Railway finance, meetings, etc.

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Central Ontario Ry.—The end of the litigation in connection with this Co. is not in sight, and the recent efforts to bring about a settlement, when the line was ordered to be sold upon the application of the Toronto General Trusts Corporation, appear to have been of no avail. The board of directors, acting up to the time of the ordering of the sale, through T. G. Blackstock, is making application to the Dominion Parliament to re-arrange the bonded indebtedness of the Co. and for other purposes. On the other hand, S. J. Ritchie, of Akron. Ohio, and his associates, who acquired the control about the time the sale was ordered, elected a new board on Oct. 2 last, but there was an allegation that the meeting was not legally called. Subsequent to the publication of a notice of application to Parliament by T. G. Blackstock, another appeared in the official gazettes of Canada and Ontario, signed by S. J. Ritchie, T. M. Kirkwood and R. Fraser, calling a meeting of shareholders to be held at Trenton on Feb. 2. This notice states that the subscribers, who represent one-fourth in value of the subscribed stock, had requested the directors (i.e., the board acting at the time the sale was ordered), to call a special meeting; that the directors failed to do so, and the subscribers now did so under the statutory right conferred on them. At this meeting directors were elected, S. J. Ritchie being named Vice-President, and the position of the Company was considered. As a result of the meeting application was made Feb. 10, to Chief Justice Meredith for an injunction to restrain the new board from taking any steps in the matter, but it was refused. (Jan., pg. 27.)

Railways: C.O.Ry.

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