The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-05-30
PENNSYLVANIA RAILROAD.
General Opinions Concerning tho Successor to
! Edgar Thomson-scott To Be Presi.
dsnt-visws Of Asssrn Mcclure,
Drexel and McMichael.


PHILADELPHIA, May %, 1874
The excitement on Third street still continues,
although the aspect OF the thorOughfare Is greatly
subdued aud In great measure free from the
stormy scenes OF yesterday. Affairs have assumed
more defined shape, and the future OF the man.
agement of the Pennsylvania Railroad 10 less enig-
maticaL The opposition. which yesterday was
said to have been forming against Scott ever since
, the situation OF MI. Thomson was announced
as hopeless, ind amounts to nothing,
. and that the gentleman whose name is now upon
everybody's lips seems destined to meet with the
unanimous favor OF the directors. or course the
Board took no action in this direction to-day.
Their duty this afternoon was to express their
great sorrow for the loss OF o chief who for so
many years promoted their interests so faithfully
and well. The form In which this was done will
appear more fully in the sequel
COLONEL MCLURE's PROPHECY.
During an interview with Colonel A. K. Mcclure
this morning, was informed that when the direc-
tors met to elect successor to Mr.. Thomson, Mr..
Thomas A. Scott would be cure to be unanimously
elected and that the place now filed by Mr.. Scott
viz. that OF vice presdent-would be filed here
alter by Mr. Roberts, was informed that there
would be no opposition, as all connected with the
views.
Mr.. DRExEL's VIEWS.
Subsequent to my conversation with Colonel
Mcclure 1 called at the ONCE OF Mr.. Anthony j.
Drexei, and found him engaged with several other
parties, each prominent In the leading banking
ana commercial interests Of the city. No better
opportunity could have been Afforded me for de-
irving fair conclusion concerning the succession
MIR. Drexers kindness, was enabled to enjoy
Mr; Drexel informed me as rollows:-
''There Is every reason TO believe that Thomas A.
Scott Will succeed the late Mr.. Thomson, while IL
is evident that the death OF the latter does nos
impair pubic confidence In or any way affect the
interests OF the road, ONLY far as the loss Of
very able and energetic man, which in itself
i ve as BEEN enng sss
can be seen from the last quotations.
am sure that all the rumors to the effect that an
unofficial proposition made to Mr.. Scott TO accept
the Office or President was declined by nm, or
that he has assured certain parties that were the
honor offered him he would refuse to accept, are
altogether uniounded."
All the other parties present at the time agreed
wa n exe ana s each seemed
the Vice Presidency to MI. Roberts,
CORRoBORATIvE VIEWS FROM MORTON MMICHAEL-
subsequently cale,' upon Mr.. Morton McMlchae
and from MN received the following opinion
81 think that when the directors meet they will
President OF their road In regard to the rum0r
you speak OF as current, can only say that be-
iieve them without foundation, and that Mr. Scott
will surely be the gentleman to whom the ONCE
will be rendered"
believe 1t to be useless to give in detail the
have called, for the convictions OF all are pre-
ciseiy the same, ana the words Of one would SIM
PLY by reproduction OF the wOrQS OF the theirs.
The public press the legal fraternity and the lead
in business men Of the community seem to recog-
ME the ascendancy OF Colonel Scott to
individual stockholders who are raising upon the
street many objections to the general drift OF
and extravaganza, who say his personal liabilities
In the Texas Pacific Railroad are enormous, and
from whom, no doubt, proceeded the rumOr denied
by the gentlemen whose opinions are given above.
This faction claim that Mr.. A. J. Cassatt, present
ior the Presidency also; but, while sever al OF the
gentlemen just quoted spoke In the highest terms
OF Mr.. Cassatt. none OF them seemed to think that
his name would be placed upon any ticket ut the
meeting OF the Board Of Directors. The feversh
state OF the stock market, which was mentioned
In the HERALD this morning, has proved but
temporary.
AZ the meeting held by the directors this morn
save TO express the sorrow which all felt at the
loss OF SO energetic and able man. The meeting
was presided over BY Thomas A. Scott The fol.
lowing resolutions were passed, the attendance OF
the members being very large-
Resolved That be entered the minutes of this
FIst-ihat John Edgar Thomson, its President. de-
ceased at his residence IN Pniadephla al twenty min
before twelve O'Clock on the evening OF Wednesday
sss TIC e the Hcs
ns o. and s ABILITY 1 n Which, e
impoan duties attesed his title to rank with the
q was Continued bv his election in 1852 to
the office resident viii oh he continued hold by
successive annual elections, until the time his death
developing the business relations oil the company
feeble beg.ings To their present Importance, with
breadth OF view ex client Judgment financial
gacity profound comprehension OF the laws OF trade
sa e ali % haissI hy
for him the absolute confidence OF the whole country
have emitted him 10 place among the foremost
men whose wisdom, character and pubic services have
so LARGELY national growth and pros
perity.
resolved. That in the death of Mr. Thomson not only
this corporation but our city our state and the whole
country have lost an eminent public servant and benc-
factor. whose memory should be always cherished and
honored
Resolved That we wI attend the funeral OF late
President, wearing the usual badge OF mourning, and
that the proper officers OF the company direct every
usual and proper mark of respect to be shown Mr. iho
sons memory In the several departments Of the
panyis service.
Resolved TEat tender TO the family OF Mr.. Thorn.
expression OF great and sincere sym
patty, praying that in addition 10 the comfort derived
the recollection of his public life
may have abundanty those higher consultations which
not OF earth
Resolved That the Secretary OF the company prepare
and furnish the family OF Mr.. Thomson DULY cert
fed copy these resolutions and have the pub
! lished In The dIiy Jou rnal5 OF this city.
| The Commercial Exchange, OF which Mr.. Thorn
| was .IDer. also passed earnest resolutions