The morning news. [volume] (Savannah, Ga.) 1887-1900, 1889-09-17
MAI. BELKNAP RESIGNS.
THE CENTRALs GENERAL MAN
AGER TO BECOME A BANKER.

Central to Take Effect Oct. 15-Mai.
Belknap's Career as a Railroad Man.
General Manager NJ. S. Belknap of the
Central railroad has resigned TO become
cashier and general manager of the Inter
national and Mortgage Bank of Mexico, re-
Gently organized with a capital stock Of
$5,OOO,OOO.
Maj. BelknRp's retirement from the Cen
trail will be surprise in railroad circles.
The fact of his contemplated resignation
was known only to a few Of his intimate
friends. Maj. Belknap was seen last night
by a MORNING News reporter about his
retirement from the company.
sit is true" he said. my connection
with the Central is severed. 1t was with a
great degree of reluctance that l sur
rendered my position, but the repeated
offers that have been made me recently
have caused me TO consider the matter, and
in resigning do so deeming it just to my
SELF"
Maj. Belknap's resignation is now in
President Alsxander's hands, and will take
effect October Is. He will leave for
the City of Mexico early
in November His position with
the bank will be that of cashier and general
manager. He is also a director of the bank,
which is controlled by a syndicate repre-
sented by II. B. Hollins 81 Co. and Robert
Colgate, of New York; E. w. Clarke q Co.
and William c. Houston, of Philadel-
phia; Matthewson a. Co., of London,
England, and Martin & Co., of Mexico
TO LEAVE THE MIDDLE OF OCTOBER.
As soon as Mai Belknap's resignation
has been acted upon he will close up his af-
fairs here and Oct. Is be will leave for a
trip north From New York he will go to
Louisville, where he will spend some time
at his old home He will leave there in
time to reach Mexico a few days prior to
the opening of the bank.
Gen. Alexander is now in New York.
Maj. Belknap's trip north, he said, did not
primarily have anything to do with his
resignation. He did not dream when he
left here of having to entertain the propo-
sition that he afterward considered in New
York. The matter was first brought to
his attention last May. He received
a flattering offer then. but he
had fitted himself for a railroad man and
he did not deem III wise tolchange. Other
propositions were made to him to become
manager Of the Mexican bank, which he
put aside without serious consideration
When he went north he was met by the
representatives of the syndicate and the
matter was again preached This time he
III,
several concessions on the part of the
syndicate he accepted the offer to become
cashier, manager and director and mem
Der Of the local board of management Of
the bank. The financial inducements offered
were of such a character as to largely in
fiuence his decision.
THE LARGEST BANK IN MEXICO.
The bank will be the largest financial in
stitution in Mexico. The capitalists at its
back are men of high standing. The Mat
thewsons of London rank with the Roths-
childs. There is only one bank in Mexico
with a capital approxim9ting that of the
new bank that is wholly under En-
glish management. The International bank
possesses very valuable co lcessons from
the Mexican government, aud is expected
to very largely facilitate the transaction of
business between the United States and
Mexico.
Maj. Belknap became the general super
intendent aud shortly afterward general
manager If the Central railroad nearly
three years ago. The Central's
reports show that during this time
Maj. Belknap has supervised the laying of
$4,000 tons Of new rails and has ballastei
probably 200 miles of road He mad added
nearly 1000 cars to the roads equipment
The character of the motive power has
been changed since he became general man
type have been added. One hundred and
sixty miles of railroad have been built, in
Guiding the Columbus and Western and the
Ozark extension, tue Blakeley extension, the
Southwestern extension, Buena Vista and
Ellayile, and Savannah and Western
Quite number of new depots of modern
architecture have been erected Mai
Belknap has projected important improve
ments at the terminals in Savannah. which,
when well carried out, will be Of pre-eminent
Importance TO the city Among the i'm
provements are the Gordon press, the cot
ton platform on the old water works site,
the new lumber wharves and the new tracks
which are now under Roadway.
WHAT HE HAS DONE FOR THE CENTRAL
When he assumed the management of the
Central the best steel rail track was fifty
six pounds, and the branches had all the
way from 25-pound rail up. This weight
has been replaced with 6319-pound rails on
all the lines except the main stem, which
has 6S15-pound rails. Maj. Belknap has SUI
perintended the building of twenty-five or
thirty new iron bridges replacing wooden
structures. The standard rules were put Ia
operation by him, and the Central is now
handling its trains by telegraph. The comp
trollers department was also organized by
Maj. Belknap He consolidated all the roads
which were formerly managed independ-
emily, and put them into divisions, now in
charge of division officers, obtaining uni
form system Of handling the business. This
was the first work he did after taking hold
of the Central. 1t was the intention of the
general manager to ballast the entire line.
aud sand has been used until rock could be
procured. With this in view, Mai.
Belknap bought stone quarry
at Griffin, building the necessary machinery
to crush The stone. The crushers are now
in operation, and the road is rapidly being
ballasted.
Maj. Belknap's career as a railroad man
has been a remarkable one. After receiv-
ing thorough education as civil en-
gineer in France he returned TO America
and was engineer Of maintenance of way in
the road department of the Louisville
and Nashville railroad. He was sub
sequently made superintendent of
the Mobile and Montgomery division
the Louisville and Nashville. In the inter
val, however, he was in Mexico as engineer
and superintendent Of the Mexican Central
He built part of that road and started it
running. Afterward he returned to the
United States and became superintendent
of the Mobile and Montgomery division of
the Louisville and Nashville. From there
he went as superintendent to the
Vicksburg aud Meridian, and later
as superintendent of the Vicksburg.
Meridian and Shreveport road. He was
holding that position when he became gen
eral superintendent and later general man
AZ