Lincoln Journal Star from Lincoln, Nebraska • Page 1

LINCOLN DAILY NEWS THIKTY-TH1KD YEAK. LINCOLN. NKBKASKA. FKIPAY. 30, 1014.

PRICE TWO CENTS CANNOT DENY VOTE TO ANY PREFERRED STOCK Douglas Decision Affecting Some Lincoln Corporations May Not Hold Before Supreme Court, Say Some. WHAT YOU MOW, COLONEL? IA HOLE TO PUT IN. A feint at law nov. in progress of ippeal from the Douglas county district court to the supieme court Is of much interest to Nebraska corporations which oustandicg both common and preferred stock, the latter without -voting power in stockholders' meetings, The decision in Douglas district court was that prefer- icd stock has the voting power under the constitution no matter whether on Us fact the stock denied that power to the purchased. The decision was based on a constitutional provision.

It is the lirst time in the history of the state than an interpretation of this section has been sought, The constitutional provision reads: 4 'The leg'slature shall provide by law that in all elections for directors managers ponies of incorporated corn- stockholder snail have the right to vote in person or proxy tor the number of shares ot stock owned by him, lor as many persons aa there are directors or managers to be elected, or to cumulate such shares and one candidate as many votes aa the number of multiplied by the number of his shares of stock shall or to d'strlbute them upon the same principle among- as many candidates as he shall think fit; and such directors or managers shall not be elected in any-other manner." A W. Jefferis of Omaha and E. C. Strode of Lincoln" both have declared that preferred stock cannot be kept John Webster is an offhand opinion considered the court uecision as unsound. F.

H. Woods, jjres dent of the Lincoln Telephone ompany, and a lawyer of wide experl- -nce, -also believes that It will not stand the fire before the supreme court. Webster believes that wher the workings from bonds only in that no date of maturity is fixed for it. Bondholders do not vote in a corporation They receive a fixed rate of interest as do the preferred stockholders and a definite date is set for liquidating the evidences of indebtedness. The Lincoln Traction company wouk not be affected by tho sustaining the supreme jourt of the Douglas county decision.

That company has outstanding 16.519 shares of common stock and 11,131 shares of preferred slock. It all votes equally. The Lincoln Gas company has outstanding bonds and gold notes amounting to about a million and a quarter dollars, all of which of course does not vote. It has also outstanding about $2,250,000 of stock. It is all common and all has the right to vote at stockholders' meetings.

The controlling interest lies in the Doherty company of New York city. The Lincoln Telephone company might be affected, although President Woods does not think so. That company has a small amount of preferred stock which is in the old Lincoln company only. It has voting power but only in the smaller company and not In the Lincoln Telegraph Telephone company It has about $1,500.000 of common stock which has full voting power. It has outstanding also almost $4,000,000 of special preferred stock which does not have voting power unless the contract under which it was purchased is not met.

This special preferred stock is for the most part owned by the Bell Telephone company. If the local corporation does not pay the per cent dividend required. and for two years passes these dividends, then this nonvoting stock becomes voting Inasmuch as it is by far the majority of stock, it would if holding- the voting power give the control of the Lincoln company to the Bell. President Woods points out that ex'en if the supreme court were to sustain jir weosier oeneves uiai wner me tne Doug i as county distnct court; the purchaser knows he. is purchasing lnd th V3 block that is without, voting power, and nays his money under that idea, he has not been deprived of any right wh ch thought he was getting and therefore could not complain of the provision.

Alany Nebraska corporations, some of the public service in nature and home purely prrvate stock companies, lollow the practice of keeping the voting power in the common stock whereby they are able without owning more than half of the total investment, to control the policies of the business. The preferred stock has a guaranteed rate of interest, and differs in essential Bell company under the ruling of the attorney general of the United States, could not utilize the power which rests in that stock. It is prevented by its agreement with the government from absorbing the South Platte telephone corporation known as the Lincoln Telephone Telegraph company. The same attitude of the national government, and the same agreement made with the Bell by the government, has led to the declaration by the Bell that it cannot fulfill Its agreement with common stockholders to take over any of then- stock after February 1 that those stockholders might want to get rid of. STILL DIGGING.

--Minneapolis Journal. RAMMED STEAMER SINKS LIKE PLUMMET IN OCEAN Dominion Liner Monroe at Bottom Twenty Minutes After Being Hit and Carries Forty-Four Persons to Swift Death. Cedar Commissioner Lost Out in Attempt to Cling to Office still owes Mr. McKeJvie a balance on the debt. These are the plain simple, facts about.

Jie purchase of the. tickets'." Judgment Affirmed for Former Wheeler County Attorney In the case of John H. Meyer against T. D. Meese the supreme court affirms KNOCKS OUT BREWERY HOLDING COMPANY IDEA Supreme Court Says Saloon License Forfeited When Building Is Owned by Realty Con- cernJwt Controlled by Beer THE WEATHER 1 a.

27 2 a. 28 3 a. 27 4 a. 2S 5 28 a 28 I a. 28 Forecast Till 7 8 a.

27 9 a. 28 10 a. in 32 11 a. .18 32 noon 42 1 2 p. rn 17 m.

Saturday. For Lincoln and vicinity: Fair tonight and SaturUaj, warmer southerly wind. tonight; brisk Charles F. Furley who was ousted! as commissioner or Cedar county in 1912, and wno later alleged tne eec- tion was not provided for by law and claimed the ngnt to hold for a four years, lost his suit in the supreme court, tin-ley waa first elected commissioner in the a the general election in he was heeler county in finding for the de- a canamace for Edward i fendant who was made defendant in a H. Carroll was elected.

Judgment of'suit for malicious prosecution Meese ouster was renaered against i urley. I was county attorney at the time he in- who claimed the right to hold over, jstituted criminal proceedings against Furley appealed to uhe supreme court'Meyer." H. H. Innes had obtained a wnich now arfjrms the judgment or I judgment against Meyer for wages 'due. Execution was issued and property was taken thereon, which property ouster.

It holds that the term of a commissioner of, Ceaar county is three years ana not four years, that the attempt of the legislature of lyuo ex- four ears was lending the term to and the le was later replevined by Meyer Meyer in his affidavit in the replevin case stated that the property was wrong- re-enacled a law limiting the term to three years. legislature of 1307 i fully held by the sheriff and that the Under the Gibson law of 1907, which makes it unlawful to conduct a saloon in a building owned or controlled, by a manufacturer of beer, the supreme court has concelled a license issued to A. L. Hanff of Stanton. G.

A. Enos and others remonstrated and appealed to the district court from the action of the licensing board. It was conceded that the title to the Fair tonight and Saturday; warmer tonight; moderate to brisk southerly winds. T.pfia.1 Generally fair tonight and Safe warmer touight, and- In olafc-jadi portions Saturday. North Dakota: Fair tonight and Saturday, probably snow; warmer in south- j.

mus east and colder in northwest portions to- the act went into effect July 5. This night, colder Saturday, company took over buildings in many south Dakota: Mostly cloudy tonight towns In the state which were owned and Saturday, warmer in east and cen- by the Stortz Brewing company and tr "ons tonight- colder Saturday. tonight and Saturday; and Saturday warmer tonight. Illinois: Cloudy wh.ch had been used for saloon purposes. It was the intention of tho i)ll)lm realty company to continue to rent bly rain or snow in south portion, rising such buildings foi saloon purposes.

I temperature Saturday and in north and The courts says the business inter- portions est which prompted the brewing company to purchase a saloon sites different localities were Generallv fair except rain or southeast portion tonight or number of Saturday, rising temperatuie. building is in the Independent ReaHy Delor and a the 88 0 I of the Gibson act and before and after company, which is not a manufacturer the transfer. It was understood of beer but it was insisted that the building is nevertheless owned or controlled by the Storz Brewing company of Omaha, a manufacturer of beer. It was admitted that the brewing company transferred its title, not for the purpose of evading the Gibson law, tion or by order of judgment against The city of McCook may yet be Meyer. Innes later went to the defend- held liable for damages alleged to have ant Meese.

who had been his attorney Ijeen inflicted upon JOTS. Aiattie Sheets. 3na was also county attorney, and property had not been taken in execu- ut for the ur of compljuig with In the lower court she sued for dam- urged him to prosecute Meyer for -lees received bv a. fall on a. sidewalk.

false statement. Meese filed an inf ages received bv a fall on a sidewalk. The lower court dismissed her acuon i matl against Meyer, hut in doing so jnd the supreme court has reversed and ra1de a mistake in the date of the I it. the new company should respect the leases i of the old Gottlieb Storz is the controlling factor the brewing coi.i- pany and his wife Minnie G. Storz, is president of the realtj company.

Maggie Buck, vice president of the realtv company, is the brew master of Storz brewing company and a cousin Judgment Against Pawnee tor Death of Man Affirmed NOUKOUK. Jan. The complete story of one of the worst disasters in tho recent history of the Virginia cupes wa.s brought here this afternoon. the wreck of the Old Dominion steamship cut almost in two ami sent to the bottom of tho ocean hr tho steamer Nantucket early today told a tale of hardship that thrilled all who heard It. Forty-nine, lives and a and modern Bhlp was the toll cx.icted by a fog which made navigation impossibility.

Awakened from their sloep by the crashing of splintering steel plates as the two came together the passengers and crew of tho Monroe rushed on deck to find their vessel already wallowing in tho trough of the sea and careening. It was plain that she had received her death wound. Wild screams of the women who had been able to reach the deck mingled with the curses of the men. All were in their night clothes. At the moment of the impact the collision drill signal was sounded on snip's bells and the crew rushed to their stations at the life boats.

But there was little that could be done. Only one life boat had been put over the side when the hull of the Monroe seemed to rise in the air. turn almost completely over and then dis- peared. below the waters. That every one on board was not lost was due to the action of Captain Berry of the Nantucket.

He had backed his ship In a vain attempt to avoid the Monroe, but there had not been enough time and the Nantucket had dealt the larger vessel a cruel blow almost amidships, opening her far below the water line. But the sudden reversal of the engines had stopped the Nantucket and she backed clear of the Monroe. Immediately the crew of the Nantucket rushed to collision quarters and her lifeboats were swung over the side. Almost before the water was the davit hooks had been cast off and' the sailors werc pulling- for the spot where the Monroe was already disappearing. The fog was so dense that only the mast lights and those on tho bridge could be made out.

the big hull of the Monroe looming simply as i bulky shape ahead. Only for the Briefest possible time was it seen and then there came a hissing sound when one of the sinking vessel's boilers ex- iloded and then a big ave that tossed the Nantucket's life boats about like cockleshells, told the story of tho of another liner. The Nantucket'a boats cruised back inflxfbrth-alxiut the soeae-of the dis- ister picking up every one. possible- rescued was and women up overcoa's madly to was apparently rammed amidships. Hb estimated tliat it was not moro than te mnlnutes after she recived her death blow that the sea swallowed the vessel.

Odell though she was almost broken In two. "Bv the time reached the deck from my stateroom," ho said, water was even with tho upper deck. 1 wa- in tho water for half an hour before being- picked up." John Flanaffan of S2 Holt street, Brooklyn, said he floated forty minutes, as near as he could judg-e life boats picked him up. "The crew of the Monroe did pretty w-ell." he said, "but at a time of this kind, It was ei'erybody for themselves." W. A.fl Snyder of East Orange, N.

said he was immersed for thirty minutes, being clad only in his pajamas. "I remember grabbing some woman as I was floating-," Snyder said. "She and clung together until the life boat picked us up. I don't even know who Bho H. Robnrtson, who was BO dazed and excited by turns with the terrible events of tho night that he could not recall his residence, said he was ''nookod clear out of his berth by the Impact of the two ahips Into Water.

"The Monroe wemt down Btcrn flrat, it appeared to me, men and women he declared. "I saw Jumping into water as I came on deck. I was la the sea for half an hour before aid came." W. C. Claussen, of Milwaukee, erroneously reported as missing In the official statements Issued by tbe Old Dominion line, wan a survivor on tha Nantucket.

"I was in the water for nearly an hour as well as I can Judge," he said. "All I had on was paJwnas. I saw Mr. Thomas Harrington aiding his wife in the Water." man given on the passenger list as Lieutenant L. B.

Curtis of the United States army, died aboard the Nantucket from exposure in the sea. There was some question as to his identity. is all his linen was marked L. Curtis." Tie is believed to be a lieutenant in the United States army and to bavo recently returned from duty on the Mexican border. Twelve of the Monroe's passengers wore taken to the city hospital late this afternoon.

They are suffering from serious sprains and bruises aggravated by exposure but all aro expected to It is stated by Old Dominion officials that a brief report from the Mon- rot's oaplain blamed the fog for the collision. He states that the Monroe was struck on the starboard sidei. 'between ports orio and two and that she was almost cut in two. Tht Firrt ToM. Jan.

berths not less than Merchants Miners steamer Nantucket early today. The number ot dead may reach fifty-four. It will impossible to determine this until the Nantucket reaches here with another to pull them on securely. as they itruck the water all who could swim lircw those wraps aside in order not be hampered. Fortunately most of the passengers who made the deck brought their life story of an ocean preservers with them.

A few who did an cean tra ed may elapsed between the crash and the floundering of the vessel. over the Steaming ahead through a derse fog that made navigation more a guess than a test of skill, the Monroe was the The water the farther north. Hto boats rammed her quarter but not etxelj that he plates werc torn of Minnie G. Storz. ber, secretary and William F.

Web- treasurer of the The judciuent of $2,000 in favor of Mrs. Fiwnce E. Bethel, administra- inx ol the t-state of her husoand, ROD- The wreck took ln uch lace almost due southeast of Hogg Island on the lower Virginia penm-1 sula and the gulf stream runs in close to shore here. But the men and women held afloat by their life belts rapidlv I far against Pawnee l-een affirmed the su- The supreme court holds that such a transfer of the property aoes not make the premise? question a lawful place for a licensed saloon, where the with his employer until June 1, 1907. injuries received by falling through grantor retains control of the build- of the two nmip'in'es were rej-Itv company for four years did gen- ert H- tlu-1.

eral office work for the brewing com- Iris panj- and did not his relations court The husband died from i is situ-ited on the Kan- between th. directors of the s- is ate line at the southern end of th. case, of stock waTbuilt by beard them were this afternoon trying cian of McCofak directed a policeman 1.0 place rojies across a sidewalk in' of a house that had been quar- on account of scarlet not the companies in the contro- ver-cy. the transfer tho dared a dividend of per cent. in Pawnee county gave way Aceordme to the of Mag- and for this that county and nt.

but dropped the matter I ne court say? It -would be unusual Voder had lt the city'? then Meese damaged i th se Participating in the forma- g.e Buck." she" told by" fo'r fhat to for alic Prosecution. The supreme n1 a new to testify store at the time of the organization The couit rJfuM ians SiTgllong street. there evi- lankly direct terms to an of the Independent Realty company in favor of Later Mrs Sheew fell 5" ce to show mallce or ant of prob- to violate the law. The transactions that under the n-w Uw the Storz the soil instituted bv ropes injured. An infant child i aoic caus51 ou the part of the defendant.tnemselies must be scrutinized in the l-rewms; companv not bold the to hor -i fAw I'1 causm tb prosecution complained' 1 of all the circumstances, giving property for salo'on purposes and that a UtWWd 'hr P- in' Freeman I As fast as posMMe th escued had her side water poured that the great coas-t- areened and plunged a- little more fhaq after the crash.

pitifully small facia available can determine the record ot the disaster shows: Passengers, saved--28. Passengers, lost--24. Crew, saved--54. Crew, lost, between 20 and 30. The heavy passenger loss has appalled local They are anxiously waiting for word of how the discipline of the wrecked liner stood from their memory.

the test of the crash In the stillness For two hours the boats from the' Nantucket cruised bock and forth seek- I Injr bodies. Then reluctantly coining' a to conclusion that all who eould had been saved. Captain Bcrrv i picked up his boats. for damages for the dv.ith of his! Two Die on Board. f.ither, Samuel AV.

Lyons, who was More than one-half of those who paved were taken from the water by the crew of tho Nantucket obln ious of what was going on around them. For the first few minutes the screams of the drowning rose wlerdly from Jud amer TMel a companies, Store getting a I I county. The county of Pawnee surface of the waters and all who, larsro majority realty company. A few before Kixneas county and that Pawnee I shu out the remembrance of in company dc- county not liable. The end of tho many the wireless has not said.

among- the. passengers seems certain. All had 1-een in bed four hours. Them was no time to dress after the crash. Those who were saved undoubtedly rict court court affirms its former defendant, decisions that city or health officers jrc not liable for damages sustained reason of acts committed in the xercio- of police power for the benefit of the puWic health, but if in tlu sercise of such powers the officers a fpc over a walk and the rope dangerous and the cil has j'Otiro nf the defect, the oitj- may, if facts in the caso warrant, held' i able for rushed for the deck when the vessel Bonding Company Not Released Because of Change in Contract for the' intention.

The court says the to realty determined is the build ng in which tho perty. jsaloon is to be conducted controlled i The building is by a manufacturer i The Independent was formed the Gibson act was sons who became the im-crporators of L.ons wi nt to the to fish I transferred to the 4 vnn 1 A.J.V ft I comp.mj take the pro- pped Ins h'-rsc- and 1 i'nlu-. horse broke x-mtiirbo. i But whether the crew did everything possible will have to be near a was floating safel although her i ot tte loose and bows were stove in. All Ui- a.Hh^;,!TM McKelvie Got Band Concert Tickets as Payment on Debt the Hroumstancec under which a ron- i ilra't for the of a new -it the- Norfolk asylum the cotnp.m which a bond for the contractor it not from Iia3- Jrtv for ma1eri.il n-n-i LETTER OFFICE GETS 10,000 FROM LINCOLN company was ganized that it has a single i nt tbe i i i of S.

In the county In of 1o 1h' -ITI! i oneerl lij K. i i hy th Ad club at th- UK ahout tej -tlTS s'n: to th- fo-iiHi. A portion of a railing wf the. llc soon Jt on nn awaifd of l.ri.U- w.u! and Jafr the body hc 1 iril i "Iwraf.r of the Monroe th lines. the first time since the Hons w.is in the TM n)S 1 out through the fog sbarp th tx.mmion or tosethir.

The IOTIT i fo'ind for rounty. Ttiii ls snl 1 reMK.n.U-1 SVIIl is a i 0 the si.pr. me cal al 1 lt-r yJ i a witless askint: that cloth there insufxchat aJ the foK Hut two tnf for flm won I.y.,ns hours aft-r the liM.p- lv rd aK l.v injurios f-rver th- of w.ifl nllr-rsi 1 th- w.itcr Captain IV rry of the court I-roof to i or oln th- 1-1! K. 1 in I.ui-. for 1r.Hl 1 i Hid to i a i ih- i lii.

1)jc vi hn- i they nwii of has th for i- h- the licular he in ion -ma- Tw 'urt' rn dis of -was of X7 i Mr 11 I'r cr of until ROW. orjr ft lit In 'jii'wt th- ma- I for simj ifl urv of 'I th" OJt- or -nh'it nrit. 1'nOf; n.ij'4:e of T'zAwz th il. JUSt Tiot know to Oeth 1'i whom ill of tbo I in- ITTI i nn't iii)3 out lra.fi lett'r o'lii lor that th- J. I-.

or lh i TU IK fr'-m -jni3 ,1 -xl a vMmiiin I i I a 1 1 r-li'1' ,1 I 1 wons Iron in if i r- hh- of tb- 1-ut 'hf xa-t n.inn-r wh oh his Jeal rea-hN! Ho from -J 1 1 1 f. 1 RK F'lrrTn" ajl 1'ttTp nt simJ ATI i ttot iut -Ti'i '1 1 'T him 'nr n't tt' mf orn-n' for i. i 1'i' 1 -i')' i i 1 1" 1 A Hi' 11,. 1, for bom OijtnJn: if it IK not h-r- l)' not i' th- a iTi'i i t'j jin into tv r. 11 v- ''t t)j- om i-'-n-J' 3 Jf no ml i 1 Still Grind.ng Away on Sotton Bank aruj stood to Jh'- Hamilton i HTHi Wh'l" li" Itif Nant lh thai none y3 It a jwj wjirch ii was jn i i Onoua- that jcal atu-ntion This confirms i that aJl in ihvlr nicht It is nf Two of 1h- nt-l are i 1b- of their xiv-rif report, how- i "WTII Xirj.

Harrintnon of Kiidgo- 1 ofl Httl' li.iV Th' i i i failure with to MS w-rt wrior ajf -n-v forenoon -1 i tdjpi" out fro-n 1 city a i ntr that hi4 start nion it Mfillfw 1 of ir of i i inlrt lh- 1 1 1 i I 'wn' i ri i 1 j' 1'if 'i ,0 --at is TP Va- A in pr he of i i i i of fho il i 1 from 1h- 1 fin Tli' l.f.. in walUrii 3 nt 'io 11 fnr T. a' If all" 1o i i ji. iiTTd will Th- and List of Musing th- anI 1h' iTt'T to 0 ir T' of nlw i 1h I Tl 1-3 '1 t' V'K V. i 1 i i -j- I l' 1tir JUT-.

Who 1)i" T'lerc to i for tjr TJI harr 1 a th- of to Tfi t.i iKihl, Oi f' I'-Pf'Tlf: '1 1, i ci i- 0 I 11 I 1 of I in1 that Mm 1. 1' Ore il flf J) 7 i 7TI 'in Norfr.l's. Va. Milw -I' X. "i NEWSPAPER!.