The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1902-11-26
STATEMENT BY
GEORGE COULD
Hartman and HaWIey Charged
With Bad Faith.
BITTER FIGHT FOR CONTROL
DEVELOPMENTS IN COLORADO
FUEL & IRON IMBRoGLIo.
BITTER FIGHT FOR CONTROL

ME YORK, Nov. 25.-The stock Of
Y the Colorado Fuel & Iron COM
pany. over the control of which
there is a contest in progress, made a
sensational rise today on the stock ex-
change, advancing points during a
squirt in the market. The stock was
sold at Sc at the close of the market
yesterday. It opened at SSH this morn
ing, but later went up to 81, and then
receded, selling at STA shortly before
2 O'Clock. It was reported today that
the conflicting interests were making
every effort to secure control of the
stock to vote at the annual meeting to
be held in Colorado on Dec. 10. Large
amounts of stock We're borrowed at
good rates with a proxy accompanying
each certificate, and purchases of stock
also were said to have been made out
side the exchange on the same basis.
The transfer books of the Colorado
Fuel & Iron company are closed and
stock purchased now does not carry
voting power except that a proxy ac-
companies it.
Edwin Hawley was asked today
whether the fight in Colorado Fuel
would extend to. the. western railroads,
and he replied; There is not any fight
that l know Of
Mr.. OSgood of the company was not
az his office when call was made there
today. and it was said that he was in
conference with George ]. Gould.
Statement by Mr.. Gould.
The following statement by Mr.. Gould
was given out at his Office tonight:
Il have read the very surprising cir
eular of the Gath, addressed by Messrs.
HaWley and Hartman to the stock
holders of the Colorado Fuel & Iron
company. In some respects it is di-
rect misstatement of facts, and in 9TH
ers an ingenious perversion of truth.
Several conferences were held, but
with no definite results. At one of
these conferences it was proposed to
ascertain whether a board could be
made up on an agreement with Mr.. Os-
good, assigning him two seats. This
] plan was proposed to Mr.. Osgood after
the conference on Nov 6. and was
abandoned as it became evident that
Mr.. OsgOod could elect a considerably
larger representation than that sug-
| gested. The matter was thus Left in a
wholly undetermined state when I left
for the south on Nov. IL No form
whatever, either of circular or of proxy,
was shown to me or received my ap-
prevail The conference referred to was
merely stage in negotiation and was
not conclusive on any point whatever.
During my absence in the south. I
| learned by wire that a circular and
form of prOxy-the one signed in my
name and the other including my name,
| jointly with those of Messrs. HawIey
| and Harriman-had been made to the
stockholders. Immediately upon my
return disavowed this proceeding in
a similar communication to Messrs.
HaWley and Hartman. copy of which
has already been made public.
Hawley in Bad Light.
''In a discussion with Mr.. Havvley on
Friday last, when he was asked by
whom and under whose instructions the
circular and proxy had been prepared,
he made no claim that had seen forms
! of either, but explained that instruc-
lions Tor their preparation had been
given, to counsel by a third party after
( the conference of Nov. 6. Mr.. Hawley
/ later definitely disclaimed any recOIlec-
ton of any such forms having been
! presented or having been the subject of
consideration at the conference His
/ circular indicates that he has been pre-
vailed upon to revise his recollection
4 upon this point.
/ 1.-The Hawley circular states: That
| at a meeting on Friday last Nov. 81.
Mr.. Gould proposed that the proxies
| already obtained should be divided be-
/ tween himself and the undersigned.
cumstances the proxies should be re-
/ turned
1.-The quality Of this statement will
/ appear from the facts. The facts are
/ that at a meeting in which Messrs.
/ Hawley, Hartman and myself partici-
/ pated, at which Mr.. Winslow s. Pierce
/ was present, on Thursday Iast-the dav
before the interview mentioned in the
/ ctrcular-Mr. Pierce, in an effort to
avoid the public discussion which would
! result from a return of the proxies,
suggested that the proxies should be
! divided or should be voted by a substi-
/ tute, for candidates selected on the
basis OF revision. He urged this
course both then and at an interview
/ with Mr.. Hawley on the following day,
/ when l expressed myself as willing to
| FOLLOW the course thus suggested for the
| reason thus urged. The suggestion
] was not mine; my Judgment and de-
! sire, expressed and repeated, was that
/ the proxies should be returned. I also
! requested from Mr.. Hawley an op-
| portunity to see the proxies received
/ This was declined.
Bad Faith Charged.
IT never saw the Joint circular or
proxy until my return from the south.
1t was then quite evident to me that
the action in sending out the circulars
| and proxies which had been taken IA
! excess of any understanding with me
| and without any word from me would
II permitted 70 stand. place in the hands
OF Messrs. Hawley and Hartman the
| unrestricted use of all proxies received
including those which might have been
received upon the faith of the associa-
( ton of my name-the proxies being so
/ worded as to be available to them as
a majority of the attorneys therein to
/ the exclusion of myself.
Il believed (and later developments
have confirmed this BELIEF that the ac-
ton in sending out these proxies was
taken with this precipitation and at
| this inconclusive stage in order 70 r7al-e
/ a public ucommittal which il was he