ALLEGHANY BATTLE

Press, Volume C, Issue 29513, 15 May 1961, Page 11

ALLEGHANY BATTLE

“Brothers Win Control”

(N.Z. Press Assn—Copyright) NEW YORK, May 13

The Murchison brothers have won their proxy fighi for control of the giant Alleghany Corporation which oversees 6.700 million dollars in assets, usually reliable sources said last night, according to the Associated Press In Dallas. Texas, after a flight from New York, Mr John Murchison declined comment. He led dissident stockholders seeking the overthrow of Mr Allan P Kirby, the Alleghany chairman. A spokesman for the Kirby side said: “The count is still going on You aren’t going to know who won until it is finished." Asked if he denied the reports, he repeated: “The count is still going on." The corporation’s twiceadjourned annual meeting, which started on Mav 1. will be resumed next Thursday when the result may be announced.

One source quoted by A P said flatly: “It’s all over ” He said Mr Kirby had told close associates in the contest tha’ they were beaten. An aide to Mr Kirby said he had no‘ been informed of this Alleghany, with a 15 per cent stock interest, controls the New York Central Railroad It also controls Investors’ Diversified Services, an investment company complex In Baltimore. Maryland tellers finished the second week of sifting proxies and ballots deposf+ed with them bv holders of an estimated 9 000 000 A!le?hanv common shares Thev will start again on Mondav But regardless of the verdict *hev announce Mr Kirby aged 68. will remain the biggest single shareholders.