The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-06-06
DIRECTORS DIFFER III ! b
OYER MARINE DEAL
Two Resign as Proxy Holders
and Two Others Also Are
Opposed to Sale.
STOCKHOLDERS NOTIFIED
Platten Asserts Liquidation
Would Place a Burden on
Owners Of Common,

The objections to the nlan for th. .aio
OF the International Mercantile Marine
Company's British tonnage and the s,,h-
sequent Liquidation OF The oomnany
which have been WHISPERED about the
financial district ever sipca ~. ,ra,,..,
was first announced was hrnya,,. 80.
the omen yesterdav ub.r ty,,o ,,,,...,.D
of the company resigned from o. go,
con,rnittee. on 1vb,ch ,h.,, ,.n,.
be.r nlacst, -rvo n,ns. a,..s. ~ aao
known. ara onnos.d e.. a. ss.o' ~ 10
W pi,,tan 90 n N, 60. :. "nsaco'on.
two dir.c,ors n,h..o o were tne
nroxv con,n,j,,oa III" "ere OF, the
tor. hs,ng ponaIa %. I,ner two ooJec-
Stora oeuue9 ana IharIes
. snao,,I
h.IS ,os,a.s.'. s VI .ne directors was
60. 80 N1 % 1,' az which Mr.
,ro 80. wi. a.'e" Withdrew from
t,, s,, ''eo- Aiter that meet
, s cne lolom,"s circular was prepared
reoh r. rarVin. secretary OF the
company. ana sent to the stockholders:
Circular to stocLhora.
@ .ne oate OF May 22. 1919. there
,ha .ta,'u SUu q no.ice OF a meeting Of
80 80 ,onn 70 De heio the 18th day
~, 49," 49, ioi me purpose OF voting
national Navigation Comnanv Tdm,,sd
9 ..a.,.,.s,s E Una your company. as
a.n.o .heIeoI' approves the ac-
49, 80 ~ .an, oHer made under
sa.... "a 10y .. lsis, 70 Haroid A San
49,. ah OF the international
$500 Company, Limited. by
Snha,s MOTIFS, Crisp Co, In
ISt. ol cnents Tor. the sale by the
uns 70 ou"ai .NaIgation Company, Linn
's ASSETS ana other assets re-
nn,,ea eiereln. accompanying sucl,
notice was proxy In which p. A. &.
a.. M M, .; =. Morgan, #. A. Wander
n ~. sou ana :: w: Platten were
-. pIoNy hoioeIs. we peg 10 ad-
VIC. you snat Messrs. scott and Plateen.
, Nv oL inc sentlenen- named as proxy
so ~ nave resigned as proxy holders
~ . ua1. 'h mat they disapprove or
,. 80 Al you nave signed and for
Narueo proxy IL WOULD De proper for
you. you desire to change your action
unu uiese cireuhstahces. 10 revoke the
poAy ESQ h3.Iy the company or your
S' ohiess you give notice OF
nc I.Toca.'on OF tne proxy me proxy AS
IS ssp VIII Maho ana De voted IN favor
app'o'hs 'he SAFE III you nave not
eeu a proxy ana care TO DO 30. BE-
- eisl'nS the same please delete the
Vi 'n7Ssrs' scout ana ilatten.
franklin Admits differences.
"a. rrankhn. PRESIDENT or the
80 .hn n.y. IN commencing on the action
.ne W. o'rec,ors VINO nave Withdrawn
.,.v tne proxy committee. SAID that
tls SHOWS there Is oiHerence OF
OPINION among the directors to-day as to
wneener 'ne ptan fs TOT the best interests
y, the sharehofders ASKED II any other
oiIerors were opposed To the seie. he
adn'tt.eo ,thee TWO DINERS MI Geddes
ana MI. stone, did not favor the trans
scafon. :. - '.-'---ss->
Is a very complicated problem.
ssiu MT FRANKLIN. and problem re-
Earoihe "nich people naturally have dit-
terences OF opinion
Mr.. Piatten declared yesterday after
noon that he was opposed to the plan
TOT the sale and LIQUIDATION because it
places "a big burden on the common
sharehofders'
am opposed, he asserted, ITO any
sale of the British assets OF the Interna-
tonal Mercantile Marine Company which
carries with II the complete liquidation
OF the International Mercantile Marine
Company and places burden on the
common shareholders. My name was
placed on the proxy committee while l
was away and without my knowledge
that the recommendation of the directors