The morning news. [volume] (Savannah, Ga.) 1887-1900, 1892-02-15
PRESIDENT M'LEOD.
The Man at the Head of the Reading
Railroad Combination.

The Man at the Head of the Reading
Railroad Combination.
A st. Louis dispatch to the New York
Times says that Archibald A. Mcleod, the
president Of the Reading Railroad Com
pany, who is just now brought into promi-
nent notice by his remarkable combination,
which practically puts the anthracite coal
interests of the country under one manage
ment, has had very brief career. AS pres
ident OF the Reading railroad, he Is said to
have received the princely salary of $50, 900
per year. What amount of remuneration
he is to receive now, with the Poughkeepsie
Bridge, the Jersey Central and the Lehigh
Valley companies added to his duties, does
not appear. He has under his control em-
ployes to the number of something like
100000, and he is at the head of systems
whose gross receipts amount TO $50, 000, 900
annually, and yet in 1878 "Archie" Mo
Leod, as he was called at that time, Dor
rowed 500 at bank in Duluth, Mimi, for
the purpose OF buying a horse, which he
afterward drove around the streets of that
little city delivering mineral water, which
was made at a factory owned either in
whole or in part by himself.
1t is only fair to say, however, that
Archie" paid the note on maturity, and
that the soda water and sarsaparilla which
he manufactured was as good an article as
could be procured in Minnesota at that
time. Mr.. Mcleod went to Duluth in 1869
or 1870 as clerk in the bank of Gen.
George b. Sargent, who was connected
with Jay Cooke as English agent for tire
sale of Northern Pacific bonds. In 1871
Sargent's bank became the bank of E. w.
Clarke & Co., a branch of the Philadelphia
house Of that name, and intimately oon-
nected Jay Cookies ventures, Frank H
Clarke, the junior member OF the firm, be-
ing president of the Lake Superior and
Mississippi now st. Paul and Duluth) rail-
road.
Gen. Sargent moved to London, England
but left his family at Duluth, where he also
opened real estate office, under the firm
name of Sargent & McNair, McNair being
his son-in-law. Mcleod was a clerk in this
Office. He was single man at the time.
aud did not take very active part in the
social life of that place. He was looked on
by those who thought they knew him as a
rather active, SELF contained young fellow,
with industrious habits, but he gave no
special evidence Of the great ability he has
since been shown to possess.
Mr. Sargent died in 1872 and the bust
ness at Duluth did not prosper. In 1873
came the failure of Jay Cooke, and every
one who was able to get away from Duluth
did 30 promptly. Many of those who could
not get away, but who were compelled by
poverty or other reasons to remain, have
since been made rich by the wonderful de-
velopment of that city, which began some
ten years later. Mcleod was one of the
men who got away. The best thing that
he did during his residence at Duluth was to
WOO and wed Miss Libbie Atkins, the
daughter of Barton Atkins, captain Of the
lake steamer Metropolis.
At this time, if Mcleod had any money
no one knew it but himself. He went to
Colorado and became interested in a silver
mine there, which he sfterward sold, with
the assistance of Austin Corbin. Mr.. Cor.
bin had succeeded to the position made va
cant by the death of Gen. Sargent in Eng
land as Mr.. Cookies representative there.
and it is presumed that McLeods intelligent
assistance 10 winding up Gen. Sargent's
affairs brought him Into favorable notice
with Mr.. Corbin. AT any rate, the Colo
RADIO mine was successfully placed by Cor
bins assistance, and Archie Mcleod was
next heard of as general manager of the
Elmira, Cortland and Northern railroad,
where he was placed by Corbin. who was at
that time president Of the Reading road,
When Mr.. Corbin afterward left the Read
ing road, Mr.. Mcleod succeeded him as
president.