New-York tribune., 1907-08-24
REPLY TO MR. PL4TT.
Us. EFpess Com paRy Stockholders
Dispute His Statements.

committee or the United States Express Company,
which trying 10 obtain an increase in the divi-
dends and bring about a meeting of the share
holders made public yesterday letter he had sent
10 Senator = c. Platt. president of the company.
n -eply 10 letter Of Mr. Platt's refusing TO call
q meeting Of the shareholders and denying any
msladministration in the management of the COM
Yxuy. A copy Of the Platt letter and the requests
or the Shareholders committee printed in The
Tribune days ago.
In his letter 20 the committee Nr Platt gave as
eoane o. his reasons for refusing 10 call meeting
q TIE Shareholders that they had declined 10 ex-
hit the names Of the persons represented by the
committee. TO satisfy the directors OF the
amount OF the shares and the senuineness of the
shsrehol0inEs they represented In reply M hre-
m.r says in his letter. which is dated August IA
The committee has at sIl times been ready to
exhibit the names and TO satisfy the directors. and
Is willing do so. provided they will grant
fhe Shareholders request. If the directors will
grant the request for increased return cend-
toned upon written proof that such increase is re-
e5ssted bv s majority in number and amount of
the shareholders Of the United States Express
Company. such proof will he Immediately forth
Eurnins and the same will done If your board
sill hy resolution agree 20 call meeting upon
tie comrittee's showing that majority desire a
meeting"
In his letter TO the committee Mr. Platt stated
under the articles Of association meeting OF
ths shareholders could be had only upon the writ
ten request Of the Of tHo-thirds OF the
shares. and that other power is conferred upon
ths directors 20 call meeting This is denied by
hr Kremer. who says:
The conclusion Of Law in your letter that NO
meeting nor 20 call one for any other purpose is
nnsarranted Our claim is that you nave the
board. and that you have inherent power part
n.rs and it is your duty TO call meeting for the
purpose Of eiectinE directors II your advisers
ooubt the legality of such a ca1, you have 1t in
your power 10 call a meeting for the purpose Of
ives n Nh n
E snd then have the power Of eiectins such
Years You have BEEN onnec.ed with the company
70 meeting Of the shareholders has been held. and
psny that for eighteen years prior 10 that-that is
ioT fort-five wears In ALL no meeting Of the share
~ yop @ ksow that the board Of directors hold but
o,s1 20 shsfes T .. ,he 1.i'ea states S Exp5esSs
.aares held by MI Fargo being the property of
sor eosrd holds the possession and control OF the
.ssets and goodwill ot the company in defiance OF
Ihe statement contained in your letter that for
s.s osse sFy - 0ees & and papeT Of ,he oompany has
o. lnocaIes that you have been nlisinforrned
psnys leegers per. submitted to the accountants.
NUMBER OF accountants restricted TO two.
treasurer. in a small space and documents asked
-. were refused on the ground that they could
@co.senient @ for the treasurer to be present. with
%. result that our examination was Of the most
e e.pernclaa xnd an6 is based exclusively on your
80, ultimate figures. znd such examination OF the
disclose
Ne absence OF which you complain Of
=, ne negligence which the committee complains OF
ne company. resulting in loss TO the company.
ziress,snce. O, such negligence would be your and
M s express business and your omission to protect
psn h s1 OF hs uDss States ~ ESPss ss Go Of
appear IN The books. except; possibly; upon
2, .InFloyes such have been the subject of pub
Gu. s % tns nswspapers might have been brought
itsse ask the directors TO return 20 the
sec ,ep2 ap2eaT In The books but We havs not exam
:. ss The directors have received annual salaries OF
W., W. earn fer which We DO not find any warrant
sstsno,ng That you have al the same time devoted
nor 1sor of the United States and to other business.
olaeF SIZES have been enormously paid
Ate: suggesting that Nr. Plstt refer these mat
ters 10 his counsel. the letter continues:
Tbs recover OF these VIII. IL IS hoped by
'ne eozpunissss and shareholders. increase your
oeas sssets ane your dividend paying power
ne letter then refers TO the request OF the COM
n.fsee FOR shareholders' meeting for the purpose
o' eiecting directors and says:
i9u conclude your letter with the statement that
bo,a1 OF the amount and genuneness OF the share
zee haf ss naen ,hey represent you are unable to
done fbss s9' Son admit By answerns as you have
e four OF ter Are ranss e The sn rsi s to 20 the
ms. tg for the election OF direc,ors-you answer
meeting MEETING unless persons owning two-thirds in
:f TS .. the shares request the secretary to call
a.. lIe request that you refund the amounts paid
a~ltAout value received and for damages suf
sno.y ~ negligence 20 bring a suit to have these
aHts made good 10 the company you answer by
.y,ns kno~ledge OF euch negligence. The
% nave refunded the expended for
co,nate eslate not necessary for the purposes of the
,npans you answer confessing the fact and avoid
is u nv saying you have knowledge OF any
sn r-a' suing 10 the company from transactions
estate not necessary for the purposes of the
,n,,r,psny This is not the gravarran OF the com
snS eharee You have invested nearly 81 600 600
no q large part of the time OF vosr Officers and
so- s IN constructing great buildings needed
js-.ss spGr tarposes and depriving the company of a
amount OF assets which could have been
,.nlAoly employed in Investments beneficial TO the
,sa.pe1y al OF these Things have answered
concecang tost the committee Is entitled TO an
1..- ano ooroedinS their authority.