The Washington times., 1914-02-01
GAS FIGHT WILL Be
FOUGHT TO FINISH
Minority Committee Admits In
ability to Win Monday, But
viii Not Cease Efforts.
BY GEORGE H. GALL.

, The fight for an increase in the board
OF directors of the washington Gas
Light Company, started recently py
number OF stockholders and headed py
a committee, Of which Edmund X. Fox
is chairman. while not expected to come
to a successful issue at the annual meet
ing OF stockholders Monday, VIII be con,
tinaed through the coming year and
waged until successful.
This Is the situation in the gas ngnt
as stated today by Mr.. Fox, the minor
ity leader. Mr.. Fox admitted that while
he had a large number OF proxies ne
had been unable to corral NUMBER
sufficient to swing the election. The
best he hopes for tomorrow is to mega
tive the election and throw II over to
later date.
Many encouraging letters have been
received by the minority committee,
the night until the changes contended for
are accomplished. One OF these letters
is from New York trust company
holding several hundred shares OF stock
in trust. The company has sent Ar.
Fox the proxies for all the shares II
holds and advised hi INTO continue the
contest
From all reports available on the eve
OF the annual election of the gas COM
pany II appears that record attend
ance and a lively session Is In prospect
Howard s. Reeside, vice president of
the company, has announced that he
has proxies for about 10000 shares and
that he purposes to vote these for the
best interests of the company. While he
does not commit himself to any specific
5ction, II Is understood that he Will not
favor any Increase in the board OF d.
rectors.
effect and his statement that the
wave of speculation" gas is fast
coming to a close has stirred up the
minority committee to q sharp answer.
In an open letter In reply, Mr.. Fox,
after referring TO President Joseph
lator. famous for his wheat pit fall
ure," says, In part, as follows:
'Second-Another member OF your
board of directors has just recently re-
tired from active service on the floor
Of the New York Stock Exchange.
"Third-Still another member of your
board of directors Is q member of the
washington Stock Exchange in regular
attendance.
Fourth-Likewise, another member
of your board 10 q member OF the wash
ingtpn Stock Exchange, and attends
the sessions regularly.
Thus. four and your seven are iden-
titled with speculation or speculative in
stitutions.
Referring to your phrase, fast COM
ing to close, please let me relieve
your mind Of any false illusions in this
regard, fro this committees position Is
honestly taken: II Is for the benefit of
the stockholders, 1t Is for the benefit
Of the public, II Is In accord with public
sentiment and progressive opinion, II is
against clique control and interlocklng
control
or later win. There Is no doubt about
our determination or about the ultimate
result"
Mr.. Fox said today that while there
are some l.4eo stockholders Of the
gas company he has been able TO
614. but he intends to insist upon get
ting the entire list. In connection
with the legal right of stockholders
to have the stock books of corpora
lions available to them the appeal
case Of the Steel Corporation in the
court OF New York. The court dis
missed the appeal OF the United States
Steel Corporation from an order di-
recting that William Theile be given
access TO its records. The corpora
tion maintained that its charter limit
ed the rights of stockholders to in
spect its books. but the court decided
that the laws Of the State overruled
this provision.
= similar case may be brought to
test the question In regard to District
public utility corporations.
President Charles Franklin living.
OF Western Reserve University. Cleve-
land, who has been in Washington
tor the past two days, points to an
investment accomplishment
by the trustees of that university. The
endowment Of the university now
TO about $500, 900. On this
the return has netted per
cent and not dollar of interest or
dividends has failed.
Fourteen of the directors of the
Second National Bank were the guests |
Of Col. William B. Thompson at din |
ner at the Continental Hotel last |
night. President Cuno II. Rudolph, |
who had been Ill with grip for |
week. acted as toastmaster.
Intelligent Investment" is the title |
Of booklet dealing with protection Of |
principal and increase Of income Just |
issued by Scudder & Company. New |
York. The booklet describes the meth |
ods used by the company to furnish in
to investors about any Sc |
curity. The company's financial library |
and statistical files, which are used |
Jointly by themselves and the National |