The sun., 1905-09-15
RAMSEY TO FIGHT The GOULDS
0rT WITH 4 CALL FOR PROXIES
FOR THE WABASH ELECTION.
,epcscd President Begins = Fight TO
Win Control Of the R0ad-fIe May
Hope for support From Dissatisfied
Bondho oltcrs-GO, O,iId Rivals a Factor.

Joseph HaHlsey, JT., pIesiucuV VI V"o
Wabash Railroad, sent an advertisement
10 the newspapers last night calling upon
the st tock and debenture bond holders Of
,be Wabash to give him their proxies for
90 at the annual election, Of direct ors, to
be held on October 10.
THIS means that Mr.. Ramsey will at
temyt to wrest the control Of the Wabash
Railroad from George j. Gould and other
members Of the Gould family.
The Wabash Is one OF the most important
railroads in the great system belonging
to ;he could family. 1t is the essential
mart er the trlnscontinental lire which
George j. Gould is building Mr.. Ramsey's
ruhlishcd intention Of fighting for its con-
tro comes as a surprising and sensational
climax Il the quarrel which has been going
oo between Mr.. Gould and Mr. Ramsey
and the confusion that has characterized
the finances OF the Gould roads Of late.
II was learned some months ago that
Ramsey was to resign the presidency Ct
the WABASH in October. He has been
abroad most Of the summer and George
]. Gould was elected acting president.
J'pon hi, return, two weeks ago, Mr.. Ramsey
attended a meeting of Wabash directors.
ever. have been signed by Vioe-President
Deaao, and MIR Ramsey says in his adj
vertisement that he has called for proxies
through the newspapers because access
to stock books was denied to him. Any
prospect of reconc ciliation between him and
Mr. Gould has been pretty well dispelled.
In his appeal for proxies Mr.. Ramsey
gives long account Of his services in build
Ing up the Wabash Rair ,ad and declares
that the results Of his administration are
such that he feels that he deserves support
in the shape of proxies:
II he secures enough. Mr.. Ramsey says
that he will elect board OF directors who
will be representative Of all the owners Of
the property. Under prudent, conscientious
and impartial management he declares
that the road should earn something for
It's owners.
Whether there is any possibility Of RAM
sey taking control of the Wabash away
from the Goulds, where Wall Street has al
ways supposed it rested, is the merest guess
work Whether Mr.. Ramsey has any back
Ing in his bold enterprise is equally guess
work As far as could be learned last night,
Mr. Ramsey left the city several days ago
and no trace Of his whereabouts could be
discovered, -
The Goulds generally hold about 40 per
cent Of the stock Of their roads and in case
ola contest would have to secure only II
per cent Of the stock to get full control.
!, In this connection it is interesting to note
that Mr. Ramsey put OF his call for proxies
until after the transfer books for the an
nuaA meeting closed, which, was last Sat
urday.
fne most widely accepted theory in the
abs nee Of any explanation from Mr.. RAM
sey is that. smbittsred by his quarrel with
Mr.. Gould and the necessity Of leaving
the railroad, he has sought revenge by an
attempt to oast the roads present owners.
1t Is to be noticed that Mr.. Ramsey has
addressed his circular to the debenture
bondholders as we'll as to the stockholders.
The 'B' debentures, which have voting
power, have never received any interest.
Several months ago committee of deben-
ture 'B' holders was formed to secure, il
possible, some return on their bonds. Their
efforts were unavailing and they took the
matter to the Federal courts in st. Louis,
where it is now pending.
The intense dissatisfaction expressed
by these bondholders with the present
management of the Wabash may have had
something to do with Mr.. Ramsey's decision
to attempt to get control OF the road. The
bondholders' committee consists Of Henry
Evans, president OF the Continental Fire
Insurance Company; George M. Cumming.
president OF the United States Mortgage
and Trust Company, and President Pomroy
Of the New York Stock Exchange.
II was pointed out last night that Mr..
kamseys advertisement conveying, as it
Goes the idea that a contest for control ia
gong on, might have a bullish effect upon
tho Gould securities. The Wall Street
news bureaus we're flooded yesterday with
all manner Of bullish tips on Gould stock,
and one newspaper printed a column ar
neie headed Great Outlook for Wabash
ahe debenture -B" bonds were very active.
mat Mr.. Ramsey's advertisement had some
connection with scheme for boosting the
'ouid stocks was regarded as possibility.
one theory that will find some supporters
y sthat some of Mr.. Goulds railroad rivals
are behind Mr. Ramseys move. When
mr. Gould determined to build into Pitts
ourg he was fought by the Pennsylvania
and New York Central interests. These
"o roads have bought from Mr.. Ramsey
and associates the Little Kanawha Syndi
H'e, which was wanted by Mr. Gould as
ms line from Pittsburg to the Atlantic
Ocean.
mr. Gould is building line from Salt
lake TO the Pacific Coast, which will be
competitor of Z. II. Harriman's Union
TACTIC Some months ago Mr.. Gould and
ms counsel, Winslow Pierce. resigned from
W ne Union Pacific directorate. What Mr..
harnman's attitude toward the Gould
sompeting line would be has never been
disclosed
me meeting for which Mr.. Ramsey asks
po4'es will be held at the Office OF Smith &
ekwlth, attorneys for the company for
n s slate Of Ohio, in Toledo on Tuesday.
ooooer 10. Mr.. Ramsey wants the proxies
'eal 70 him at the Holland House. In his
..uVertlsement he describes his services to
NO q. wabash in these glowing terms:
Durlng my service Of ten years to you,
general manager. vice-prcsident and
maoent OF your company, the lines OF
.. ..a' railroad have been extended to the
ses OF Omaha and Des Moines on the
' and TO Buffalo and Pittsburg on the
,s.n over its own and it's leased and con-
II "oiWQ lines. the tra cka hava haop rolaSd