St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-08-28
The Manitoba'S General Man.
ager to Be President Of
the Santa Fe.
President Strong Forced Out
by the Brokers for the
Bondholders.
Mr.. Marvel Has the Confidence
Of Barring Bros. and the
BOStOneSe.
However, He Says the Report
of His Promotion Is
a Lie.


ton of the Atchison, Topeka & Santa
Fe Railway company o-day assumed
definite shape. President w. B. Strong
retires and will be succeeded by Allen
Marvel, now the first vice president OF
the St. Paul. Minneapolis & Manitoba
road. George c. Magoun, chairman OF
the Santa Fe board of directors, and
William Libby, member of this body,
were some time ago appointed a COM
mittee on reorganization, and these
gentlemen completed their labors to-
day. Mr.. Magoun was seen by re-
porter this evening, and talked freely
in regard to their conclusions. You
can state" said Chairman Magoun,
THAT the resignation of President Will
lam B. Strong will be accepted at the
meeting of the board of directors in
Boston on Sept. 6, and that he will be
succeeded by Allen Marvel, who is at
present first vice president OF the Mani
toba road. Mr.. Marvel will assume his
Office iii this city on Monday, Sept. 9.
What other changes have you determined
upon"
mo others will be decided upon until after
that date. There are row first, second and
third vice presidents. and the incumbency of
these positions will be considered and set
tied with the advent of the new president.
The first vice presidents position has been
vacant for some time by the resignation of
/ G. w. Smith,
ut is stated that you have decided to liqui-
date all Indebtedness by assuming blanket
mortgage to cover the whole system!'
Il wish to state. in regard to that matter,
that no funding scheme has yet been deter
mined upon at all. and will not be for some
time. The present controi nave looked 1or-
ward to largely increased earnings with
view of ascertaining the proper basis Tor ac-
ton. The construction of the new lines
was practically not completed until late
date, SO that really no opportunity has been
presented of determining inst exactly what
the property, as an entirety, can DO. And
until such demonstration is made. which, OF
| course will be largely contingent upon crops
| TO be moved during the season, no policy
with regard to the funded debt will be deter
mined upon. You can state that the matter
is simply held in allegiance"
Have you anything to say in regard to
/ President strong management or Iais!nan-
agement of the affairs OF the eompanyf' --'2-s-
II would prefer to say nothing upon that
point. There is really no occasion to make
any statements in regard to President
Stroag's management or the causes of his re-
tirement."
sion as to the rumor of deals and collisions
| in the matter of State street real estate when
the Santa Fe under Gen. Strong's incumbency
| was fighting for entrance into ChlcagoF'
II would prefer to make no statement in
regard to those rumors. / will say, however,
| that the property the company has secured in
| Chicago is all very valuable. 1t is In the sec
ton of the city i'll the direction of which the
large retail business of Chicago is growing,
and it will necessarily increase in value"
HAS Mr.. Marvel ever been connected with
the Santa Fe System?"
HE has not, but he is a railroad man Of
known ability. He was however. at one
| time connected with the Chicago, Rock
Island and Pacific, and is well known. He
| stands high as railroad manager, and has
| the confidence of the Santa Fe owners i'll the
East So his coming here will Maturity add
| great deal to the strength and management
| of the organization"
! 1t is stated upon good authority that
| the resignation of A. G. Armstrong,
| purchasing agent of the Santa Fe sys-
| TEN, will also be accepted on Sept. 6.
! While Mr.. Magoun did not deny that
/ this would be done, he asked to be eX-
| cuSed from any expression on the sub
| ject of Mr.. Armstrong; retirement.
| President Strong was seen this after
| noon in his room at the Grand Pacific
| hotel. He admitted without hesitation
that he had resigned.
Il have been contemplating this step for
| some little time,'' he said asked to be re-
| lieved July IL, but the board Of directors
took no action GU my request, My formal
| resignation was rendered Aug. 10, to take eff
feet Sept. 6. l shall probably remain until
Sept g. as my successor will not be ready to
take charge of affairs until that date
who is to be your successor
ALLEN Marvel. who is now first vice preSl-
dent and general manager of the st. Paul.
Minneapolis d Manitoba road. He is the
| choice of the directors. and has accepted the
position"
Mr.. Strong declined to discuss the re-
lations between himself and the new
board of directors of tho Atchison.
He said 1t was matter of no public in
terest whether his views were in har-
mony with those of the board or not.
and he thought it was enough to know
that he had resigned. He also declined
to answer the question as to whether
his resignation was voluntary or not.