Semi-weekly herald., 1911-12-18

of transferring few articles Of per-
sonal property Of small value, in addi-
ton, was one of expediency, and of
no great moment whichever way was
decided. The notes and accounts had
been already pledged, and could not
be taken back.
On the Question of an investigation,
about which so much has been said,
that was a. different matter in which
Mrs. Armstrong was not interested.
She would only object if it tended to
interfere with or delay her rights and
remedies. II the stockholders wanted
to turn the property back to her, she
would take It if they acted at once,
for there was no chance to get anoth-
er stockholders meeting; or the work
of getting one, would not
be again assumed. If they did not
want to act then, Mrs. Armstrong
was ready to begin foreclosure.
Haughey's motion to examine the
books was only Objectionable in that
it was coupled with the proposition
to delay action on the plan to recon-
vey until he reported on the books.
AS that .yould carry action over the
meeting, and to an indefinite time
in future, it could not be entertained
from our standpoint; and those pres
ent judged that the company's in
terest did not require such delay The
two propositions were so disconnected,
and the persons interested in the
two, were so distinct. as to have no
relation the one to the other. Haugh-
ey's fondest dreams OF finding all
former directors guilty Of peculation
and theft might be realized, without
in the least varying Mrs. Armstrong;
right to require action upon her trust
deed indebtedness; and she would not
therefore wait for something in which
she had no interest.
To lend less lustre to Haughey's
magnificent effort in behalf of the
farmers, he had already at the August
meeting of stockholders endeavored
all day to get the meeting committed
to an investigation of the books and
failed, By dint of motions and ap-
peals, in and out of srder, he sue
ceeded in throwing the meeting into
a kind of pandemonium all day, and
so much confusion that it was with
the greatest difficulty that board
Of directors could be elected for the
ensuing year, before the stockholders
left for their homes. Many of them
living at a distance, left before they
had chance to vote. A proposition
of refinance or recapitalize the COM
pany, mentioned by one of the most
influential stockholders, and in which
the members present were evidently
much interested, but which under the
bylaws must come up for considera-
tion after the election of directors.
WIS barred entirely of consideration
because of the incessant clatter, and
the meeting disbanded before the sub
ject could be reached.
When asked short time ago, why
he created so much confusion in a
business meeting like that, disturbing
the course of proceeding with irrevle-
want matters, assuring him that he
could get all the examination of books
he wanted by applying for it out of
meeting, in a proper way, to those in
custody of the books, assuring him /
would do all could to facilitate it,
Mr.. Haughey replied that the direct
ors had failed to employ him for $50
as offered by him; and that he had an
interest to protect, because where
as, year ago he was employed at
$75 a month to organize the fam-
ers; now, because Of the failure Of
cooperation in the mill company, the
farmers were refusing to permit him
to organize them longer, and he was
out of a job
| am told by one of the board that
he made substantially the same state
ment to him.
Our readers may draw its own con-
clusion.
PAUL G. ELLIS.