New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-01-19
RuMORs ABoUT LAKE SHORE DIRECTORS.

RUMORS ABOUT LAKE SHORE DIRECTORS
The designations have been announced in
Cleveland II. b. Payne and Amasa stone directors
of the and Michigan Southern Railroad Com
pgny. Both have beeu connected with the proper
" nearly from the time OF its creation.
II has been said in Cleveland that Messls.
Payne and have retired because they did not
ey approve the action Of the board with regard to the
acquisition of the Nickel Plate road The assertion
was made that they regarded the price paid by the Lake
Shore as excessive In this city little can be learned re-
spectlng the matter Persons connected with the Van
derOt roads say that they ignorant OF the fact Of
the rsgnatonb they deny that they could be caused
hy any dsa greement In the board The last NewIork
meeting OF the board adjourned 10 Erie, and the
nouncement of the retirement OF Messrs Payne and
stone was made subsequently to that meeting. per-
generally well Informed In matters connected with
the Vanderbilt properties said yesterday that while he
could make positive statements, he guessed" that
there had been trouble III the board aud that the
two directors had retired because Of their OBJ
lection to the actOn CT the board In
regard TO the control OF the Nickel Plate"
william c. whitney, who Mr.. Paynes son-inaw, said
that he knew nothing beyond the statements In tue
Cleveland papers.
William IL. Vanderbilt denied last evening that there
was any Disagreement in the Lake Shore Board Re-
ferrng 10 the reported 1esgnations he said " do not
these gentlemen have not resigned You ought
to them to hnd that our These designations nave
not come before the board You magnify the
Importance OF this matter by referring to 1t
all. What was done Mt the Erie meeting
Disagreement in the board to the Nickel PaIe any
thing else. TLore never has been any DISAGREEMENT
among the directors since have been connected with
the board Whatever the board has dOue regarding the
Nickel Plate has been under tue advice OF counsel and
Ia perfectly proper don't know that those gentlemen
have resigned. don't think they have been at any
board meeting since the advice OF counsel sought
the Nickel Plate matter"
To the Inquiry whether the Wall Street reports were
true that "Nicke Plate" Road had aske part
OF the trunk line traffic. Mr.. Vanderbilt replied that he
did know. g. am not even director OF the road"
he said and what the company may have done do not
road and suppose that he will operate IL IN harmony
vita Lake shore and NewYOrk Cen raj system. IL
IL Of consequence anyway whether the DecOmes
member OF the pool for all the railroads have
all hoy do business III fact than
they can do properly. | not know that the
Lackawauna RO id Is cutting rates and II the rumor Is
true, the fact Will not disturb the existing
agreement between the trunk lines. Ii foolish tUing
for The LacSawanna road to do but do not that
ii In cutting rates"
Mr.. Vanderbilt said that he was expecting 10 go TO
California soon, but that his plans were not complete
lie has never visited the Pacific coast - am going
somewhere" he added, "and IL makes little difference
where II can only got Of the reach of kilograms
aud news pBpers."