The San Juan islander. [volume] (Friday Harbor, Wash.) 1898-1914, 1907-09-28
after THE PROXIES
CONTEST FOR CONTROL OF ILL.
IEOIS CENTRAL IS ON.
Former President Fish Makes
Appeal in Circular to Stock
holders, Making Charge of
Fraudulent Representations on
Part of Present Management.


Fish, former president of the Illinois
Central railroad, has made public
circular addressed to the stock holders
OF the Illinois Central Railroad Com
pany, in which he asks for proxies to
be used at the annual stockholders
meeting to be held at Chicago Octo-
Der 16 next. At this meeting four d.
rectors are to be chosen, three Of them
to succeed John Jacob Astor, Stuyve-
SAINT Fish and E. 81. Hartman, and
one to fill vacancy for term of one
year. Coming down to recent history,
Mr.. Fish says:
"The methods pursued by those of
your board of directors who act in the
interest of the Union Pacific have been
so highhanded as to become the SUBJ
ject of widespread comment. At
recent meeting of the board I offered
resolution of inquiry into subject
matters which should properly be dis
closed to every stakeholder. While in
the act of reading my resolution, Mr..
Peabody, representing the Union Pa
cica interests, moved to adjourn, and
j. T. Hanrahan, who was presiding,
summary closed the session. Later,
through the power given by the by
laws, the minority, who truly repre-
sent the interests of the Illinois Gen.
trail shareholders, called special
meeting, whereat I offered a resolu-
ton of inquiry into the evident pad
ding Of accounts. Such inquiry was
necessary.
cit appears from the annual repuort
of the Illinois Central company for
the year ending June 80, 1907, that
there was an extraordinary increase in
the net receipts of the corporation
during the last four months, which in
crease is wholly inexplicable and obvi-
ously inconsistent with the facts upon
any proper accounting, and clarly
made for the purpose of producing
favorable but fictitious showing. The
first third of the year showed an in
crease in net receipts of 1865, 07O.
Then came the change in the presi-
dency, and in the next third of the
year the net receipts decreased by
1912, $50. Finally, in the last four
months they we're suddenly increased
by 81, 253, $50, of which increase $6O4,-
ISL is reported as made in the single
month of June.
''This palpable misstatement is fur
Their emphasized by the fact that, al
though neither the mileage nor the
operating conditions had changed in
the slightest degree, the succeeding
month of July showed falling off of
$35, O9S in net revenue, as against the
reported gain of $604,7lI. Yet my
resolution of inquiry was referred for
report to the president, the very OFF,
Ger who had brought the accounting
directly under his own control.
cup to this time I have not asked
for single proxy, nor would [ do so
now we're it not for the extraordinary
efforts the present management are
putting forth with the evident inten-
ton of electing g 81. Hartman and
such persons as he may select, backed
by the holdings of the Union Pacific
company, which constitute practical
balance of power.
''Do you wish your property to be
managed, as heretofore, in the inter-
est of the whole body of stockholders,
or to be dominated ty the Union Pa
cfic, which, if thus put in control for
four years, will in that time cause
such permanent traffic contracts to be
made as will deprive theI illinois Gen.
trail of thep roper enlargement of it's
advantages. ="