Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1904-10-25
Call Issued by Russell sage's
Man to Recover Certain
Money
HOLDERS WILL VOTE THE BONDS
This Move Makes It Uncertain Again
AS To Who Owns Or Controls The
Road - Rand Claims That Profits
Were Earned But Dividends Have
Not Been Paid.

~" lViN NICl. LD.--It. u. M. ttiIlQ,
who used to be Russell Sage's railroad
expert, has issued call for deposit
of the stock and bonds of the Des
MONIES and TT. Dodge Railroad Com
pany, with the kniekerbocker Trust
Company. Mr. Rand states that he has
been requested by large interests in the
preferred and common stock of the
company to take some action for the
protection of their interests and for the
improperly used, and the amounts due
from the Rock Island and Pacific Rail-
way Company which have not been
paid as required by the terms of the
lease In 1887.
The lease, Mr.. Rand states, required
that the thirty per cent of the gross
earnings should be paid to the Des
MONIES & Ft. Dodge railway annual
ly. Mr.. Rand also says: "Of the total
amount received by the Des Moines and
FIT. Dodge in eighteen years, there was
left after paying interest total
amount of some $917,391 almost enough
to have paid Z per cent annually
on the preferred stock or after paying
the dividends they did pay on the pre-
ferred stock there was some $345,9S2
which might have gone to the common
stockholders but was not paid to them
and up to the present time remains I'M
accounted for by the parties In charge
Mr.. Rand, in his call, makes the in-
teresting statement that the Des
Moines & Ft. Dodge bonds have q
right to vote emitting them to a voice
to what shall be done with their inter-
est" He also says that three railroads
want the property.
Des Moines Oct 25-The action Of
Mr.. Rand, if correctly outlined in the
dispatch from New York will throw the
future OF the Des Moines & TT. Dodge
which has seemed so serene into Il
state of chaos. 1t is believed to be
purely in the interests of the Rock Is
land railway, the right to vote bonds"
being practically the right of the latter
to determine the disposition Of the
road.
AT the last annual meeting Of the
Des Moines Il Eft. Dodge, held in the
Office of Carroll Wright last June, the
Hawley stock was voted In full, 1T was
claimed Carroll Wright and Judge
John I. Ollie only voted a few shares
OF the Rock Island holdings altho they
held proxies for the entire amount.
They did not attempt to vote the bonds
altho 1t was then claimed they We're en-
titled to representation.
More or less stock Of the road has
changed hands since then and 1T is
further said the Rock Island has add
ed materially to the $2346,000 worth
of the bonds held by them. the re-
nlainder of the issue which was about
$4,000, 900 being distributed among sew
eral parties.
1t is believed by many that the stock
held by the Rock Island in addition to
the bonds, if the latter are allowed to
vote will defeat all the stock that the
IIawley interests can muster.
Carroll Wright, who has represented
the Rock Island locally In the deal, was
out of the city last night, and could not
be seen regarding the proposition.
The suit causes decided surprise in
Les MOlflGS. IL Has UCCu SCiiCloily NC
lieved that the future Of the road was
decided for all time. and that the Haw-
lev interests. the M. & st. L. and the
Iowa Central, in fact, Vice President
Day Of the latter road first announced
1t would take over the road January l,
when the Rock Island lease expires.
Recent orders to officials Of the Des
Moines Valley division have Indicated
that the traffic department of the road
was preparing to turn 1t over to the
M. & st. L. Only few days ago did
M. Sweeney, general superintendent OF
the Iowa Central and the M. & st. L.
announce that the Rock Island had
been accorded wheelage privileges over
the road, and that everything would
be lovely. In addition to this, Rock
Island officials have begun to gather
the 1859 cars and fourteen engines
which belonged to the line when 1T was
turned over to the Rock Island.
The last move throws this all up in
the air and it is possible that the Rock
Island has another little coup to re-
tain control of the road, and will GUST
Mr.. Hawley as they did Mr.. Hooley.
1t is not known that Mr.. Rand or
~r czzo a, ooppaotod with tho Rook