New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-10-19
MAY FIGHT FOR CONTROL
Lively Time Expected at Chi
cago Railways Annual Meeting.

The annual meeting of the Chlcaso
Railways Company will be held IN I'm
cago on next Thursday, and livery ti"ie
Is promised between the present boaro oi
directors and their supporters and an OPP
posing faction which is working 10 secu'.
control Of the stock through purchase anu
by proxy. The Chicago Railways Coii'-
pany inherited more or less spectacular
career and is in the hands OF interests
who have been identified with IL lot
number of years, some or the urec'oIe
dating back to the days when Charles l.
Yerkes was the ruling power In the street
railway situation in Chicago.
The present company was Incorporated
under the laws Of Illinois OCTOBER 'o' 1870
and on January a. 1908. 1t acquired at
foreclosure sale the properties OF the M
cago Union Traction Company No''"
Chicago Street Railway. North chicago
CITY Railway, West Chicago street KAN
road Company, Chicago Passenger Kan.
way. Chicago West Division Railway ana
West Chicago Street Railroad tunnel
The present organization was the OUT
growth OF prolonged negotiations regaru-
ing franchises which ended In the com
pany's securing the passing OK an orui
nance dated February II. 1907, grantiHs
the Chicago Railways Company twenty
wear franchise which makes ophga'o'S
the carrying out of a comprehensive pa"
OF reconstruction and extension OF 'he
nronertv. the value OF which. based OH
Tho appraisal OF the city's engineers was
s51. 465. 956 on January !, 1910
Dissatisfaction has arisen among the
stockholders regarding A plan whlch en-
braces a merger OF other liDes' "hlch t''e
opposlng faction says will be detrimeh'ai
and will defer dividend payments inden-
ritoIy The present officers of the COM
many are John NJ. Roach. president Sey-
mour Morris. vice-president; r. l.. hupp'
secretary: NJ. B. Orde. treasurer ana r.
= Smith controller. Additional directors
are II A. Blair, c. L. Hutchinson. q T.
Adsit. r. G. Chandler, r. S. Hunter ana
w 4. Hosmer.
Representatives OF the movement III oP
nositlon TO the present policy OF the com
panv are William A. Tilden. Joseph Bel
field. Napoleon Picard. J. Milton OIVer'
Henry c. Brummel and George a iui'ie'
The following paragraph from the PRINT
ed nominees pledge briefly expresses ''e
views OF the opposing interests:
"In recognition of the justice or the ne-
nand Of the travelling public, and beileV-
tho {, 70 be for the good of the city OF
Chicago as we'll as for the best interests
Of the company. we are unqualihenIy !"
favor of unlhcation. We VIII go 10 'ne
extreme limit In the installation Oh
through route lines with the chicago
City Railway Company and VIII enter
into any practical arrangement lot iIi'e'
change OF traffic with the elevateds' IN
der our management the doors OF the
Chicago Railways Company VIII always
no omen to a merger proposition from
tho Chicago Elevated Collateral Trust ana
the Chicago City and Connecting Rail-
WAYS. provided they come with clean
hands, 2. without water IN theH
capitalization
There f. no water in the capltaliza-
ton of the Chicago Railways Company
IL was all squeezed out at the cost OF GER
tincate holders-and we VIII STAND AZ
stone wall against any merger PROPOSE
ton contemplating the appropriation OF
any part OF the present or future earn
ings Of the Chicago Railways Company
es dividends on 'watered' capitalization
representing promotion profits We VIII
not enter into any so-called operating
agreement the terms OF which would sur
render control OF the operation OF your
company or involve any arbitrary division
OF revenue. nor will We by any subter-
fuge whatsoever attempt to deprive you
OF your property without your consent