Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1888-04-29
NEW YORK LETTER.
COLLEGIGNs NOT POPULAR IN WALL
STREET.
Some OF the Leading Railroad-Msn-suc-
eessful collsgs-Bred Railroad
Directors
Correspondence Of the Richmond DisDa'ch.l


popular in Wall street just now as rail-
road presidents, said one critic. " The
cxperi noes OF the Chicago Burlington
and Quincy railroad are enough for me-.
It happens that Charles T.. Perkins,
the pr -ldlut of the Chicago, Lurling-
ton and Quincy, now well known
throughout the country by reason Oh ITS
hard fought battle with It's striking en-
pioyoes, Is not q colicC'an. Ihiriy-two
wears ago lie was % station agent ont on
tine frontier Then me became a cashier,
then assistant secretary. then treasurer,
then vi'c-rresidcni. and finally pres'-
dent. Ie Was private IN the raj
ROAD array. and rose e. !e q general
commanding no small part of the
force of six hundred thousand men who
operate the railroads Of this country. lie
is iorty-ei8ht years old, OF medium sta
ture, thick get, Of swartAy complexion,
has % spare. rce0.Ute iaoe and % bright,
keen eye. man Of pleasant, even tIscl-
mating address Re married daughter
Of john ". Forbes, chairman Of the
Dolrl ot Directors, who made a large
fortune as ship-huiidor, and once acted
as chairman Of the National Republican
Convention. w. Perkins Is endowed
With large share OF strong common
sense, and makes az concise and logical
a statement as though he had graduated
with the highest honors of a university.
lie was born in Cincinnati IN 1870, anil
entered railroad service M bis nineteenth
wear and has been president a.. the "Q
road since 1851. His friends cay DE
mover speculstes In stocks. That is more
than can he said OF some other railroad
officials Of the West, who are always
either long or short OF the market aud
who when they are on the bear side do
not hesitate 10 fomcnt strikes and cut
rates solely for the purpose of depress
ing securities Of their own roal5-au act
that should be made State prison
offence.
Mr.. Perkins has a fortune Of about
100000, including a thousand shares OF
Bell telephone stock. II hisadmialsfra-
ton is detective 10 is not because he is "a
college graduate.
Most Of the directors of the go -
road are men Of collegiate education.
They include william tnd,cotr, who
eucceedcd Henry Willard q, president of
the Oregon ImuscYutinent4i Company.
He is now leading merchant of Boston.
Sidney Bartlett and @. T. Hoyey are
other members 81 tie board welt known
in tie last. Joan NJ. Fofbc, Is an able
politician AMI an influential member of
the Republican party. he wa, practical
enough 10 smass q large fortune.
Austin COrbin, VINO has met with sig
nal success as president of o. number of
railroads, received ac0llcciato education.
Chauncey ~ Depcw, president of the
New York Central. though not p great
fuancler is shrewd enough to follow O.
safe, conservative course. S. y. White,
who has amassed q fortune i'm Wall
street, Is a graduate OF an eastern COLI
lcge.
CHARLES FRANCIS ADAMS.
Charles Francis Adams president Of
the Union Pacific, is q graduate oi Yale.
lie has strong, square features, shape
~ head. ia replsc his face has look
of Puritan austcuty. though be never al-
lows Puritaulsm 20 interfere with the
success OF financial prospects, lie vls
born in l93j-of course the event could
not have happened anywhere else bat IN
Eoston-nui did not enter railroad life
ia an official capacity til lSoi. though
be had some railroad experience as a
member of the Massachusetts Railroad
Commission from 1869 t0 1879, and as
arbitrator Of the Executive Committee
of the Trunk Lines. In the railroad
drama, however, he was never super
uumeary; Lc played uo MINOR parts 3;
be became star actor at once, ~ other
words, president of tie Union Pacific a.
the first Office on entering railroad SER
vice.
Has Jay Gould, man whose education
is self-acquired, made the best Of rail
road presidents is asked. How many
ships Of finance has he not nm ON lee
shore. guided by false beacons and
awaited by wreckers eager for piuuder ?
Can the hero Of Missouri Pacific, Texas
Pacific, Kansas Pacific, Missouri, Kansas
and Texas. Union Pacific, Ere. Mammal
tan, and other wrecks be termed model
railroad president: These are some
questions which Wall-street c0lleeiaus
flushed with Indignation. are apt 90 ask
when men OF college education are de-
nOunced as impractical and uutrust-
worthy. c. p. Huntington snI Leland
Stanford are not cOllegiaus, and both
have been threatened with criminal IN
dctment. Samuel Sloan, president Of
the Lackawanl road, is a man of defoc-
tive education and far behind the times.
Hugh j. lewe.t, a collegian. was prac-
teal enough TO make fortune as % rail-
road official He vas born at Deer
Creek, Maryland. and entered railroad
service as a director iu the Central Ohio
in 1850. In two years he was president
of the road. IN 1859 he was president
Of the Little Miami. Columbus and Aenla
road, and shortly after OF the Cincinnati
aud Muskingum Valley road, and a little
later ce-president Of the Pittsburgh,
Cincinnati and St Louis. In 1877 he
was general counsel 10 the Pennsylvania
road, and from 1874 to 1884 president Of
the Erie at $50, 600 year. That was a
very successful blending Of the classics
with matter-0f-fact finance.
Hundreds of co.legians akeexcellent
railroad directors. In the increasing
completely OF finance. as years advance,
education, the mind trained by systema-
tic study, will be more and more impcra-
tive. In the social, commercial, and
financial evolution we are moving steadl-
ly onward from the simple 10 the com
plex. and M increasing number OF edu-
Gated men are annually entering the do
main of finance and other fields OF
activity.
Charles /. Colby, president Of the
Wisconsin Central, Is q graduate OF
Brown University.
Stuyvesant Fish, Secretary Of State in
Grants administration, Is president OF
the Illinois Central and graduate of
Columbia College Albert link had a
college education.
Thousands Of successful fnanciers and
merchants send their sons 10 college and
give their daughters the best education
that Vasslr. Oberlin, Wellesley. Holyoke,
Wells, and other institutions can afford.
Two Of Jay Goulds sons were educated
at Yale and Columbia. Leland Stanford
Is founding university. Samuel clOan's