The Washington herald., 1906-11-15
LINCOLN REFLECTED
Pullman Company Makes No
Change of President.
CHICAGO THREATENS TROUBLE
Corporation Counsel Lewis Warns
Stockholders City and County Hold
Lien on PrO-rata surPIus-Morgan
Attends stOekhOIders' Meeting in
the Anticipation of Trouble.

Chicago. Nov. 3.-Robert =, Lincoln
was reelected president, and John 5.
Runnells vice president. of the Pullman
Company, this evening. by the directors
chosen at a stockholders meeting earleir
in the day
The companys surplus. on which the
city Of Chicago is seeking TO levy taxes,
vas wiped out BY an increase in the cor
poration's capital stock from S7foo0,o00, 90
s100.000.000
The old directors were reelected at the
stockholders meeting. with the excep-
tioiu of Frank Q. Lowden, who has re-
tired owing 70 his recent election TO Con-
gress.
Mr. Lincoln was reported TO have said
some time ago that ne would not again
accept the presidency of the company
and Mr. Runnells was supposed to he
slated for the post. Mr.. Lincoln said
to-day that he never made the remark
attributed 10 him.
No opposition was met at the directors
meeting to a 100000 appropriation for a
steel car plant.
Plan Mapped in Secret Session.
Reports that the city's legal depart
ment has list Of 500 of the company s
pass-holders. including state and federal
judges. officials Of the taxing bodies, and
members Of Congress. and that city
official would be present when the sur
plus was divided. caused secret direc-
tors meeting before the regular sessions
It is said nothing but routine business
was done at this gathering but rumor
has It that 10 was here that the decision
was reached to care for the surplus by
increasing the capitalization. The new
stock is 70 be divided pro-rata among the
shareholders.
The list of directors chosen to-day is
as follows: o. s A. Sprague, Robert T.
Lincoln. Norman B. Ream. John J.
Mitchell. ChaUncey B. Keep. Charles c.
Sweet. William X Vanderbilt Fred W.
Vanderbilt, Henry c. Hubert. ". Seward
Webb, and J. Pierpont Morgan
Mr.. Morgan caused something. Of a
sensation by attending in person, quite
unannounced. Though none of the direc-
tors would confirm the report It is said
he was brought here by threats OF
trouble with the local taxing bodies over
the surplus.
Lewis Warns Stockholders.
That trouble is ahead. is certain. Sim
ultaneously with the announcement Of
Tue 4hC4 ease OF the capitalization came
the news that Corporation Counsel Lewis
insists that new stock can be held only
subject TO 2 ''lien Of Cook County, and
The city Of Chicago for taxes The sur
plus. Attorney Lewis asserts, is money
and personal property within the mean
iHg Of the statutes, and would have been
assessed as such, but for misleading
statements by the company's representa-
tive"
Col. Lewis notice to the stockholders
also warns them that. if any or all accept
the new shares. the city, being in posses
sion of a stockholders list, VIII hold
them personally responsible, unless the
company nays the anaoUnt-elainaed-
j. p. Morgan arrived in Chicago on the
Twentieth Century Limited with w
Seward Webb. The two Vanderbils ar
rived on d special car on another train.
When the directors scattered after the
Meeting. the Eastern celebrities fairly
ran for their carriages in their anxiety
10 escape snapshot photographers and in
terviewCTs