New-York tribune., 1906-07-28
STUYVESANT FISH WINS
r.. III. HARRIMAN GIVES IN.
4bandons Attempt to Get Control
of Illinois Central.

f. H Hartman has abandoned the effort
which he had been making for several months
TO obtain control of the Illinois Central Rail-
road Company. and neither he nor President
Peabody of the Mutual Life Insurance Com
pany. who has throughout acted as a Hartman
lieutenant. will make any attempt TO obtain
proxies To be used at the annual meeting in
October in opposition to the continuance OF
Stuyvesant Fish as president Of that company
Since the meeting Of the board on Wednesday
OF last week a number of conferences have been
held of men prominently interested in the prop
erty, as the outcome of which the understanding
was reached which insures harmonious action
at the approaching annual meeting. What
might perhaps be called a ratification Of that ar
rangement the action of a Hartman
director in withdrawing at yesterdays meeting
Of the board the resolution which he had offered
at the meeting last week asking for the appoint
ment OF a special committee of directors to
solicit proxies from the stockholders.
President Fish has this year. as has for twenty
years been his custom. sent out as an individual,
and not in his official capacity request for
proxies; and it is understood that under the
agreement reached between him and Mr.. Harrl-
man the latter and his friends will give their
proxies TO Mr. Fish to vote at the annual meet
Ing The proxies received and TO be received
will be voted in favor OF the reelection OF Mr..
Fish as president Of the company and for the
reelection of the three directors whose terms
expire this year-Charles NJ. Beach. J. T. Hara-
han and Cornelius Vanderbilt There Is a va
cancy in the board caused by the death Of w.
Morton GrinnelI, and a candidate for this place
will be selected by the other directors, as indi-
viduals. Whoever shall be chosen, 1t is practi-
cally assured he will be a man acceptable to
President Fish.
The meeting yesterday a notable one
Under the bylaws the Governor Of Illinois is an
ex-ofhcio member Of the board, and because Of
the unusual interest in the present condition Of
the company Governor Deneen made a special
trip to this city to attend the meeting The at
tendance of directors was large, those present
in addition to Governor Deneen and Mr.. Fish
being E. H. Hartman. Charles A Peabody
Walther Luttgen, John w. Auchncloss. John c.
yelling. Cornelius Vanderbilt Robert w. Goelet,
Charles NJ. Beach and J. T. Harahan. Governor
Deneen said after the meeting:
Everything ends harmoniously. It is for Mr.
Fish, however, to make any statement. I came
here to attend the meeting because under
stood that they wanted full meeting of the
board. was doubtful whether l could give
proxy. am member of the Illinois Central
board of directors, ex-oficio. under the contract
that the state has with the railroad company by
which II receives z per cent Of the gross
ceipts Of the 100 miles of charter lines in the
state The state receives an income OF about
81 100000 under this contract. l am now going
back to Chicago by the earliest train.
Both Mr. Hartman and President Fish de-
clined to discuss the harmony agreement or to
indicate through what agency il had been
brought about. II has been known that for some
time certain prominent financiers have been
using their best endeavors TO arrange a peace
and end a situation which appeared to contain
possibilities of trouble comparable to those
which eliminated in the Northern Pacific corner
and the panic of MAY 9, 1901
What direct influences were brought to bear
on Mr. Hartman, however, to induce him TO
drop, for the time being at least, his long con-
ceived plan to get absolute control of the Ili-
nois Central could not be learned yesterday. No
later than yesterday morning a long article was
printed in which it was said:
by men closely affiliated with Mr. Fish
yesterday 1t was stated definitely that recent
changes in the transfer books of the Illinois
Central road show that the Harriman-Unon
Pacific interests are now practically in control
through ownership and friendly proxies in the
Illinois Central stock" And it was added:
What disposition the Union Pacific interests
purpose to make of Illinois Central cannot be
ascertained.
About two years ago, when Hermann Sielcken
and the Dutch stockholders whom he repre-
sented were engaged in their fight to get the
Kansas City Southern Railway out of the hands
Of Mr.. Hartman, of the leading supporters
OF the latter paid visit to a well known MEM
ber of the Sielcken party and said to him:
Look here. why don't you drop this fight? 1t
is useless for you to keep it up, for we have 53
per cent Of the stock in our boxes
That's very interesting remarked the
Sielcken man, for we ourselves have 60 per
cent That makes 113 per cent doesn't it?'
At the annual meeting at which the show
down came to be made the Sielcken party voted
about 95 per cent of the stock and the Hartman
party about > per cent.