The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1893-12-22
SANTAFE RecElvERsHIP TALK.

NEW YORK, Dec 2l-George c. Magoun
of Barring, Magoun & Co., died at 9:l5
o'clock last night OF a complication of kid
ney diseases.
The World this morning says: "With
the close of the year the affairs OF the
Atchison, Topeka and Sauta Fe railroad
company have approached critical stage,
and, with the papers all drawn for that
purpose, an hours work may see the sys-
tenn follow the example of SO many great
lines in the near past, in slipping away
from assaults of pressing creditors behind
the wing of court, with friendly receiv-
ers in charge. The death of Banker
George &. Magoun last night will prob
ably determine that result. The fate Of
the road hangs on the decision of the for
eign security holders, aud their interests
are concentrated n the English house of
Barring, represented on this side by Bar
ing, Magoun & Co. Thomas Barring is
the head Of the firm. but George Z. Ma
goun was long the head of the American
house. There will be meeting of the
board of directors in Boston on Saturday,
and it is expected that some step Will be
taken about the interest due on January
l on the $3.50 000, 600 OF general mortgage
bonds. Ii, as understood, this interest
was to be made up. in addition to money
carried, from cash TO be advanced by the
Barings, it was not considered unlikely
that they would decline to advance any
further funds unless assured that Mr..
Magoun would be able to supervise the fl
nancial policy of the road In the future
as in the past"
! When General Counsel j. ]. McCook Of
the Atchison was asked concerning the
rumors Of receivershp for the system he
said: Il haye not heard of any such step,
und think | should have heard If 1t had
been taken"
OF the company said to an Associated Press
reporter: ''Ot course there may be rea-
| sons which might render the appointment
OF Il receiver necessary, concerning which
| have no knowledge, but l believe the
| company has been in as good financial
condition as could he expected during
| the present general financial stringency,
| and that it will be able to meet all its OBJ
| legations. | have heard rumors OF II re-
ceiver's being appointed on account of the
| death OF Mr.. Magoun and the possible
| failure Co meet the January interest, bat,
| as far as l know there is nothing in it"
! Boston, Dec. 2l.-When seen by an As
sociated Press representative today in re-
gard to the possible effect OF the death of
Mr.: Magoun on the Santa Fe. r. A. Pea-
body of kidder, Peabody & Co. said: Il
do not know what the effect VIII be, but
the road is in a splendid physical condi-
tion. At the head of every department
there is a strong man; so cannot see that
there will be need of any reorganization" ="
TOPEKA, kaD., Dec 2l.-It is not believed
| by the Atchison, Topeka and Santa Re
officials here that the death of George {.
| Magoun will affect the company's material
interests or Change its policy. Mr.. Magoun
was chairman OF what is known as the ex-
ecutive board. This board was created
some years since. when the Barings OF
London furnished money for the company s
reorganis isation, and they chose Magoun to
represent them. When the Barings failed
their interests passed into other hands of
| course, but no change was made in the
trust, and Mr. Magoun continued to vote
that stock, which, with some proxies Sc
cured from other sources, enabled him to
control the policy and management Of the
road 1t was Mr.. Magoun who selected
| Mr.. Relnhart for the presidency of the
| road when President Marvel died last
spring. Soon after this Mr.. Magoun fell
| i'll with the malady that has ended his life,
| and he entrusted President Reinhart with
| the entire direction Of the company )
| affairs. This management was satisfactory
| to the foreign ockhoiders represe by
| Mr.. Magoun, and it is probable that il Will
| continue.