CHICAGO. PORTAGE AND LAKE SUPERIOR
The strife for the control
of the Chicago, Portage and Lake Superior Railroad, which was sold out to opposing interests by its counsel who disposed
of stock held in trust, promises to be bitter
and long. A large quantity of the stock is
held In New-York, and the office of
the President of the company, Mr. William
H. Schofield, is in this City. Mr.
Schofield has just returned from Chicago, whither he went to look after the interests
of his company. In speaking of the affairs
of the concern yesterday afternoon, He characterized the action of the counsel Jackson
as a piece of infamy. Jackson, he said, used his knowledge and the confidence of
the officers and stockholders of the road for a base purpose. He deliberately attempted
to place the control of the unfinished line in the hands of H. H. Porter, the ruling
spirit of the North Wisconsin Road, who was aided
in his efforts to obtain possession of the road by General Manger Cable of the Rock Island Road. Mr.
Schofield said his company did not propose to relinquish any of its rights or the
management of the road. He intended to consult with parties holding stock in New
York, London, and elsewhere in reference to the best course to pursue. He had no
doubt the courts would be required to settle the differences. It would likely resolve
itself into a question of validity of the stock held by two factions. Jackson agreed
to give absolute control of the road. But Mr. Schofield felt sure that he would
be unable to keep his bargain. As things
stood at present the members of the company could outvote the opposition.
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