The Saint Paul globe., 1901-06-07
F|GRT ON COPPER Trust
HEATED MEETING OF AMAIGA-
MATED COMPANY sHAREHOLD-
ERS AT JERSEY CITY
CHARGES MADE OF FRAUD
Shares Represented at the Meeting,
More Than Requisite Two
Thirds, Vote Increase
In Capital Stock.

NEW YORK, June 6.-There was much
excitement at the Amalgamated Copper
company meeting in Jersey City to-ay
to vote over the proposed increase of
stock from $15.0e00O0 to $155, 900 0G0 The
injunction proceedings instituted by the
minority stockholders of the Boston
& Montana Copper company to prevent
the increase lent interest to the meet
ing Vice Chancellor Stevens had is
sued an order restraining the merger
but permitting today's meeting in order
that the sentiments of the stockholders
might be obtained. W. II. Corbin. eoun-
sci for the Amalgamated Copper COM
pany was elected chairman of the meer-
ing. c. II. Venner, of Boston, on behalf
of the opposition. moved to adjourn un-
tt June 20, but Mr. Corbin would not
entertain this motion. He directed the
controllers, r. D. Jordan, of Jersey City.
and LIE Grande Bouker to find out how
many shares were represented and by
whom. It was reported 5S1 $50 shares we g
represented out Of a total of 100000. more
than the required two-thirds Flavel
McGee and Isaac S. Taylor, representing
the opponents of the proposed absorption,
directed the fight in person. and were
aided by Mr.. Venner, who next moved
that the inspectors of election report S2e-
officially the number of stockholders rep
resented by proxy. and those Represented
of those stockholders represented by
James Stillman, Arthur Flower James
Bacon and James Jordan. This motion
was voted down. Mr.. Venner naxt
wanted a stock vote but Mr. Corbn
said there was no reason for that Mr.
Venner next moved that all proxies held
by Messrs. James Stinman Flower, Ba-
con and Jordan be rejected as Illegal.
This was also voted down and John A
Carver, counsel for the Amalgamated
company, then read a report by special
committee recommending the acquisition
Of the Boston & Montana and the Butte
& Boston Mining companies.
Mr. Venner moved to eject al the prox-
les OF the Stillman-Bacon faction on the
ground that the proxies had not been
properly stamped This was voted down.
AS the decisive vote was taken Mr.. Ven
uer made a speech declaring that the
proposed deal was scandalous,
III added 'If the court does not enjoin
this iniquitous proceeding, then l say we
have no further use for the courts.
The resolutions to increase the stock as
proposed, and to purchase the Boston e.
Montana and Butte & Boston companies.
wene passed by a vote of 5S4.S55 shares
to 904 Another resolution was passed
to the effect that the carrying out of the
two other resolutions be submitted to ap-
prevail of the chancery court. The pur-
chase price mentioned in the resoluti ton
is five and one-half shares of Amag ga
mated Steel for one share of Boston &
Montana stock and one and ONE third
shares Of Butte & Boston stock. By the
terms of the resolutions adopted, the
price of the two properties to be pur-
chased is placed at $SO,0OOOO0 The com
pany adjourned to meet on June 70 next
BILL FILED AT BOSTON
BOSTON. June GA bill in equity was
brought before the Massac chusettsv su-
preme court today by ]. Forester and
John MacGinrl!s against A. S. Bigelow,
w. J. Lass and w. S. Bigelow, stock
holders owning majority of Boston &
Montana stock, and oder, Peabody e.
Co The bin alleged conspiracy by the
defendants to despoil tine interests Of the
minority stockholders aus represented by
MacGonnis and Forester
The bill states that I[iGder, Peabody &.
Co and the Bigelows and Ladd have en-
tered into an unlawful agreement to ac-
quire all the Montana stock and ex-
change it for amalgamated stock, one to
four. The bin also alleged that the agree
ment is contrary to public policy, forbid
dem by common and statute law, that
the value of the Boston e. Montana stock
will be dlssipated and forfeited to the
state. A temporary injunction, pending
hearing and q permanent injunction
stopping the combination, was asked for.
Judge Knowlton granted an order of no
agree not to transfer the Montana stock
until after the hearing