The sun. [volume] (New York [N.Y.]) 1833-1916, 1907-12-01
FINAL GUN FROM HARTMAN
BUT THE ROTHSCHELDS ARE NO
LONGER BEHIND MS Guns.
Walther Luttgen Does Not sign the Letter
Asking for IlllnOis Central Proxies I'm
the q. y. interest-NIr. Fish RotOrts Co
n and Believes That Hes Ahead.


The books closed yesterday for the trans
Ter Of stock to he voted at the postponed
annual meeting OF he Illinois Central
Railroad on December ~, at which the
fight for supremacy between f. II. Hartman
and StuyVesant Fish will be- decided. The
date was selected for a final stab by the
Hartman party in the form of a circular
To stockholders attacking Mr.. Fish. The
circular il signedby all Mr.. Hartman 3 asso-
ciates in the directorate except one. Walther
Luttgen. and his falling away ia looked
upon as significant. t,Ot only does il cost
Mr.. Hartman an aliv ON the directorate.
hut il istaken to sigi = that the Rothschild
family have given thar proxies to Mr.. Fish.
Mr.. Luttgen is a partner in August Belmont
a Co.
II have always rather admired Mr.. Lutt-
gen." said Mr.. Fish yesterday. As to
whether AIR. Luttgen would be counted
from now on IA one Of his regular allies
on the board like Mr.. Beach and Mr.. Cut
ting he declined to say.
Yesterdays closing of the books. Of
course, does not affect the making out OF
proxies, and these. will undoubtedly con-
tinue TO come in 10 both parties in response
to their vigorous campaigns at home n
abroad, the one dated latest being the only
onsSIFtid. EhOse in a position to know say,
however. rbat there il not likely to be
much change of position in this respect
owes the record made at the counting in
OctohRr, when il was shown cO~nclusively
that, excluding the 2Sj, GOO shares held by
ese uniOn Pacific and other Hartman com
nauicr. an injunction against voting which
was obtained. Mr.. Fish controlled a ma
iority of the stock. Tine closing Of the
books prevents, however. any further
changes in ownership Of the enioined stock.
Nj. Harfiupn recently announced n plan
for organizing a holding company which
WIS to take over all the Union Paciic's
securities, including the 2Si 900 shares of
Illinois Central IT. owns.
This has not been put through yet and
reports that the Railroad Securities Com
pany, another Of MIR. HaTriman's pro-
PsrLics. had disposed Of its holdings to
sOInc friendly syndicate are authoritatively
denied. That Mr.. Hartman has been
able To get enough Of the stock in the open
market To- turn the scale ia unlikely. II is
said. particularly as his resources are re-
ported to have been stretched to the limit
IN. che requirement 81 the Central Of Georgia
Railway frOnr Oaklcigh lhorne and Marsden
J. Perry.
THAT iniunction will stick 10 his back
like a plaster and he cant shake IL on. y
said Mr.. Fish. Mr.. Fish never takes the
trouble To s8Cak Of dIy one except MIR.
faTflllan. WhSn ne tAikS OF the OppOSlblOn.
The rest of them are only MIR. Harrlmans
dummies and hirPl men," he SAYS.
1.-The circula sent by the Hartman party
says:
In view Or his present efforts to create a
false issue in the pending election, we deem
IL proper To state the additional reasons for
our differences with Mr.. Fish. which AZ the
time our letter Of November I. 1903. was
written We hoped il would not be necessary
to make public.
3. Mr.. Fish from Time 10 time loaned large
amounts Of money ~ the Illinois Central
To himself individually. While the earlier
transactions were made on proper security
and with knowledge of some OF the directors,
the' amount Of such loans was increased by
MI Fish without the knowledge Of the board,
until IN 1909 such advances finally reached a
total Of over - .5OO. $50. aud the collateral
originally securing them pas changed and
other aud unmarketabir collateral WAS sub
stIl uted therefor by Mr.. Fish without the
knowledge or consent OF the board. The
auditing committee having FucPrtained the
extent Of this indebtednes in 1908 an in
vestigaCiOn WAS made Of The collateral then
held. and IL was found to he in large part
unmarketablc aud was inadequate. Some
of tho directors were Of the opinion that II
was their duty to remove him az once. but
others interviewed. and to protect his name
and the credit of the company n member
Of the board individually loaned him the
money TO repay the company the balance
then due. taking as security the unmarked
able collateral and n deed Of his New York
city resid enCc ard Of his interest in his fathers
estate, Withholding the deed. however. from
record. We are informed the loan was carried
over two years before n was finally liuuidated
=: with. s2OO. 800 already i'm the Trust Com
pany Of the Republic. MIR. Fish, without the
consent of the directors. about January .,
1907, deposited $500, O0O in addition of the
Illinois CentraIs money with the trust COM
pany when IL was practically IN . Iailin x
condition. His kinsman was president an d
he was "A director and member Of the eNsCu-
tive committee and active in is manage
mcnt. The directors Of the Illinois Central,
who learned of this deposit. desired to with
draw the money at once. but il developed
that IL this were attempted the trust COM
pany would be forced to suspend. Az we
are informed and believe. about One-third
of the total deposits of the trust company
at that time consisted Of money Of the Illi-
nOis Central deposited by Mr.. Fish. II was
only by gradual withdrawals. during a period
Of many months, that this money was finally
recovered.
=. MIR. Fish assisted i'm padding" the re-
ports Of the Trust Company Of the Republic
TO, the Banking Department by depOstting
money Of the Illinois Central on the eve Of
s,ichs reports. which was withdrawn imme-
diately afterward. At the end Of the half
wear. June 80, 1903. ne deposited 800. 900.
which was withdrawn the next day, July l..
On June 30. 1904 1.-THE name of the trust COM
pany having been changed to Common
wealth Trust Company. he deposited s75. 900.
which was Withdrawn the next day. July 4.
on December 81. 1904. he deposited 500. 900.
which was withdrawn January 3. the first
business day thereafter. These deposits
occurred. too. after the difficulty in recover
ing. as above stated. the 500. 900 deposited
early IN 1908. and were all made without
consulting the board.
ma. Mr.. Fish loaned TO the president OF the
Trust Company OF the Republic. individually.
sS7. 900 Of money OF the Illinois Central. taking
bonds OF the United States Shipbuilding
Company and At Ock OK the Trust Company
Of the Republic as collateral. and "a a result
the Illinois Central lost over 10000 OF the
AMOUNT loaned.
s. When the election OF 1905 was apprOachin &
ard Mr.. Fish. without consulting his fellow
directors. had sent out much earlier than
usual a request for proxies on his own behalf.
.teps were taken by the directors 10 issue a
new request for proxies on behalf of a COM
mitEes representing the board. An agree
meat vas thereupon signed by Mr.. Fish by
40 - .UrNed IN vote all DrnNiea for tha