St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-08-23
.Tc,re,t md tbe Eric P,es;dc,cy

New York, Aug. 22.-Owing to conflict
ing reports relative to the resignation of Mr..
Jewctt, as president of the Erie railroad, and
the appointment of Mr.. King, assistant pres
ident, one of the directors of the company,
and member Of the committee, having the
subject in charge, furnished the following
statement for publication:
son July H. II. J. Jewett addressed
communication to the board of directors,
saying: 'Ten years ago this day | was
elected president of the Erie Railway com
pany, with the understanding that was to
serve it for a term of ten years. Upon the
dissolution of that company, and the organ
ization of this company that con-
tract perhaps became imperative, but
| felt il to be my duty to serve the company
for full time, if such service was required,
regardless Of any contract or obligations,
and | so advised the members of this board.
1t, however never contemplated longer Of
fetal connection with the company. For ten
years have devoted my entire time with
all the skill aud ability | am possessed of, to
the care and management OF the interests of
these companies, to the absolute and entire
neglect OF ms private business and personal
interests, looking forward to the end of the
ten years when | could return to them, and
to some extent reinstate them to the condi-
ton in which / left them For some time past
have, with great care and anxiety, been re-
viewing the details of the improvements.
extensions and management Of the prop
critics, interests and business of the com
panies since my connection with them, ex-
pecting to realize that l had made many
mistakes and fearing I might find some of
serious and perhaps damaging character.
That | have made mistakes there can be no
doubt, but l am gratitied to find, and be able
to say, THAT, upon 4 careful review of the
whole period, can find no transaction of
importance that, with the same light only
which were then before me, | would not now
repeat With TIE ssme lights and the additional
experience | now have in many instances /
would perhaps have advised different line
nf action and policy. If, therefore, there
was nothing else involved, aud the business
Of the country was in happy and prosperous
condition (which is ell that is necessary for
healthy and prosperous condition of this
company. after rendering 10 you my most
sincere thanks for, apd unqualified apprecia-
ton of your uniform kindness to and CO.
I operation with me in the discharge of my
official duties I should tender To you nv res
/ gnation rs president of this company;
I but in view of the disordered and dis
/ organized state of affairs and business.
generally rs well as Of the business and in
terests oftais company. l cannot see mr.
4 way clear to tender such unqualified resig-
I nation. ! can do nothing more at present,
/ therefore, than to place before you the
! facts and to remain subject to your viii and
! pleasure, with the distinct understanding.
/ however. that I cannot consent TO reelection
so as to have devolyed upon me, in the fu-
/ TURF IS in the past, the detailed manage
+ ment of the various departments and in
+ terests OF the company.
/ Thereapon the directors appointed a CON-
f mitiee 80 see Whist isgaetory arrangement
could be INSIDE, which would still retain the
4 services Of &r Jeweft to tie eompanr. but
would, * the same tlme, relieve him 0I the
cars and t,Tle1s of which he cOaD planned,
ard which the heard fully recognized Is ex-
I eysssve. During the consideration Of the
subject tue names OF several persons were
suggested among them that ct John King.
! late vicc-presiient oi the Baltimore & Ohio
+ rliiroaG company, wita whom JeEett
Z had hceu long and person
+ aily sgqusiris..yi. The committee
+ ascersained the assistance of King would be
+ personally agreeable - JsEeit, bat did not
see it. Esy cIcsF n take asy action locking
iuf}s " TniutEeot aS assistant president for
. IT, G-4e l~las-, uEtil ,AcY were ~ssCEe.. LA.