Salt Lake Tribune | 1906-07-26 | Page 2 | Graft Openly Charged

GRAFT OPENLY CHARGED President of Westinghouso Company Is Placed on tho Rack. PITTSBURG. July 25. At a sensational sensa-tional meeting of the stockholders of the Westinghouso Electric & Manufacturing Manu-facturing company today Goorge Woat-inghouse. Woat-inghouse. president of tho company, was charged openly by stockholders with launching private ventures with tho company's funds. The directors were chargod with aiding him In thlB, but after a bitter squabble the slated board of directors were elected and tho official coterie won out. James Carrothers, one of U16 minority stockholders, led the opponents of Mr. Westlnghouse. .The Incident grew out of the report of the company. Mr. Carrothers Car-rothers called attention to the assets, lu which were stocks and bonds of the Lackawanna & Wyoming Valley Rapid Transit company ?6 300,000. Mr. Carrothers Car-rothers wanted to know how much was stock and how much was bonds. There was a hot discussion, and It developed de-veloped that the capital stock of the Lackawanna & Wyoming Valley Rapid Transit, company Is $3,000,000, and that tho road cost about $fi,000,000. No one was sure that these figures were correct, and thero was more or less confirmation.