New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1903-06-25
IN CONTROL OF C. F. Il |.
OFFICIAL SETTLEMENT.
Acquisition By the "Go"ld-Roc6e-
TELLER Interest," announced.

a. .ho close of a long session OF the Board OIL
Directors of the Colorado Fuel ana IRON CO'"
many Yesterday afternoon an ofhclal Statement
was issued which explained the significance VI
the Jump of 81 points in the price OF 'he So
on tuesday and also throws new light on the
railroad situation East and west Inc c''u
lar. which announces the acquisition OF coh.io'
of this inportant property by the Gould-RocRe-
Teller Understanding George j. Gould ana
John D. Rockefeller-and the wlthdrd"di VI
John C. Osgood and his friends, leaving the
Hartman Hawley party as minority interest,"
IS follows:
The regular monthly meeting Of the f board 2f
was held the office of the company NO 81
Br9adWay NewYork at at, "5o ?; M ton as Chairman
of the board OF directors He stated that ne
thought such resignation proper in view Of the
TACT that large interests in the stock and seeuri-
ties of the company have been acquired oy mos
time Sh IN reSting the policy and managing the
nnrd t Sl ne e nteTe and that he expected
to continue interest in the company and TO
Mr.. Jerome resigned member of the poaTd
of directors. Mr.. Cass resigned as member OF tne
mttee. j. II. McClement was elected chairman of
and E. Parmelee Prentice were elected to fiji the
vacancies on the board Of directors ana a t
executive committee.
ing its paper on the 18th inst was thoroughly m
vestgated by the board AS a result of this tnveS-
the officers and clerks from all blame. as the fail
tween .e ~a5 he f NeYo qe and nd benRer
On account of the absence in Europe of three of
time for Mr. Osgood be in the West it was
necessary for him to retire temporarily from the
New-York resident takes his place, as to provide
other Colorado directors have retired in order to
make places for representatives of the new hnan-
1t is expected by all parties concerned that Mr.
Osgood Will return TO the board and to the execu-
McClement takes the Craftsmanship Of the board
ferest at the request Of Mr. osgood and other par
ties IN int Interest b GhsTma ut stated that
or employees of the company and that changes and
Of the as lar w ii Be from the the
force. and he desired that a public expression
ployes and all dependent upon the company might
feel that no interests would be jeopardized by the
MI Gould and Mr.: osgood stated that there is
ever between them or the interests with which they
are identified
The recent movement of the stock has been ac-
companied by reports. now explicitly denied of
contest for control between Mr.. Gould and
Chairman Osgood. and OF squeeze of the
shorts. The appearance of John D. Rockefeller
as the active associate of Mr.. Gould In the con-
troll of the company. although not absolutely
unexpected, will come as a surprise to Wall
Street. Mr.. Rockefeller's participation in the
operation has not recently been rumored and
denial has been made in hight quarters OF the
persistent reports OF his active sympathy with
and financial backing of the enterprises of Mr..
Gould or any of them.
1t may be remembered that last fall Mr..
Gould. E. H. Hartman and Edwin Hawley !
united in contest with Mr.. Osgood for control !
of the Colorado Fuel and Iron Company. and /
that subsequently Mr.. Gould repudiated the use |,
of his name in the request for proxies issued |
by Messrs. Hawley and Hartman and sent |
out independent form of proxy, If being re- |
ported the time that he had arrived at an |
understanding with Mr.. OsgOod Just before |
the annual election compromise was reached, |
by which the three parties received equal rep
resentation the board, and James H HYDE,
of this city, elected by mutual agreement
the thirteenth director. The Gould committee
named as directors. George ]. Gould, j. NJ
Herbert and George p. Butler and j. ii. NC
Clement both of the Stock Exchange firm OF
George P Butler & Bro; the Hawley-H Hartman
party chose H. Z. Huntington. Frank Trumbull
and Messrs Hartman and Hawley; ana the 4
Osgood committee selected John q Osgoon
7 A Kebler. A. C. CaSS and John L. Jerome.
Messrs Cass and Jerome, although now retlrlng
from the board are still officers in the company
the former being first vfce-pres1dent ana tne
latter third Ce-president and treasurer Mr..
McC1eu1ent who takes Mr. Osgoods place as
chairman of the board, has been since December
yice-president and controller OF the three
new directors one is the of John D. Rookie |
teller another Mr.. Prentice. is his son-1n-ldW'
and the third. Mr. Gates, has long been reCoS-
,ized as one of his personal friends.