The Portland daily press., 1893-10-13
BOSTON & MAINE.
What the Change in Directors Is Said To
Have Meant.

A PRESS reporter was conversing with
a prominent citizen yesterday, who is
probably as well informed IN railroad
matters as anyone in Portland, and asked
him if he could explain the dropping OF
Messrs. Jones, Sinclair and Sewall from
the Boston d Maine directory.
The gentleman said it was doubtless
intended as punishment for the part they
took in the Reading deal, which resulted
in the election of Mr.. Mcleod as presi-
dent of the road Mr.. Sinclair, he said,
was the schemer, and he was supported in
the scheme by his father-in-law and Mr.
Sewall. Now, other interests, the Pull
man and American Express Company,
are in the ascendancy with the parties
who were opposed to the Reading deal.
Upon being asked if he thought this
overturn would result in change in the
Maine Central at the annual meeting, he
replied not in his opinion. Mr.. Sewall
will be reelected president, and there
will probably be only few minor
CldltSCcg Will ILLS CACCpOiOA. U1ldU
,Messrs. Sinclair and Paul will probably
be dropped from the Maine Central di-
rectory, Sinclair for the hand he had in
the Mcleod business, and Paul on ac-
count of his age. Mr.. Paul is an excel
lent man, but rather too advanced for
active work as railroad director. AS
far as the Maine Central road is con-
cerned, the Boston & Maine has never
attempted to interfere in its manage
ment. At one time there was some leg
islation suggested that might in the flu
ture have proved injurious to Maine in
terests, and it consequently did not go
through, but as rule the Boston &
Maine directors who are directors in
the Maine Central, have felt that the
Maine directors of the Maine Central
knew what was best for their road, and
have often failed to attend meetings Of
the Maine Central on that account.
Yesterdays Boston Journals financial
article says: 'With the collapse of the
Reading deal, the stock which had been
acquired in the interests of that road fell
into the hands of the American Express
Company and of B. P. Cheney, while
William C. Whitney, who had been on
the board, resigned, and L. G. Ledyard
of New York, attorney for the express
company, stepped into the vacancy.
Thus this sale of stock by the Jones'
Sinclair crowd introduced into the coun-
ellis of the road four distinct and definite
factions. These were the Jones Sinclair
and Lawrence parties, which were al
ready in the board, and the Pullman and
the American Express Company parties,
the fruit of Mr.. Jones's deal with Mr..
Mcleod. Yesterdays meeting was sim
ply the evidence that the last three unit
ed and ousted the faction hitherto in
charge. Opportunity, to be sure, was
given Mr.. Jones to remain on the board,
but the overturn was nevertheless a de-
feat for those who have been in manage
ment of the property
President futile, of the Boston d
Maine, in an interview, spoke very pleas
antly of the directors who have gone out
He doesn't believe any good employe
will be removed, and says he shall try
and keep the road up to a high standard.
There are 1877, $50 shares of Boston &
Maine common and 81 400 shares of Bos-
ton & Maine preferred, a total of 219,s70
voting shares. The Jones-Sinclalr party
represents, it is understood, about $4,000
shares; the American Express Company
has "a, 900 shares, formerly represented
by Mr.. Mcleod, as it recently purchased
the 5000 shares on which it had bought
the proxies; General Lawrence repre-
sents about 20, 900 shares, and George M.
Pullman and Henry R. Reed about 10000
shares. The Jones party asked repre-
sentation of two men for their $4,000
shares, but this being denied, Mr.. Jones
declined to serve alone.
wwra n