The St. Louis Republic., 1900-09-30
RAILROAD NEWS
FROM ALL POINTS.
Injunction Proceedings Against
Cotton Belt Officials lnsti-
tutcd in New York.
RELATIVE T0 NEXT ELECTION.
Present Method Of Voting Claimed
10 BE Contrary 10 Constitution
and Laws Of Missouri
General Notes.
rrp-HLTr SPECIAL.

E-T-HLI~ SPECIAL.
%,rr York. sept. -a.-Au5r'w H1"S %;
T.,.a,, aaG u'r.~. stockholders "t the -.
louis Southwestern Railway company. rep
T..autiu1 more than .".hl4 shares oi STOCK
e.. the company. have brought through
-7r.r counsel. GGer,,.a-im-f. LnterneSeE *
Marshall. au action IN taa supreme 'our'
against Edwin Gou.t as president. ana jHs
other directors at the ,oulrrUy. 10 prevent
Ise election of the ticket wb.ca has been
chosen ay Air could. and IS 20 be voted
lsvar Al .i.e aUuaal meeting Of the directors
va.lh aas been saJ down t.r next fucsiaN
at 81. LuUis.
samuel I~-tr~rueyer late this evening OBJ
r.ig,H fr-m Judge scott 20. the supreme
Court an order Jo sho0 cause, rotufE2"ie
Monday. why an injunction should not he
:.=-.,: sg.:us. AIr. Gould and lis associates
r. ggsgg;l; them from conducting ,he annual
election ir slsh a mlUEe,. as 60 ignore me
r:-at- q The minority stockholders 10 Je
rarrs-e.tgG uu the E.art oi Directors.
According 10 the papers on which the ap-
p,.cat50u vas based the estate II Jay ':ouI1
G.ra~ ,aaa-1t -nnt5 Ct the 3s5.ssl shares q
stock. and has been controlling TIE company
through ur.rte@ obtained from year 10 year.
Th. state Constitution OF Missouri under
which the company IS organized. Trovida $
FOR cu-cEIatlv, voting ana does not permit
q. the election of directors III any otAer
way. TIi- is laT the purpose OF giving 10
minority stockholders representation On the
board.
Cumulative voting is explained in the Con-
stitutiou as emitting a S,uckhOlaer 10 cast
..s r!.srv votes as shan equal the number ot
SHARES he:E. multiplied by tE- number OF
airtc-erS To be elected. A. there are nins
directors of the company. this would entiue
each ons-a..,h o. the stock 70 elect d.
rector.
Thts was t,s situation until the annual
meeting or october >. lsi-t.
Al that ln,a-i.-." say the papers filed,
''AIr. Gould caused a resolution tc DE nitro
Gucad. amending The bylaws 81 AS 10 elect
three dare tors t.T ore Ne-ir. three Tor i"o
Years ana three f.. Jhr.e years. No notice
CE any such prey TaSc: An, ndH1ent hac been
given. although the law OF Missouri loi h4cS
-tny Amendment of tho bylaws Iu.g
made al least sixty days before the annual
T-.sstiEE- IEe Law also prpYiaeS ih-t every
notice Of q meeting SHaii state tn" object of
the meeting. The notice OF this annual
meeting stated that the object W4S 10 eject
r.ue directors for j1e ensuing year: A-t-e
WsS IJtAir- stated ABOUT e-ec'ihS NlEtt syE5
f.r risre than uE- year, nor about ainsiluln5
jne bylaws. The aif@Iiusut was pat
through ana the directors immediately
elected al Thr s.5Ge meeting.
There Wtg. tleu elected Edwin Gouii,
Eob-.G NJ Ga!Igway ana W.Eslew :. Pierce
l.arl RI TAYLOR aud Francis II. B!itt1n Tor
TWO YEAR. and Murray Carleton, Albert Il.
WOLF anu albert Loeb Tor one year Nr;
SLr.d tue-=LgpH ntG himself fe-eiectel
pr,siacug and named al Of his associate
directors Notice has now beef; gwen Tor
the annual meeting 10 he held ca Tuesday
next al -. Louis. at which only three drec-
LcEs viii be elected.
This. j. is charged viii give 20 Mr.. Could,
with ire proxies ne holds, the power 10
elect all r-a directors and 20 destroy the
IeETrse utatiCC of the minority stockholders.
as IL Will take more than oue-fourth OF the
stock row u eject one Dr the three tire2-
Tors. while under the s.Si',D vi eivcttrg
Es-Ir dire. tors each Cne-UiLth o. -he stock
could elect director. II j. charged that
This man .VUiatigE Of the bylaws J. a viola
zion Gf the Constitution and laws Of Mis-
scUri.
L was rumo:ed IN Wall street to-day that
the GCulGs are paying large premiums 10
E-TrDw the stock over election time, so as
1u get together i sufficient ~. nifty 70 elect
the three directors. The purpose Of the
GauIis in trying 10 eliminate all minority
Representation is stated to lee their desire
te merge tho s.. Louis Southwestern into
the Missouri Pacific system t:- lease or pur-
Cuase.