The Billings gazette. [volume] (Billings, Mont.) 1896-1919, 1902-10-17
ANNUAL MEETING.

/ HtHaM AININ0H. " SINS- H.t
Stockholders of Big Ditch Company
Elect New Officers. /,
From Tuesdays Daily Gazette.
The annual meeting Of the stock
holders of the Big Ditch company con-
vened at the court house at 3 o'clock
yesterday afternoon. A large part of
the existing stock was represented.
Paul Mccormick, president of the
company, presided. The report of 3.
B. Hastings, secretary and treasurer,
covering a period of n year ending
October 10, 1902, was read by that
gentleman. The report showed that
during the year the sum Of $8,69O.32
had been expended in making repairs
and engagements to the ditch. AS a
resultant benefit the report further
showed that the capacity of the ditch
had been increased from 10000 inches,
it's capacity the previous year, to 49,
900 inches. The total assessments
for the year amounted to $6,400, leav-
ing a number of bills payable, to be
provided for by another assessment.
Superintendent Searles made an ex-
tensive report covering the repairs
that had been made during the year
and the report was adopted. The SUI
p~erintendent recommended further re-
pairs, such as the construction of new
headgates, etc., which were taken in
to consideration by the stockholders.
The matter of the election of trus.
tees then came up and here a hitch
occurred. Several hundred shares of
the company's stock owned by farmers
along the line of the ditch have at
one time and another been transferred
to one Graham, a capitalist OF New
York City, to secure him on various
sums of money loaned the ranchmen.
Mr.. Graham sent a voting proxy on
hsi shares to H. B. Palmer of Helena.
Mr.. Palmer was in the city yester-
day forenoon, but concluded he would
not have time to stay for the meeting
and turned his proxy from Graham
over to Austin North with an indorse-
ment instructing Mr.. North to vote the
shares. Two directors had already
been elected when Mr.. North attempt
ed to vote Graham's shares.
President Mccormick stated that
~ <Jo,,L%oJ Tho locality nf c11nhr a nrn-
ceeding, and several other stockhold-
ers endorsed his opinion, and on mo-
ton a recess was taken to 1880, Pres
ident Mccormick announcing that he
would seek legal advice in the mean
time.
When the meeting re-convened Mr..
Goddard was present by invitation of
the president, and gave an opinion On
the matter in which he stated in sub
stance that under the law as he in
t%erpreted the same, Mr.. Palmer had
no power or authority to give a proxy
on shares owned by Mr.. Graham. That
if Palmer had remained and voted
the stock his action therein would
have been perfectly legal, but he had
no power vested in him to transfer
the proxy to a third person.
1t was therefore decided by the
meeting that the Graham stock could
not be voted and it was thrown out.
The election of trustees then pro-
ceeded and resulted as follows:
/. Upper district. w. Cole and J.. G..
Galloway.
Laurel district-Charles King and
]. w. Allard.
Billings district-C. c. S%anderson,
]. T. Graham and F. l.. Summers.
The trustees Immediately held a
meeting and elected the following
named officers for the coming year:
President, c. C. Sanderson; vice pres
ident, j. w. Cole; secretary and treas
urer, E. B. Hastings; superintendent,
E. P. Searles.
On motion an assessment of 5 per
cent was levied on all stock of the
company, the sum collected under the
same to be used in meeting deficiencies
in last years report and for further
improving the ditch.
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