New-York tribune., 1902-08-28
SAYS OSGOOD BROKE WORD
GATES COMMITTEE GIVES ITS VERSION
OF COLORADO FUEL FIGHT.

DECLARES II BECAME SATISFIED THAT
SUBSIDIARY COMPANIES WERE Fos-
TERED FoR BENEFIT OF os-
GOOD PARTY.
John W Gates John ] Mitchell and James \.
Blair yesterday sent cut q long statement ad-
dressed 10 the stockholders Of the Colorado Fuel
and Iron Company who had given proxies 20
them 10 vote At the annual meeting of the com
many on August 20 at Denver. The statement
apparently was intended 10 explain why the
committee had been unable 20 use the proxies,
e9- Il was fun Of information about the iriga-
-io7 thar preceded the meeting L was prepared
n The office Of Eornblower. Byrne. Miller &
Potter. the committees attorneys. Incidentally
the statement was an attack on John c. Osgood,
president Of the Colorado Fuel and Iron Com
pany-
Il Is alleged al the outset that the movement
hz ~. Gates and his associates TO take the
company out OF the control Of M Osgood was
due IN part 70 the deliberate violation by Nj
Osgood Of written agreement entered into be
fore the last G90D annual meeting Of the com
panv. covering the personnel Of the board OF
directors TO be chosen at that meeting" Then It
g said that Nj. Gates and his associates be
came satisfied that number OF subsidiary com
NAMES we're being sostered. more or less al the
exoense q the Colorado Fuel and Iron Com
psrv and for the benefit Of M Osgood and his
friends.
The statement describes II detail the method
n 1Lr. Gates and MS associates n obtaining
proxies for the recent annual meeting, and tells
If the acts Of Mr.. Osgood and other officials OF
-re company which. according to the statement
made litigation necessary in advance OF the
meeting Changes in the bylaws. Il is declared.
were made by AIr. Osgood and the directors act
ing with him so as 10 make their control Of the
meeting absolute On this point the statement
SAYS.
COUNTING OF = QUORUM
-as secretary. one Of their number E. was given given
The rE1t 70 ooI2J qI3E122 OF 70 eE rsGS re Teat
s-s-+1-- These feLlers and inspectors were given
- srs7l-,-@ right slsb7ecC 70 review only BY the
courts 10 inspect the proxies, determine the rep
votes east and determine ne result 4! ProH!es PrH
Ee-9 ~ s5 Gls 'z be sTsI5tes 81 Colorado require
cumulative voting a corporate elections sF3o %
Ts-s5 T5z o1ponerIs q the mana cement were re.
-S.-az = ossf rbs5r votes before 6eng advised u
- -,-1nse ~ votes rhat the management. as
--.-SS-ss1--e5 ~ rs presiding officer and telers
conceded they could r-ghrtuly cast
The statement describes the suits which were
brought in Colorado in the effort TO compel the
officials Of the company TO recognize the proxies
representing 191. .609 OF The 25S.17S outstand-
ing shares Of the company. and says Of the by
1zw passed BY the directors On August l3:
7 vas an entirely new bylaw. whereby the sec7e-
tz-y- was directed 70 prepare q stocA1oeA % c0
4" 5 - e-+e- III original issues OF stock
ard all transfers q such orglne- Issues, pLoESe 5
T-ior 70 TIE demand for the entry Of 5 same ana
surrendered 10 Lae secretary LF'l 1,g5a r. i'm
such demand: This as you VII ses, 80 s5e-e
EC-Ea- Who rad rot purchased his stock from a?
-Sl-al bo}ze- within sixtv days and had not still
y 5e ,dsssssion the certizcsts issued the first
holder oT the stock 70 secure ~5-0 = y
rsrne upon The Colorado stockoook Il aEaounteo s
70
ualy's Shareholders
INJUNCTION PREVENTED CONTROL
The statement saws that the committee would
have been able 10 control the meeting, but an
INJUNCTION was obtained by George +. Bartlelt'
= e--rIove Of company subordinate to the
Colorado Fuel and Iron Company, who acted
- rhe i.s-igation Of the cornpaay's officers.
mis- Injunction was granted. The statement
e-vs on the technical ground that The secretary
had -o- published any notce Of the meeting II
. r7a---z- -are~ an omission made Intentionally
f1- The purpose OF defeating the meeting DsFUts
sherlTs were IN attendance. i Is o5c-s.eC' -
see that the meeting was adjourned Nj Us
good adjourned the meeting WllHoaC to-.- Gaze -
spite Of the protest Of the committees atLorhSss-
The statement says Il c-oS-r-5-
Although more than one officer q the company
ma 5oTiry the coInparys stock arC altLocgh Nj
Ozg0od hirns IL never vsnUursd 10 deny THIS tact
= 55-,e5 s-,s9ztIa n +re Iszr 70 retain his
control We should add that we were approaSneC
proposition i1vo, Cd the purchase O5 the entire cap
fral stock o. each o. the subsidiary corporations
zbOve mentioned and rEt retention OF the control
q Cne Colorado Fuel and Iron Company by the
present mana cement peCC.1- -Ce liking Of prices
70 De paid. n view OF the knowledge tnar We had
hy this time acquired @ the character and methods
q t1aJ management anC because We oel-eFeo l4dt
his very settlement had been the objective point
The = cLlcE pursued uE the management, We cid
rot feel Ike entertaining such . proposition.
ny Csgood glanced over 2 copy Of The state
Teut yesterday afternoon and said: At hasty
-saGlCg I can only say that this statement IS
-r y-7c l-zr70
representation Cf facts may reply 70 II later.
A telegram received by Nr- OsgOod has
amused him. L read:
'ConEra tulaciors- See Matthew. sixteenth
chapter, eighteenth verse"
When he looked Up the verse Mr.. Osgood read:
And the gates OF he'll shall not prevail against
TT
Colorado Fuel and Iron Conlpany's stock was
active IN the market again yesterday. and went
from IS up 70 50. Nearly 1900 shares Of the
stock changed hands