New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-04-10
CHANGES IN THE READINGS DIRECTORY.
THREE MEMBERS REsIGN-rHmR SUCCESSORS

THREE MEMBERS RESIGN-THEIR SUCCESS RS-
MR.. coRBIN's STRENGTH.
Philadelphia, April 0.-At the meeting Of the Read
ing Board of Manager, to-day Messrs George 7.
Baer, stephen \. Caldwell AID samuel shipley
resigned. and Thomas Dolan. Henry &. Gibson and
~ ~ Mcleod vicc-president and general manager,
were elected to ill the vacancies. This wholly
surprising, and if TO leave Mr. Corbln stronger
than ever before. 1t not decided upon until
late yesterday. This not the plan al nrst pro-
posed but those who first asked to resign
fused To do II Is said and that made this change
Necessary, "a there is method Of forcing re,iena
tions, and there wa desire 10 90 extremes.
Mr. Haer will continue his confidential relations a.
counsel, and manager of the Reading Iron Works,
and Mr.. shpley and Mr.. Caldwell will not rclinqui>i
their active interest in the road.
1t seems more likely than ever that the fifth
member OF the Voting Trust will be Henry c. Gibson.
MI 'orbin will continue president, despite all
rumors to the contrary. and despite the apparent
significance Of Mr.. McLcod~ election director,
until the expiration OF The Voting Trust. He has
all along said that lie wanted only five years. but
from present indications it i t. be believed that II
he shall change his mind he Will be elected. There
are some who argue that the present compromise Is
only truce; but IT does not probable that Mr..
Corbin would have made a compromise that is only
temporary. A. Mr.. Gibson and Mr. Caldwell uphold
new party by the election OF the former, and the
resignation OF the latter. Mr.. D0lan Is practically
their only representatives. and MI Corbin it is believed.
has frmer elip on the management than ever The
hght which eliminated today has been interesting,
but IL has never been consistently explained be-
cause those most interested cOntcntcd themselves
with denying instead of making statements.
Mr.. ~hpicy, in his letter resignation, The
step that We have taken to bring about restoration
OF confidence between important body Of share
holders and the Board Of Management has my hearty
approval. While it Is a matter Of regret to 10
sever a connection which has been uniformly pleas
ant, am glad 10 give place 10 the gentleman who viii
succeed me, If by 80 doing the litigation which has
been scrlous menace 10 the prosperity Of your prop
erty can be erdcd'
Mr.. Bacr write, " am the youngest manager, both
III age ana service and 1t j. therefore proper that
should be- the first to resign to enable you To comply
with the request of certain stockholders to have
Mr.. Caldwels letter reads " Ii has been suggested
to me that for various i desirable that Mr..
Mcleod. vice president and general manager. should
have seat in the Board Of Managers. | heartily con
cur III this view. and think II would be for the best IN
terc>s of the company that he should be in the Board
and to accomplish this result oheerfully tender my
resignation
Al the conclusion Of the meeting Of the Board of
Managers Of the railroad company the Reading Coal
and Iron Company managers came together. McS>r>.
Corbin and ficv withdrew from the Board. and
McSsrs. Doan and Gibson elected in their
places.