New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-05-29
ppureSentatiOn Sought on the
Ground Of Promoting More
Complete Harmony.
PROTECTIVE COMMITTEES
nIdest Broker Can Scarcely Re
call When SO Many Were
Formed-St. Louis Stock
holders Hard Hit.

r,ss as receivers for the system devel-
,,4d among the company's bankers yes
..-i.y III is contended that the latter
,-,srssts are not sufficiently represented
ed II is expected urgent recommended
ions will be submitted 10 the Federal
CART Al St Louis that the bankers Sc
,r.a representation one Of the methods
nat has been suggested TO secure har-
,,ony all round is that q third receiver
10 aopointed from among the bankers.
criticism Of the Frisco management
v,s heard In various quarters. and it
q, understood that bankers who have
brought out various issues OF the com
nsnys securities feel that an eXplana-
ion is due regarding the condition of
me company. particularly in the year
mast. and with references to the state
rsrts made concerning its finances The
Fgropean bankers Who subscribed to these
various issues are said 70 be particular
~ ipcensed a, The company's policy More
nan 100000 of the $65.3S4, l3S general
len 5per cent bonds were placed in the
Paris market by Speyer q Co.
Although only q day has elapsed since
the appointment Of the receivers, more
adjective committees have been an
,ognced and arrangements made TO safe
guard security holders than since any
ether failure in the memory of the old
ss brokers in Wall Street Speyer *
Co extend an invitation 10 the holders Of
the general lien l5-20 year per cent issue
70 deposit their securities with the Bank
rs Trust Company on or before July Is.
For Frisco Refundins Is.
The committee for the protection Of the
e. Louis q san Francisco refundng IS
announced by j. & ". Seligman & co.
consists OF Frederick Strauss. Of that firm.
as chairman James y. Wallace, president
u the Central Trust Company; y. J.
Bemphiu president Of the Guaranty Trust
COMPANY: Edwin q. Merrill. president Of
The Union Trust Company, Harry Bron-
nsr. Of Hallcarten & Co. and g. w. Cox,
ctRobert Winthrop & co.
The committee formed by William Salo-
mon q Co for protecting the interests OF
the holders Of the securities Of the New
orleans. Texas & Mexico Railroad Com
psDy is composed Of Willard V. King,
president Of the Columbia Knickerbocker
Trust Company. as chairman; Stedman
Bsttrick. Of Estabrooll x Co. Boston:
Lewis L. Clarke. president Of the Ameri-
can Exchange National Bank: c. \. de
Gersdorf Of William Solomon Co.;
Lewis Franklin, viCe-prcSident OF the
Guaranty Trust Company; \. Lichten-
stein. Of Heidlebach, lckelheimer & Co.
C. S ". BACKYARD. president OF the Penn
syrana Company for Insurance on Lives
and Granting Annuities of Philadelphia
G. II. Walker Of G. a. Walker q Co,
Il Louis. and George +. Warren, Of New
York, who is secretary Of the committee
The Columbia KnickerbOckcr Trust Com
psny will be the depositary for the bonds
In view Of the ancillary receivership or
the Chicago d Eastern Illinois protective
committee has been formed to represent
The mortgage and equipment obligations OF
the road and Of the affiliated companies.
The committee consists Of John w. Plat
ten. president Of the United States Mort
gsge and Trust Company. chairman QUO
X Kahn OF Kuhn, Loeb & Co. w. {.
Iollon, vice president Of the Bankers
Tsust Company: James G. Brady, Fred
tTck H. Ecker treasurer Of the Metro
poliian Life Insurance Company; Frank
In Q. Brown. Of Redmond & Co; Donald
c. Geddes and Robert Fleming, Of Lon
con- The United states Mortgage and
Trust Company IS the depostary
United Action Bespoken.
co,,,,,,;..,c cornDoSed Of Henry ".
Porter. Alvin W. Krech and Henry A.
reTnst has issued 20 stockholders OF trust
certificates Of the Chicago & Eastern III
neis preferred and common stock depos-
Ted With the Equitable Trust company
notice in which II is stated tnat in we"
o the appointment Of the receivers II IS
Necessary that holders Of stock certihcates
issued by the Frisco unite with the stock
holders Of the Illinois company TO protect
heir interests For this purpose the com
nites requests holders Of both the STOCK
ana the trust certificates 10 deposit lheih
With the Equitable Trust Company
A'Frisco bondholders' committee formed
IN Boston Yesterday consists OF +. '. L.
Thayer chairman; F. L. Higginson,
Francis r Hart. Alfred ID. Foster ana
frsnk l. Damon.
W. Emlen Roosevelt is chairman OF
Committee formed for protection OF pre-
isred stock Of the Chicago & Eastern
Illinois and for the Frisco trust cerun-
Gates representing the preferred STOCK
The New York Trust Company is the
teposltary.
ST. Louis. May 27.-The directors OF me
81 Louis & San Francisco Railroad had
hoped until Monday night that receiver
snip could be avoided, according TO the
statement to-day OF a director VINO
also. said spcyor & Co. was willing
10 aid the railroad but on such qualifying
terms that the ST. Louis bondhoiders
ssemed receivership the only solution
shrinkaee Of 100000.
Twelve hundred persons in St Louis
are said TO own Frisco securities ana
ufir losses on the recent shrlnkage Oh
Ssres is estimated at 100000.
II was intimated in financial and ran
'ead circles that the receivership Woulu
result in contest for the ultimate CON
uei OF the property At present no fur-
ne' demands will be made for third re-
eeyer
b + winchell, president Of the Frisco
-. Il