New-York tribune., 1907-12-01
FISH ATTACKED AGAIN
CIRCULAR BY DIRECIOho.
Former I. c. Head Emphaticatly
Denies accusations.

Fresh charges against Stuyvesant FISH aio
made in a circular sent out yesterday 10 tio
stockholders of the Illinois Central Railroad Com
pany by the majority of the directors asking the
stockholders to give their proxies for use at the
adjourned annual election to President Harahan
and Secretary HackstaT. The circular is signed
by Mr. Hartman whose name appears almost
al the end of the list: j. T Harahan. Charles A
Peabody. Robert Walton oGelet. John w Ahch-
incloss Cornelius Vanderbilt John Jacob Astor
and a G.. Hackstaf
The directors charge Mr.. Fish with persisting
by circular letters and newspaper interviews IN
efforts to make it appear that they have be-
trayed or are ready To betray the stockholders.
to sacrifice the welfare of the company and its
stockholders to another system. and are mere
puppets In the hands of Mr. Hartman" Mr..
Fish they go on assert "arrogates to himself
the sole trusteeship for the stockholders. as
against his fellow directors and seeks TO befog
the real issues by attacking Mr.. Hartman and
predicting the domna ton of the Illinois Central
by the Union Pacific or Southern Pacific, in
order to divert attention from his own miscon-
duct and mismanagement while president of the
Illinois Central"
After noting again some OF their now familiar
objections 10 Mr.. Fish. the eight directors pro-
ceed to set forth as follows certain additional
reasons for differences with Mr. Fish which
at the time our letter OF November 4 1906 was
written We hoped it would not be necessary to
make public:
tIrst.Mr; Fish. from time time loaned large
sdhounts s 9i money Of the Illinois Central him
we're made on proper security and with knoWIedge
was increased by Mr. Fish without the knowledge
or lhe board until in 1893 such advances finally
oT5fnay on5 securing them was changed and other
without Ive
f S.nt o. the board 4he auditing committee hav-
ness IN l%3 an Investigation was made OF
d Ine eollatera then held and it found be In
Of the directors were of the opinion that IL was
of the couDanv rneu,bsr 10 ,h The a ana the credit
loaned him the money 10 repay the company the
balance then due. taking security the unmarked
residence and Of his interest IN his Org Siy
Ml1hin9idins MI the deed however. from record. We
nsny nf nv SSq siready i The Trust Com
sent ot the directors, about January 1903 deposit
money with the Trust Company when II vas nT
presi9ent NJ and II'bns i'm eond'I3n, His knsnan
agean eF ATeutye h commit and active in It's
who learned OF this deposit. desired To- wthdTau
me money at once. but It developed that if this
forced to suspend. As informed and be
Trust onnsn IN OF the total deposits Of the
0r or the Illinois Central deposited by NJ. Fish. 1t
4
OF many months. that this money finally re-
Third Mr.. Fish assisted In padding" the re-
ports OF the Trust Company OF the Republic to the
no cenPa 6n h 0S svd pc trS Of hs
was was %lthdrawn immediately afterward At the
10000. which was withdrawn the next dav july /
bvin nun hen ''t 111e name OF tne trust company
Company. he deposited $4,000 which was with
he deposited s1O03d. which was withdraw Jan.
occurred. lty in
covering. as above stated the St1000 deposited
early in 1905. and were all made without consulting
Fl Fogrth-Mr, Fish loaned to the president of the
Ooo OF money Of the Illinois Central. taking bonds
stock of the Trust Company of the Requisite MS
collateral. and as a result the Illinois Central lost
Fifth-When the election OF 1906 was approaching
tors. had sent much earlier than usual request
for proxies on his own behalf. steps taken by
behalf of committee representing the board An
agreement was thereupon signed by Mr.. Fish. by
going directors and to MI the vacancy then exist.
oTty of the directors In direct Violation n of this this
az agreement 5 m M his 2wn interest solely he refused
the directors and voted for his individual nominee
Ths Was the ciima2 Of bad fath which eonvinel
his fellow directors that further forbearance would
II is proper to add that some of the specific acts
members of the board until after the last election
of Mr.. Fish as president.
president last year. and while serving his
pired term director. be has kept up dissensions
in the board and has sought in many ways en-
harrass the administration of the property under
charging his fellow directors with suhservency 10
the Union Pacific (which is a connecting and not
competing line) he has allied himself with a rival
system, competing throughout almost the entire
territory from Chicago to New Orleans. by becom-
ing a director and member of the executive
relations with the Texas g. Pacific Iron Mountain
Wabash and other companies Is of the strong
est competitors of the Illinois Central.
The most recent example of his reekessness I'm
his interest at the D the
stockholders for whom he affects much concern.
ton OF a suit in the courts at Chicago establish
the proposition that corporation has the right
stock in any Illinois corporation-a PROPOSE
tion which, If finally established. will necessarily
work great injury to the stockholders of the illf7
nois Central Railroad Company. we'll other
large systems Incorporated under the that
state and may jeopardze the integrity the fIIi-
nois Central system itself. which formed SO
largely through the acquisition and ownership of
stocks in other companies
When he saw this circular MIR Fitch called il
a desperate and vicious attempt to get proxies
fol the avowed purpose of re-electing Z. II.
Hartman and perpetuating the Union Pacific
control of the Illinois central and "a confession
of defeat" IF 1t be Mr.. Harrimsns purpose to
divert attention from the bad eminence he at
tanned through the Chicago & Alton disclosures
and his Investments for the Union Pacific. as
shown by the Interstate Commerce Commis-