St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-12-20
SPENCER SQUELCHED.
Directors Of the Baltimore &
Ohio Elect Charles F.
Mayer President.
The Retiring Chief Takes the
Action Of the Board
Coolly.
New Haven Directors Propose
to Increase the Capital
Stock.
indications That the Western
Passenger Association viii
Be Recognized.
Special to the Globe.


BALTIMORE, Nd, Dec. 1.-THE
monthly meeting Of the board of direct
ors of the Baltimore d Ohio Railroad
company was held to-day, and organ
lied by electing Charles f. Mayer presi-
dent. The election was protested
against by the city and state directors,
who cast eight votes for the retention of
Samuel Spencer. Mr.. Mayer received
thirteen votes. A resolution was
adopted requesting the committee APP
pointed last April to investigate the
financial condition of the company not
20 make a report until they could bring
In a full and final report. 1t had been
the intention of the minority of the
committee (Messrs. German and Lana
han, state and city directors to report
to-day.
ings ~ and expenses of the com
pany for November show earn
ingS for November, 1855, S1.GG0, 3O2;
for November, 1887. 81, 1898 Expenses
for November, 1888, Sl,157,923: for No
vember, 1887. 81, go, 749. Net decrease,
S106, 259. After the adjournment of the
board of directors a United Press re-
porter called upon Mr.. Samuel Spencer.
the retiring president, and asked him if
he had any statement TO make. He
replied: "As TO the various newspaper
statements which have been made re-
gardlng my retirement from the presi
deucy of the Baltimore d Ohio com
pany, / have only TO say that until after
the stockholders meeting on Nov. 10, |
was absolutely without any information
II Of be
board would be. There had never been
any indications of dissatisfaction, so far
as / knew, with the management of the
property, and had no reason to suspect
any intention as TO change in the presi-
dency. Some days after that meet
ing member of the board
advised me of preference
on the part OF certain large stakeholder
interests for Mr.. Mayer for the posi-
ton, and Mr. Mayer subsequently stated
to me that he had consented TO the use
of his name. These gentlemen came Of
their own accord, and could not regard
their statements as coming from board,
then uhorganized. Under these cir
cumstances, and as no causes for the
desired change were given, i preferred
10 await such authoritative expressions
as the board, or majority Of it, might
DGi III w llldht. II litto dIliu bO-tlhl : tA-
ercising rights which no one will ques-
ton, aud / have now nothing to say on
the subject. Mr.. Spencer takes the
action OF the board very coolIy, and his
dignified department has not been at all
ruflied. That he has managed the
Baltimore ~ Ohio with conSummate
skill. both as railroad man and as
fnancler, is admitted by the whole bust
ness public, and his retirement is re-
GREETED.
Mr.. Mayer is ffty-six years of age and is a
Baltimoream y birth He is recognized rs
man of fine business talents. Some years
ago when it was resolved to make the Con-
solidstion Coal company Maryland enter
prise, Mr.. Mayer. then president of the Des-
pard Coal company Il director of the Western
Union bank and other institutions, and the
head of the firm of Mayer, Carroll IL CO.. was
nj once chosen president. and under his
management the company has assumed its
place n the largest producer of seml-bitum
inous coal in America. Mr.. Mayer is also
president of the Cumberland q Pennsylvania
Railroad company, the Susquehanna d Tide
Yates Canal company, and number of
MI