, 1880-05-02
TILE RAILROADS..

|
| THE RAILROADS.
TOM SCOTT.
Special Dispatch to The Chtcaoo 1+tbnr.
| PHILADELPHIA, Pa, May 1.-The first hreat fr
the great quadrumvirate ct railroad kings sine
| the death of Vanderbilt has come tbro,gh ~.
! resignation Of President Thomas A. scott ~
the Pennsylvania Railroad Company. It twos q,
a regular meeting Of the Board for tho nnrnosa
Of declaring dividend. and, that having heer
I done. Col. Scott arose ana handed to one of the
| Vice-Presidents a letter with the remark.
| "Gentlemen, here is a communication from, me
which you can consider without me.'' and ra.
| tired with smiling good morning. Assistonr
| Secretary Sims then read his resignation AZ
President and Director, to take effact
June /, when he will have comn1etea
six yenrs' service rs President fourteen aa
Vice-Presldent, and almost thirty in the service
Of the road. The reason given was Il1-heo,th,
which has led his physicians to insist upon his
retirement from active business The purnort
of the letter was surprise to the majority of
the Board and for fully two minutes there wa a
not q word spoken. Indeed, as one Of the oldest
Directors remarked, It would have heen "a.
lief If wo could have cried" Wistar Morris. who
had been Director since the incorporation Of thu
Company, then arose, and, with unified and
shaking voice, moved the reference OF the res.
lgnahon to committee. Col. Scott first entered
the business Of transportation as a lad. bet>on,
ing clerk in the Office Of the Collector of
Tolls on the State Railroad at Columbia, There
he remained for some years until he came IN
this city, and in lS47 he became Chief Clerk
under A. Boyd Cummings, Collector Of Tolls at
the eastern end Of the Pennsylvania Public
Works. In November, 1850, he entered the
service OF the Pennsylvania Railroad az Cen
eral Manager Of the Eastern or Mountain
Division. This place he held until July. ls52.
when he was appointed General Superintendent
Of the Western Division when it was first
opened. In January. 1858 Gen. Loulbaert
retired, and he became General Super
intendent, which Office he retained less
In APRIL 1so0, to succeed the Hon. William B.
Foster. Many soldiers can tell of the inlomita-
BILE energy that he showed when the question Of
keeping communication between the CAPITAL
and the North depended upon him alone. But
few outside Of the War Department know how
much he did while Assistant Secretary Of War
to keep open air lines Of communication and
facilitate the movements of vast bodies Of
troops In june, 1853, he became First Vice
President and Just eleven years after be sue
ceeded to the Presidency at the death OF ]. Edear
Thomson. Never has the position been so onerous
as In the last SIX years. He assumed control
and watchfulness, and when the Company had
assumed the management and direction. with
all their contingent guarantees, over almost 15O
and almost 500, 600, 900 OF capital He had not
only to save wherever it was possible but also
to make ready for the vast business the Centcn-
settled when the riots Of 1877 CAME, and bis
oVertaxed system began to give way. In 1874
ser serious % injury @ received IN q railroad accident
affected the upper half Of his right ieg, but not
the head or brain. In 1878 there weSe indica-
tons Of second attack, and, In his absence,
Beuce and appointed committee to wait upon
him and urge his acceptance. he remained
away year and half. and came back in excel
and With such vigor, and despite warnings,
shaE It %as soon apparent that h!s
when be put First Vice-P President Roberts in his
place rs Director OF Work Of the Western lines,
b scceeded by IL Roberts, % who les suceeeded Te
him as First Vice-Presldent, and who has risen
from the position Of rodman in the Engineer
IN 1852, and Fourth Vico-President seven % years
scott's absence Col. Scott viii devote bis time
ppreeased daFngP eRe past eaTRS ting
the Te1as : Pacific, and, though never
ing owned as many as a0o shares, has bought
be worth from 5000 600 to 81, ,oo9ooo and his TO-
-SeAAS ~ N"NSo10V yEe4s a Au*!Ac4lA WAS Ut
clared to-day Of per cent in cash or stock, at |
holders option. This will not increase the capi-
tai stock there being $1,000 900 now in the Treas
ury, which was recently purchased by the COM |
pany from the city. This will more than suffice
to meet the dividend, which calls for little |
more than 100000.
Special D!zpaseh to Tbs Chicago Itto.tns.
PITT3BURa, May 1.-The resignation OF the !
Presidency ct the Pennsylvania Railroad Com |
pauy BY Col Thomas A: SCOTT is the subject OF |
amount OF stock OF the road is held. Many |
htnk tho interests Of the road will be subserved |
:ount Of .ill-hcalth. to give the requ.stt atten-
ion TO business. William Shaw, Of Pittsburg, is |
mentioned as Col Scott's successor.