National Republican., 1883-09-27
rnr rnrs1prNr or prNvnn.
Mr.. Frederick Lovejoy Elected to Succeed
Gen. PaImcr-Vvho lie Is and What Tic

MIR. Frederick Lovejoy Elected 10 Succeed
Gen. PaImcr--Vvho IIo Is and What lie
Says.
NEW York. Sept 2G-Mr. Frederick Love.
joy, who was to-day elected president of tho
Denver and Rio Grand railway as successor
to Gen. Palmer has been for thirty years past
in the service of the Adams Express company,
during the last seven years of which h o acted
as general manager, with offices at Philadol-
phia. This Office he resigned few months
ago, though in possession of his full health
and strength. He is not yet 80 years of age.
During the war he had charge of the express
service for all the northern armies, and this
difficult business he conducted with excep-
tional success. He is u man of great execu-
tive ability, and Is essentially in sympathy
and training II railway man. His manage
mont of the Denver and Rio Grande and his
election will, IL is said, bring TO the road the
support of Mr.. A. J. Cassatt, Mr.. Woerishoher,
w. l.. Scott, the Drexels, and others.
To q question put by reporter Mr.. Love-
Joy said "My policy Is not ut this minute
very easy to define. Before formulating il
must first examine into the property | shall
Immediately leave for the west and commence
q thorough inspection OF the lines of tho conf
pany in order to inaugurate such repairs and
REORGANIZATION as will make the Denver and
country in equipment and facilities for doing
business
"In this will you have tho assistance of tho
Now York hackers of the roadY'
"Fully, My election was tho result Of
settlement of all differences in the board of
directors. / said TO the committee when
wns first approached upon tho ma tier that
could not think of accepting tho presidency
of tho road unless ] could command tho
unanimous and earnest support of the direct
ors. This has been pledged"
"How about tho finances of the Denver and
Rio Granlo?'
"The road is in pretty good condition. Its
gross earnings last year amounted TO about
S1000,0O O0-enough to pay its fixed charges
and TO redeem half n million of car trust
bonds. No new stock will be issued or needed
Not over S1,000,000 will be required to put
the road in first class condition. This money
has bccn secured. 1t will be used to put the
road in thorough repair, in widening cuts, in
building projections against land slides which
seriously Inconvenience the road this past
spring, substituting iron bridges for pile
bridges and in similar ways"
will you make any changes in the per-
sonuel of the companys ofIicersW
THAT l cannot now say, but l shall place
at the head of every department the very
strongest man ! can get for the position /
shall pursue policy Of vigorous progress, and
leave no stone unturned TO make the road
justify all the hopes of its backers"
| New YORK, Sept. 26.-Additional railway
traffic returns for the third week of Septem-
Der given out to-day are very favorable. The
most striking statement is that Of the Mani
toba road. which shows earnings for the week
of $103000, an increase of $i,400, notwith-
standing the fact that fully 20 per cent. the
business of tho company last year was de-
rived from the transportation of materials
used in the construction of the Canadian Pa
cifc. The gain this year is duo to the in
crease in local traffic, which has made up for
the loss of the Canadian Pacific business. The
earnings of the Missouri Pacific and its south
western system, including Wabash, for the
third woek were $1,2l0,ls7, an increase oi
$131,020. Tho Louisville and Nashville
earned $3li,700, an increase of S50,505, and
the Long Island, S66,5Sl,a IAN increase of 50, 80
The Chicago and Alton earned 1926, ,S52, de-
crease of $50, 752.