Page 2
University Daily Kansan Thursday. Feb. 6, 1958
Proxy Fight Time Nears
NEW YORK—(UP)—This is fingernail biting time in the plush executive suites of many corporations.
The nervousness stems from the fact that this is the time of year that the proxy fighters seeking to oust a firm's management begin unlimbering their big guns.
Most companies hold their annual stockholders meetings in the spring. It is at these affairs that irate stockholders usually lower the boom on managements that haven't "done right" by stock- holders.
As annual meeting time approaches, high-salaried presidents and board chairmen of companies that haven't fared too well begin casting a wary eye at their stockholder ranks for signs of revolt.
Companies engaged in proxy fights in recent years read like a who's who in industry—New York Central Railroad, New Haven Railroad, Montgomery Ward & Co., Fairbanks, Morse & Co., R. Hoe & Co. and Decca Records.
Wars for control of companies are called proxy fights because both sides seek to have stockholders sign a legal document-called a proxy-giving them the right to vote the stockholder's stock.
In 1954, William White, now president of the Delaware & Hudson Railroad, lost a $125,000-a-year job when his management was ousted from control of New York Central by the forces of the late Robert R. Young.
This year, George Alpert, who makes more
than $50,000 a year as president of the New Haven Railroad, finds his job in jeopardy. A banking and investment group headed by A. C. Allyn & Co. of Chicago wants to oust him.
The Central proxy fight is considered the biggest and most expensive ever fought. One of the biggest of the early corporate wars took place on March 7, 1929, when the late John D. Rockefeller Jr. ousted Col. Robert W. Stewart from the chairmanship of Standard Oil Co. (Indiana).
Proxy fights are strikingly similar to political elections in that the outcome is decided at the polls.
Allan Will Harris, noted management consultant and a proxy fight authority, noted that these skirmishes often are thought of as tugs-ofwar between two powerful forces.
The number of Americans owning stock in companies has jumped dramatically in the postwar period and now exceeds nine million. That means one out of every 18 Americans owns stock.
"But, in the last analysis, stockholders owning 100 shares or less are the deciding factors. Their support is necessary for victory, which is why a great deal of time and money is spent wooing them."
Harris pointed out that proxy fights usually start when a person or group of persons becomes dissatisfied with management and tries to replace it. The outcome of these encounters often depends on the attitude of the average stockholder toward a company's recent earnings and dividend record.
A fascinating fact from the lesser known vineyards of science is that even an earthworm can learn things—and doesn't forget after he's lost his head. He grows a new head and continues to profit from his learning.
Little Known Science
United Press Science Editor
Science also knows why hens lay so many eggs which is an astonishing thing when you keep in mind that two to a dozen in spring time is all most birds bother to lay. The hen lays as many as 200 a season
because people systematically rob her nest. By the technique of nest-robbing, a scientist caused a woodpecker to lay 71 eagles in 73 days.
On the other hand, aphids lay eggs only in the fall. These eggs "winter" and in the warmth of the spring sun hatch the aphids. One "winter" egg could give rise in one summer to so many aphids their total weight would equal the weight of the world —provided there was an unlimited food supply for aphids and their natural enemies left them alone.
Dailu University Hansan
University of Kansas student newspaper
Founded 1889, became biweekly 1904,
triweekly 1908, daily Jan. 16, 1912.
Telephone: W. Miles 7-300
Extension 251, news room
Extension 256, business room
rates; $2 a semester or $4.50 a year. Published in Lawrence, Kan., every after-
sunday. Published on Saturdays and Sundays. University holidays,
and examination periods. Entered as second-class matter Sept. 17, 1910, at
March 3, 1879. post office under act of March 3, 1879.
NEWS DEPARTMENT
Member Inland Dotty Press Association.
Associated Collegiate Press. Represented
the press in the New York Times.
Madison Ave., New York, N. Y. News
service; United Press. Mail subscription
Dick Brown Managing Editor EDITOR, DEPARTMENT
EDITORIAL DEPARTMENT
Del Haley Editorial Editor
BUSINESS DEPARTMENT
Ted Winkler
Business Manager
L. G. BALFOUR CO.
Fraternity Jewelers
Now is the Time to Order
INITIATION PRESENTS
411 West 14th AI Lauter Phone VI 3-1571
Don't Be So Good To Us!
As we stumble through the Kansas Union Bookstore during the three-day enrollment period, we are thankful for the women who are hired to help total book and supply prices, o.k. checks and perform various functions necessary to aid the student in purchasing his books for the coming semester. We realize that, during this time, their presence is greatly needed and we are pleased that we do not have to wait with an arm load for an hour or so to pay for our books.
We must also admit that these additional employees, who have come to aid us in our book rush plight, are quite courteous and good natured. They worked like Trojans for three days.
other to o.k. the check, and yet another woman to ring the purchase on the cash register!
It is understandable that there should be, during this three-day busy period, a woman to call out the prices of the books, a woman to add them up on the adding machine, one woman to hand the student the pen to write the check and an-
However, as the book rush gradually yields to a normal flow of traffic, we wonder why so many employees are needed in our Kansas Union Bookstore.
Now the student as he walks into the Bookstore feels that a thousand eyes are watching him. As he turns to leave with his one-item purchase, he is greeted with a chorus of "may I help you?"
While this over-efficiency will never harm us it certainly can't be the most economical method of handling things. And since this store is a cooperative we are interested that the next dividend should be a good one. Besides things are just plain too crowded.
Just Pinned?
Get Special Imprint
"Just Pinned" Cigars
R G Dunn "Young Fellows" White Cwl "Panatellas"
at
Evelyn Hall
George's
727 Mass.
Shop
KU's chapters of Phi Beta Kappa and Sigma Xi, honorary scientific fraternity, were the first west of the Mississippi River.
In the early days of Dartmouth College in New Hampshire, students were summoned to class by a man who blew on a conch shell.
LITTLE MAN ON CAMPUS
By Dick Bibler
"I'D LIKE SOME OF YOU TO THINK OF THIS TERM PAPER DUE FRIDAY AS A 'DO-19-YOURSELF' PROJECT."
.. Letters ..
Editor:
The recent fake early enrollment permit incident leads me to publicly ask a question that has remained unanswered for me since I have been at the University.
Under their plan a student may, several weeks before the end of the current semester, select his schedule of courses for the coming semester. This schedule is then approved by the student's adviser and the dean of his school. Having completed this process all classes are reserved for the pre-enrolled student, and his time spent at the enrollment tables is limited to picking up his class cards and filling out the usual forms.
This plan benefits the student in that he can plan ahead his schedule of courses—impossible under K.U.'s present system. It also is a trouble saver for the university because the last minute scramble for opened classes is avoided. Classes are scheduled according to the demand for them.
Why does K. U. not use a system of legalized pre-enrollment? One system used currently at several universities of more than 5,000 students has proved highly successful.
Doubtless the University Registrar is aware of such a program, and quite probably there is a valid reason for his not adopting it.
But the present system seems only to lend itself to violations such as the recent "scandal," and in all probability an enterprising student in the near future will "build a better motetrap."
Al Higdon
Wichita Senior
We're Proud of Our TWINS!
Two Great Gasolenes
NEW MILEMASTER
Stepped up in Everything but the Price sells at "Regular"
NEW
SUPER 5-D
A
Stu
to 1
cha
1. Extra High Octane
2. Anti-Stalling
3. Antj-Carbon
Th of t fici pos eigh sis per cha agen
4. Anti-Rust
A tory tic type
5. Upper cylinder Lubricant
A to e the will inte
D of for Chi a Thu Roo ban
S
phy
wai
men
ten
vat
can
tha
mei edu
8th and NEW HAMPSHIRE