The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1904-04-22
HILLS PLAN OF
D'STR BUTTON
Meeting of Northern Securities
Company Held.
HARTMAN PARTY WITHDREW
DECLARATION MADE BY ATToR-
NEY FIERCE.

New YORK., April 21.-At the Northern
Securities meeting today 2,944.74O shares
We're voted in favor of the distribution
plan, and none against. The total num-
Der OF shares issued by the company
was $3.50, 900.
The stockholders Of the Northern Sc
curities company held a special meet
ing in Hoboken, n. j.. today to vote
on the proposed pro rata plan of dis
tribuuon of assets as recommended by
the directors. Officials of the company
who were present included President
j J. Hill, Fourth Vice President and
General Counsel W. 2. CIOugh, 'Secreta-
~ F. T Nichols and Nicholas Terhune
a director. Others present included
Winslow $. Pierce and r. s. LoVett
the legar representative of the Harri-
man interests. Less than half a dozen
stockholders attended the meeting. One
Of these. George L. Richards of Wash
ingtOn, 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 Secre-
tary Nichols read the call for todays
meeting. There was then a brief whis-
pered conference between President
Hill and Mr. Pierce. The latter read a
formal protest, in which he said that
the Northern Securities company is
not now. and never was, the owner of
the stock sold by Z. II. Hartman and
WinslOw Pierce, and that the Northern
Securities company had no right to dis
tribute the stock under the plan pro-
posed. There then was another Whis-
pered conference between President
Hill and Messrs- Pierce and Lovett. In
the meantime inspectors had been APP
pointed to count the number of shares
represented at the meeting.
Plan Approved. ef.
Messrs. Pierce and Lovett retired
from the meeting and Secretary Mich
olas then read the minutes of the last
annual meeting and of the several
meetings of the executive committee
of the Northern Securities company.
These were adopted without a dissent
ing voice. Stakeholder Richards want
ed to know by what process of caIcula-
ton the figures 1927 for Northern Pa
cific and $3O17 for Great Northern had
been arrived at
by ratable distribution" said Vice
President Clough, and Mr.. Richards
was satisfied. Mr.. Richards then voted
his 100 shares for the announced plan
redistribution. No other outside stock
holders appeared to have any interest
in the matter. The Ills were closed
shortly before noon, and when the vote
was announced it appeared that of the
$3.50 OOO shares Of Northern Securities
stock a total of 2,94474O shares had
been voted in favor of the announced
plan for the distribution of the hold
ings 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.
Notice of Union Pacific.
The notice presented by the Union
Pacific interests reads as follows:
Notice Is hereby given to the special
meeting Of stockholders of the North
ern Securities company that the UNDER
signed claim that the shares of the
capital stock of the Northern Pacific
Railroad company, delivered by Ed
ward II. Hartman and WinsIow &.
Pierce to the Northern Securities COM
pany on or about Nov. IS, 1901. and con-
sisting of S37 023000 par value of the
common stock of said railway cOmpa-
ny and $41.0S5.OOO par value Of the pre-
ferred stock of said railway company
and the common stock into which said
preferred stock has been converted. be-
long to the Oregon Short Line Railway.
company as the legal and equitable
owner thereof; that the Northern Sc
CurlueS company Is not now and never
became the owner thereof. but is sim
ply a custodian. and that the under
signed are entitled to the return and
delivery to them of certificates for said
stock Of the Northern Pacific Railway
company upon the surrender by them
of So, 491.S71 nar value OF the capital
stock Of the Northern Securities COM
pany and the payment of $S.915629 in
cash received by them on such dnliv-
cry Of said Northern Pacific stock to
the Northern Securities company as
aforesaid.
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 otherwise dispose of the
same. eXcent to return the same to the
undersigned"
Then follows the formal notice Of the
suit begun before Judge kirkpatrick in
New Jersey.