The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1929-05-23
CLEVER COUP
GIVES MINORITY
RAIL CONTROL
Van SWeringenS Are 0uSted
From Wheeling Road at
'Rump' Session.

nv tNN'H iffFF
CLEVELAND. o. MAY 23.-Fol-
loving the most sensational coup
detat in modern railroad history,
the Taplin Brothers Of Cleveland
today were to appear in common
pleas court 10 defend their claim 10
absolute control Of the Wheeling and
Lake Erie system.
Control Of the railroad was vrested
from the Van SWeringen interests
Wednesday night by the un-
precedented action Of the Taplins.
minority group. IN ousting the old
administration and electing an en-
tlrely new board Of directors in a
'rump' session following the annual
stockholders meeting.
The Old directorate. denying
legality Of the custer. Immediately
secured an Injunction to prevent the
new board from functioning and
called police TO guard Wheeling of
fees and prevent the Taplin elected
officials from securing possession of
the office files and records of the
road.
Two Sets of Directors Fight
Declaring The restraining order
illegal, the TspIins today were to
demand that all records and physi-
cal property of the railroad be
turned over to the new executives.
1t vas said 10 be the first time
ON record that two boards of di-
rectors and sets of officers, each
claiming authority varied for con-
troll of a railroad.
Frank E. Talpin, leader Of the OPP
position. who was elected chairman
of the board and president of the
railroad at the "rUmp' session. an
nouuced ne would fight the injunc-
ton on the grounds that officers Of
a corporation can be restrained
from occupying the posts they
claim only by a quo warranto pro-
Ceedine.
When the annual stockholders
meeting convened Wednesday. it
was regarded as a foregone con-
clusion that The Van Sweringe1's
Nickel Plate and Allegheny cOrpo-
ration holdings of Wheeling prior
lien stock would control the session
with $4,000 shares of prior lien as
compared with 769 represented by
the Talpins.
Protested Van Sweringen Stock
The TaplinS opened the stormy
session by protesting the right OF
the Nickle Plate and Allegheny in
terests 70 vote their stock on the
grounds that il had been acquired
illegally. This was based on the
interstate commerce commissions
0ivestiture order of March II. citing
the Nickle Plate for violation Of the
Clayton antitrust act.
The Taplins protested the right
of W. l.. Duncan, who contends he
is legal chairman and president. to
sit as chairman of the meeting on
grounds that he was formerly elect
cd by stock illegally held by the Van
SWeringen interests.
Hold 'Rump' Session
As election to fill vacancies caused
by expiration of terms OF five direc-
tors was about to proceed. a motion
was made TO adjourn the meeting
until Aug. /. pending decision OF the
question of legality of the Van
Sweringen holdings. A vote was
taken and Duncan declared the
meeting adjourned.
The Taplins protested that results
of the vote to adjourn were errone-
Gus, and said they would proceed
with the meeting regardless of Dun
cans ruling. Despite this the Van
Sweringen allies left the meeting.
The Taplin group, remaining, pro-
ceeded to elect George T. EilliuS
chairman. and then elected an en-
tirely new board.