The Paducah evening sun. [volume] (Paducah, Ky.) 1906-1929, 1908-03-13
STOCKHOLDERS OF
U. P. DEMANDING
AN ACCOUNTING
Expect to Recover $4,000, 900
From Hartman and H. H.
Rogers.
Alleged Profits Made by Sale
of Stock to Company.
SUIT WILL BE FILED LATER

New York, March 13.-Formal de-
mand was served on the Union Pa
Icifc directors for an accounting of
all profits made by any of them or
their agents through the sale of
stocks to the Union Pacific. Attorney
Wallstein, of No. % Wall street, who
represents the stockholders making
the demand, said that he expected to
recover for the Union Pacific about
s26. 100000.
Service was made on Alexander
Miller, secretary of the company at
No. 800 Broadway. Mr.. Wallstein
was an attorney for Stuyvesant Fish
through all the litigation waged by
Mr.. Fish in regard to the Illinois Cen
trial. Union Pacific stockholderA
whose names are signed for the for
ment of three pages, are Lewis A.
Stores, of Hartford, Conn; William
A. Arnold, of Williamtic, Conn. AL
bert c. Bates, of West CRANKY, Conn,
anu Ilthl. ~ DUN, VI iidi liplu.
The first two are lawyers. Bates
is librarian of the Connecticut State
Historical society and Buck is civil
engineer. Mr.. Wallstein refuses to
state how many shares of stock they
own or how long they have been
shareholders.
Can't Avoid Restitution.
These men are only a few of the
Union Pacific shareholders who will
press this matter" said Mr.. Wallstein.
81 give you my word that Stuyvesant
Fish is not interested, however, much
suspicion may point at him on ac-
count of my connection with the Hi
nois Central. The men behind this
suit are among the most important
interests in the financial world.
This notice is merely formal and
We expect the Union Pacific board to
ignore II. Within a reasonable time
We shall begin an action at law and
force restitution. 1t is necessary for
us to allege in our petition 70 the
court that we have made a formal
demand for restitution and that it has
been ignored.
"Our formal notice also serves to
let the Union Pacific directors and
stockholders know that restitution can
not be avoided by announcement of a
holding company to take over all OF
fbn ctockc involved
Hartman Got Most.
81 estimate that Illegal profits were
made to the extent of s10,4O0,OO in
1.-THE Illinois Central stock. The st.
Joe and Grand Island netted some
body 100000 of profit. At least
ls15. 900, 900 profit was realized by
sale to the Union Pacific of stock in
the Atchison, Baltimore and Ohio,
Chicago and Alton. st. Paul. Chicago
Northwestern and New York Central.
"E. II. Hartman. of course, is be-
lieved TO have made the greater par,
Iof this profit for himself, but Henry
II. Rogers and James Stillman were
known to have participated. Besides,
there was the firm of Kuhn, Loeb &
Co. which made very large profits.
Members of that firm were not direct.
ors of the Union Pacizc, but we be-
lieve we can show that they were
acting for directors, and we shall en-
deavor to smoke out the persons who
stood behind that firm.
81 guess it is pretty generally
known who they were.
This is not a strike suit movement
and has nothing to do with the stock
market. We expect many stockhold-
lers not now associated with the litlga-
ton to join us. It will be pressed to
a conclusion. regardless of any other
litigation or any legislation that mas
be attempted"