The news-democrat. (Providence, R.I.) 1906-1909, 1906-11-08
fish NO LONGER
PRESIDENT Of THE
| ILLINOIS CENTRAL

New York. Nov. S.--By the election yes
| terday Of j. r, IIarnhan as president OF
the Illinois Central Railroad company
10 succeed Stuyvesant Fish, It is believed
that T.. H. Hartman has at last realized
the ful6lment OF his plan 10 control
railroad line from the Atlantic TO the
Pacific ocean.
In this great plan the Illinois Cen
tral was the one link missing to com
peto a line of track from New York to
San Francisco and Portland Ore. from
the Great Lakes 90 the Gulf OF Mexico
and from tho Gulf TO the Pacific aga In.
Until within a few months Eastern
terminals OF tho Hartman system were
ri Kansas city, Omaha and New Orleans.
Tho first important step I'm the direc-
zion OF securing the desired outlet on
the Atlantic seabosrd for the Union Pa
ciic and Southern Pacific railroads Ia
believed TO have been taken by Mr. IIar-
riman several weeks ago. when II was
reported that one OF the roads under his
control had taken over control OF the
baltimore aud Ohio company which was
sold by the Pennsylvania Railroad COM
psny. This would give Mir Hartman a
route from Chicago and ST. Louis to
Baltimore and New York
TO complete the ambitious proposition
for a continuous line from ocean 10
ocean IT. was necessary only to connect
the western terminals of the Baltimore
and Ohio with the eastern terminals OF
the Southern Pacific and Union Pacific
and this purpose the Illinois Central
serves amply. Its line from Omaha 10
chicago ties together the Union Pacific
and Baltimore and Ohio, while the Illi-
nois Central branch from Chicago TO New
Orleans gives the Southern Pacific en-
trance into Chicago and the seaboard.
Taken together, this system, II unified.
puts under one control more than $4,000
miles OF track capitalized at more than
81 700, 900. 600
James T. Harahan, vice president OF the
Illinois Central was elected president OK
that company at a meeting Of the board
OF directors I'm this city by vote OF 10
O. the adherents OF President Stuyvesant
Fish not voting.
The meeting IL reported TO have been
stormy one. The directors who voted for
Mr.. Harahan We're John Jacob Astor.
John A. Auchincloss. Robert w. Goelet.
James 4. Harahan. r. VI. Hartman. Wal
ter Luttgen. Charles A. Peabody and Cor
neIius Vanderbilt The following directors
did not vote: Stuyvesant Fish. Charles
NJ Beach, j. Dewitt Cutting and Charles
s. Deneen, governor OF Illinois. VINO is ex-
officio member OF the board. John g.
Welling another director was not pres
snt. owing to Illness. No successor To Mr..
Harahan was chosen. but the other offi-
GERS OF the company whose terms expired
were reelected by vote of 10 to o.
Messrs Fish and Beach not voting.
Shortly before the meeting the eight d-
rectors who voted for Mr.. Harahan sent
~ letter TO President Fish giving their rea-
sons for refusing TO vote for his re-elec-
tiou. The letter declared that In juno
last without consulting the other MEM
bors of the boars of directors. Mr. Fish
issued "a circular to the stockholders re-
questng proxies for the annual election.
At the next meeting Of the board II was
declared that Mr.. Peabody offered a reso-
luton that n committee Of directors in
Guiding Messrs. Astor. Auchincloss. Goe-
let, Luttgcn and Vanderbilt he appointed
To request proxies from stockholders for
the annual meeting. II was declared that
Mr. Fish defeated such action by leav-
ing the room and breaking the quorum.
The board then adjourned and during the
following week IL was declared Messrs.
Fish, Peabody and Hartman signed an
agreement that the successor OF w. Nor
ton Grinnel be selected by a majority
OF the directors, that Mr.. Peabody's reso-
luton be withdrawn and not revived and
that Mr.. Hartman asked that the Harri-
man-Kuhn-Loeb proxies be given TO Mr..
Fish. This agreement is said TO have been
made 10 secure peace and provided that
Mr. Fish was TO vote all proxies.
President Fish opened the meeting by
expressing the opinion that the genSral
counsel of the company should be called
upon to settle three points First. wheth-
eli 10 was legal to hold an election OF gem
eral officers outside OF Illinois; second,
whether the charter did not provide that
the committees on law and finance and
on railroad should be elected at regular
meeting and not special meeting; and,
third, If the constitution OF the state of
illinois, granting the company It's char
ter does not provide that mo railroad
corporation shall consolidate it's stock.
property or franchises with any other
railroad corporation owning a parallel or
competing line and In no case shall any
consolidation take place, except upon
public notice given, OF at least 50 days
10 all stockholders. I'm such manner as
may be provided by law.
a majority of tho directors OF any rail-
road corporation now Incorporated or
hereafter TO be Incorporated. by the laws
OF this state, shall be citizens and resi-
dents of this state"
Gov. Deneen declined to vote on the
questions raised until the attorney-gen-
eral OF Illinois had given an opinion. No
action was taken on the points raised
by Mr.. Fish. The election then took
place.
After the meeting IL RI Hartman said:
This isn't my fight II In a fight of the
board Of directors and Mr.. Fish. ac-
Ceded TO the July agreement regarding
the election of directors at the annual
meeting only in Difference 10 the wishes
OF the board. The July agreement was
m ade primarily TO quiet the public clamor
which was being raised I'm the press and
10 silence the various recriminations |
which were being made In the public |
prints as an outcome OF the contention |
which had arisen In the board of direc-
tors. Personally. I had not a word TO !
say az today's meeting of the board. The /
hoard took no action whatever I'm regard /
TO the appointment OF any committee 10 |
road"
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