Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1908-02-20
Judge Ball DissoIves In
junction Permitting
a Vote.
HARTMAN VICTORIOUS
Holds Outside Railway COmpa-
nies Have Right to Own
Shares.

Chicago. Feb. 2O-Judge Ball today
dissolved the injunction against the
Illinois Central stock granted to Stuy-
vesant Fish last October. This decis-
ion is in favor of Hartman.
The temporary injunction was secur-
ed by Fish, who was formerly presi-
dent of the company, and enjoining the
voting of 2S6,231 shares of stock at
the annual meeting of the Illinois Cen
tral company.
Can Now BE Voted.
This stock, which was held by the
Union Pacific Railroad company and
the Railroads Securities company of
New Jersey, can now be voted at the
annual meeting which will be held i'll
this city March . Fish was joined in
his suit by former Senator George F.
Edmunds of Vermont, John A Kasson,
former minister to Austria, and by
William H. Enright.
Holds Hartman Controls.
The bill alleged the defendants held
a controlling part of the outstanding
stock of the company, and that the
board of directors was dominated by
Hartman, and said the voting of this
stock should not be allowed, as it
would injure the interests of himself
and other stockholders.
The bill was based on the theory
that the public policy act of Illinois
prohibits foreign corporations from
lyI -,
corporations save in certain exceptions
allowed by statute.
The complainants contended that the
fact that certain violations are allow
ed by statute proved the public poIicy
act should hold good in this instance
"CnIIed MOngreI."
The Railroad Securities company OF
New Jersey, which is a holding and
investment company, was characteriz
ed by Judge Farrar, counsel for Fish
in his injunction proceedings, as a
"mongrel' corporation. 1t was shown
during the arguments that much OF
the enjOined stock stood in the names
of clerks employed by Kuhn, Loeb &
Co. of New York
Fish Had Used 1t.
Counsel for Hartman cOntended that
in the previous annual meetings Fist
had reaped the benefits of votes O
this stock, and that if such voting wa.
illegal, he was aware of it. and Should
not be allowed to enjoin it from bein!
voted by other people. During tn,
hearing many affidavits were filed OF
each side accusing the other of illega
acts and with seeking to control III,
railroad to further his own ends
Was Lengthy Ruling.
The decision OF Judge Ball is quite
extended. Afte" citing the history o
the case and going at considerable
length into the various claims and as
sertions made by both sides, the cour
went on to say: There is but on
ground upon which these bills can b
maintained. If the Union Pacific ha,
no right to buy, hold or own stock i
the Illinois Cen,"al company, or eithe
of them is interested in this electio
wholly without rights, the bona fid
stockholders without alleging probabl
injury may ask the court to throV
them or it out.
Il am of the opinion the securitie
company and the Union Pacific hav
full ownership CT shares of stock hel
i'm the Illinois Central, including tn
right to vote hat stock at the comm
meeting of the stockholders and tn;
such right to vote is not forbidden b
the statutes of the state nor by dec
sions of our supreme court, nor /
public policy n Illinois. The motto
to dissolve is allowed
No Action on Loan.
New York. Feb 20.-No action W;
taken by the directors of the Iilino
Central railroad at a meeting in tn
city yesterday upon the proposed
sue of $30,OO0,0C0 of equipment OBJ
cations which was to come up for di
cussion. Officials of the compaI
said that nothing definite on this mi
ter was done. L. H. Hartman al
Stuyvesant Fish attended the meetin
Mr.. Hartman, when questioned abo
the proposed issue, said: at is II
every railroad that has 100000
Of free equipment"