Bismarck daily tribune. [volume] (Bismarck, Dakota [N.D.]) 1881-1916, 1907-09-25
Denies COmpany's Accounts
Have Been Juggled and
Strikes Back
Says Fish Was Reckless
Of Company Funds and
Broke Agreement

Chicago, Sept. IA letter was
given out tonight by J.sT. Harahan,
president of the Illinois Central
railway, Addressed to the stockhold-
ers. In part it says:
'The statement in the circular
letter issued by Mr.. Fish to the
stockholders, and published today
that the Illinois Central accounts
have been, padded or in any way
manipulated is absolutely untrue.
He knows there has been no change
whatever in the relations Of the HI
linois Central with the Union Pacific
and So. Pacific The attack made by
Mr.. Fish upon the character of his
fellow directors and upon the OPP
Grating, accounting and traffic Off
GERS of the company warrants full
statement to the stockholders of the
reasons why Mr.. Fish was not en-
trusted with the continued manage
ment of the property. / enclose here
with a copy of letter addressed !
by eight directors of the company to
Mr.. Fish under date of Nov. Z, 1906,
setting forth specifically some rea-
sons why they would not vote for
his reelection as president. There
| were other reasons of a controlling
character which were referred to in
general terms, but out Of considera-
| ton for Mr.. Fish we're not specific
ally mentioned in our letter. The
most conspicuous of these is that
while Mr. FISH, was president of our
company and as such the virtual Gus
4 todian of its treasury he loaned to
i himself as an individual about ST.
150, 900 from the treasury of the COM
pany upon security of his own cleo
ton which proved to be inadequate
and unmarketab1e After it was de-
4 monstrated that Mr.. Fish was unable
i to reimburse the company a director
i individually loaned him the money
i necessary to repay the company.
i RI Furthermore, Mr.. Fish, who was
i member of the executive committee
of the Trust Company of the Repub-
J lie and was very active in its affairs,
4 deposited large amount of money
! of the Illinois Central Railway Co.,
! in that company after its credit was
seriously impaired, and although this
was ultimately collected, the process
required several months and during
! that time the risk was the cause of
{ grave anxiety to the directors.
d Moreover, he loaned to the president
q of the Trust Company of the Repub-
$ lie individually money Of the Him
!. oils Central Railway Co. upon mad
equate security with the result that
q the railway company was unable to
II collect the enirte amount and suffer
.oI ed loss. y
Isl The letter appended to the state
ID ment of Mr.. Harahan was addressed
ID to Mr.. Fish as president of the com
III pany. 1t was dated New York, Nov
Il, 1906, and in part follows:
I'd Gin June last, without consulting
st with other members of the board 0
or directors, You issued a circular to TIN
xt stockholders requesting proxies TO
th the next annual election, in you
at own name. At the next succeedin
N meeting of the board Mr.. Peabod
ON offered a resolution providing tina
m Directors Astor, Auchincloss, Goelet
Luttgen and Vanderbilt be appointe
committee to communicate wit
ar- the stockholders and request thei
of proxies for the annual meetini
tas whereupon you left the chair an
all board room to break a quorum, an
aI thus defeated action upon the res
or luton The board adjourned for
aw week and In the meantime as q +
rec suit Of conferences the following a
no reement was dictated by you al
;on signed within an hour before Il
adjourned meeting was to conyen
{. Agreed July 52T, 1906. 10 a. n
i d that the outgoing directors are
oes be elected, Mr.. Grinnell's success
as to be selected by majority of Sc
ige3 eral directors acting. Mr. Peabody
in resolution Of July IS to be vii
ity, drawn and not to be revived a
the year Mr.. Hartman viii ask th
de- 1.-THE Hartman uhn-Loeb proxies
low given to Mr.. Fish. Signed ST,
j o. vesant Fish, Charles Al. Peabody,
was ii. Hartman.
Shortly before the annual me