The Montgomery advertiser., 1906-11-08
HARTMAN
 THE VICTOR Harahan is Made Presi-
 dent. FROM ATLANTIC TO PACIFIC Board of Directors Throws Dowu Stuyvesant Fish. By AssanInE contrei of Illinois cen- trai, Pacific Railroad MaEaate Rsaehea Coal If Ambition of
 Every FinancIer
 

Every Einancier
 New York, Nov. 7--By the election today of J T. Harahan as President of the Illinois Central Railroad Company, to succeed Stuyvesant Fish, 1t is be- Iieved that F Fl Harriman has at last realized the fuIfiilment of his plan to control railroad line from the Allan tic to the Pacific Ocean.
 In this great plan the Illinois Gen. frai was the one link missing to com plete a line of track from New York to San Francisco. and Portland, Oregon, from the Great Lakes to the Gulf of Mexico. and from the Gulf to the Pacific again. Until within a few months ago. Eastern terminals of the Hartman system were at Kansas City, Omaha and New Orleans. The first inaportant step in the direction of se- curing the desired outlet on the Att lantic seaboard for the Union Pacific and Southern Pacific Rasfroads, Is be- lIeved to have been taken by Mir. Har- rifnan several weeks ago, when 1t was reported that one of the roads under hts control had taken over control oi the Baltimore and Ohio py purchasing Q block of forty thousan6 shares of the Baltimore and Ohio Company, which was sold by the Pennsylyanla Railroad Company.
 This would give Mr. Hartman route from Chicago and St. Louis to Ball timore and New York. To complete the ambitious proposition Tor a contin- ucus line from ocean to ocean, it was necessary only to connect the Western terminals of the Baltimore and Ohio with the Eastern terminals of the Southern Pacific, and this purpose the illinois Central serves amply. It's line from Omaha to Chicago ties together the Union Pacific and Baltimore and Ohio, while the Illinois Central branch from Chicago to New Orleans, gives the Southern Pacific entrance into Chicago and the seaboard.
 Taken together. this railway system when unified. puts under one control more than 23.000 miles ot track capi- talized at more than S1,700, 100000.
 Hnrahan is President.
 James T. Harahan, Nicc-President oi ! the Illlnois Central was elected Pres, ident Of the compang at a meeting o l the Board of Direetors in this city by { vote of eight to nothing, the adher' ents of President stuyvesant Fish poi voting. The meeting is reported tC have been a stormy one The Derfc' tors who voted for Mir. Harahan were John Jacob Astor. J. W. Auchincless Robert W. Goelet. James T. Harahan E. H. Hartman, Walter Luttgen Charles A Peabody and Cornelius Van derbilt.
 The following Directors did not vote Charles M. Beach. J. Dewitt Cutttnf and Charles s .Deneen, Governor of H. linols, who Is ex-officio a member of the Board. John c. Walling, another Director, was not present owing to illness. No successor to Mir. Harahan was chosen, but the other officers Of the company, whose terms expired were reelected by a vote of ten to nothing, Messrs. Fish and Beach not voting.
 shortly before the meeting the eight directors who voted for MT. Harahan sent letter to President Fish giving their reasons for refusing to vote for hls reelection. The letter declared that in June last without consulting the other members of the Board of Dt- rectors MT Fish issued circular to the stockholders requesting proxies for the annual election.
 At the next meeting of the Board tt was declared Mir. Peabody offered a resolution that a Committee of Diroc- tors. including Messrv. Astor, Auchin- closs. Goelet. Luttgen and Vanderbilt be appointed to request proxies from stockholders for the annual meeting It was declared that MT. Fish defeat ed such action by leaving the room and breaking a quorum. The Board then adjourned and during the follow ing week 1t was declared, Messrs. Fish Peabody and Hartman signed an agreement that the successor to w. Morton Grinnell be selected by a ma iority of the directors; that Mr. Pea body's resolutions be withdrawn and not revived and that Mfr. Hartman asked that the Hartman Kuhn Loeb proxies be given to MT. Fish.
 This agreement Is sad to have been made to secure peace and provided that Mir Fish was te vote all the proxies. The letter continued as fol- lows:
 At the meeting Heid immediately after the signature of the paper, Mir, Peabody withdrew his motion, all proxies which could be controlled were subsequently, delivered co you and you were relied on to carry out this agree- ment We feel warranted in saying that but for the agreement proxy committee would have Oeen appointed by the Board which would have ob- tained a majority of proxies, and you would have been in considerable minority
 shortly before the annual meeting Messrs. Auchincloss, uOelet, Harahan, IldfFlUldHs lAulABFAAE NtNbNhS derbilt, a majority of Vne directors, mo- tifed you In writing of the selection of Mir. Henry w DeFOrest as a sue cessor to Mir. Grlnnen In strict con forrnity with the agreement, and re- duested that the proxies in your hands be east for him as agreed by you, which you absolutely rerused to do, and instead, used the proxies to elect your personal individuaf nominee. You were not satisfied to decline to vote for MT. DeForest on tHe ground that no selectioI had actun-;y been agreed on and 90 leave varancsy to be filled bv the Board. hut you proceeded to appropriate the proxies and convert them to your personal purposes. Moreover. you seized the occasion. in A written statement read at the meeting and afterward published to reflect upon majority of your fellow directors and to severely impugn their motives in nominating Mir. DeForest, and arrogated to yourself alone the duty and function resting upon the en- tire board of protecting the stockhold- CTS and serving the interest of the public.
 "In violating the agreement and electing your own personal nominee, you assumed to treat as a personal af- fair the proxies given to you upon the faith of the agreement Furthermore,