New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-05-18
HARTMAN OUT OF K. c. S.
His Stock Not Voted Only Four
Directors Reelected.

Kansas City, Mo, May 17.-New-York inter-
ests gained control Of the Kansas City Southern
Railway at the annual meeting of stockhold-
in this city this afternoon. out of total
of 10000 shares 331 ,GG6 shares were voted
The Hartman interests did not vote The stock
holders elected directors as follows:
Herman Sielcken, D. G. Boisevain. James A
Blair. Ernst Thalmann, H. r. Duval Samuel
Untermyer and John Greerson, of New-York
City; H Clay Pierce and S. w FordyCe, of st.
Louis; John j. Mitchell, of Chicago; William F.
Harrity Of Philadelphia G. NJ. Craig of Port
Arthur, Tex, and ]. A. Edison. general man.
ager of the Cincinnati, Hamilton and Dayton.
who is to be the president of the Kansas
City Southern. The new board of directors will
organize by the election OF officers at a meet
ing to be held in New-York City probably next
week.
After the meeting Of the stockholders, Presi-
dent Stuart R. Knott said in interviews
OF the total outstanding capital stock of the
amounting to 100000 par value, 1884
shares were not represented at the meeting to-
day. OF these 1884 shares $4,000 shares,
aggregating in par value $40, 1901 800 were
der the control and voting power Of the present
administration
Had the present management deemed 1t ad-
Vlsable to exercise such power it could have
elected, under the laws Of Missouri, which pro-
vide for cumulative voting, at least four direc-
LUIS Jul VI a DOdTO OF thirteen. But aIler care
fuly considering the matter, the persons inter
ested in the present management, who have
oeen handling the property for the voting trus-
tees, reached the conclusion that It would be Of
no substantial benefit to the stockholders whom
they represent to elect a minority of the board:
that minority representation in the board OF
directors might be embarrassing to the
management, and also might result in imposing
upon the minority representation a responsibility
for future operations which they may not care
10 assume. Holding these views, the present
management refrained from voting leaving to
the majority OF the stockholders the privilege of
electing the entire board, with the assumption OF
responsibility necessarily incident thereto
Before the meeting was called to order Mr.
Sielken said
We are tired of having the road dominated by
an outside interest, which has practically no
financial concern in the road. The Hartman in
terests have had control too long, and pro-
pose TO operate it as an independent road, in the
interest Of the Kansas City Southern. and not
or any other road or group Of roads. We want
to be on friendly terms with the other roads.
We want their business and will be willing TO
make such agreements with them as may be
necessary to get that business but we do not
want to be under their control
There is one Misrepresentation in regard to
the affairs of the road which should be cor
rected. The Dutch stockholders do not hold a
controlling interest in the Kansas City South
ern. An actual majority of the stock is held in
this country approximately $26,OO0.0OO. There
is also misrepresentation in regard to the in
nuence which John w. Gates has in the affairs
Of the road. His interest is very small.
Messrs. Sielciken. Mitchell, Boissevain and
Pierce were members of the retiring board Of
directors to which President Knott, 2. H Har-
riman. Otto H Kahn, John W. Gates, H p
Werthein. George J. Gould. Edwin Gould and
Julius s. Walsh were not reelected, OF the new
directors Mr. Fordyce was one of the receivers
appointed on April 81, 1899. for the old Kansas
City, Ptttsburg and Gulf Railroad Company; Mr..
Thalmann and Mr.. Harrity were chairmen. re-
spectively, Of the "New-York committee" and
the philadelphia committee" which prepared
plans for the reorganization Of the Pittsburg
and Gulf, the modified plan Of the Philadelphia
committee being unanimously approved by the
New-York committee and Mr.. Untermyer has
been counsel to the Sielcken committee of stock
holders which has been recently carrying on the
successful campaign for control of the Kansas
City Southern. The Kansas City, Pittsburg and
Gulf Railroad, which was constructed through
the efforts of A E Stilwel its first president
was sold under foreclosure on March 49, 1900
and was bought in for the Philadelphia reor-
ganiZation committee. The Kansas City South
ern Railway, its successor, was incorporated on
the same day.