The Montgomery advertiser., 1905-10-11
NO DIRECTORS WERE CHOSEN Wabash Battle Postponed
 Until Today. WARM CONTEST IS 0N Preliminary Skirmish n
 Gould's Favor. seems LikeIy That Ra.sey wln Lsss out |. His Piacky FisAt over
 Control sf the hallway
 systen.

Toledo. O.. Oct. lo--No directors were chosen at the annual meeting Of the Wabash Railroad today.
 The session, with the exception of two brief recesses. lasted from 2 o'ciock in the morning until 1i:15 at night. all most the entire time being taken up by the examination of proxies.
 Although no figures had been given out by the inspectors of election, 1t is. believed the vote to be taken the first thing tomorrow morning will show that Mir. Gould has behind him about &22.oo0. 900 of the bonds and that MT. Ramsey has in the neighborhocd Of t1,- 100000 This makes certain that six men Nominated by the Gould faction CTS will be elected. These men are Russell Sage. Winslow s. Pierce. R c. Ciowry, E. T. Wells. w. B. Saunders and R. B. Galloway. Mir. Ramsey has not shown sufficient strength to en- able him to hold his seat as a director and 1t Is generally believed that he iS weaker in stock proxies than he is in the bonds.
 The result of the meeting now in progress will not settle the fight for control of the Wabash road, If MT. Ramsey adheres to the program ous- lined today in the caucus of the Wa- bash bondholders by his counsel. Judge Doyle.
 When the proxies of the Farmers Loan and Trust Company and the Mer- cantile Trust Company of New York were produced. giving to George Gould the. right to 5,as5 votes represented by the bonds owned by the Missouri Pa~ cifc and Iron Mountain Railroads, and which are held by the two trust com pafiies. Judge Doyle formally entered a protest to the inspectors Of election against the administration of the votes. He declared that they represented se- curities which are held by lines para1- Tel and competing with the Wabash road; that the holding of such securf- ties by such railroads fs illegal. and that, therefore. any votes repraseufinx Illegal holders could not under the faw be received. He said the holding Of Wabash securities by the Missouri Fa- cific and Iron Mountain was in direct violation of the laws of the United States and also of the laws of Ohio. Illinois and Missouri, isa which States the Wabash road oper- ated.
 VIII Go Into Courts.
 "The protest now make against LnG RQttB IGDT61GHttu Oy FuE3& LMN trust companies" declared Judge Doyle. T shall repeat tomorrow in the eau GUS of the stockholders, and now serve notice that the result of any election in which these votes are count ed will be hereafter contested in the 
 winsiow s. Pierce. counsel for Mir. Gould, turned to the transfer clerk and asked:
 These bonds are properly entered on the books. are they not, and the trust appear as the parties con- trolling them?'
 Yes, sir"
 '"Phen count them for Mfr. Gould. he said, and the caucus was resumed.
 Practically the entire day from 8 in the morning until at night. with the exception of a recess of one hour at noon, was given over to the submission of proxies and the discussion of their eligibility. The work was tedious in the extreme. Many proxies were filled out in q faulty or inaccurate manner. and much time was taken up in straightening out the difficulties they presented. There were a dozen cases where both sides held proxies for the same bonds and these were the cause of much argument.
 Tine majority of the holders of the debenture bonds were shown to be pri- yate individuals. in all parts of the country, very few of them standing in the names of brokers or financial in-s stitutions. The entire holdings of the Could family were shown to be but s1 O1lO. and those of the Gould estate totalled sI, 39O,0O0. the latter amount heinz stiil in trust Of the directors oS the road, winslow S. Pierce holds thirty bonds MT. Ramsey owns ten E. H. Hartman owns fifty bonds ana he voted forty-eight of them Tor Mr. Gould. and two for MT. Ramsey. The meeting opened promptly at o'clock with George J. Gould presiding. Mir. Ramsev sat a few feet distant, but the two gentlemen could not see each other and neither bowed nor spoke
 DOyIe's ObtecfiOna.
 Judge Doyle. counsel Tor Ramsey, was if once on his feet offering objections n Mr Gould as presiding officer. He jkswise took exceptions to Messrs. Cotton and Newton acting az nsnectors of election. declaring that bev were not competent to pass upon ba many legalities that would come up Iuring the election. He was ruled ,zainst in both instances and his ob- ections were spread on the records.
 The general meeting then took ecess and vice-President Blodgett was .hosen chairman of the caucus of which was at once con- ,ened George Greer, one of Mir. ,ould's attorneys. nominated the fol- owing gentlemen as the directors rep the bondholders: E T. Wells. W. B. Saunders. R. C. Clowry, ausseu Sage, winslow s. Pierce and S M Galloway. MT. Ramsey's faction ,ffered no nominees.
 Judge Doyle. counsel for Mir. Ram ev demanded a formal ballot, but after much discussion it was decided that he proxies should be submitted one by me to the inspectors and their adnis- Ibiiity decided.
 Attorney Lewis. for Mir. Ramsey. and Ar. Pierce. for Mir. Gould. handled the ,roxies and all day long struggled over hem and not proxy was admitted without careful inspection by both ides.
 Icloclx it was evident that large ma oritv of the votes were with MT. sonia and that the election of his six Iirectors was an assured fact.
 Under the law the bondholders are enresented by six directors. the stock ,olders by six and the twelve select the
 Tomorrow will be occupied by the