The sun., 1916-11-17
DAWES SEES JOKER
IN ROCK ISLAND PLAN
Protests to pr0sser That ReOr.
ganizati0n Provides for
Voting Trust.
DENIAL BY UNTERMYER
Says Chicago Stockholders Of
Road Have Wrong idea
Of Agreement.
DENIAL BY

CHICAGO, Nov. 10. - Discovery by
Charles O. Dawes to-day that. according
TO his belief. the plan for reorganization
Of the Chicago. Rock Island and Pacific
Railroad makes provision for . voting
trust for the stocks Of the new company
II the reorganization committee sees Mt
70 create M caused him 70 make an
immediate protest
Mr. Dawes. Q former Comptroller Of
the Currency. u president Of the Central
Trust Company and q director OF the
Rock Island. lie sen the following
telegram to Seward Prosser of New
York. chairman OF the Reorganization
committee:
Page ~ Of the Rock island plan
gives the committee power to create a
voting trust n name voting trustees
under the same in case Of REORGANIZATION
II surely cannot be the purpose Of your
the stockholders Of the road the right TO
manage and control their own property.
II am told that II is not the intention
Of the committee TO provide for a voting
trust. hut you will agree with me. !
think. that . reinsurance OF some kind
should be given to the stockholders in
connection with = matter OF this I'm
p~ortance. am speaking for about 900.
900 shares Of stock. and I trust you viii
assure my associates ana ne on this
point Il u due. not only TO %. but to
% that they may not depoett hsir stock
Samuel UntsFmyer OF counsel TOR NE
Joint rs~organisatioa COMMITTEES Of the
Rock Island road. upon having his at
tention called to q despatch from Chi
4 & yesterday stating that J. Ogden
Armour. Charles q. Dawes. James A.
Patten and other large stockholders OF
the Rock Island had telegraphed a pro-
test against h voting feature OF tho
plan Just issued by the Proseer commit
tee. said:
The protest Of Messrs. Dawes. Ar
mour, Patten and others against the
constitution Of the voting trust, as tele-
graphed from Chicago to-day. is based
upon q mlsapprehension on their part
Of the terms Of the plans. We arc quite
as much opposed to q voting trust as
they are. The plan does not provide FOR
or contemplate q voting trust.
'"The committees could not have como
together on such basis. We insisted.
on tho contrary. not only on cumulative
voting 80 m to give representation to
The minority. but also went further than
has over been gone before in r~eorganiza-
ton by declining to allow the board OF
directors to be classified.
THE plan requires the entire member
ship 10 be elected annually by the stock
holders SO as to prevent Interference with
the effectiveness Of minority representa-
ton. Under the plan each one-nfteenth
OF the stock can elect one Of the fifteen
directors. II that 10 the number Of d.
rectors decided upon"
LOUISVILLE 4 NAsHvnIE-Groes earn.
ings for nrst week Of November WEIR $751;
$50. inc. i5s. tss; froa! July 4 grosa IS, 2st,b:l,
inc. sa.0i:. l7S.
ST. LOUIS 4 San rRANCIsCO-Rsports 70
I. &. 4. for September gross earnings A,@U,.
$50, inc. S7t5, 1875: maintenance way and
structure &5.s, os, dec. tis3,ot2: maintenance,
equipment t79s. o+5. inc. tlss, 2is; trsnsporta-
tion 81. 400. T3a. Inc. t:7s, s$6 net after ta1cs
81 ara, tas '-c. 500. OF. For three months endcd
Sept. 30 gross was 81. sst. s6.. inc. -, 0so.e on
maintenance wsy and structure ti.s:o, e7s, dec.
IS. 3ss maintenance equipment transportation
t.oss. iS, inc, s't:,s1; net sitter taxes s. ss:.
o%i, inc. $500. ss7.
San ANTONIO 4 ARKANSAS PAss-0rcss
earnings for September were Ns0.eA inc.
SIS. 765; net after taxes elTI. t@, inc. &b.7cs
For three months ended Sept. 20 gross was
LIN. So. inc. $4,000: net after taxes $500, 30.