The sun. [volume] (New York [N.Y.]) 1833-1916, 1899-09-25
BOSTON AND ALBANY'SFATE.
NAVY PROXIES GIVEN TO THE PRO-
TECTIVE COMMITTEE WITHDRAWN.
The Committee Has Announced It's Inten.
tlon to Overturn the Dircctorate-Some
of the Stockholders DO Not Desire to
Go Further Than to Defeat the Lease.

The Committee Has Announced It's Inten.
ton to Overturn the Dircctorate--Some
of the Stockholders DO Not Desire to
Go Further Than TO Defeat the Lease.
BosToN. Sept. 24.-Although the so-called
Protective Committee has apparently secured
control OF the Boston and Albany railroad by
getting majority ofthe stockholders proxies.
yet tho battle is not ended. as shown by to-
days developm ents. 1t is an unquestioned
fact that many stockholders gave their proxies
thinking they were to be used against the
lease. but without any idea they were to be-
used to overturn the directorate. Some Of
these have since given proxies in favor OF re-
tanning the present board In authority. Just
how many have done this the Protective Com.
mittee does not know and the directors will
not tell.
The Protective Committee Ia out to- day with
a statement to the stockholders. which says:
"A circular has been issued by three officers
OF your road. king you to revoke the proxies
heretofore given the Protective Committee.
The situation is simple. Tho committee. after
obtaining proxies on over 100000 shares.
asked tho directors. through Mr.. Sargent. one
Of their number. to abandon the proposed
lease. in view OF the opposition OF such a large
number OF stockholders. This was voted
down by the Board OF Directors. and ID
became apparent that no negotiations look
be successfully had while the presi-
dent and directors were committed to
the proposed lease The committee, there
fore. has decided to present aud vote for at
the annual meeting the following Board OF
Directors. OF whom five. including President
Bies. are members OF the existing board:
William Bliss. A. G. Bullock. T. Jefferson
Coolidge. Jr. Charles L. Getting. Zenas Crane.
Eben s. Draper. Richard Olney. James NJ.
40. Inn A INV
rill. Charles =. Sargent.
The election OF this board OF directors 10
deemed by tho committee necessary II the
stockholders desire better terms for their
property. We now hold proxies for over &c.
600 shares out OF the total OF 100000"
This is signed by Charles S Sargent. William
Mlnot Charles Getting. Alfred d. Foster and T.
Jefferson Coolidge. Jr. The present directors
who are slated to retire under this arrange
ment are Chauncey NJ Depew. Edward L.
Davis. Edward d. Hayden. Albert c. Houehton.
Stephen Salisbury and Samuel Hoar. the last
mentioned being counsel for the road. and Mr..
Hayden it's Vce-President.
Concerning this statement Samuel Hoar said
to- might:
In reckoning that they have 1876. 900 shares
on their side the Protective Committee does
not make any allowance for Withdrawals OF
| proxies. and they have no means Of knowing
that very many Of the stockholders who gave
their proxies to the Protective Committee
did it In sss ons' aSd t9 to
had no iden they were to be used to
overturn the directorate. Mr.. Bliss. Mr. Hay
| holders explaining this situation and asking
TINT they give us their proxies for use in re-
| timing the present directors In ONCE. We
| have already received n great many of these,
| but am not prepared to say Just how many.
| The present board OF directors will certainly
| be candidates for recollection on next Wedneh-
| day and tho side that has the most votes will
| win.
pear in the ticket proposed by the Protective
! Committee were used without aut hority In
| them would remain on the board II the Pro-
| tectivc Committee gets control OF the road. OF
| course every man must sneak for himself as to
| chat, but am prepared to state that Mr. Bliss
| would not remain and | certainly should not"