Evening star. [volume] (Washington, D.C.) 1854-1972, 1904-04-21
FAVORED DISTRIBUTION.
Northern Securities Stockholders Cast
Decisive Vote.

NEW YORK, April 21.-The stockholders
of the Northern Securities Company held
a special meeting in Hoboken. N. j., today
to vote on the proposed pro rata plan OF
distribution of assets as recommended by
the directors officials Of the company who
were present included President J. ]. Hill.
Fourth Vice President and General Coun-
sci w. p. Clough. Secretary e. T. Nichols
and Nicholas Terhune. a director. Others
present included WInslow s. Pierce and X.
8. Lovett, the legal representatives of the
Hartman interests. Less than half
dozen stockholders attended the meeting.
One of these, George l.. Richards of
Washington d. c.. said he owned 100
shares of stock and declared himself be-
fore the meeting opened in favor OF the
pro rata liquidation plan.
President Hill presided. and Secretary
Nichols read the call for today's meeting.
There was then brief whispered con-
ference between President Hill and Mr..
Pierce. The latter read formal protest
in which he said that the Northern Sc
curities Company Is not now and never
was the owner of the stock sold by e. H.
Hartman and Winslow 8. Pierce, and that
the Northern Securities Company had no
right to distribute the stock under the
plan proposed.
There was then another whispered con-
ference between President Hill and Messrs.
Pierce and Lovett. In the meantime in
spectors had been appointed to count the
number of shares represented at the meet
ing.
Messrs. Pierce and Lovett retired from
the meeting and Secretary Nichols then
read the minutes of last annual meeting
and of the several meetings of the execu-
tive committee of the Northern Securities
Company. These were adopted without a
dissenting voice. Stakeholder Richards
wanted to know by what process of calcu-
1ation the figures $50 81 for Northern Pa
been arrived at.
by ratable distribution" said Vice Presi-
dent Clough, and Mr. Richards was salts
fed. Mr.. Richards then voted his 100
shares for the announced plan of distribu-
ton. No other outside stockhoider ap-
peared to have any interest in the matter.
The polls were closed shortly before noon,
and when the vote was announced 1t ap-
peared that of the 100000 shares of
Northern Securities stock total of 2,944,-
T40 shares had been voted in favor of the
announced plan for the distribution of the
holdings of railroad stocks and none
against.
The meeting adjourned soon after the
vote was counted. President Hill said the
result was as he expected it would be.
Dismissed Venner Application.
Justice MacLean, in the supreme court,
dismissed the application of c. H. Venner
& Co. for an injunction to prevent the
Equitable Trust Company from accepting
the Northern Pacific and Great Northern
stocks held by the Northern Securities
Company under the Hill plan.
When the case was called counsel for the
plaintiffs asked that he be allowed to with
draw his motion, on the ground that the
Equitable Trust Company had brought a
similar suit in New Jersey, In which the
questions at issue would be determined
William ID. Guthrie, for the Oregon Short
Line Railway Company, and cambridge
Colby, for the Equitable Trust Company,
agreed with Mr.. Fosters proposition of
withdrawal
Ex-Secretary of War Elihu Root, for the
Northern Securities Company. asked that
the application for the injunction be denied.
Messrs. Guthrie and Colby said that this
would perhaps he held to be equivalent to
a denial on the merits of the case, which
they did not wish. and Mr.. Foster counsel
for the plaintiffs, said that he would con-
sent to have his motion dismissed, but not
denied.
Justice MacLean then dismissed the APP
plication for an Injunction.