Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1889-08-28
A NEW HEAD.
The AtchisOn, Topeka and Santa
UndergOeS Great Changes.
President Strong to Step Down and Out
and to Be Succeeded by
Allen Marvel.
Officials Decline to State the Cause of the
Change, and Strong viii Throw No
Light on the Subject

CHICAGO, liz, Aug. 27.-The reor-
gauization of the Atchinson, Topeka and
Santa Fe railway company to-day as
sumed shape President W. B. Strong
retires and VIII be succeeded by Allen
Marvel, now first vice-president of the
St. Paul, Minneapolis and Manitoba
road. George c. Magoun, chairman OF
the Santa Fe board OF directors, and
William Libby, member of that body,
were some time ago appointed q commit
tee on reorganization, and these gentle
men completed their Iabors to-day. Mr..
Magoun was seen by a reporter this even
ING and talked freely in regard TO their
CONCLUSIONS
''You can state, - said Chairman
Magoun, ''that the resignation Of Presi-
dent Strong will be accepted at meet
ing of the board of directors in Boston
September s. and that he will be sue
ceeded by Allen Marvel, who is at pres
est first vice president of the MANITOBA
road. Mr. Marvel will assume his office
in this city on Monday, September 9 -
,''What other changes have you de-
termined on?''
''No others will be decided on until
after that date. There are now first,
second and third vice presidents and the
incumbrancy of these positions viii be
considered and settled with the advent
of the new president. The first vice
presidents position has been vacant for
some time by the resignation of Mr.. y.
W. Smith -
cit is stated that you have decided
to liquidate ali indebtedness by assum-
ing a blanket mortgage to cover the
whole system?'
81 wish to state in regard to that
matter that no funding scheme has yet
been determined on at all, and will not
be for some time. The present control
have looked forward to largely increased
earnings with q view of ascertaiuing the
proper basis for action. The constitute
ton of new lines were practically not
completed until a late date, SO that
really no opportunity has been presented
of determining just exactly what the
property, rs an entirety, can 30. Not uh-
til such demonstration is made, which OF
course will be largely contingent on
crops to be moved during the season, no
policy with regard to funded debt VIII
be determined on You can state that
the matter is simply held in allegiance.
''Have you anything to say IN regard
to President Strongos management or
mismanagement of the affairs OF the
company?'
81 would prefer to say nothing on that
point. There is really no occasion to
make any statements in regard to Gen =
Sirono's management or causes of his
retirement. .
'fHas your company come TO any con-
cIusiOn as to rumOrs of deals and cOllU-
sions in the matter of Suite street real
estate which the Santa Ee under Gen.
StrOng's incumbrancy was fighting for
entrance into Chicago?
ssI would prefer to make no statement
in regard to those rumOrs. will say s,
however, that the property the company
has secured in Chicago IS all very val
liable. It is in the section OF the city IN
the direction of which the large retail
business of Chicago is growing, and 1t
will necessarily increase i'll v,llue-
HAS Mr.. Marvel ever been connected
with the Santa Fe system:'
''He has not, but ne Is railroad man
of known ability. He was, / Owever, at
one time connected with til Q Chicago ,
Rock Island and Pacific, and IS well
known. He stands high as a railroad
manager and has the confidence Of the
Santa Fe owners in the East, So his com
ing here will naturally add great deal
to the strength and management Of the
organization.
1t is stated on good authority Hhat the
resignation of A. c. Armstrong, pur-
chasing agent of the Santa Fe system,
viii also be accepted on Septem Der s.
While Mr. Magouu did not deny that
this would be done he begged TO be ex-
cused from any expression on Mr.. Arm
strong s retirement.
President Strong was seen this after
noon in his room in the Grand Plcihc
hotel. He admitted without hesitation
that he had resigned.
81 have been contemplating this step
for some little time, he said
asked to be relieved July -, but the
board of directors took no action on 'my
reouest. Nv formal resignation vas
rendered August Is, TO take effe CT
September 8 l shall probably remain uu-
! till September ., as my successor viii not
be ready to take charge Of the affairs IN
| till that date.
''Who Is to be -FOUR successor? -
''Allen Marvel, who is now first vice
| president and general manager Of the 81.
/ Paul, Minneapolis and Manitoba road
| He is the choice of the directors and has
| accepted the position.
/ Mr.. Strong declined to discuss the re-
I Iatious between himself and the new
| board of directors of the AtchisOn. He
/ said that it was matter of no public in
! terest whether his views were in harmony
with those of the new board OF not, and
! he thought it was well known that he had
I resigned. He also declined TO answer
1 the question as to whether ms resigna-
! ton was volunteer or not.