New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1902-08-27
OSGOOD GIVES HIS SIDE
THE CHIEF PARTIES IN THE c. F. AND
l. DISPUTE HERE-GATES HAS
NOTHING TO SAY.

John c Osgood. president of the Colorado
Fuel and Iron Company, and John W Gates
who tried to get control Of the company at the
annual meeting in Denver, returned to this city
yesterday morning but not in company. 1t was
ascertained that, while Mr.. Osgood travelled on
the New-York CentraTs Twentieth Century
Limited, Mr.. Gates came on the Pennsylvania
fast train. Mr. Osgood, after reaching his ONCE
at No. II Broadway prepared a statement on
the situation. Mr.. Gates in his office at
No. 10 Wall-st for several hours. but he SAID
he did not care TO talk about the Colorado Fuel
and Iron Company. He went to j. Plerpoht
Morgan's office and talked with Mr. Morgan
about the legal muddle into which the affairs OF
the company had fallen. When he was in Den
Yer Mr.. Gates denied that he working TO
| turn the Colorado Fuel and Iron Company over
to the United States Steel Corporation.
Charles G. Gates said in the afternoon that
Harris Gates & Co. had sold considerable stock
| of the Colorado Fuel and Iron Company for
themselves and their customers recently. There
was slight boom in the stock yesterday, and 1t
was forced up above -. closing shade below
-
The stock is bound to go lower" Charles c.
Gates said. unless the injunction now pending
in Colorado is dissolved
He was asked about a report that an effort
might be made 70 have the stock taken off the
said: There has been talk about it at
the Exchange. but no definite action in that
direction is contemplated, believe The stock
might be taken off the list here if the courts
hold that the stock must be registered at the
office in Denver to give buyers the right to vote
it. something that never has been done before
Mr. Oseood's statement reviewed the litiga-
ton that forced the Colorado Fuel and iron
Company's officials to show the books at Den
Yer, and then added:
Having in three suits and numerous written de,
mands insisted that book should he kept ana .
stock list prepared in aGe9rdaanGe W'a me ano
Blair brought a suit in the United States District
Court before Judge Rener. Of Cheyfnne W{ 70
enjoin the board of directors ana oncefS 81 ' ~
Colorado Fuel and Company from refusing 70
list 5repared fr5m the Hew-York books is; in
effect to nufy and Violate the COLORADO ia% Sf
They also asked tc have declared VOID a oylaw
which had been adopted oy be lne nn 09I meeting
Judge Rener's decision was against Mf; .aalf 10
a ane that 6e Stock list should the
| Objectionable bylaw was regularly adopted and
| was proper provision for the orderly conducl Oh
given about O'clock on Tuesday night. the annual
meeting being set for the oIoWIng DAY al n T, M
ton was granted by the District Court OF AraPa-
BUSINESS than TO adjourn. This was served by the
Sheriff before the meeting was called 10 opae t
ing was adjourned subject TO the order or the cou.
1 The ground which the l!lJuilCtioi
| asked for was the failure keep book and pre-
| mare LIST in accordance with the laws OF COlo-
RADIO by reason of which the rights OF stockholders
| 10 vote could not then be determined.
The matter is now in the hands OF the court
| granting the injunction. Presumably wnen s oooa
and stock list have been prepared IN aGcor9arcs
with the Laws OF Colorado the court Will order
| now meeting 10 called for the election o,
6irectors In the mean time the old board OF
directors will continue under the provisions or me
articles Of Incorporation and bylaws, 10 the eLIect
that they shall hold office till their successors are
| elected. -. ... - ,,,.a-,or
purpose on the part of the directors in failing 70
couinIv with the Colorado law in relation 10 reg
strY and transfers OF stock In the eye or the Jaw
All Of the directors and stockholders are csargsi
| Nth knowledge OF the law. AS matter OF IaC!.
no stakeholder ever before applied TO have ms
rtocL registered or transferred In COLORADO; ana
the provisions of the had never been caiIeH 20
the attention of the directors To the same eSent
tbs+ snv have been negligent. Messrs- Gates BAR
Nitcheil and Lambert, members of the BOARD
hav bee negligent.