The Birmingham age-herald., 1905-10-11
GOULD DIRECTORS WILL BE ELECTED All Yesterday Was Spent k
 amining Proxies DOES NOT SETTLE CONTROL JuIge Doyle Says If Gould Votes MN- souri Pacific and Iron Mountain
 Stock It Will Be Con
DOES NOT SETTLE CONTROL

Toledo. O.. October 10.-No directors were chosen at the annual meeting of the Wabash today.
 The session. with the exception of two brief recosses, lasted from o'clock in the morning until 11:15 at night. almost the entire time being taken up by the examination of proxies.
 Although no figures had been given out by the inspectors of election, it Is be- leved that the vote to be taken the first
 thing tomorrow morning. will show that
 MT Gould has behind him about s22.- 000,000 of the bonds and that MT. Ramsey
 has in the neighborhood of S2,0O0oOO. This
 makes certain that six men nominated by
 the Gould faction as directors. represent
 ing the bondholders, will be elected.
 These men are Russel Sage, Winslow 5.
 Pierce, R. c. Clowery, E. T. Wells, w.
 B. Saunders and R. M. Galloway. MT.
 Ramsey has not shown sufficient strength
 to enable him to hold his seat as a
 director and it is generally believed that
 he is weaker in stock proxies than he
 Is in the bonds.
 Will Not Settle Control.
 The result of the meeting now in prog
 ress will not settle the fight for ths
 control of the Wabash road if MT. Ram-
 sey adheres to the programme outlined
 today at the caucus of the Wabash bond
 holders by his counsel, Judge Doyle.
 When the proxies of the Farmers Loan
 and Trust company, and the Mercantile
 Trust company of New York. were pro-
 duced giving George J. Gould the right
 to the 5335 votes represented by the bonds
 owned by the Missouri Pacific and Iron
 Mountain railroads. and which are held
 by the two trust companies. Judge Doyle
 formally entered protest to the inspec-
 tors of election against the administra-
 tion of the votes. He declared that they represented securities which are held by lines parallel and competing with the Wabash road; that the holding of such securities by such railroads is illegal, and that therefore. any voters represent ing illegal holders could not, under the law, be received. He said the holding of Wabash securities by the Missouri Pa- cihc and Iron Mountain roads was in di- rect violation of the laws of the United States and also of the laws of Ohio, Michigan. Illinois, Indiana and Missouri. in which states the Wabash road oper- ated.
 VIII contest IT m COurtS.
 "The protest l now make against tha votes represented by these two trust companies" declared Judge Doyle, T
 shall repeat tomorrow in the caucus of the stockholders, and l now serve mo- tce that the result of any election in which these votes are counted will ba
 hereafter contested in the courts" Winslow s. Pierce, counsel for MT.
 Gould aurned to the transfer clerk and
 asked:
 These bonds are properly entered on
 the books, are they not, and the trust
 company's appear as the parties con trolling them.''
 Yes, sir"
 Then count them for MT. Gould" he said, and the caucus was resumed Practically the entire day from 9 in the morning until ' at night with tho
 exception of a recess of one hour at
 noon, was given over to the submis- sion of proxies, and the discussion of their eligibility. The work was tedious in the extreme. Many proxies were filled out in faulty or inaccurate man. ner. and much time was taken up In strengthening out tile difficulties they presented. There were a dozen cases in which both sides held proxies for the same bonds, and these were the cause of much argument
 The majority of the holders of the de- benture bonds were shown to be private individuals in all parts of the country, very few of them bearing the names of brokers or financial institutions. The entire holdings of the Gould family
 were shown to be but s1O,0o0. and those of the Gould estate totaled S S.39000o, the latter amount being still in trust. Of the--ffrectors of the road, Wlnslow s. Pierce holds thirty bonds, Mir. Ramsey | owns ten F. II. Hartman owns fifty bonds, and he voted 4s of them for MT. | Gould and two for MT. Ramsey. | The meeting opened promptly at | o'clock with George ]. Gould presiding. | MT. Ramsey sat a few feet distant. but the two gentlemen conld not see each other, and neither bowed nor spoke. Objects to MT. Gould. Judge Doyle. counsel for Mir Ramsey, | was at once on his feet offering objec- | tons to MT. Gould as presiding officer. He likewise took exceptions to Messrs. Reynolds, Cotton and Newton. acting as inspectors of election. declaring that they were not competent to pass upon
 the many legalties that would come up
 during the election. He was ruled against in both instances and his objec- tions spread on the records The general meeting then took recess and Vice President Blodgett was chosen chairman of the caucus of bond holders,
 which was at once convened George Greer. one of MT. Gou1dS attorneys, nonl- mated the following six gentlemen as tho directors representing the bond hoIders F. T. Welles.r ". B. Saunders. R. c. Clowery. Russell Sage. Winslow S. Pierce | and R. M. Galloway. Mir. Ramseys fac- ton offered no nominees.
 Judge Doyle, counsel for Mir. Ramsey. demanded formal ballot but after much discussion 1t was decided that the proxies should be submitted one by one to the in- | spectors. and their admissibility decided. | Attorney Lewis for MT. Ramsey, and | Mir. Pierce for Mir. Gould handled the proxies and all day long struggled over | them and not proxy was admitted with out careful inspection by both sides. When the recess was taken at o'clock | 1t was evident that a large majority of
 the votes were with Mir. Gould, and that
 the election of his six directors was an assured fact.
 1 Under the law the bond holders ara represented by six directors. the stock | holders by six and the twelve select tho l thirteenth.
 | Tomorrow will be occupied by the can i vass of thet proxies of the stockholders