Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1891-05-23
WILL BUILD MORE ROADS.
So Say the Directors of the Missouri, Kan
sas and Texas.

The following special dispatch to the
Globe-Democrat from Parsons, Kan, gives
i more complete statement of the proceed
ings of the annual meeting of the Missouri,
Kansas and Texas than has yet been pub
liShed:
The annual meeting of the stockholders
of the Missouri, Kansas and Texas railway
company was held in this city to-day. Re
ceiver Cross called the meeting to order
and Simon Sterne of New York was made
chairman, and Director Lee Clark of this
city secretary. Out of a total of 594, $50
shares. 532 6:S4 shares of stock were repre-
scented, Simon Sterne having proxies for
seven-tenths of the entire capital stock.
The old board of directors were reelected
with the exception of H. K. Enos, lately
deceased, whose place was filled by John
D. Rockefeller The following directors
were elected: John D. Rockefeller, New
York; William Dowd, New York; Joel F..
Freeman, East Grange, \. Y: II. w. Poor,
New York: William Bond, New
York; Simon Sterne, New York;
j. j. De Neufville, New York; Samuel
Sloane. New York; Col Gate Hoyt, New
York: Maynard G. Eyre, New York; H j.
Demarese Owens, Amsterdam, Holland; H.
G. Cross, Emporia; B. p Mcdonald, Fort
Scott; Lee Clark, Parsons; James c.
Thompson, Sedalia; j. Waldo, Houston,
Tex
The board of directors submitted a vol
luminous report, which was adopted. Among
other things the report showed that
within the last year marked success has at
tended the financial operation of the board
in conjunction with the committee ap-
pointed by them, known as the Olcott COM
mittee, to liquidate and adjust the indebt-
edneSS of the corporation. to diminish the
annual interest charge. and that they had
succeeded in placing the road in position
receiverShip, and to turn its property over
10 the management of the stockholders and
their board of directors, which in all prob
ability will take place within a month.
The report Il $50 showed that in place of the
badly crippled property as it existed when
the receivers took charge, the road now has
property which from end to end is in an ex-
cellent operative condition as to Sub-struct-
ure, with Il greatly improved condition of
the old equipment and a largely increased
new equipment. Since the Missouri Pacific
lease terminated there have been added
%, $50 freight ears, forty-seven locomotives,
seventeen passenger cars and twenty ca
bosses. In addition thereto the road has
been in considerable part ballaSted; con-
siderable portion of the road has been
fenced; stations, depots and freighthouses
have been erected and new stations estdb-
liShed and the present switches and stations
greatly increased, and they have in opera
tion by lease and actual construction about
207 miles of additional road, of which sixty
seven miles were actually constructed by
the receiN ers, 400 miles of new steel rails
have been laid and a large portion of the
road re-tied. and the general efficiency of
the road and capacity for business is now
second to none in the Southwest.
a number of important resolutions were
adopted, among which was 4 resolution
authorizing the board of directors TO con-
struct 300 miles of new road, exclusive of
terminal facilities, in the coming year.
The directors meeting for the election of
officers will be held in New York on June 4.