The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1902-04-05

continued From First Page.
the parties aforesaid and their associate
stockholders and the persons who tha,o-
aIter became the officers and directors OF
tHe northern Securities company that a
S olpofatlon to be called the Northern
securities company should be organiZad
uhder the laws of the state of New Tar
sey with an authorized caDita1 STOOL,
when shouid be sufficient to represent
anu cover the Authorized clDital stool
OF the said Great Northern RaiiUCa,, 51[ IN
Pdny at valuation of $3.50 per share oP
SAID stock, and the authorized cani+o3
zoe ncock oil OF the said Northern Pacific Rail
" oy company at a valuation of Sl15 ne.
snare of said stock, and be enopo1,aled
~ It's articles to acquire the capitaI sfocG-
VI the TWO railway systems and TybiIa
, ~ IoL lnefGo1 TO exercise all the rights
p 'S ana privileges of ownership in
ciud1ng the right to vote thereon and -
cohuuct business in other states: and tbet
Upon the completion of the organization
o. o. SOU NO rIheLn Securities company. thai
company should exchange without othnr.
consideration its capital stock for A.
capital stock of said Great Nortbe1ro
ana Northern Pacific Railway connania.
e ott tlie eas1s OF one share of the capital
S ococh OF the Great Northern Railway
company for enc and S0-1O0 shares Of thc
cdpllal stock Of said Northern Sacnri
IleS company, and one share of the com
W. oCoch OF sald Northern Pacific Rail
of the capital stock Of SAID NortI sIlareS
cUIlLIeS company. e
~ 70 NOR effectually and certainly car
and PURPOSES e s of c unlawful plans
mn and his SAID 1885, =,
stockholders in the Great NS ortheL9
HH1Ga ory company, and said ]. Piernont
morgan and his said assoeia+a ~ e tPoiII
holdefs IN the Northern Pacifc Pa HiOoh
company, 1t was agreed between thorSS
actlng for themselves as the hoI5ar 80 ~
s sle majority Of the common stocks Of
SAID Northern Pacific RAILWAY cor,r1,, y
and on behalf of the directors n "a u
company, that the STE, 100000 of the nra
4erred stock of said Northern Pacifc
a atdnway company should be retired in
accordance with the provisions of tho
articles of Incorporation of said Nortb-
eIH racine Railway company and the
CONDITIONS and agreements under which
me same was issued; said retirement to
100 pi T6 on the LIST day of January,
tSoz. Inc funds for retiring said ure
Itfred STOCK to be raised by the iss11-
ahce by said Northern Pacific Railway
company OF It's negotiable bonds. bearing
aeun soy " L. R25 d dSg 1,o OF the aggregate
IN gold coin of the United States. with
interest thereon at the rate Of 4 nar
CENT per annum, payable seni-annuaIIv
loo 1I ilhe goa com, from and after Jan. /
I9VZ. Inc said bonds, however, TO b.
ccnyert1ble at the option of eithar the
hoIGefs thereof, or said railway com
Pany' INTO shares of the common stock
OF said Northern Pacific RAILWAY con-
pany at the rate of one share If stocI-
Tor each 800 of the principal sum OF
such ponds, and the said common stock
when SO taken in exchange for such
bonds, to be converted into stock ~
said Northern Securities con9pang nnon
the basis of one share for each one and
15-lO0 shares of stock of said Northern
Securities company.
Some stockholders Objected.
That said preferred stock could only
pc retired by resolution of the hoard IF
directors OF said Northern Pacific Rail
way company; that a very large major
ity Oh SAID preferred stock was owned
Ey certain individuals who ware an
posed 10 the agreement and plan herei,
referred TO relative to turning over the
mana genent and control of said North
ern Pac1fc Railway company to said
Northern Securities company. and the
noldlng Of its stock by said Northern
securities company; that the owners If
SAD preferred stock so opposed to said
agreement and plan were also owners of
SuHlc1ent of the common stock of said
northern Pacific Railway COMPANY ia
give them small majority of the total
Gap;taI STOCK Of said Northern Pacific
railway company; thus making it neces-
Sdfy, IN order to carry out the plan and
agreement herein set forth and 10 vest
tne management and control of said
NoTtnern racine Railway company In
sa1d northern Securities company in the
manner and for the purposes herein al
legged; to retire said preferred stock: all
OF winch was Well known to the board
of directors of said Northern Pacifi.
Railway company and to said J. Pierpont
Morgan and his associate Stockholders
OF said Northern Pacific Railway com
pany, as well as said Northern Securf-
ties company.
That on or about the 18th day Of No
vember, 1901, the board OF directors Of
std N0rthern Pacific Railway cAnanaax