The Telegraph-courier. [volume] (Kenosha, Wis.) 1888-1946, 1908-01-09
Chicago Court Insists ir Naming
Nanto Guard Warning Factions
Of Chicago and Milwaukee
FRosT's RECORD is CLEAR
Nothing is Found to Show That He
Ever Defrauded Anyone and He
Will Still Direct Destinies
of Traction Systems

The affairs OF the Chicago and Mil
out of court for settlement Friday, in
accordance with the stipulation
sigred late Thursday by all parties>in
the controversy. Judge Tuthi1I va
Gated the receivership order granted
New Years eve.
Al the same time Charles G. Dawes,
president of the Central Trust COM
pany of Chicago, who had been ap-
pointed as one of the receivers, was
made the unofficial referee for all the
claimants who brought about the
trouble.
Mr.. Dawes, by power signed over to
hi1a by President A. c. Frost of the
railroad, has authority to look into the
affairs Of the road. Expert account
ants are going over the books of the
railroad company. After the audit is
made Mr.. Dawes has the power to de.
termine if any property has been di~
verified from its proper place. There
is no formal trusteeship and Mr.. Frost
retains his interests and control of
the road.
There is no evidence so far to show
that Mr.. Frost has defrauded anyone
He denies that there has been any
mIsa appropriation of money. To back
this up Mr.. Frost signed the paper
giving Mr., Dawes power over all his
holdings until such time as the truth
or the falsity of the charges made by
Charles ], Monahan and other stock
holders is determined.
In the meantime the Canadian
inanciers who came to Mr.. Frost's
rescue with $4,000 or more have the
matters well in hand. 1t developed
that these men furnished $1,000
more Friday morning to meet the
bond interest obligations of the rail-
road and to complete the road to Mil
waukee. This was made necessary
by the withdrawal of this sum by an
other ma who had agreed on We'd
nesday to advance this amount. This
makes $650,000 advanced by the
Canadians. Mr.. Frost's term, there
fore, as president of the road appears
to depend upon the friendship of
these Canadian bankers and the OUT
come of the investigation conducted
by Mr.. Dawes. The annual meeting
of the directors of the road will not
take place until April, and nothing
will be done in any event until that
time
The settlement out of Court has
satisfied all parties concerned. The
calamity Of failing to meet the inter
est on the bonds of the railroad has
been averted and the Chicago banks
Involved are now assured of the Sc
curity of their loans.
Gordon A. Ramsay, another re-
ceiver, sacrificed a great deal to bring
harmony out of the chaos into which
the road was plunged. It was his
final act, fifteen minutes before the
settlement was reached, that made
the settlement possible. His position
now is peculiar one. It was given
out after the conference on Wednes-
day that MIR. Ramsay was to retain
his position as vice president of the
TOdus MI. z TOSC asserts that MI
Ramsay has no connection with the
road, but he declined to enter into a
discussion of the subject.
''You see Mr.. Ramsay is not here"
he said, land you will not fud him
here. He has nothing to do with this
road. l am the absolute master, as I
was before. / control the road. We
are in better shape than we ever were
before. We are going to complete
the road and are condemning prop
erty for this purpose.
ST could have settled this whole
thing in fifteen minutes if had want
ed to give up my position-if had
been willing to sink my pride. But I
could not say that I was wrong and
would make restitution, for have not
done wrong. Neither could the law
yers on the other side say they had
put their names to bill that was
false. So you can understand the
problem"