The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-04-22
.HARR|MAN'S PROTEST IS
IGNORED At MEETING OF
JAMES J. HILLS MERGER
Northern Securities Company Pro-
ceeds with Pro Rata Plan
of Distribution.
FEW PERSONS PRESENT
But 2,o44,74o Shares of Stock Are
Voted-Injunction Application
Is Dismissed.
FEW PERSONS PRESEN'

NEW YORK. April 21.-The stockholders
of the Northern Securities Company held
special meeting in Hoboken, n. j., to-day
to vote on the proposed pro rata plan of
distribution of assets as recommended by
the directors officials of the COM
pany. who were present. included.
President j. ]. Hill, fourth vice president,
and General Counsel w. p. Clough. Secre-
tary E. T. Nichols and Nicholas Terhune,
a director. Others present included Winslow
S. Pierce and r. S. Lovett, the legal repre-
sentatives of the Hartman interests. Less
than half a 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 before the meeting opened in favor
of the pro rata liquidation PLAN
President Hill presided and Secretary
Nichols read the call for to-days meeting.
There was then brief whispered confer
ence between President Hill and Mr.. Pierce.
The latter read a formal protest II fol-
lows:
Notice is hereby given to the special
meeting of stockholders of the Northern
Securities Company that the undersigned
claim that the shares of the capital stock
of the Northern Pacific Railroad Company
delivered by Edward II. Hartman and
Winslow Pierce to the Northen Securities
Company on or about Nov. Is, 1901, and con-
sisting of s37,0230 900 par value of the COM
mon stock of said railway company, and
s41, 0S5, 900 par value of the preferred stock
of said railway company. and the common
stock into which said preferred stock has
been converted. belong to the Oregon Short
line Railroad Company as the legal and
equitable owner thereof; that the Northern
Securities Company is not now and never
became the owner thereof, but is simply
custodian and that the undersigned are
entitled to the return and delivery to them
of certificates for said stock of the Northern
Pacific Railway Company, upon the sur
the capital stock of the Northern Securi-
ties Company. and the payment of sS.9l5.-
629 in cash received by them on such de-
livery of said Northern Pacific stock TO
the Northern Securities Company, as afore-
said. Notice is further given that the said
Northern Securities Company has no right
TO distribute the said Northern Pacific
stock pro rata among the stockholders of
the Northern Securities Company, or other
wise dispose Of the same, except to return
the same to the undersigned" Then fol-
lows the formal notice of the suit begun
before Judge Kirkpatrick in New Jersey,
After a whispered conference Messrs.
Pierce and Lovett retired from the meeting
the last annual meeting and of the sew
eral meetings of the executive committee of
the Northern Securities Company. These
were adopted without a dissenting voice.
Stakeholder Richards wanted to know by
what process of calculation the figures
1927 for Northern Pacific and s9017 for
Great Northern had been arrived at.
by ratable distribution" said Vice Pres
ident Clough. and Mr.. Richards was salts
fed.
Mr.. Richards then voted his 100 shares
Tor tla <l,-<-
other outside stakeholder appeared to have
any interest in the matter. The polls were
closed shortly before noon, and when the
vote was announced it appeared that of the
S.950.ooO shares of Northern Securities
stock total of 2944,740 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 he expected il would be.