The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-07-23
IT GO THROUGH /?
The Situation Regarding
the Lease Of the Bos-
ton and Albany.

The influential character of the
names attached to the circular just is
sued by the so-called Boston & Albany
protective committee, coupled with the
fact that the gentlemen named are I'M
derstood to represent some $4,000 of the
100000 shares of Boston & Albany stock
outstanding, has set the street" to
wondering if, after all, the much dis-
cussed lease to the New York Central
will go through in it's present form
The circular itself is generally con-
coded to be a logical temperate and
exceedingly interesting presentation of
the minority side of the case, and is
receiving a much more careful reading
than most documents of that nature
are usually honored with.
1t is understood that one-half the
total $500 shares of the stock is held
by about 900 persons, and it is theoreti-
cally necessary to get control of 1924
shares to block the ratification of the
agreement signed by the directors.
The other half of the stock is held
by no less than $500 persons, roughly
estimated fact which may argue the
comparative ease of securing a control
OF third as opposed to the extreme
difficulty of locating and obtaining the
stock and proxies of two-thirds, or
more than $4,000 shares
Although, as stated, it is theoretically
necessary to obtain little more than
$4,000 shares to block the lease in the
stockholders meeting, the two-thirds
necessary to carry the lease is, of
course, of stock present and voting. {"
and never yet has the full issue been
represented at stockholders meeting
&c enid
largest amount that has ever been rep
resented at any previous meeting of
the Boston & Albany, and on that basis
the protestants have already enough
stock IN hand to defeat the lease.
AT the annual meeting this fall, how
ever, every share of stock which one
side or the other can reach will be
represented in person or by proxy and
until that meeting is assembled il will
be impossible to determine how large
vote Will be necessary to compose the
one-third necessary to defeat.
Boston and Albany Railroad officials,
who are in Boston, decline to make any
statement with reference to the circu-
lar issued by the protective commit
tee yesterday against the proposed
lease President Bliss, Vice President
Hayden and Counsel Hoar, who are
best posted regarding the lease are
all out of the city at the present time,
and are not expected home before the
middle of next week. Until they return
1t is not probable that any statement
in reply to the circular will be issued.
IL, indeed, one is put out then. 1t is
the purpose of the management. 1t
ought to be said, however, to send cop
les of the lease at the proper time t.
all of the stockholders and to give a
full explanation of the reasons that led
to the agreement. Until they do this
it is not probable that they will dis
euss the matter in detail. But it is as
serted on excellent authority that We y
many large stockholders whose names
have not yet been mentioned, and quite
number of those outside the state, az
well as very many small holders. have
already signified their intention of APP
proving the lease. People close to the
Boston and Albany management are
therefore still very confident that tire
lease will be ratified at the meeting,
and if this is done, they have no APP
prehension whatever regarding the ac-
ton that the Legislature will take in
the matter. They believe that popular
sentiment regarding the lease when
the same is fully understood, will APP
prove it so strongly, because of it's re-
sultant benefits to the commercial in
terests Of Boston, that the Legislature
will certainly feel bound to ratify the
action. For the time being, the out
look is, 1t must be admitted, somewhat
doubtful, and until the Boston and AL
bany officials have spoken, it is impos-
sible to tell just what the outcome Of
the meeting to be held in September
will be.