and treasurer, Il. L.
Hilles chief engineer and Bowness
Briggs general freight and passenger
| agent.
After the meeting Mr.. Kurtz said he
was perfectly satisfied with the result
and that he proposed to continue the
contest in the board of directors until
he accomplished his object-to have
dividend declared.
Stricken With Paralysis.
Special correspondenceo OF Gazette and journal
Dover, May 4.-Ex United States
- Oh uak