New-York tribune., 1874-06-03
MR.. wATsoNs SUCCESSOR NAMED.

THE vANDERBILTs AND COL THOMAS A. SCOTT
DECLINE THE PRESIDENCY OF THE ERIE-HUGH
J. JEwErr THE MOST PROMINENT CANDIDATE.
Ever since the elimination Of the troubles in the
Erie Railway growing out Of the revelations of ).
II. Dunan, the ex-Auditor it has been believed that
President Peter II. Watson would have to retire
from the administration OF the road This belief,
confined to the few persons instrumental in man.
aging the inner workings of the road, has taken
such shape that it IS officially asserted that
President Watson will retire from the Presi iency of
the road at the approaching election In July.
The history of the troubles which lead to this re-
suit is too fresh in the minds of TRIBUNE readers to
need elaboration. When President Watson went to
England to negotiate the S40000,0CO loan which he
sald Erie needed 10 place it In condition to COM
pete with its two great rivals he stood fairly IN the
estimation of the principal managers of the line
The troubles in London with Bischotfsheim and Nc
Henry, the revelations of Dunan, and the general
condition of affairs have been such that when 1t was
suggested that President Watson should retire at
the next election, the suggestion was not opposed
Ever since this became a matter of policy, the
principal directors and managers of Erie have been
in conference with leading railroad men with
view to securing President for Erie. The Wander
bits. who were the first choice for the Presidency,
would not take it, and Col. Thomas A. Scott, to
whom it was offered, declined the office. The per-
most recently approached was Hugh j. Jewett
a Director of the Pittsburgh, Cincinnati and ST.
Louis Railroad. more generally known as the
Pan Handle" Road, consolidation of the
Steubenyille and Indiana, Holidays Cove
and Pan Handle roads. Mr.. Jewett came to this
city on Saturday with Col. Scott, Don Cameron and
other railroad men from Pennsylvania, and had
talk with S. L. NJ Barlow on the subject. What the
result was is positively known. but If the condi
tions be reconciled Mr.. Jewett will be the next
President Of Erie. President Watson will resign
from the road the plea of illhealth and suitable
resolutions will be passed on the occasion. AS he
has made contract for five years service, however,
it is probable that the subject Will have to be con-
sidered by the Company.
With a view to ascertain the details of the
change in the administration of Ere a TRIBUNE
reporter sought one of the principal directors
of the Company. He said that 1t was true that Mr..
Jewett, among others, had been considered as q
suitable person to succeed President Watson. The
latter gentlemans health would probably compel
his retirement in July, and he had already given
utterance To his views on that subject No matter
what change occurred, however the policy of
Erie would be the same, namely to endeavOr
to pay regular dividends on the common stock. He
considered that now more than ever the Erie was in
a far way to attain that end. The presidency of
Erie would have been accepted by Col. Thomas A.
Scott if it had not been for the necessity for caring
for the Pennsylvania Railroad, which is rendered
doubly imperative by the death of President T.
Edgar Thomson. No conclusion, however, had
been positively arrived at, and he could not tell
beyond question who would be the next President
of the Erie Railway.
Application was made to President Watson for
4 /.
said that he was specially engaged and could not
see the inquirer
Mr.. Jewetts nomination is believed to have been
due to Col. Scotts influence. and accounts for the
visits of James McHenry to Philadelphia just before
he left this country.