New-York tribune., 1910-01-11
EXPRESS STOCK UP
United States 4dUance Leads
to Rumors of Change.

An advance OF q points in the stock OF
the United States Express Company yester-
day gave rise to a rumor that the stock
holders were about to receive a melon
In the form of extra distribution OF
some kind, but In official quarters it was
said that nothing out of the ordinary was
in store for the shareholders.
Another reason given for the advance
was that the majority stock holders, who
for some time have been trying to bring
about a meeting of the shareholders and
the election of new board of directors.
were about to be successful in their at
tempt. No confirmation of this report
could be obtained either, and apparently
the only foundation for it was the fact that
the action brought in Montgomery County.
n. T., last spring by Benjamin F. Spraker,
president of the First National Bank OF
Canajoharie. against the officers of the
United States Express Company. with the
object either of throwing the company into
the hands of a receiver compelling the
calling of a meeting of the stockholders,
was up for hearing yesterday in Glovers-
vile. n. Y.
The suit brought in this city last summer
against the officers of the express company
still pending. The suit is similar to the
brought by Mr.. Spraker. Counsel for Mr..
Dudley recently obtained an order from the
court for the examination of the officers
and books of the company and this is now
being conducted at the Offices of the con-
Germ and is likely, 1t said yesterday,
to be long drawn out affair, and nothing
has come out, SO far as could be ascer-
tanned, to account for yesterdays move
ment in the stock of the company
1t was learned. however, that the Harri-
man holdings of United States Express
stock, estimated at about 2S 900 shares, were
on the market. E. H. Hartman, shortly
before his death, purchased the American
and Adams express companies holdings of
United States Express stock. amounting to
approximately 1900 shares. and in addition.
It Is said, bought a. considerable amount of
the stock in the open market. What his
plans were in connection with the company
is not known. but it was said yesterday
that whatever they were they died with
him. and that Mrs. Hartman was now de-
sirous OF selling the stock.
If the majority stockholders, who are
seeking TO bring about a meeting of the
company, could secure this block of stock,
or even a substantial part of it, they would
be in position to call such a meeting, as
they need only few thousand shares to
give them the two-thirds vote needed for
the purpose. 1t was said on good author
ity yesterday that the committee represent
ing the majority holders was buying addi-
tional stock, but whether or not IL was af-
ter the Hartman holdings could not be
learned.
1t may have been this buying however,
that accounted for the sharp advance in
the stock. 1t opened at 123, up a point
from Saturdays close, and compare
lively light transactions advanced rapidly
to AS. the highest point 1t has reached
since 1908 when it sold up to 1904. It
reacted several points in the later trading,
closing at 1877. a net gain for the day of
15 points. The total transactions were
5000 shares