The Redwood gazette. [volume] (Redwood Falls, Minn.) 1873-1940, 1905-06-14
Clark got his wind and

called out:
You couldn't do that year ago.
and you know you couldn't; we have
brought this about and don't get any
credit for it,
Mr.. Whittet insisted that the 81
phones in the city were giving the
owners more value than the so cent
phones in the country, owing to so
many being on each rural line. Thos.
Whittet also sent one or two shells into
the camp along this line.
Oil was needed here. Things were
looking ugly. The agrarian leaders
were looking for opportunities to make
thrusts at Clark, and if it continued
there was going to be serious trouble
rail or no rail. 1t fell to Demosthenes
Stewart to set up the flag of truce be-
tween the two factions. He first
begged for unity between city and
country. Then he insisted that the
company should be conducted along
lines on which it is organized. "They
are trying to create monopoly where
by they can control by the few. They
seek to make us helpless subjects of
plumber. Their proposition is to make
the wealthy man dominant oyer the
smaller stakeholder. We cannot and
we will not tolerate it. [ was instru-
mental in getting many rural stock
holders and insist that every prom
Use we made then be carried out"
Then MIR. Stewart offered as a COM
promise the permission to the direc-
tory to issue $4,000 preferred stock, the
revocation of the resolution adopted in
January declaring an eight per cent.
dividend; the declaring of a seven per
cent dividend to all shareholders not
getting the benefit of a so cents per
month rental-the latter being given
in exchange for the dividend; the con-
tinuation of the so cent rate; and the
permitting of only one vote to each
man, regardless of the amount of stock
held.
The discussion of the proposition con-
tinued for long time, and it became
evident that it was about the only
compromise that would be accepted
by both sides. Finally the resolution
prepared by the directory was read. 1t
allowed the latter to issue $4,000 of
preferred or special stock. drawing in
terest at not to exceed per cent. per
anBum, payable semi-annually,Gto be
taken up at the end of three years at
the option of the company. No holder
of special or preferred stock to be en-
titled to have any vote at any election,
or in the management of any of the
affairs Of the company by virtue of his
ownership of such preferred or special
shares. The getting together seemed
certain and this resolution was adopt
ed by a unanimous vote.
Then Mr.. Stewart got his resolution
in writing, Several subjects were en-
braced and division of the question
was called Sor. The Z per cent divi-
dend clause was first adopted. Then
the so cent phone rental clause was
adopted, but A. D. Smith first got an
amendment tackled on that the COM
pany must keep all of the phones in
repair. Then came the per cent.
dividend to all parties not having a so
cent rate, and this was adopted. Last
", by unanimous vote came the
adoption of the. clause giving each
shareholder just one vote.
The victory was complete An at
tempt to amend the bylaws so that
they could not be amended except at
the annual meetings was voted down.
The minutes of the meeting were read.
The multitude left the hall. The deed
was done.