Evening star. [volume] (Washington, D.C.) 1854-1972, 1898-09-26
LOCAL DISPUTATION
Controversy Over Management of U.
s. Electric Lighting Company.
MR.. THOMAS TO TIE STOCKHOLDERS
Some Sharp Comments on Tactics
of the Opposition.
P 20 XIES w A \ Z E d

Another contribution to the controversy
which has been going on for some time as
to the continuance In power of the present
management of the United States Electric
Lighting Company appears In the form CT
d printed statement signed by "A. A.
Thomas, the president of the company. 1t
is understood that these circulars have
been sent to the stockholders of the COM
pany. The opening statement refers to
the efforts being made to secure proxies
for the coming annual election of the COM
pany. which will be held at Harper's Ferry
in November next.
1t is explained in the circular that under
the laws of West Virginia, by which the
company is Incorporated. the cumulative
system of voting prevails, so that each
share of stock can be voted thirteen times.
or as often as the number of directors Of
the company.
The Cumulative System.
A stakeholder having 100 shares. it is ex-
planned can cast 200 votes for himself or
for some other person director. 1t is
further asserted that while it is proper and
right for a stakeholder to give his proxy, if
unable to attend the meeting, he should
not allow without his full consent his stock
ton of the company, but for advancing the
personal ends of parties who are them
selves by their often very limited holdings
unwilling to assume the liability OF per
sonal loss for their actions.
IF it is your desire to change all the Off
GERS of the company and allow period OF
experimenting by untried hands, you are
at liberty to do SO. but you have also the
right to know that il is to be attempted.
Mr.. Thomas Policy.
After giving figures showing a compari-
son between the condition of the affairs of
the company at the time Mr.. Thomas was
elected president and the present the cir
cular continues:
.'At all times l have stood for a broad
liberal and progressive administration of
the affairs of the company, often with but
small support. if any, from some members
of the board of directors, who seemed I'M
able to look ahead and anticipate the de-
mands of the future or appreciate the ne
cessity for cutivating and maintaining
friendly relations with our customers, the
public and those in authority. During this
period there has been introduced into Con-
gress upward of fifty bills, many of them
enormously urged, some of which, if pass
ed. would have seriously injured, if they
Old not destroy, the company.
Efforts of the Opposition.
Just at the present time, when the af-
lars OIL tuS company nave Deen Drought
by myself and associates to the present
very highly ereditable state and when the
economy and iIlhueI-ce Of the new plant
are about 20 be felt, and at time when,
of all others, we should have a right to ex-
pect your continued confidence, l under
stand from the public press and otherwise
that efforts are being made by persons who
style thems elves the minority of the board
to retire, at rhe coming election, the entire
present management, and substitute one of
their own.
One of these gentlemen has of record
thirty shares; another, fifteen: another,
fifty; another, sixty-two; another, seventy;
another 1903. and so on. While l myself
have of record S34 shares, and in my i'm
mediate family 253 shares more, alone moro
than that of the entire opposition. One Of
my associates has BAT shares; another, 194
shares; another 10 shares; another fifty
shares, and SO on. Which has evidently the
most at stake? And which will strive most
earnestly for your permanent interests?
EN- Partc Statements.
LAS to the opposition. it has made
noise out of all proportion to its size, and
has not hesitated to circulate ex parte
statements, to the continued unrest of
stockholders. the depreciation Of their
stock. the discredit of the company with
the general public.
IF you, therefore, desire to retain the
present officers and management, and de-
sire to be sure that your wishes in the
matter will be carried out beyond question,
please execute and return the inclosed
proxy at your earliest convenience"