Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-09-25
SAYS FISH USED ROADS FUNDS.
Counter Charges Made Against Him
by President Harahan

CHICAGO. September 25-J. T. Harahan.
president of the Illinois Central railroad.
last night addressed to the stockholders
statement. in part As 70 lows:
The statement in the circular letter is
sued by MIR. Fish 80 the stockholders and
published today. that the Illinois Central
accounts have been padded or in any way
manipulated, is absolutely untrue. He
knows that there has been no change what
ever in the relations of the Illinois Central
with the Union Pacific and S.uthern Pacific.
The resolutions presented by him some
weeks ago to the BOARD of directors, max
ing these charges. were referred 10 the
accounting, tramc and operating officers,
ana their reports show that the charges
were utterly grOundiess and that the &C
counts have peen kept precisely as they
we're under Mr.. Fishs administration. and
that the relations with all connecting lines
reference to alleged domination by Union
Pacific Is merely IN effort to play upon
what he supposes to be current prejruice
to further his own interests. and should
not deceive any one.
The attack made by Mr.. Fish upon his
feilow-directors and upon the officers Of the
company warrants u full statement of the
reasons why Mr. Fish was not intrusted
with the continued management of the
property. letter addressed by eight di-
rectors of the company to Mr.. Fish Novem-
Der Z. 1906. set forth specitica ly sone of the
reasons why they would not vote for his re-
election as president. There were other
reasons OF a controlling character which
were referred to In general terms. but out
or consideration for Mr. Fish were not spe-
cihcally mentioned in that letter.
The most conspicuous of these Is that
while Mr.. Fish was p, esilent of your COM
pany. and as such the virtual custodian of
Its treasury. he loaned to himself as an in
dividual about $1.0OO,pUO from the treasury
OF the company upon security of his own
selection, which proved to be inadequate
and unmarketable. After it was demon
strated that Mr.. Fish was unable to re;m-
purse the company director individually
Loaned him the money necessary to repay
the company In order to secure this loan
MIR: Fish pledged not only the unmarketable
collateral above mentioned, but also con-
Veyed his residence in New York and his
undivided interest in the estate of the late
Hamilton Fish. Out of consideration for
Mr.. Fish such conveyanceS were not placed
on record. The director making the loan
carried 1t for several years until MI. Fish
was able to liquidate it.
'Furthermore, Mr.. Fish. who was a men,
Der of the executive committee of the Trust
Company Of the Republic and was very act
I've In its affairs. deposited a large amount
OF money of the Illinois Central Railroad
Company In that company after its credit
was ultimately collected. the process re-
qu1red several months. and during that time
the risk was cause of grave anxiety to
the directors.
Moreover, he loaned to the president Of
the Trust Company of the Republic ind-
road Company upon inadequate security.
with the result that the railroad company
was unable to collect the entire amount
and suffered a loss. 1t IL due to the officers
and directors whose motives and conduct
have been impugned and to the stockholders
to whom Mr.. Fish mas addressed an appeal
based upon his charges that these facts
should be known