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THE MINNEAPOLIS JOURNAL.
PRICE TWO CENTS. ' ■ • ■ )• - , - '■■-". i.- -:. . L-. I p—-ZZZZ^^^^^l W-0 SCHLEY CASE IN CONGRESS Resolution for Investigation Offered in the House. VOTE OF THANKS, TOO Matter Fast Assuming a Partizan Political Aspect. HIT McKINLEY ADMINISTRATION Democrats Attempting to Involve It in a C'oloHHal Xtival '''-' Scandal. Washington, Dec. 17.— Representative Wheeler of Kentucky to-day introduced a resolution to Investigate the conduct of Rear Admiral Schley from the time he took command of the flying squadron up to and including the destruction of the Span ish fleet July 3, 1898. It recites the ac tion of the court of inquiry and declares the American people desire an investiga tion by citizens not connected with the navy department. Representative Mudd of Maryland in troduced this resolution: Resolved, That the thanks of congress and of the American people are hereby tendered to Rear Admiral Winfield Scott Schley and the officers and men under his command for their victory over the Spanish forces and the destruction cf the Spanish fleet.ln the naval battle on* Santiago de Cuba, July 3, 3898. Mr. Mudd says the resolution is not the result of any concerted action by the Maryland delegation and represents his individual views. Representative Cooper of Texas intro duced a resolution declaring Schley in command and entitled, to credit for -tho victory at Santiago, and directing that he be placed on the active list with the rank he held before retirement. Representa tive Vandiver offered a resolution reciting that the language of the court of inquiry reflected upon Admiral Schley and calling for an investigation by seven members of the house which shall investigate what injustice has been done and whether envy, jealousy, rivalry or other factional feel ings exist among naval officers, and what remedy should be applied. Representative Norton of Ohio intro duced a resolution proposing the restora tion of Admiral Schley to the active list. Secretary Long this afternoon informed Senator McComas that he would grant Admiral Schley "a attorneys an extension of twenty-four hours of the time orginally allowed for the submission of their state ment. Thisy will make the time expire Thursday at 4 o'clock. , Stayton & Moore, who appeared before the court of inquiry as attorneys for Ad miral Sampson, have applied to Secre tary Long for permission to be heard in protest against the aprpoval by the secre tary of the minority report written by Admiral Dewey. The secretary has con sented to receive any papers they may car© to submit. DiOI'IRV BY COXGRKSf Demand Therefor Overwhelming, Bat There Are OhNtacle*. From The Journal Ituraau, lioom +3, j-,,,t Building, Washington. Washington, Dec. 17.—Public opinion is practically unanimous h*re that congress will investigate the navy department. An investigation would lay all the secrets of the navy department bare before the country, exposing the cabals, the petty hatreds and jealousies, the countless games of cross purposes, and the malev olent schemings of bureau officials, which are directly responsible for the Scbley affair, and have scandalized "the depart ment since the Spanish war. Such an opening of the whole question, it is claimed, would be directly in the interest of fair. play. Since the verdict of the court of in quiry was handed in I have interviewed more than a score of members of con gress, who say that congressional opinion. Continued on Second Page, WIRELESS POLITICS. The Political Linesmen —Where do we come in now? FROZE TO DEATH One Dies at Omaha—Others Will Lose Hands and Feet. Omaha, Neb., Dec. 17. —Last night's cold weather proved fatal to one man and two others were so badly frozen that amputa tion of their limbs Is necessary. Thomas Jefferson, a colored man, was found unconscious in the rear of a saloon and died at the police station. George Rhodes, a sewing machine ag^nt, was found in Riverview park by the watchman. His hands and feet were frozen. Fritz Heintz was found under the Douglass street bridge in a half frozen condition. Rhodes and Heitz were taken to the hospital, where both may lose hands and feet. NO REMOVAL Tacoma Report Concerning Judge Noyes Declared Untrue. From The Journal Bureau, Jtoom 45, Pott liutlding, Washington. Washington, eDc. 17. —Attorney General Knox to-day denied explicitely that he and President Roosevelt have decided to remove Justice Noyes, as reported in a special dispatch to The Journal frcjm Tacoma. 'Judge Xoyea' case has not been a sub ject of discussion between the president and myself at any time since he has been in office," said the attorney general, "neither have I begun to consider the case. I am waiting for the conclusion of proceedings before the circuit court of appeals at San Francisco in order that I may get the benefit of the evidence pre sented there." Fighting; for Harding. Senators Gamble and Kittredge have taken the case of Major J. W. Harding, recently removed from the Indian agency at Yankton, S. D., to the president. They had an interview with the president re garding the action of Secretary Hitch cock a few days ago and again to-day. The conference was short, but there prob ably will be another in a few days, at which the case will be discussed more fully. The South Dakota senators are prepared to fight to the last to have Harding reinstated, or at least have his record clear of charges which they be lieve to be untrue. South Dakota Hills. Senator Gamble to-day introduced a bill providing for the taxation of lands embraced in Indian allotments, such taxes to be paid by the federal government. He also itnroduced a bill for a $200,000 build ing at Yankton and to pension P. F. B. Coffin of Huron ?50 a month. Thomas Feneran of Madison $30 a month and George W. Graham of Woonsocket $45. Senator Kittredge introduced a resolu tion providing for the payment of six months' salary to the widow of John J Healy of Ipswich, a former employe of the senate. —W. W. Jermane. About 1,200 negroes in Jamaica and ad jacent islands have been engaged to help build a railroad from Quinto to the coast of Ecuador. A Hearse Sent for a Live Man Special to The Journal. Norway, Mich.. Dec. 17.—As a result of a mistake made by a telegraph oper ator, a Norway man returning home was met at the station by a hearse under the supposition here that he was a corpse. Recently William Olson was badly in jured by a blast at the Aragon mine. He was sent to Milwaukee for treatment and was so greatly benefited that he was discharged. The telegram notifying the mine officials of his prospective return requested that a carriage be at the sta tion to meet him. However, the operator, knowing that the man had been seri ously hurt, read the message carelessly and substituted the word hearse instead The funeral vehicle, accordingly, was at the station when Olson arrived and the mistake was made an embarrassing one all around. TUESDAY EVENING, DECEMBEB 17, 1901. HER RELEASE Ransom of $70,000 to Be Of ferred for Miss Stone. Constantinople, Dec. 17.—The first dragomen of the United States legation and the secretary of the missionary so ciety will leave her to-night with full powers to negotiate with the brigands for the release of Miss Ellen M. Stone on the payment of £14,000 ransom. The meeting will occur in Turkish territory. COPPER CUT Calumet & Hecla Responsible for Prevailing Low Prices. Special to The Journal. Boston, Dec. 17. —In local copper circles it is well known that the Calumet & Hec la management is responsible for the recent cut in the price of refined copper. This company, the second largest producer in the United States and the world, has persistently refused to enter an agreement of any nature to curtail the output of cop per and help maintain prices. It is stated that when the price of copper started on its great advance . four years ago the Calumet and Hecla did everything in its power to stem the tide. This statement Is confirmed by the annual reports of the company. lowa stockholders express dissatisfac tion at the refusal of the management to enter an agreement with the Amalgamated to maintain prices. Withlji a few years the output of the mine must be curtailed because of natural conditions and it seems plain that it is for the best interests of stockholders that the remaining copper be sold as high as possible. Under the Michigan law a mining com pany is entitled to mine only the ground that vertically underlies its territory. Years ago it was learned that- the Calu met's lode dipped out of its territory into adjoining land at a distance of 3,500 feet below the surface. This led the owners of adjoining land to organize the Tamarack Mining company, which put down vertical -shafts, opened the lode and has for sev eral years operated on it successfully. The operations of the Calumet and Hecla are rapidly approaching the Tamarack's line and its mineralized area is narrow ing. Calumet ann Hecla has been getting sixty pounds of copper from each ton of rock mined, while the Tamarack gets only thirty-five pounds. Thise best informed do not believe the Calumet will figure for more than three or four years longer as one of the world's largest producers:. "Identired Knoxville Prisoner Declared to Be Harvey Logan, Knoxville, Term., Dec. 17.—Lowell Spence, a Pinkerton detective, arrived this morning from Chicago. He positively identified the man under arrest here as Harvey Logan, one of the alleged Great Northern express robbers. Mr. Spence had in his possession a photo graph of Logan which is an exact likeness of the men^ held. He says this man was seen in Nashville with the woman who was arersted there with Montana bank money. The man still refuses to talk. DANGER FOR IRRIGATION Large Cattle Owners Furnish Obstructions. FEAR SMALL HOLDINGS Principal Difficulty Is in Wyoming and Colorado. CONTROL OF THE RESERVOIRS •;'-—?. : - - -. . •" ■■ Cattle King* Want It to Be Vested in Settlers So They Can Se cure Monopolies. From Th» Journal Hwrvau., Jtioom AS, l'o*t Building, Washington. Washington, Dec. 17.—There is a radical difference of opinion between members of congress from the irrigation states over the provisions of the general irrigation bill which : these members for a week have been trying to perfect. More than a dozen irrigation schemes have been out lined in pending bills, and these differ ences must all be removed and the west brought together in favor of some one measure. Night after night the members from western states have been getting to gether for discussion, and while they are making some progress, it is evident that no bill such as the Hansborough bill, which has been adopted by them as the basis for argument, can:meet with gen eral western approval. - And yet the Hansborough bill, with amendments, will finally be presented as the bill which the irrigation states want.. It will be adopted by a majority of the 1 western members, and the minority . will either oppose it openly or be lukewarm in its support. The chief trouble is in Colorado and Wyoming, which, in truth, are not strong ly in favor of any form of government irrigation, because it will give the small farmers an opportunity to >. acquire hold ings along the rivers and streams, which are now given over to grazing. Both of these states are range states, and since that business is very profitable, there is no reel desire to interfere with it, unless in some way whigh will add directly to the benefit" of local interests. J Admire Montana Condition*. The larger portion of the good farming land in Montana, along the rivers, was years ago gobbled up by the grazers, un der the desert act, and it is possible, in following the usual roads, to drive for one or two days in that state without getting off the property of a single company. It is such a condition which the cattle inter ests of Colorado and Wyoming wish to ■see brought about in those states, and since these interests are very wealthy, they help mold local public sentiment. At the meeting of western members one night late last week the question of whether the general government should conduct and control the irrigation plants, or whether the?r sh..uld be turned over to the several states and to the settlers, was argued for three hours. The propo sition to leave the matter in the hands of the government was filially carried by a large majority. The members who op posed it were the members who repre sent the grazing interests. The Hans borough bill provides that no settler on irrigated government land can acquire more than eighty acres; this will be sold to him for $5 per acre, and he will have' five years in which to pay for it. There is also a provision that while the gov ernment, itself retaining the title, may, in the discretion of the secretary of the interior, turn the management of the main ditches and lateral connections over to the settlers, it shall forever remain in full control and active possession of the reservoirs. Small Holdings. This latter provision produced a most lively debate, and was only carried after the struggle had been carried far into the night Certain members from the range states wanted a provision in the bill that the reservoirs as well as the ditches should be turned over to the set tlers. This contention went straight to the heart of the chief purpose of the gov ernment, namely, to break the irrigated land up into small holdings for the bene fit of actual settlers who may want to engage in agriculture. In no other way will it ever be possible to thickly popu late the semiarid regions. To give the control of the reservoirs to the settlers would open the way for the creation of a monopoly in land holdings, and mean that the irrigation policy of the government would be established mainly for the bene fit of the cattle barons. As I have suggested, the western mem bers will report a bill after the holidays, and all of them, on the surface, may at first support it. Ultimately, however, the members from Colorado, Wyoming, and possibly Utah and Idaho, will come out against irrigation. The cattle barons would rather have the lands as they are than to turn them over to the small farmers. Such a division of western forces, hitherto supposed to be solidly in favor of Irrigation, is likely to effect seriously the standing of the bill. Warren's Change of Front, A shining illustration of what the range states are doing is found in the attitude of Senator Warren of Wyoming. His state is given over to grazing in a large way, and the cattle industry there is of great importance and profit. For ten years he has been one of the strongest advocates of irrigation. When he was in the senate the first time hs talked irrigation until folks thought he knew nothing else; and when he came back to the senate, after a brief retirement, he began to talk it again, with all of his old-time vigor. When it came time to "get down to brass tacks," Senator Warren's interest in irrigation began to wane. It has now almost entire ly disappeared. It seems that he favored a national system of irrigation which would turn over to the states all of the reservoirs, ditches, public lands, etc. When the government proposed to hold on to the reservoirs and lands and dis pose of them in small lots to actual set tlers, Senator Warren's ardor cooled; such a plan would Interfere with the cat tle barons. Senator Warren's attitude is the atti tude of a good many western members who for years have been talking irriga tion loud enough to be heard from one end of the capitol to the other. These members all want irrigation, but not the kind that the government wants. It is possible that the grazing opposi tion will prevent the passage of any irri gation bill at this session, or at any time in the future, unless the government aban dons its present wise policy and adopts the one for which the cattle men con tend. —W. W. Jermane. EXPLOITING^ SIBERIA Representative* of American Firms Are Getting- Busy. St. Petersburg, Dec. 17.—A number of experts representing big American firms have arrived at Vladivostocti', en route for Siberia, where they will build factories and exploit the agricultural and mineral 1 wealth of the country. A COMMITTEE ON PENSIONS Commander Torrance Makes Important Appointments WORTHY MEN CHOSEN Among Them They Represent All Parts of the Country PRESENT SITUATION IS DELICATE The Committee Is Expected to Con alder All Aspects In Making Recommendations. Comander-in-Chief Torrance of tha Grand Army of the Republic this morn ing appointed the committee on pen sions. The notiee^will appear in General Orders No. 3 from national headquarters. The committee on pensions will be con stituted as follows: Colonel Robert B. Death, Philadelphia, Pa. General John C. Black, Chicago, 111. General Janiea R. Carnahan, Indianapolis, Ind. ! Ex-Governor W.H.Upham, Marshfleld, Wis. Judge Charles G. Burton, Nevada, Mo. Henry E. Taintor, Hartford, Conn.'' i i John C. Lanehan, Penacook, N. H. These gentlemen will take up the pen sion question and in view of the present discussion and the dissatisfaction with the pension office at Washington that prevails at the present time among dis abled veterans of the civil war, the com mittee is one of great importance. The commander-in-chief has endeavored to appoint a committee that will look at the question in a proper light as regards the management of the pension office in Washington and also consider the inter ests of the government as well as those of the soldiers of the civil war. Commander Torrance does not occupy a position of hostility to the present man agement of the pension bureau but wishes to see that the old soldier is protected as the law provides and that he gets just what a liberal government desires he should have. Under the authority of the national en campment at Cleveland the whole ques tion of pensions was referred to the com mander-in-chief and this • committee which was appointed to-day. . ;,; Personnel of the Committee. The committee contains the names of i men who are well known aside from their prominence in the Grand Army of the Republic. ;. '"■. Colonel Beath.was commander-in-chief of j the Grand Army of 'the Repulbic in 1382. Ho has faeeii' a life-long and-mos 11' deyp^ed mem ber of the organization. He lost a Teg in the war and was a brave and gallant soldier. He is now president of the United Firemen's Insurance company, Philadelphia.: ■. •. ( _ General John C. Black has a splendid mili tary record and bears numerous honorable scars received in battle. He was commis sioner of pensions from March, 1885, to March, 1899, and, although a democrat,' gave general satisfaction in the administration of the pen sion bureau. He has been commander of the Department of Illinois, G. A. R., and United States district attorney for Illinois, but is now out of office, engaged in the practice of his profession. He Is a very popular man, of fine address and unusual gifts as an orator. He will command the confidence and respect of . every one. General James R. Carnahan has an hon orable record as a soldier; has been com mander of the Department of Indiana; served as judge advocate of the G. A. R. and is now at the head of the Uniformed Rank, Knights of Pythias. He is a man of sound judgment and an able lawyer. W. H. Upham was governor of Wisconsin a few years ago. He is a man of good busi ness ability and enjoys the good will and respect of all who know him. He is also past department commander of Wisconsin. C. G. Burton served in congress from Mis souri; was also judge of the circuit court in Missouri, and is a past commander #of the Department of Missouri. He is now engaged in the practice^of his profession and is very popular among Grand Army men and well qualified for a place on this committee. Henry E. Taintor is one of the best law yers in the etate of Connecticut and a splen did man in every particular. He has been judge advocate general and has also been commander of the Department of Connecticut. John C. Linehan is a past commander of tb° Department of New Hampshire, and for many years past has been commissioner of insur ance for that state. He has been prominent in Grand Army circles for many years and is well known, especially in the New Eng land states, and commands the confidence and respect of all who know him. BLOW WAS FATAL A Sioux City Saloonkeeper Kills an Armour Man With His Fist. Special to The Journal. Sioux City, lowa, Dec. 17.—Frank Cain, owner of the Eagle saloon, last night knocked down Pat Maloney, a butcher of Armour's, because he was trying to buy drinks from the bartender without pay ing. Maloney died in bed last night, blood running from his nose and mouth. Cain has been arrested charged with mur der. PHILIPPINE FINANCE Effort to Keep Gold and American Bill* in the Islands. Manila, Dec. 17.—The Philippine com mission has finally decided not to inter fere again with the importation of expor tation of gold or silver unless absolutely compelled to do so by force of circum stances, but beginning with the year 1902 the commission will alter the two-to-one rate, in acordance with the existing ratio, in the hope of preventing the further ex port of gold and American bills. The reports from the provinces of the earthquake of Sunday last show that they suffered more severely than Manila. At Batangas, a soldier was killed by falling masonry. Seven hundred bolomen have surren dered in the island of Samar, owing to the activity of the troops. Four cases of the plague have occurred here, the first since October. OCEAN VESSELS. New York—Arrived: Vaderland, from Ant werp; Amsterdam, from Rotterdam; Mar quette, from London Liverpool—Arrived: Ovic, from New York. Bremen—Arrived: Bremen, from New York. 16 PAGES-FIVE O'CLOCK. "D'RI AND I" ARE THE WHOLE THING Darius Miller, Ostensible Traffic Manager of The Burlington, Expected "to Whisper" to Other Merger Roads. Senator E. J. Jones of Morris Emphatic in His Declaration That the Deal Must Be Darius Miller's election to the Burling ton directorate, and his choice aa traffic manager of the Burlington system, is the most significant move since the resigna tion of Hill from the Northern Pacific board. It's "D'ri and I," now for J. J. Hill. It will soon be followed by Mr. Miller's resignation from the Great Northern. He will remove to Chicago and assume charge of the traffic operations of the Burlington system. This is taken by northwestern railroad men to mean that Miller will become in actual fact the traffic director of all the merger roads. His connection with the Great Northern, the Northern Pacific and the Union Pacific will be "advisory," but his word will be final. His will be the master mind which will settle all intri cate problems arising from the new or der of things. This is Hill's way of accomplishing some of the aims of the merger in spite of the governors and the courts. Miller will have no visible connection with any com pany but the BuFlington. He will sit behind the scenes and give directions, sotto voce, to the rest. Senator !•:. J. Jones Alarmed. The intense feeling among business men, who are for the most part silent, was ex pressed to-day by E. J. Joues, a leading merchant of Morris. Mr. Jones is a mem ber of the state senate and a leading man in the republican party of his section. He Is at the Windsor hotel to-day, and speak ing on the question of the merger said: "I believe the consolidation should be prevented at ail hazards. I do not pre tend to be a lawyer, and know nothing about the legal points involved, but every business man and shipper in the north west is intorested in preventing a con summation of the deal. We cannot tell what will happen to the shippers if it is not stopped. The power of the combina tion over the business interests of the northwest would be limitless. It could make and unmake business men in every community along the two great lines of road." To Help the State Fight. Whatever counsel Attorney General Douglas is to have, no other attorney has yet appeared In the case. Commencement of the suit has been postponed^ until after the holidays, and meanwhile it is believed that counsel will be retained. Some prominent twin city attorney will proba bly be called In from among the large number who have been informally con sulted. There is a strong sentiment, which the governor is believed to share, in favor of retaining some prominent eastern attor ney, of reputation equal to the legal ad visers of the Northern Securities com pany. Such a men as Frank' T. Griggs, the former attorney general, -would bring to the case a knowledge of the question in its broad relation to the constitution and the federal laws, whioh might give the state its winning card. "Oh, Please, Mr. Governor.". The governor's mail continues to be flooded with letters of advice and com mendations, but from eastern financial cen ters have come several letters urging the governor to call off the dogs of war, in the interests of business. They plead that his attitude has depressed the markets by hurting stocks, and will inevitably cause a falling off in stock trading unless he re considers. These communications do not come from parties directly interested, but from brokers and speculators indirectly affected. The governor flies them away with a grim smile after a courteous acknowledg ment of their receipt. MKLXE-N REMAINS IN Denial That Underwood Will Be Northern Pacific President. Special to The Journal. New York, Dec. 17. —There Is no pres ent , foundation for the report that Presi dent Mellen of the Northern Pacific is to resign and be succeeded by President Underwood of the Brie. Mellen is not in the city, having left Saturday for St. Paul, after being in New York since the October meeting of the directors; but it can be stated on the best . authority that Mellen's resignation from the Northern Pacific at this time is most improbable, and Underwood has no idea of leaving the Erie. ~ ' / , r . \' The report that he is meeting with op position from some Erie directors in work ing out his plans is unfair to him and the company. On the main points of his policy Underwood is following the lines marked out by Chairman Thomas, al though he is gradually developing his own policy. If Mellen should at any later time re sign from the Northern Pacific, Hill would undoubtedly urge Underwood to take the presidency, as, last fall, he urged him to take up railway duties in the northwest again. Any talk of the resignation of Mellen or Underwood at present, however, is idle gossip, for no such action is contemplated by either officer, is not expected or de Headed Off. sired by the directors. Nor could it be carried out without upsetting important plans. While Hill and Mellen, as pres idents of competing rival railways, have been antagonistic in the past it is well understood that it is very important to Hill to retain Mellen as president of the Northern Pacific, not only because of hl3 knowledge of the system, but because of the effect on popular sentiment in the west, which would take such a resignation as confirming the suspicion that no com petition will be allowed between the Great Northern and Northern Pacific. VANDERBILT PROPERTIES No Securities Company for Them Y«t Awhile. Special to The Journal. New York. Dec. 17.—The recent rise la New York Central stock was due to talk that the plan for a Vanderbilt Securities company would be brought out without awaiting a decision in the Northern Se curities case. These reports were proba bly incorrect. The Vanderbilt interest* iave always been thoughtful of public opinion and careful not to pursue a course calculated to arouse antagonism. It would be a reversal of this policy to bring out a securities company intended to produce another large railway trust at a time when the west is stirred up on the question and when the difficulties in the way of such an enterprise are so great. If there is to be a Vanderbilt Securities corporation it is not likely to be launched until the courts have had their say re garding the Northern Securities. If that corporation stands, others will be sure to come. If it does not stand. It will be necessary for the Vanderbilt properties to be left as they are or be combined on a plan other than that adopted in the northwest. X. P. PREFERRED Argument Heard on Proposed lv- j unction to Prevent Retirement. Special to The Journal. New York, Dec. 17.—Justice Scott, in the supreme court to-day heard arguments*of counsel in return of the order issued by Justice Beach Dec. 10, directing the Northern Pacific to show legal cause to day why the temporary injunction issued Dec. 10, restraining until further order of ■the court the company "from retiring the preferred stock of the said Northern Pa cific Railway company on the first day of January, 1902, under or pursuant to the resolutions of its directors, adopted Nov. 13, 1901," should not be continued. The suit for injunction was brought by George B. Hackett and Charles A. Chase, of Penn sylvania, and by Wolf Bros. & Co., of this city. Wolf Bros. & Co. asserted the firm held 40,000 shares of preferred stock of the Northern Pacific. Hackett said he held 600 shares of the company's preferred stock. Chase said he held 1,000 shares. The plaintiff also asked the court to issue an order "requiring that preferred stock holders shall have equal rights and priv ileges with common stockholders in buy ing bonds to be issued by the company under resolutions of its directors, adopted Nov. 13." Cochran, Moore & Heldreth appeared as counsel for the plaintiffs. W. H. Cochran. counsel for the plaintiff, said that at a meeting of the directors of the defendant company, Nov. 13, l&ol, they voted to retire all preferred stock Jan. 1, 1902, at the par value of $100 a, share, and to give notice of such retire ment to the holders of preferred stock. He said that at the same time the di rectors aleo voted the issuance at the rat* of 4 per cent of debenture bonds of tha Northern Pacific to the amount of $75,000, --000 to provide funds necessary for the re tirement of the defendant company's pre ferred stock. Cochran also said the di rectors by resolution provided that i^ bonds should be convertible into shares or common stock of the company. The law yer asserted that the action of ihe di rectors by "drag-net resolution" was In violation of the rights of each and'every one of the preferred stockholders and that the resolutions were "lyill, void and of no legal force or effect," as the directors were without power or authority to adopt or carry the resolutions into effect. "These resolutions," exclaimed Cochran, "are drag-net resolutions, passed for the purpose of fooling the public. The direc tors had no legal right to pass such reso lutions, changing the entire nature of the corporation. The stockholders were not heard, were not permitted to vote. The directors assumed to exercise power which they did not have. Directors can not change the entire nature of a cor poration. Whether this is an increase or decrease of stock it is not lawful. The directors cannot make such conversion as they attempt to make without the vote or approval of stockholders." Daniel Lamont, vice president of th» company, was in the courtroom and list ened attentively to the arguments. Fran cis Linde Stetson, counsel for the com pany, occupied a chair next to Lamont. Cochran asserted there was nothing in law or equity which authorized the direc tors to give greater privileges to com mon stockholders than to preferred stock holders. "The object of the scheme on the part of the directors," exclaimed Cochran, "la to put the company into the hands of the common stockholders so they can get ab solute control of the road and divide large profits. It is a stock-jobbing scheme." Stetson opposed the application. He said the plaintiffs were in no position to ask for an injunction, as they had be come stockholders since the passage of the resolutions. They had a right to try their suit, .but not to an injunction. This suit lis Ifce sequel to the flgih| waged last summer between Morgan and Kuhn, Loeb & Co. and which resulted in the union of those financiers in the North ern Securities combine. Preferred stock was heavily bought at the time of the Northern Pacific corner by the Harriman crowd, who were trying to force Hill to admit them into the Burlington board. The Morgan-Hill men sought to retire preferred stock under vote of stockholders but the Harriman men refused to surren der the stock. Then the Northern Se curities was organised.