Evening journal., 1907-06-01
OUTLOOK FAVORS
MANAGEMENT
Ninety Per Cent. Of Stock.
holders Of American Pneu-
matte Service Company
Cast Their Ballots
". E. |. DILLAWAY
WILL BE PRESIDENT

After battling for neary two days in an
neort to effect temporary organization
IN order that the annual election of di-
rectors Of the American Pneumatic SER
vice Company might be held the fight
which was waged between stockholders
favorable to the present management of
the company and those who We're opposed
TO it is drawing to a close and at present
the out look is that the management Will
win out by about 1900 majority.
At the meeting. which was continued
this morning. the work Of going over dis
puted ballots was taken up and completed
so far as those which were agreed upon
BY both factions were concerned. The
adding Of Hhese ballots showed that WI
liam S Hilles, opposition candidate for
temporary chairman had received 1867
votes, while Nathan Frank, candidate Of
the management received SS6S.
Large Vote Polled
There remains yet TO be gone over
some 1000 shares voted 10y proxy which
are held by followers Of one side or
the other. Some Of these proxies bear
the same date, while others are not
dated at ALL The final count will no;
be made before this evening.
In speaking OF the contest one of the
heavy stockholders said this morning
that there was but little doubt but that
the management would win and that
w. f. L. Dinaway will be rechosen
president of thee company. "The fight
viii end here" he said. "and the de-
feated ones will fall into line. The
voting has been remarkable, as fully
90 per cent of the stockholders have
exressed their will one way or an
other. Some Of the stockholders did
not vote. nor did not pay any atten-
ton to the notices sent out regarding
proxies" In all there are about 260O
stockholders in the company. Ihis
morning two blocks Of stock of $500
each. voted by a Boston brokerage firm
were in dispute. It was settled by al
lowing the opposition something over
5000 Of the votes
First Hard Fight
This is the first hard fght that the
company has had since its organiza-
ton In years past the secretary has
come to Wilmington and gone through
the formality Of casting ballot as no
opposition was manifested in the Sc
lection Of directors. It is probable at
the close of the meeting here with the
election Of the board Of directors that
organization of the board will be ef-
fected at a meeting of the directors, to
be held in Boston next week.
II was reported this morning that
Mr. Dillaway was endeavoring to ef-
fect a compromise whereby In the
event of his forces winning out that
the opposition would permit some of
its heavy financial men TO become
members Of the board Of directors.
Tbis move is being made, it is said, on
account of the fact that stronger nnan-
cial backing for the company Is neces-
sary. and this Mr.. Dillaway would be
unable to obtain, as president OF the
company unless he had well-known
men Of means upon the board At TINS
suggestion, however the opposition
forces shake their heads and utter an
emphatic mo"
Will Reduce Salaries
one point that the opposition forces
are urging as a reason that they
should be successful is that the salar-
fes of the president and secretary of
the company are far too high, and
should be cut down considerably, This
they promise to do If they win out
The salary Of the president at present
IS $4,000 per annum, while that Of the
secretary is $500. A reduction OF
s25O0 at the least is assured in each
office IL the opposition wins its fight.
II was midnight last night before the
meeting adjourned, after being in al
most continuous session since 9 O'Clock
in the morning.
Thousands Of Proxies
There were several thousand proxies
which contained revocation powers. ant
st was agreed by poth factions thai
they should go over until to-day. "
a number Of instances both sides held
proxies from Nsame stockholders, and
when the count comes those bearing
the latest date only will be considered
II is understood that this condition
was brought about by the fact that 4
was not known that opposition TO the
machine" would crop out until proxies
had been given to stockholders in favoi
Of the present regime. The admins.
tration held the majority of the prox.
les. from 1 to 500 votes, but the oppo.
sition held large blocks of stock b,
proxy ]. J. Kennedy, of New York
who represents Howard Gould's inter.
ests, voted 1885 shares for the oppo'
sitlon. John f. Mulholland. of New
York. also cast a block of 10000 foi
the opposition. Last night the force
got into an argument relative to th'
counting Of the contested proxies whicl
the Dillawayites claimed were invalid
Sherman L. Whipple is counsel for thu
opposition, while John A. Sullivan rep
resents the administration. The prox
IS IN question were given TO thos
8ting them, # is claimed, with the un
derstanding that should the election o
directors go contrary to their wishe
that they had the power to Withdraw
them and vote themselves. Whethe
>or not they have the right to withdraw
their votes after they are once cas-
and counted led TO the disputes Of las
night.
Uolt,kl. IL C4raaf