New-York tribune., 1909-05-18
rgE EPLATTSSUED AGAIN
= G EXPRESS co. ACTION.
1osn L. Dudley Makes Nor
Charges of Mismanagcment.

- T,ud.ay stockholder Of TIE United
-, E-Yrress Company. is the plaintiff in suit
"a. ou-7 behalf and in behalf of other stockhold-
-.4ns- Thomas c. Plat. Edward T. Plat,
-.-ris Iyuie Stetson. Frank Il. Plat and other
- and directors or the express company lie
=, co. the appointment or I receiver and for the
s,.xolytion Of the company. Mr.. Dudley complains
=. @o- -ine years and until last December the
.-,nznv made no report OF its affairs. and he
IS rhe one issued a that time conveyed little
incarnation the stockholders
Among other things, Mr. Dudley says that the
-o.-. and directors of the United States EX-
-.., Company have 'fraudulently and wrongfuy
-sorrned their duties" as officers and directors,
,,.sIected the affairs Of the company" and per
-oirted the money. property and effects OF said
company 10 be stolen. squandered and wasted
representative Of the firm OF O'Brien. Board
-,sn Platt & L.ttleton. counsel for the company,
~ opposing the issuance of the writ demanded fur
thsr time 10 allow ex-Justice Morgan J. O'Brien
70 prepare the answer and appear in court in per
,on sfter some argument Justice Guy set the
hearing on the motion for Thursday.
Another complaint made by Mr. Dudley is that
there has been no meeting OF stockholders Of the
1-ujred States Express Company in forty-siX years.
Article Of the agreement Of association pro-
rides he points out. that meeting OF the stock
holders shall be held at any time that tWo-thirds
NJ the shareholders so request. He says that al
though majority Of the stockholders wanted an
election they unable 10 obtain the signatures
AZ tzo-thirds Of the shareholders and that the
officer. and directors refused to call a meeting.
He charges also that the defendants voted
money and treasury stock to some Of their own
number without legal consideration; that they
have neglected the interests OF the compsny and
sousnde7es its assets: that. under pretext OF re-
runeration for services rendered. they have voted
themselves large and extravagant salaries. which
we're not earned
in his charges, Mr- Dudley goes further than +.
: spraker. the Canajoharie bank president. an
other stockholder. who has brought suit in Mont
romery County against the express company for
n accounting The Dudley action. although
brough; on February IS. old not become public
until yesterday, when the case came up before
Justice Guy, in the Supreme Court. on a motion
FOR 4 peremptory writ OF mandamus TO compel
Edward T Platt. treasurer of the company. 10
permit examination Of the books by Mr.. Dudley.
Mr Dudley calls the board of directors a self
perpetuarng body He asserts that the directors
Own less than one-half Of per cent of the stock
OF the company but have possession Of s10oO7.aO
pcrth OF property.
Nj Dudley's complaint says that Ievi c Weir,
one Of the defendants. vas president Of the Adams
Express Company. rival corporation Al the time
ns Vss elected to the directorate of the United
States Express Company, and that James g Fargo
vas director Ia the American Express Company
and Owned a one-half interest in the WelIs-Farso
Express Company AZ the time he vas made a
member Of the board OF directors of the United
alleges. owns z very small interest in the United
States Express Company and is hostile to its best
interests
Frank H Piatt. Of counsel for the company, dis
oassed yesterday the suit brought against the Off
GERS of the United States Express Company bv
benjamin r. Spraker. president Of the First Ma
uona Bank Of Cana johare. TO compel them 70 call
meeting Of the stockholders, or failing I'm this to
throw the concern into the hands Of a receiver
be saio that Le believed it repetition of the
tes 10 Vres control Of the company from the pres
ent management and that he would be satisfied IN
meet the case in He said he was not afraid
the outcome.
Speaking Of the fact that no meeting Of the
company had been held for forty-seven years. Mr
Pratt said:
The only way in which meeting Of the share
noloers can possibly be called on the request Of
tSo-thirds Of the shareholders. Under the com
panys charter not even Senator Patt himself ba .
me r1E1t 10 call such d meeting"
RE said that he owned between ru-a-,,- .,or,-,,,z
enc thlr'S thousand shares Of the conpanv's stock
out OF total Of one hundred thousand shares b,,
4'eo 10 give the number Of shares owned by
-7 u,iei members Of the Plat family He said
'iis' Nj Sfraker owned only five shares and with
oihers or the same name who he s,,nrosee ~
members Of the same family. controls 2 ,ota1 -,
seventy shares, Mr.. HIATT, he said U-b, viii NJ,
snnister processes to represent fty-tv,o tboussrd
shareholders, owns only eighty shares 80 1.
Bannister none at ali
ASKED II he thought in case or meeting of tho
SO oHhoiaeTs being called that those represented
~ the Hatt-Bannister committee coula o,,e-,tro
me present management, he replied that he did not
think
dr, Piait said that three times within the last
n'ee years the HIATT and Bannister faction had
oNen allowed 70 examine he books Of the con,pan,-
''h expert accountants. and that they had asked
u pINhege 10 DO 50 another time, but we're re-
fused and failed to obtain court order ner-
HH'urg them 10 do 20. Mr.. Platt said that there
7ss nothing at all in the charge that the COM
PenF was turning over business to other EXPRESS
c''hpanles- The United States Express Com
lanN' ne said, fights for every dollars worth of
business il can get"