The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1905-05-18
NEW WORKERS ARE
NOW IN CONTROL
Kandas City Southern in New
Hands
CLOSE ALLIANCE PLANNED
The Road Will Probably Go In With
One of the Big Graia-carrying
Lines-Passes Into the
Fourth Period.
CLOSE ALLIANCE PLANNED

Kansas City, Mo-, May 17.-New York
interests gained control of tle Kansas
City Southern railroad at the annual
meeting of the stockholders held in this
city this afternoon. Out of total of
$4,000 shares 3S1, 666 shares were voted,
The Hartman interests did not vote and
therefore had no voice in the meeting.
The stockholders elected thirteen dlrec-
tors as follows:
Herman Sielcken of New York city, one
of the largest coffee merchants In the
United States; ID. G. Boissevain of New
York city, Of Maitland, Coppell & Co.,
bankers; II. Clay Pierce of St. Louis, of
the Waters-Pierce Oil Co, branch of
the Standard Oil Co.; S. w. Fordyce, st.
Louis; John ]. Mitchell. Chicago, of the
Illinois Trust and Savings lank; ]. A.
Edison, new general manager of the Gin
cinnati, Hamilton and Dayton railroad;
James A. Blair. New York, of Blair & Co.;
Ernest Thalman, New York, of Laden
burg, Thalman Co., bankers; w. f. Har-
rity, Philadelphia. vice president of the
Equitable Trust Co.; H. r. Duvall, New
York city, retired capitalist and largely
interested in southern railways Samuel
untermyer New York. an attorney; @.
NJ. Craig, president of the Citizens Nat
ional bank Port Arthur. Tex, and John
Greerson, New York.
No Officers Elected.
The new directors took no action upon
the election of new officers, but ad-
journed to meet in New York city at
later date.
u ,1~
Edison would be made president of the
Kansas City Southern to succeed Stuart
r. Knott, the present head of the road,
and it is assumed this will be carried
out nj the New York meeting
The president must be a director of
the property and the first step IN his
probable action to the presidency was
taken today when Mr. ldson was made
a director.
After the meeting of the stockholders
President Stuart r. Knot sal in an in
terview "Of the total outstanding capt.
tai stock of the Kansas City Southern
Railroad company, amounting to $51,00O.-
600 par value, there We're represented at
the meeting To-Day us, 1884 shares, of which
154.6o9 shares, aggregatng par value s15,
10000 We're under the control and voting
power of the present administration.
'sHad the present cement deemed
it advisable to exercise such power it
could have elected under the laws of
Missouri, which provides for cumulative
voting, at least four directors out of a
board of thirteen. But after carefully con-
siderng the matter the persons interested
in the present management who have
been handling the property for the vot-
Ing trustees reached the conclusion that
it would be of no substantial benefit of
the stockholders whom they represent to
elect a minority of the board: that a mi
cd xxf. 4
rectors might be embarrassing to the
new management, and also might result
In imposing upon the minority represen-
tation an unreasonable responsibility for
future operations. which they would not
care to assume. Holding the views as the
present management did, they refrained
from voting or having tie 800 rep
resented leaving to the majority of tho
stockholders the privilege of electing the
entire board in their interest. with the
assumption of the responsibility neces-
sarily incident thereto
Will Soon Close Alliance.
1t is believed in railroad circles the
Kansas City Southern will eventually
form a close alliance with one of the big
grain carrying lines, perhaps the Bur
lington. the Chicago. Milwaukee and st.
Paul, or the Rock Island.
The Kansas City Southern has now
passed into what might be termed the
fourth period of its existence. The form
alive period ended when the road was
built by Arthur e. Stillwell, which was
almost coincident with the passing of the
property into the hands of the receivers
The second period ended with the reor-
ganization of the company under the con-
rol of the Hartman interests. At that
lme voting trust was organized.
The expiration of this voting trust made
1t possible for the interests represented
by Herman Secken to again regain con-
troll of the property This was accom-
plished today when Mr.. Sielcken, with
va1ise full of proxies, entered the full
board of directors with not a Hartman
man on the board