The comet. (Johnson City, Tenn.) 1884-1916, 1892-12-15
UPON 4 AEV Plan.
Reorganization of the Fl
nance Company of
Philadelphia.
Bright Prospects for the Company
Which Controls the Three C's.

That the projectors of the Three C's
Railway are not all dead, and that
they intend to do something in the
near future is now an assured fact. A
meeting of the Finance Company was
held in Philadelphia last Wednesday.
For some time past it has been an
open secret in financial circles that a
movement was on foot for reorgani-
cation of the Finance Company of
Pennsylvania, which became fnan-
cially embarrassed during the panic of
1890. Since that time the energies of
the management have been expended
in reducing the company's indebted
ness, and the company has not eu-
gagged in any new undertakings.
A number of the stockholders, hay
ing faith in the company's future, have
OF late been endeavoring to effect re-
organization on basis which would
permit OF the company's engaging
more actively in business. 0vertures
were made by them to Mr.. George H.
Earle, with view to his accepting
the presidency of the company, vice
Mr.. George W. Babon, who only took
the position temporarily when the
company was in difficulties, and who
is anxious to be relieved by some one
with more time to devote to it's affairs.
Mr.. Earle, who is at present Vice
President Of the Pennsylvania Ware
housing Company, finally determined
to accept the offer, and at meeting
OF the Directors OF the Financ Com
pany held this afternoon, he was
chosen one of their number in place of
John II. Converse, resigned.
: His accession to the Presidency will
, follow on Wednesday next, when Mr..
Blabon's formal resignation will be
! rendered. 1t is understood that Mr..
! Earle will relInquish his official posi-
ton in the Guarantee Company, but
that he will retain the Presidency Of
the Warehouse Company.
Nothing has as yet transpired with
regard to the scheme for reorganiza-
ton of the Finance Company, but it is
understood that the new President
has some very clearly defined views
!. upon the subject, and that the BOARD
of Directors are prepared to cooperate
4 with him.
i. The Finance company OF Pennsyl-
d vania was organized by Wharton Bark
er. who was its President at the time
of the failure of Barker Brothers l.
9 Co., which led to the discovery that
: the Company was to some extent en-
If barrassed through injudicious invest
= ments. Mr.. Barker at once resigned,
= and was succeeded temporarily by
r, Mr.. Chorlemange Tower, Jr.
+ Latter Mr.. Blabon was induced TO
le accept the Presidency, and straighten
to out the tangle into which the Com
Or pany's affairs had fallen, but he did
so with the understanding that he
1t should eventually be succeeded by
IT SEINE one with more time at his dis
v posal.
1T The next President, Mr.. Earle, has
re had q thorough practical fnancier
/" training. In 1888 he was elected
N Vlce-President OF the WarehOusing
he Company, and two years later he be-
. came President, succeeding Richard
]. Y. Cook, who resigned to accept the
a Presidency of the Guarantee Trust
n. Company. Mr.. Earle was at the same
d. time elected Vice. President of the
lg Guarantee, and in the management OF
es both institutions he has achieved for
IL himself an enviable reputation for SO
el young man.
to Although no definite announcement
ID has been made with regard to the re.
le organization Of the Finance Company
at it is known that consolidation, and
I'd ID 10 said that reduction OF the CAPT.
OF tai is in contemplation. The COM
's- pany possesses some very valuable as.
10 sets, including large block of Balti.
ee more and Ohio stock, and its less
I'd profitable investments, such as the Sc
he curities of the famous "Three C's'
a. line in the South, are moro promising
be than a. any time since the company
10 was first found to be in difficulties.
Re The company hope to be in shape
is by the coming spring to complete the
&c Three C's Railway as projected, when
it will become one Of the most valua-
a. BILE railway properties in the country.
~ - -
es Election Of officers.