The Fairmont West Virginian. (Fairmont, W. Va.) 1904-1914, 1905-10-11

by the chair. Then the bondholders'
caucus adjourned.
Immediately the caucus of the
stockholders was begun. Lawrence
Greer of the counsel for Gould, named
Attorney William B. Sanders, coun-
sci for the Wheeling and Lake Erie,
Gould property, as chairman of the
stockholders caucus. The same in
| spectors were named as inspectors
and tellers for the stockholders. The
call of the roll was begun at 1890 for
the approval of the proxies as held
by Gould and Ramsey and will take
great part of the afternoon.
Conclusively showing the hold the
Gould machine has upon the proceed
ings here 1t is only necessary to show
the. relations the inspectors and tell
ers of the election bear to the Wa
bash system.
F.. j. Bey. inspector, is son of S.
c. Reynolds. for years director of
the Wabash; A. W. Cotton, inspector.
is president Of the Lake Erie Trans
portation Company which runs Wa
bash line Of freight steamers. G. H.
Newton, inspector, is the local agent
of the Wabash. Alex Smith, one of
the tellers, who officiated this morn
ing. is local counsel for the Wabash.
while Clarence Brown, the other tel
Ter, represented the Gould interests
in the preliminary court proceedings
here two days ago.
TOLEDO, o., Oct. 11.-The Wabash
bondholders practically finished their
examination of credentials at mid
might and formal ballot will be TAX.
en- this morning. Each side will vote
in bulk its entire strength. 1t is not
definitely known what the ballot will
show, guesses by those in touch with
the situation give Gould s22,00O,0OO
and Ramsey s1,70O,O00 worth Of secu-
rites. This means that Ramsey is
completely routed in the bondholders'
action.
The plan of the Gould people is to
bury Ramsey under a pile Of ballots
SO deep that he cannot get peep into
the Wabash affairs from this time on.
So far they hold the upper hand. APP
parently Ramsey's only recourse is
the courts. He objected strongly yes
terday to the acceptance of proxies
for Wabash stock owned by the Mis-
souri, Pacific and Iron Mountain roads.
He then offered proxies for $1,50O,oOo
of bonds and saw them rejected. This
was the event of the night session.
Ramsey came in at the last minute
with a million and half bonds and
was turned down cold by the inspec-
tors. Included in these rejected prox-
les were Keene & Co., for $212 900:
Henning & Company, for $15O,0O0 and
T. J. Taylor, Keene's son-in.law for a
large amount.
The record books for the election
closed September 9. The proxies Of
fered by Ramsey covered securities
by Gould and showed different own
ership from that recorded in the book.
The assumption was that the securi-
ties changed ownership after Septem-
ber and that Gould had no right to
the proxies. Ramsey's. proxies were
supported by affidavits. Counsel
Doyle, for Ramsey, contended that
under the Ohio law an unregistered
security holder was not prevented
from voting.
N One Ramsey protest covered $780,
900 in bonds. proxy for which was
given A. R. Hoyt who had no right to
give a proxy and that the real owners,
Henning G Company, favor Ramsey.
Every Ramsey proxy was rejected
i. because the men claiming ownership
were not of record. Doyle indicated
that the reflections would furnish a
basis for contest.
The 100000 thrown out would
|. have probably enabled Ramsey by the
cumulative plan to secure one direc-
tor on the sbondholders' board.
|, It is stated on the authority Of lead
Il ing lawyers attending the session
n that Ramsey will outdo Thomas w.
I lLawson. He threatens to make pub
Ilic the alleged "Frenzied finance. Of
railroading. He viii expose alleged
manipulation of Gould line securities
4 which manipulation he claims was
for the purpose Of sitting competition
II Continued on Fifth Paoo.l