Ottumwa semi-weekly courier. [volume] (Ottumwa, Iowa) 1899-1903, 1902-11-27
GIVES osGooD A CHANCE.
Colorado Fuel Controversy Takes
Surprisjnu Turn.


Ottumwa people who are interested
in the trouble of j. G. Osgood, presi-
dent of the Colorado Fuel & Iron Co.,
and formerly a resident of Ottumwa,
will be pleased to know that Mr.. Os-
goods efforts to retain control of his
company look brighter, according to
the following from Chicago newspa-
per printed this morning.
The circular issued by George J.
Gould announcing that his name was
used without authority in the Gould
Harriman-Hawley Colorado Fuel proxy
caused a mild sensation in the La
Sale street stock houses yesterday.
Mr.. Gould's action adds another com
plicaton to the situation with respect
to the contest for control of that prop
erty and one which makes the out
come of the coming meeting of stock
holders more difficult than ever to
dforecast.
Mr.. Gould declares that the proxy
forms bearing his name were issued
without his knowledge, consent or au-
thority and he disavows all RESPONSE
bility in the matter. He therefore re-
quests that all proxies bearing his
name and executed in response to the
call of November 10 be revoked. Mr..
Gould states, however, that as he
owns and controls substantial inter-
est in the Colorado fuel property he
invites the cooperation of the stock
holders at the coming election and en-
closes a new form of proxy which runs
to himself, George P. Butler and John
M. McClement.
low iv,rr {11 Il,
also was circulated by Edwin Hawley
and d. Fl. Hartman asking the stock.
holders to send their proxies to them.
They allege that Mr.. Gould agreed to
their plan and consented to act with
them in the matter They virtually
charge Mr.. Gould with breaking faith
by putting out the circular above re-
ferred to.
AS the matter now stands, no one is
able to say with any degree of GER
tainty just where the actual control of
| the Colorado Fuel company lies. There
appears to be three we'll defined par
ties or interests in the field seeking
such control and soliciting proxies
The Gates and Harriman-Hawley
people are believed to be still working
together. President Osgood evidently
has not give up the fight, notwith.
standing the several rebuffs which he
has received of late, and it is under.
stood that the New York banking
house of Ladenberg & Co., is working
in his interest. The third factor in the
situation is George j. Gould The in.
teresting question with respect to Mr.
Gould is as to wether he will endeavor
to make an independent fight for con
troll, or throw his strength to the Os,
good faction. Local opinion seemed
inclined toward the latter proposition
yesterday.
Counted on Gould Support.
John w. Gates is at present away
from New York, as is also Lambert
and Mitchell, the other two prominent
members of what is known as the
Gates faction in the Colorado Fuel
company. 1t is known, however, that
until recently all three of these men
counted on the support of Mr.. Gould at
the meeting of the stockholders to be
held on December 10. So confident, in
fact, has the party been of winning
control that they have offered Osgood
two of the thirteen directors Osgood,
however, refused the offer on the
! ground that he was entitled to sever.
al more members
| In spite of the increased uncertain
ty surrounding the outcome of the
meeting OF Colorado Fuel stockhold-
ers, the stock of that company was
decidedly strong yesterday, rising from
50 to 81, and closing at 90. This dis,
| play Of strength was accounted for in
| two ways. One was that there was
large short interest in the market
which had become frightened and
was trying to cover, and the other was
that there was a renewal of competi
tive buying. The books of the COM
pany are closed for the annual meet
ing, but it develops that under the rul-
| ing of the court certificates of stock
| can be presented at the meeting ant
voted regardless of whose name they
| stand in, provided the holder car
prove actual ownership. The theory
therefore is, that all the parties il
the field are trying still further tc
strengthen their position through pur
chase of stock in the open market.