The sun. [volume] (New York [N.Y.]) 1833-1916, 1903-03-19

OF the Union Pacific board, and all import
ant offices consolidated II the courts
permit this, then justice In America is dead
JAMES r. KEENE.'
There was Wall Street report that a
possibility existed Of another injuno ton
proceeding, the plaintiffs in this case, how
ever, TO be the Union Pacific interests II
was asserted that under the laws of Ken
lucky any holder Of the stock OF a COR
porauon who can be shown to be using his
stock for purpose prejudcial to the public
welfare can be enjoined from voting that
stock, and that under this law the Union
Pacific interests would endeavor to enjoin
the voting Of the stock in the Keene pool.
a representative Of the Union Pacific said
that he did not know whether any such
proceedings were contemplated or not.
The matter was entirely in the hands OF the
lawyers, and II was for them TO take what
ever proceedings they saw fit.
The indications OF the day In the Street
pointed 10 the existence OF a large short
interest and the stock was loaned early
In the day at premiums Of ons-sixteenth
and one-eighth OF I per cent. for delivery
In tho afternoon. The stock was also re-
ported to have been loaned at q premium
for delivery to-day: 1t is known that quite
q large amount Of shorts" are represented
by foreign arbitrage houses to which
Southern Pacific stock Is coming on steam
ships due the latter part of this week and
early next week. This demand, while only
stock loan crowd. The suggestion was
also made in a quarter friendly 70 the Union
Pacific interests that perhaps some OF the
members OF the keene pool might have gone
short against their interest in the pool
and were now endeavonng TO cover these
shorts. From the same source also the
suggestion was made that a movement
iii southern Pacific stock such a. had co.
CURED presented an excellent opportunity
for the unloading OF some Of the pool hold
ings and that, In fact, 1t might have been
manipulated for that very purpose.
Some notice was paid to the appearance
on the tape, i'll at least two instances, OF
transactions in Southern Pacific stock
-seller is and seller So 1t was recalled
that at the time OF the last previous Wall
Street contest for the control OF a company
the fight over Colorado Fuel and Iron
there were a lot OF similar transactions for
future delivery before the transfer books
closed for the meeting, and Us IL turned out
these sales were very profitable.
No date has yet been fixed for the closing
OF the transfer books of the Southern Pacific
company, but they will probably be closed
shortly after the hearing on April al Cin-
by Talbot j. Taylor i Co., Mr.. keene 1
brokers, TO prevent the voting by the Union
Pacific interests OF their block OF So 900 900
of Southern Pacific stock. II was thought
yesterday that the probable date OF the
closing OF the books would be April 3. The
statement was made, however, that actually
no necessity exists for the closing OF the
books at ali. il the Union Pacific Interests
should decide not to close them. These
for use at the meeting, which Is scheduled
for April 8. The proxy COMMITTEES Is com
posed Of Z. ii. Hartman, Alexander +.
Humphrey and Maxwell Evarts.