New-York tribune., 1901-06-14
Au4LGAuATED COPPER HEARING.
vrcE-ct5ANcFTJ,oR SAYS RESIGNATION OF
DIRECTORS ELIMINATES SALIENT CUES
TIoN IN SUPPLEMENTAL BILL.

A hearing in the suit Of the c. II. Venner Com
pany of Boston. and Alvin o. Geer to prevent the
Amagamated Copper Company from acquiring ihe
Boston and Montana Company and the Butte and
Boston Company was held before Vice-Chancellor
Stevens at Newark, yesterday. Prior to the hear
ing Charlotte f. Smith. of New-York, who owns
ono hundred shares of Amalgamated Copper stock,
which she claims 10 have bought In the open mar
ket in November last, was made complainant.
Mr. Iindabury presented the companys answer
10 the charges Of the compainants He denied that
the directors of the Amalgamated Copper Com
pany owned 173 600 shares of the Butte and Boston
stock now or at any time. The answer 1urther
denies that the defendants or now are inter
ested in the Boston and Montana Company. ex-
cept Henry H. Rogers and William G. Rockefeller,
each OF whom has for a long time owned and now
owns $50 shares OF that companys stock In ad-
dition, the answer denies that when the supple
mental bill filed at the present time. sur
fclent majority of the stock Of the defendant COM
pany was is now controlled by the directors OF
the latter TO approve at a stockholders meeting
the resolution OF the directors TO increase the capt.
tai stock of the defendant company, as 1t was
proposed TO do in the notice sent out 10 stock
holders Neither II is asserted. was the majority
sufficient approve the offer made by Kidder, Pea
body & Co. in relation to the Butte and Boston
and Montana companies.
Attached TO the answer was an additional afH-
dayit by William G. Rockefeller 10 the effect that
he with Henry II. Rogers and Albert c. Burrage
resigned directors of the AmaGamated COM
pany a meeting of the board held on Tuesday
last. 1t stated that upon the acceptance of the
designations the vacancies filled by the cleo
tion directors of George F. Baker. president OF
the First National Bank OF New-York; Frederic
Cromwell. treasurer of the Mutual Life Insurance
Company, and Walter G. Oakman. president of the
Guarantee Trust Company of New-York.
In the bill Of complaint George Law
renee said that the Amalgamated Copper Company
had completed the disputed merger in all except
form. The bill of complaint, he said. charged that
175 900 shares of stock of the Butte and Boston
Company had been purchased and were now owned
by the defendant He still persisted in that charge.
for he contended that it was true, notwithstand-
ing the multitude of specific denying affidavts put
in by the defendant company and the various other
parties to the suit Mr.. Lawrence attacked the
credit OF the defendants answer. maintaining that
il did not dispose of the salient points at issue
Former Judge Isaac s. Taylor, counsel for Geer,
took issue with Mr.. Lindabury when the latter
took exception Mr.. Lawrences assertion that
the market value of the stocks in question had no
bearing upon the issue now before the court and
vice versa.
IF ! am mistaken interposed the Vice
Chancellor. THE Court of Errors and Appeals has
laid considerable stress upon the market values OF
otherwise be fixed" This question caused long
discussion. which the Vice-Chancellor ended by
saying: 1T seems to that most of the questions
before me have already been decided by Vice
bill The salient question which is especially
dwelt upon In the supplemental bill is, II seems TO
me. eliminated by the resignation of these direc-
tors (Messrs Rogers. Rockefeller and BurraGe)-
I don't see how 1t Is possible for 10 pass upon
questions already passed upon by Vice Chancellor
Pitney." The case will be continued this morning.