Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1888-12-20
MAYER AT THE HEAD
THE B. & 0. RAILROAD PASSES UNDER A
NEW MANAGEMENT. .-
Spencer Rstrss, Though the City and State Directors
Units in Supporting Rim-Ths Monthly
Rsp0rt-Ths New Policy 10 bs an
Aggressive One.

BALTIMORE, Nd, December 19.-The
regular monthly meeting Of the Board Of
Directors of the B. & o. r. r. Co. was held
to day. The Board is composed oftWenty'
three members and all were present ex'
cent Mr.. B. II. Farren. The meeting was
called to order by President Spencer, who
presided until the minutes Of the Last
mestirg were read and approved, after
which the election Of President being IN
order, be called Mr.. VIM. E. Burrs to the
chair. Decatur q. Miller nominated Mr.
Chas. F. Mayer for President fbr the en-
suing year. Mr.. Mayer Iecsived thirteen
votes, while Mr.. Spencer received eight,
Mr.. Mayer not voting. Mr.. Mayer, on
taking the chair, briefly thanked the
Board. aud expressed the hope that with
their aid and cooperation he would be
sble TO manage the affairs of the company
in such manner as would be satisfactory
TO all interests,
Mr., Mayer is Sc years of age aud Is q
Baltimcrsan by birth. He is recognized
as a man Of fine business talents. MI
Mayer is also President Of the Gunner
land and Pennsylvania Railroad Company,
the Sueuuehana and Tidewater Canal Com-
pany, and q number of other corporations.
The monthly report of earnings and ex-
psnses of the company for November shows:
Earnings for November, 1888. 81, $50, ,3O2;
for November, 1887. 81, 7a9, ,3S7. Expen-
ses for November, 1888, 81, 1877, 923; for No
vember, 1857, $l,22O,749. Net decrease
$1U5, 259.
After the adjournment of the Board OF
Directors O reporter called upon Mr.. SAM
uel Spencer, the retiring President, and
asked him if he ha5 any statement to make.
He replied GAS to the various newspaper
statements which have b:en made regard
ing my retirement from the Presidency OF
the Baltimore ard Ohio Company,
I have only to say that until sft'r
the stockholdsrs' meeting, on No
vember 19, was abs bsolutely without any
info, nation as to what the composition OF
the new board would be. There had never
been any indications of dissatisfaction, 50
far "a knew, with the management OF the
property, and had no reason 10 suspect
any intention as to change in the Presi-
dency. Some days after thst nesting o
member of the Board advised me Of pref
ersnce en- the part of certain large stock
holder interests for Mr.. Mayer for the po-
sition, and Mr.. Mayer subsequently stated
to me that he had CONSENTED to the uee OF
his name. These gentlemen came OF
their own accord, and l could
not regard their statement as coming
from a board, then unorganizsd. Under
these circumstances, and as no causes for
the desired cnauge were given, preferred
to await such authoritative expressions as
tie board, OF majority Of it, might see tit
to make. 1t has acted to-day, exercising
rights which no one will question, and /
have now ro.biog to say on the subj ect "
Mr.. Spencer takes the action Of the
board very coolly, and his digoitisd de-
pertinent has not zen at all ruffled, That
be has managed the Baltimore and and
Ohio with consumate skill, both as q
railroad man and ss iuancier, 1t ad-
mitted by the whole business public. and
his retirement is generally regretted.