The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1912-01-09

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stock were left to salve their wounded
/ feelings as best they might Letter
/ heads and stationery OF the corpora
/ ton were used by the men in power
without regard to expense. Men were
/ sent to remote localities to secure
| proxies, it is charged and the bills
were paid by the treasurer of the as
| ISOLATION.
1t is claimed by the plaintiffs that
4 this action was vicious and unlawful
and was devised and executed for the
purpose of perpetuating the present
/ incumbents in office. 1t is charged
that w. T. Watson, director assistant
bank commissioner, not only consent
ed to the riOtOuS expenditure of the
associations funds, but voted for the
plan; while under his binding obliga-
ton to the state, he was duty bound
| to denounce and prevent such an act.
Following this wholesale campaign
for proxies, came a new and fresh sur
prise for the mere stock owners. They
found new joker in the proxies.
When they complained they were re-
minded that they might climb a tree
for their relief The proxies had been
so worded that when made to the
board of directors, it was authorized
to vote the stock at the special meet
ing and also at the regular annual
election to be held this month.
DOIley Fights Accountants Report.
This alleged deceit was explained to
such stockholders as the insurg ents
were able to reach and many of these
people issued subsequent proxies. At
the october meeting request was
made that the special accountant
should read his entire report DoIley
was present at the meeting. At first
he refused to permit it's reading, but
under a vehement protest allowed the
report to be made public
From this report it appeared that
Fitzpatrick, Royce and Clark, as well
H. IL
guilty of unfaithfulness, the petition
charges, and had made illegal OUTLAWS
of funds and been guilty of misman-
aSement of affairs. The accountant
was asked why designations from these
three men we're not demanded and he
replied that it would have been done,
except that three members were neceS-
Sary to run the association. So Fitz-
patrick, Royce and Clark held on with
the consent and approval, it is claimed,
of Dolley. Then came a confidential
report. not made public, which set out
in detail the misconduct of the officials
three Of whom were retained by Dol
ley
They Refuse to Quit.
At a subsequent meeting to vacate
the entire mem bership of the board,
Fitzpatrick and his following stood pat
and refused to be deposed. With $500
shares of stock, for which the Fitzpat-
rick crowd held the voting power,
they declined to accede to the de-
mand to vacate and Mr.. Dolley is said
to have approved their actions. There
after, S. E. Cobb H. S. EmmersOn, w
II. Eastman, r. Il. Battey and j. w.
Bergman were elected to the director
ate. With the same polite smile, Dol
ley openly endorsed this board. With
the exception of Cobb, the men quail
fed for office. Demand was made on
the deposed directors to vacate and
again Dolley is said to have switched.
Fitzpatrick, president, Royce, secretary,
acting for themselves and the ousted
directors, refused to vacate, turn over
the books of the association or sur
render their salaries.
Shortly after this action, Clark re-
signed, was given position by Dol
ley and at the bank commissioner
j.. Raines were elected to fill vacan-
cies. They with Fitzpatrick, Royce and
Watson then constituted the board,
drew the salaries and managed the
Aetna's affairs.
Now Comes the Battle.
A little later there was an uprising.
c. T. Bolton, of Scranton, demanded
the right to inspect and make copies
of the lists of stockholders, as well as
a right to inspect proxies held by the
men in power. His demand was de-
MED and the officers refused to surren-
der the books. This action, it was
was for the purpose of per
petuating the present officers in con-
troll, as the anIl-DOltey 1dctlOA COu1O
not reach the 10000 share holders with
out access to the records
Now the insurgent stockholders de-
mand the appointment of a master. |
They want the troubles in the Aetna |
camp thoroughly Investigated and |
made public 1t is demanded that the |
money alleged to have been illegally |
spent in collecting votes shall be re- |
turned to the treasury and that both /
factions be given an opportunity to |
reach share holders and secure patron |
age.
Stockholders Inundated.
It is claimed that recently Dolley |
and his friends have written into the
bylaws a new paragraph which COM
pels visiting share owners to bring
heir stock certificates to Topeka with
hem that these shares shall be passed
IN by their own appointed committee
On credentials. This action, it is
is for the purpose of intimi-
dating nonresident stockholders and
% preserve in the power of the men in
charge sufficient votes to insure the
control OF the election.
These are all matters which the
plaintiffs in the present case desire in
vestigated They want a competent
master appointed by the court, to have
charge of the credentials and to see
hat the election is open and above
board Then, when this little row is
settled, they want the several offices