The sun. [volume] (New York [N.Y.]) 1833-1916, 1899-08-27
BELMONT ANSWERS GOEBEL
THE LOUISVILLE AND NASHTILLE'S
REPLY TO AN ATTACK.

August Belmont, Chairman of the Roads
Directors, Says the Corporation Is Not
in PoIitics-It is simply Protecting Its
Interests in a Strictly Business Manner
LOUISVILLE, Ky, Aug. 20.-In letter made
public to-day August Belmont makes plain
the Louisville g. Nashville Railroad Companys
position in the fight against William Goebci
for Governor Of Kentucky. The letter follows:
THE L. Il n. r. r. COMPANY, 100 BROADWAY
AUGUST BELMONT. CHAIRMAN
NEW YORK. Aug. 1S. 1890.
"Hon William Gosbsi Kenton, NJ.
my DEAR SIR:-I notice in copy OF the
Cotria'-Jomual. dated Sunday. Aug. IL. the
following paragraph from speech mado by
you at Mayfeld. Ky:
THE L. 4 n. Il. r. Company is controlled by
the Belmonts. who are, and for many years
have been the American representatives
OF Rothschlds. and Mr.. Belmont is the
Chairman of the Executive Board OF the
l.. & n. II. r. company. The Cleveland
q Carlisle gold bond sale contract was signed
by August Belmont & Co.. on behalf OF Messrs.
Rothschd & Son of London and themselves.
and none other have q greater interest in
maintaining the single gold standard than tho
Rothschlds and the Belmonts. because they
are the largest holders OF American securities
on earth.
1.-THE agency through which they can most
effectively work in kentucky IL the J.. n. r.
II company. Now. as in 1896. that corpora
ton EN- ploys every known engine OF coercion
and intimidation against the Democratic party.
and now. as in 1926. it uses the money
gathered by it from the people OF kentucky to
send broadcast over the common wealth many
thousands of free copies of newspapers that it
has had subsidized containing every assault
upon the Democratic party and its candidates
that malignity and mendacity can invent
Il am not citizen Of your Common wealth,
and therefore should not presume to NEEDLE
with politics which are purely local: but, mas
much as you have deemed it policy to make
the above statement. assume the privilege of
giving currency to my unqualified reputation
OF its truth. | am the chairman OF the J.. &
n. Railroad Company, whose stockholders are
very equally divided between Europe and this
country, and there were at the time of last
election 1898 stockholders OF the company
divided between Europe and America and. on
an average. stockholders represented by 35O.-
600 to 800. 900 shares of both classes. out Of n
total OF 52S,OOO shares, have sent me their
proxies to vote annually ever since my official
connection with the company began. This is
a fair average percentage of representation
for any railroad.
while any reference to my connection with
tho house OF Rothschild can only be construed
as compliment by me. it nevertheless is n
fact that | am chairman OF this corporation
through no account or influence Of theirs.
They are interested in the property, but are by
no means the largest holders. and was placed
in charge OF the company by vote Of the stock
holders TO protect and further its interests as
an investment pure and simple.
such has been my purpose. and 1 must
presume that the stockholders have been
satisfied or they would not have me in my
present position. for there is no influ-
enne or control OF stock which / per-
sonally or Messrs. Rothschilds direct which
could affect the result contrary TO the
general wishes of the shareholders. The cor
poration. under the management OF Milton II.
Smith as President, and the other officers of
the CONF any. including the Board Of Directors.
or myself. has no other duty in view than that
of conducting the l.. ~ y. railroad company as
a business enterprise. and we can only do this
by nursing the interests OF the territories
which it serves and promoting the welfare OF
those who use it as means OF tran srortation.
IT, in order to gain adherents to your pres
ent ambition you cndcavor to create preJu-
dice of the people against the J.. 4 y. Il. H.. and
try to excite luminosity and legislation dcstruct-
i've to the interests. tho l., y. R.R. Company
is driven to take the best means within the law
and its right, to meet such attacks and this il
is now doing Ivy bringing forth arguments
which are at its command to cOuntcrdct the
evil influences Of your unJustilable hostility
The company takes no pant IN politics. nor
does it intend 10. in order TO promote or undo
the present fortunes of any party orindividuals,
and its present attitude has no such purpose
in view. Believe me. yours respectfully
AUGUST BELMONT. Chairman, etc"