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
q Lie.

= CHICAGO, Aug. E.-Ine reOrganlZa-
tion of the Atchison, Topeka d Santa
Fe Railway company today 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
read. George c. Magoun, chairman OF
the Santa Fe board of directors, and
William Libby, member of this body.
were some time ago appointed 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 in this city on Monday, Sept. 9.
What other changes have you determined
upon?"
that date. There are now 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
&C. w. Smith"
1T is stated that you have decided to liqui-
date all Indebtedness by assuming blanket
mortgage to cover the whole systemg'
Il wish to state, in regard to that matter,
that no funding scheme has yet been deter
i ,.,sn 10 TDr
time The present control have looked for
ward to largely increased earnings with
view of ascertaining the proper basis for ac-
ton. The construction of the new lines
was practically not completed until q late
date, so that really no opportunity has been
presented of determining just exactly what
the property, as an, entirety, can do And
Z 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.
- "IIave you anything to say in regard-to
President strong's management or IaisInan-
agement of the affairs of the company -.=--i;
II would prefer to say nothing upon that
point, There is really no occasion to make
any statements in regard to President
Strongs management or the causes OF his re-
tirement." ~
HAS your committee come to any conclu-
sion as to the rumor of deals and collus.ons
in the matter of State street real estate when
the Santa Fe under Gen. Strong's sincumbency
was fighting for entrance into Chicago5"
II would prefer to make no statement in
regard to those runors. 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 yalue''
HAS Mr.. Marvel ever been connected with
the Santa Fe System?n
'.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 we'll known. He
stands high as a railroad manager and has
the confidence of the Santa Fe owners in the
East. So his coming here will naturally add
a great deal to the strength and management
of the organizations"
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 SUBJ
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.
81 have been contemplating this step for
some little time,'' he said. asked to be re-
heyed July H. but the board Of directors
resignation was rendered Aug. 16, to take eff
feet Sept. 6. shall probably remain until
Sept 8. 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 presi-
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.