New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-12-20
c.. F. MAYER PRESIDENT.
A CHANGE IN THE BALTIMORE AND OHIO.
RETIREMENT OF SAMUEL sPENCER-UD0E
FRIcK CASTS THE VOTE OF THE GAR
RETT INTEREST FOR THE
NEW CHIEF.
flY IxLEGRA AeH 10 r..e rR, Mrxa

NEW CHIEF
fDY TELEGRAPH TIE rRr ufva
Baltimore, D,c. iD.-Accordng to the programme
arranged by the Garrett party Samuel spencer retired
from the presidency of the Baltimore and Ohio Rail
road to-day and Charles r. Mayer was placed IN that
position at a salary OF $4,000 year. When Judge
Fck at the stockholders annual meeting a. the repre-
sentative Of the Garrett interest appeared armed WA
enough proxies TO change the entire complexion OF the
board Of directors, and by his vote controlled the
election 1t stated In The Tribune that there would
be change In the presidency. Mr. spencer did not
even then know that such was con-
iemplated He and Robert Garrett friendly and
1t Is said that Mr. Garrett was perfectly satisfied with
spencer as his successor in the presidency. But when
Judge William Frick. the IA her-in-law Of Robert
Garrett, became the Of the Garrett interest, he
did not look so friendly upon Mr. Spencer He
thought that IL would be better for the Garrett In
crest II closer to The family was In the
presidency. Accordingly Mr. Mayer, the executor
OF r. Harrison Garretts state, was selected Aside
from family affairs Mr. Mayors interest prc'ent OF
the Consolidated Coal Company, controlling vast
eadc IN West Virginia, another important con-
slider alton. Then, too, he Is a brotherin-law Of
George De D. Keim, of the Reading, one of the new
directors In the baltimore and Ohio.
President Spencer, at the meeting today In tho
Central Building. presided at the opening, but after
the directors had taken the oath and all we're
ready proceed with the election Of president. he
Mayer for the presidency. Although Mr. Spencer
not rcnomnated, eight of the state and city
directors voted for him. II IS understood that Senator
German of this number The vote was,
Mayer, 10. Spencer 8. Mr. Mayer did not vote and
B. II. Farrn. city director, was not present.
Mr.. Frick then offered a resolution thai the COM
mittee appointed April 1s, 1888, to make an In
vestgaon of the financial condition and value OF tho
proper les Of the company be requested to report and
that II the members Of the committee still remaining
In the board had any doubt about their power to mako
final report, the president be authorized to iii the
vacancies in the committee. The resolutions were
adopted but the committee declined to make report
until Il is completed.
President Mayors first Official act was to resppoins
the chief clerk and private secretary the president
Mr.. Spencer in an interview. said
until af er the stoc kholders' meeting Noyem-
Der 10 / absolutely without information as to
what the composition of the new board would be-
There had never been any indications OF dssasfac-
tion, so far I knew, with the management OF tho
property. and had no reason to suspect any inten-
ton to make a change In the presidency. some Gays
after that meeting member of the board advised mo
Of preference on the part Of certain large stock
holder interests for Mr. Mayer for the position and yr
Mayer subsequently stated to that he had consented
to the use Of his name. These gentlemen cane OF
their accord, and could not regard heir state
ments as coming from board then unorganzed.
Under these circumstances and no causes for tho
desired change given, preferred 20 await such
authoritative expression he board. a majority OF
1t, might nt to make. 1t has acted to-day, ex-
ercislng rights which one Will question, and I
have now nothing 10 say on the subject"
Charles T. Mayer the new president, Is Baltimore
merchant by right of descent from Christian Mayer.
his grandfather wkO was for many years the prfnci-
pal member OF the firm OF Mayer & Brantz, which did
extensive business with the East Indies and Europe.
Mr.. Mayer is a OF action rather than words. AZ
president Of the Despard Coal Companies, his energy
and enterprise built up large gas coal trade against
Many Obstacles He is known as patient ami In.
collect and digest the facts cOnnect ted with the soft
coal trade OF the country for submiss on TO Coneess
guide Congress In dealing with the intricate questions
vas resolved to make the Consolidation Coal Company
a Maryland enterprise Mr. Mayer was at once cho'en
pressed condition, aud further complicated by
that time, however, under Mr. Mayer's managem'nt,
tn re has been steady increase ~ the output, and
ford its own mines and those q
the rest of the Cumberland region ample means OF
reaching the Baltimore and Ohio Railroad at Piedmont
and Cumberland, the Chesapeake and Ohio Cana and
its place as the largest producer Of SENT oumnous
coal In America. Mr. Mayer IS also president OF tho
susqiehanna and Underwater Canal Company and 2
score Of other corporations Mr. Mayer was msrried
George May Keim, Of Reading, Penn, who for many
years represented the Reading District in Congress
and George De b. Keim, president Of the Reading
Coal and Iron Company, are brothers-in-law of Mr..
Mayer
The election Of Mr.. Mayer president OF the Bal
timore and Ohio Railroad is complete victory for
the Garrett interests. 1t is said BY Wall street
friends of the company that the change will mean
more aggressive policy and the immediate completion
Of the line TO the staten Island terminals. Nr Mayer
has been associated intimately with the CARROTS for
many years. and he of the executors of the will
of I. Harrison Garrett When 1t was contemplated
few years ago to establish branch OF the banking
house at New.York, Mr. Mayer selected as tho
New-York manager.
friend Of the CARROTS said yesterday: Mr. Mayer
possesses large executive ability and will make
% eaae 3 o do the e work The only OBJECTION %
Mr. Spencer, understand was his lack of sympathy
dent Robert Garrett merely tolerated him account
OF his ability as traffic maraSer hu' there was never
the slightest cordiality in their relations
THE CHANGE IN THE b. AND o. PRESIDENCY.
TO the Editor Of The Tribune.
Sir: The retirement of Samuel Spencer from tho
presidency OF the Baltimore and Ohio Railroad and
the election of Charles F. Mayer in HIS stead which
took place at the meeting OF the Board OF Directors
held here to-day, fully expected IL Is unfortunate
for the Baltimore and OHIO Company that Mr. Spencer
was not retained In its service 1t is generally thought
tha the affairs OF the company In a crisis and
that the very best ability and management
qured
Mr. Spencer not superseded because of any
charge of ineffciency mismanagement-none could
be made or sustained His reputation is established
and recognized of the ablest and most efficient
railroad men in the country. Educated as a civil
glneer nc devoted his whole life from youth up
the railway service, ia every branch OF which he has
large experience.
The retirement of Mr. Spencer is due to the rcstora
ton of the Garrett influence in the control aud man
agement of this unfortunate company. While Mr.
Spencer the head of the Bati-
moro and Ohio, as president, he brought
about thorough and radical changes in the AL
mnistraton In the direction of economy and efficiency.
In effect he modernlzed the Baltimore and Ohio Rail-
road, and put It's operation and financial condition
sound basis. In making the sixty second annual TO
port he had the courage to present full and candid