The news & observer., 1905-10-13
OUT GOES RAMSEY
Forces of Gould Domin
mate Wabash System.
Twice Defeated, Joseph Ramsey Even
Fails 10 Retain His Seat as
Director Of The Com.
pany.
(Ry the Associated Press

Toledo. O., Oct. 11.-Joseph RAM
sey, Jr., failed completely today in
his efforts to wrest control of the
Wabash system from George j.
Gould. Not only was he utterly de-
feated in all he undertook but he was
forced from the board of directors OF
the road and now has nothing what
ever to do with its management in
any manner. He put up hard light
and struggled gamely to tn. last. bat
was so hopelessly in the minority that
he never had q chance. lie filed
protests all through the meeting not
with the reason. as he afterwafu de-
clared of being an obstructionist, but
because he desired to lay the founda-
tion for any contest thar migh1 here
after be made. He took his defeat
I'm philosophical and man!y manner,
saying:
II think that with fairer treatment
in the caucuses 1 might have made a
much better showing than did.
There were several large blocks of
stocks and bonds that should have
been voted for me-
Mr.. Gould was highly pleased at
the outcome. although he showed his
feelings less in words than by his
manner and hearty laugh as he con-
templated the figures showing the re-
suit.
Just before the announcement of the
final vote electing the directors was
announced, Judge Doyle, speaking for
Mr.. Ramsey filed a formal protest
against the election as directors OF
the Wabash Railroad of Russell 81 ge.
and George j. Gould, on the ground
that they are directors of the Missouri
Pacific railroad which Is competing
line of the Wabash. His protest WAS
placed on file.
The directors chosen are: Thomas
III. Hubbard. E. T. jeffrey, John L.
Terry. Winslow S. Pierce, r. NJ. Cali
loway. f. T. Welles.
The total vote cast was 260,350.
Vote for each OF above directors 22s.-
$40. Vote for Joseph Ramsey, Jr..
31,S40. Directors {. chosen by the
stockholders: S. C. Reynolds, George
j. Gould, Russell Sage. w. B. San
ders. r. c. Clowry, w. II. Blodgett.
Total vote cast. 499.509; vote for each
of above directors 461.467. Vote for
Joseph Ramsey, Jr., 38,042. Director
elected by the twelve named above, F.
A. Delano-
Joseph Ramsay. Jr.. was twice de-
feated today in his effort to control
the Wabash system and failed even to
retain his seat as director. Mr.. RAM
Sey's first defeat came i'm the morning
when the result of the bondholders'
caucus was announced. 1t was ad-
mitted that his greatest strength lay
in the proxies given him by the bond
holders, but he was unable to elect
himself director, securing but
31,S4O votes against the 228.510 cast
for each of the six men nominated for
directors by Mr. Gould. Mr.. Ram
sey made no nominations. but cast all
the votes he controlled for himself.
He made a demand that he be allow
ed to cast his vote under the cumu-
lative system. but this would have
only given him 191,O40 votes. and he
could not have been elected eveen in
that manner The tellers refused to
allow a cumulative vote. and Mr.. RAM
sey was forced to content himself with
'he smaller number of votes.
he names of the six men,. who
yesterday nominated for bond
ders' directors were withdrawn by
:. Gould's attorney, George Greer,
; soon as the caucIs opened this
morning, and for the names of Rus
sell Sage. Robert G. Clowry and w.
b. Sanders, those of Thomas III. Hub
bard. e. T. Jeffrey and John T. Terry,
were substituted. WinsloW s. Pierce,
r. M. Galloway and Edgar T. Welles
were placed in nomination a second
time. When Vice-President Blod-
gett. acting Is chairman of the caufs.s,
announced that total of. 260,350
votes had been cast. Mr.. Ramsey OBJ
iected to the statement. declaring that
his private tally sheet showed that the
number was 10000 less than that.
He asked that his count be checked
up with that of the election inspec-
tors. This was refused, Mr.. Ramsey
being informed that he could check
up his list at any time after the ad-
journmenU
He then offered protest through his
tion of the tellers i'm refusing to en-
tertain his demand for a vote under
the cumulative system. 1t was
spread on the record" and an ad-
journment taken.
The caucus of stockholders made
muck more rapid progress than did
that of the bondholders. The roll
call to determine whether or not
quorum was present was concluded at
Gao O'Clock when recess of two
hours was taken. 1t was roughly es-
timated before the figures had been
cast up. that the call had shown that
close to $50. 100000 out of $4,000
900 of the stock was represented. OF
those this amount $46,000,000 or
100000 votes was set down as the
strength of Mr.. Gould and $4,000
or 1000 votes as that of Mr.. Ramsey.
The stock is very widely scattered
and the great majority of the stock
is held on small amounts. The hold
ings of. the Gould family. in shares,
are as follows:
Estate of Jay Gould, $4,000: George
I. Gould. 10000: Edwin Gould, 2,100;
Law Gould, Jr.. 100: Katherine Gould.
100; Kingdom Gould, 100; Sidney
NJ. Gould, forty.
Mr.. Ramsey throughout the stock
holders caucus made the same OBJ
iections to the voting of the stock
held by the Iron Mountain and Mis-
souri, Pacific as he offered yesterday