New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1885-06-18
.CENTRAL'S NEW PRESIDENT.
MIR. DEPEw SUCCEEDS MR.. RUTTER.
SIGNIFICANCE OF THE ELECTIoN-sKETcH OF THE
RAILROAD LAWYER


RAILROAD LAWYER
At n well-attended meeting of the Board OF
Directors OF tue New-York Central aud Hudson River
Railroad Company yesterday Chauncey Nj. Depew'
second vce-presdcnt and general COUNSEL was choseh
president to succeed Mr.. Rntter. The motion was
by Charles c. Clarke. first vice PRESIDENT anu .o
election was unanimous. Mr. Clarke stood In the line
OF promotion did TO assume the duties oi
president and is said suggested to Mr. Nanher
bilt the name OF his colleague for the place. Erastus
Corning. of Albany. elected to fill the vacancy III
the directory caused by Mr. Ruttcrs death Horace De
Hayden, third vice president, was made second VICE
president and will retain his position OF general trac
manager. The Office OF third Vice president vas
abolished. Mr.. Dcpew surrenders his place as genef
counsel to the company Frank LOOMS, who has bceh
his assistant for several Tue new president IL
understood. contempatcs changes In the stan ana
will retain his assistant H. c. Da VAL for many years
| Mr.. RutteT's private secretary.
The new president. he was leaving his ohicc Tor
lunch. was by TRIBUNE reporter IL have little TO
say" Mr. Dcpew remarked laughngly Ia answer 10
| an inquiry; simply that have been put In Inc
| saddle"
"YOur election has n significance T.
"The only significance It have Is that means tue
continuance OF companys present Policy; IN other
words that there Is unanimous approval by toth tho
| old and the new elcment-thc new being the Field
dorgan elcment-in the company OF what Is commonly
| called the Vanderbilt policy That means IN n &c"
words that subordinate TO the best possible service 10
the public at fair rates. shall be that absolute lack
OF fayon,ism ana that rigid economy which VIII secure
a fair return to the investors in the property"
In Wall Street the selection OF Mr. Depcw president
mot with cordial approval The choice OF an outside
man would have introduced elements OF uncertainty
which are now deharred by tue continuance OF the
present division OF the duties OF the executive stall
Mr. Depew better known In political circles ana as
prominent advocate than railroad man. Neyerthc-
In n thorough
retcal knowledge railroad affairs which has led to the
circulation broadcast Of his views on railroad pfopie'
expressed before numerous State legislative committees
and at National hearings in Washington In his position
rs second vice president also certain executive duties
dcyovcd upon entirely separate from his duties MS
counsel Born I'm Peckskll In 1884. Mr.. Depew comes
OF French Hugucnot family, AMI nc sun OWLS lle
homestead pnrchaed 2OD years ago by his ancestors
His mother Is a descendant OF brother OF ROGER
Sherman. Of Revolutionary fame Mt Dcpew WIS
graduated from Yale College In 1856. aud three years
later admitted the bar IIe serytd Ia the stare
Assembly 1862 from the lid westchrster Distrci
being Chairman OF Ways and Means Committee ana
acting speaker part OF the time In los te SS ear
after Governor Sey mours csclnl et DsIS" sr . ,be
secretary of state on the kepolIcah uchel ,eNc' ~ n
Democratic majority and was chosen by about SuVVv
majority He spoke twice day during his canvass OF
weeks. lie declined reelection was mao s
Japan y Secretary seward held the commission lO
weeks, ana then Resigned to resume business. ,,.
1t about this time that william H. Nans w
attracted by Pcekskil lawyer. sud IN lsco ne was
the union of the Central aud Harlem roads ~ l-69 ne
appointed attorney OF the consolidated company.
had few years previous elected director OF the
Central and subsequently hc entered tue "dus o lho
other Vanderbilt lnes-the Michigan central 'ui'atp
and Northwe-tcrD the St raul ana ona', anu '' s
Nickel Plate In May, 1-s2. upon the reorsnhkatoh OF
Ccntrals management. he was made second VICE P'e'
dent. IL.
UpfO last summer Mr. Depew malniainel an aouSe
connection politics. after us fblrou cAptt
cnce was begun. In 1872 candidate iot Lieutenant
Governor on the Liberal Republican ticket De W1s
defeated later the Legislature ~ ne hlhrsl
PUTS IT, "forgavc him by elccting him Regent OF tne
State University lie served or one year rs one OF Tue
Commissioners Ia build the New Capitol at Albany ueh
resigning the place. In tho great contest III tne
Legisatre 1851 Nr. Dcpew received Tor e4hy Two
Unite. Senator retiring only 10 secure tuc
election OF warner Miller. For p"rsonal aud business
reasons Mt the sacrifice OF the ambition o lifetime Mr.
Dcpew declined n nomination last summer whlcn Wouu
senate Ills commission n Collector Of the Port oil
York wa. made 10y President Johnson but
in consequence Of Senator l.. ID. Mofgan- fcinsl 10
sustain Mr. Jousons veto OF the Civil Rights BIZ. the
President never sent the nomination u the senate, but
tore IL up IN rage