Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1922-02-03
PROXIES,
5 5D|RECTORS URGE
oslcs Of Request Is Sent to All
\ Stockholders Of the
Company
! STATEMENT IS ISSUED

Five directors Of the PHILADELPHIA
Hep1d Transit Companv have sent n
notice to all stockholders requesting that
- proxies be sent to officers of the
0o4pany.
S This action followed request for
4 ye.iss BY Thomas Z. Mitten. president
So the company. In preparation for the
o9noal meeting in March. Notices were
Int Wednesday asking that these prox-
W be sent to Mr.. Mitten. or c. Dunbar
ood g. A. Richardson. vice presidents.
To-day the following directors for
warded their communication to the
stockholders taking firm exception to
ene action of the Mitten management
jeremiah J. Sullivan, Land Title
Building; William Y. Triple. 1928
Chestnut street :. Charles ]. Matthews.
az Arch street; Frank Buck. 1905
North Fifth street; William J. Mont
somery. northeast corner Second street
and Girard avenue.
@ Statement Issued
The statement follows:
sTo the stockholders Of the r. II. r.
Company:
''Your Board Of Directors consists
d eleven members. Of whom three (thc
Mayor and two other citizens chosen by
CITY CounciD represent the city; the
remaining eight members of the board
are elected by the stockholders, but
three OF these are officers of the com :
pany and primarily represent the man :
aSement. The FIVE directors named
above are the only ones representing the
stockholders, aside from the officers of
The company.
Under tho existing bylaws of the
company. the business has been con.
ducted without consultation with the
Board OF Directors, and many important
steps have been taken without their
previous knowledge. This method OF
conducting the business Of the company
50, In our opinion, not satisfactory
either to the city or to the stockhold :
by.laws so that the Board Of Dircc-
tors shall have real part in the man
agement of its affairs.
without consultation with the board
request for proxies has been sen,
cut in advance of the usual time, and
contrary to custom, proxies have beer
requested only for officers Of the com
pany. The undersigned directors arc o
the opinion that proxies should not be
given exclusively to- the officers of the
company as requested.
"a more complete statement regard
ing the affairs Of the company will bt
sent about February 81. the date the
transfer books are closed prior to the
annual meeting. March 10, 1922. with
q request for your proxy. Meanwhile
you are earnestly requested to with
hold your proxy and await our furthe,
communication.'
Eleven Directors on Board
There are eleven directors Of the
-t3apsit COMPANY. three Of whom are
the Mayor, Ernest T. Trigg and Colone
Sheldon Potter.
Mr.. Trigg said today.
''It has been the policy Of the city
representatives on the p. y. i. boart
to avoid as far as possible any par
Airs Of the company. We have fel
that we were there for the purpose o
protecting city interests and not TO
interference with management.
William y. Triple, one of the di
rcctors signing the notice to stock
holders, said:
"The document to my mind speak
pretty well for itself. The director
wish to know what is going on in thu
e'@..PPany; aS not know what etrec, the NOV,
may have upon the Mitten management
The move is not directed against an.
enc. There does not appear 10 III,
mind any reason why stockhoIdrr
should be asked to send their proXic
70 certain men. when no such action ha
been authorized by the Board of Drcc
tors to my knowledge
At the offices OF the L. Il. I. it wa
said today that no statement would b
made regarding the action Of the tv
directors.