The Bemidji daily pioneer. [volume] (Bemidji, Minn.) 1904-1971, 1908-02-21
HARTMAN WINS OUT
Given Decision Against Fish in
Illinois Central Litigation.
INJUNCTION IS DISSOLVED

Stock Held by the Union Pacific Rail
road Company and the Railroad Sc
curities Company Van Be Voted at
Directors Meeting.
Chicago, Feb. PIE. H. Hartman
gained complete victory in the ILL
nois Central litigation which has been
in the superior court since last Octo-
Der. Judge Ball rendered a decision
dissolving the temporary injunction
granted to Stuyvesant Fish by which
2S6,231 shares of stock we're enjoined
from being voted at the annual meet
ing of the Illinois Central Railroad
company. This stock, which was
held by the Union Pacific Railroad
company and the Railroad Securities
company of New Jersey can now be
voted at the annual meeting which
will be held in this city March 2. The
decision Of Judge Ball was quite ex-
words. He says, in part:
'No act prejudicial to the Illinois
Central or to its stockholders is
shown to have been done unless the
mere fact that the Union Pacific and
the Railroad Securities company own
20 per cent of the stock of the Illinois
Central be considered to be so. Since
the retirement of Mr.. Fish from the
presidency the policy of the company
has been the same and it's executive
officers, with one exception caused by
death, have remained the same from
that day to this.
''The relations between the Union
Pacific and the Illinois Central are
now what they were when Mr.. Fish
was in power and assisted in shaping
and consented to such relations. Nor
is any change intended, il the afida-
Wits of well known and reputable men
be considered as true. The bill, how
ever, charges many things which may
happen to the detriment of the ILL
nois Central and it's stockholders if
the Union Pacific and the Securities
company be permitted to vote at such
meeting; but no facts are alleged or
proved which even tend to bring about
such results. Courts of equity act on
facts alleged and proved and not on
fears or supposed prophesies. If it
were not for the fact that the name of
Hartman is name to conjure with
these allegations would not be taken
so seriously. =.
Charges Not in Concrete Form.
"There are many things stated in
the bill as to the intention of the de-
PENDANTS which, if put in force, or
even attempted to be put in force,
would call upon the court to inter-
vene; but diligent search of this
record fails to show that such things
exist in any concrete form"
The court then entered upon a long
discussion of various statutes regard
ing the holding of stock by corpora
lions in other corporations, declaring
finally that such holdings are not pro-
hibited nor opposed to public policy.
He then said:
"The right of the Railroad Seeuri-
ties company to vote it's Illinois Cen
trial stock is unimpaired by the fact
that the Union Pacific owns prac-
tically all Of its stock. So long as
the voting power Of the Securities
company is secured in lawful man
ner and for lawful purposes it is i'm
material who. owns it's stock"
The decision further asserted that
the Union Pacific and the Illinois Cen
trail are not competing but connecting
lines and that the Union Pacific un-
der it's charter and the laws of Utah
has a clear right to own shares Of
stock of Illinois Central, which it pur
chased in 1905, and that it has the
essential right to vote that stock at
meetings Of the stockholders of the
Illinois Central.
The attorneys for Mr.. Fish agreed
that the opinion Of Judge Ball could
not be appealed from.
ut is non-appealable ORDER" said
Attorney Farrar, between puffs from
large black Havana. "The merits
OF the case must now be tried, a de-
cree entered and then we will be able
to take an appeal,