New Britain herald., 1917-10-24
ROW At MEETING
OF new HAVEN
CONTINUED from First Page)

|
leading nowhere and to this Mr..
| Nixon replied that he had tried to
make the point clear that the annual
| report should show the real value Of
the company.
Mr.. Hitler wanted his motion acted
upon and Mr.. Nixon asked If debate
was to end President Pearson said
that this was not so and asked vice
President Buckland to explain the
| situation.
Mr.. Buckland said that this was the
time for debate. The officers were in
terested in getting a correct financial
statement. AS to marking down values
1T ought to be right to mark up values
on properties which are worth more
than the book values He referred
briefly to certain assets. This brought
Hagop Bogigian of Boston to his feet
to ask what had been done to get the
trolley properties back to the New
Haven road. Mr.. auckland said he
could not admit that the premise of
the directors was any different from
that of the government. The latter
placed the properties in trusteeship.
The attorney general Of the United
States was in town today for the
Liberty loan and he hoped that the
1ucCClIIS might near from MIN on the
attitude of the government
Y Mr.. Bogigian said the trolleys had
been "stolen' from the road and the
department of justice or Injustice"
or the commission on interstate COM
merce or obstruction Of commerce.
gives no assistance.
He thought the directors ought to
explain what they were doing to get
back the trolley properties.
Mr. Venner moved to table the
motion to accept the annual report.
Several stockholders made motions
| until there was quite a parliamentary
! tangle and brought a protest from
Benjamin Spier that the motions were
contradictory. President Pearson
called on Mr.. Bucl<land to decide and
| the latter said that Mr.. Venners
motion was subject to a stock vote
and on viva voce vote was carried.
Mr.. Bogigian asked if the meeting
was being properly conducted as the
bylaws provide that Howard Elliott,
| the chairman of the board of directors,
should preside.
Later Mr.. Elliott said that he had
gratitude for the good words of Mr.
Bogigian but as he had resigned as
chairman of the board there was no
such office and President Pearson
"S' AAsoAieA"AiJ ~ NIL DOSl-
gian said that the stockholders should
have been notified of Mr.. Ellintt's
! action.
Mr.. Hitler had offered a motion con-
corning the directors but Mr.. Venner
| claimed it conflicted with the bylaws
and this point was upheld by the
chair. Mr.. Hitler was on his feet sew
eral times to ask questions and raise
! points of order. One inquiry was as
| to whether the directors had enough
proxies to control the meeting. A tel
! Ter said proxies in hand represented
| 1,169,277 shares.
Former Lieutenant Governor Blakes-
lee declared that the only question was
on ballotting for charter amendments
relating to directors. Mr.. Bogigian
! said he believed stock holders should
! have the proxies looked at in black and
! white. Mr.. Blakeslee said no one in
New Haven would question the verac-
ity Of the tellers. Mr. Bogigian dis
claimed Islander or intent to reflect
upon any person. Mr. Venner insist
ed the discussion was irrelevant and
the chair should order business to go
on. The chair ordered the ballot TAX
en-. Mr.. Hitler maintained that the
! stockholders ought to have the right
to name a teller.
Mr. Elliott was asked to explain the
creation of the office of chairman Of
the board of directors. He related
| how various officers of the New Haven
company in the isterest of efficient Or
ganization of various subsidiary prop
! critics were made the heads of these,
and in order to have an officer over
these heads the Craftsmanship was
made and became an important one.
Then come dissolution suits and the
charm anship became unnecessary.
! The structure of the New Haven COM
pany has been entirely changed. Mr..
Bogigian demanded that President
Pearson explain why four directors
who were in Office before Mr.. Elliott
became president are retained now.
; Mr.. Buckland replied saying that in
conversation with Mr.. Bogigian yes
} | terday in Mr.. Pearson's Office he had
said that four directors came just af-
ter certain transactions had been car
ried through. "Mr. Bogigian took is