New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-02-24
LAST DAY AND EVENING
q. BUT ONE
OF THE eGTH ANNUAL EXHIBITION OF THE
AMERICAN WATER COLOR SOCIETY
AT THE
ACADEMY OF DESIGN 23D.ST. e. 4TH.AVE
ADMISSION % CENTS
spent some Of the happest days Of his successful

spent some Of the happIest days OF his successful
life.
Among his most remarkable achievements In bust
ness life Is the administration OF the Jayne estate
Old DR.. Jayne, Of proprietary medicine fame' bcor'
he died, twenty FIVE thirty years ago. appointed the
Judge his executor. The business and properly mas
been managed by him ever since and so well manage
thad millions Of dollars I'M profits have been mace oi
the heirs. II is said TO be the most remarkable III
stance on record In the way OF successful management
by an executor. In addition 10 this, the Judge has
large railroad Interests, Is wealthy, has been lor year
one Of Mr.. Drcxels most intimate friends and has INC
confidence OF the strongest element In the hhahcia
community. Because II was generally felt py thi'
element TINT he the Ideal man for the trying posi-
ton he was selected instead OF Postmas'er'"eheia
wanamokcr whose friends made an earnest canvass In
his beholf for this place lie Is the central figure OF
the rcceivership and this. his friends say, VIII be
demonstrated 10 the satisfaction or dissatisfaction OF
all concerned within a few days or weeks Here Is 'he
way one Of these gentlemen talked today
This receivcrship Is not going TO be such 'cn,-
porary affair rs Of the newspapers would make
it appear. II IL going 20 last long time-noh'hs'
yes years. Those reports about immediate reorganza
ton are all premature reorganization may 20
effected but not for time, not until one clear
headed man has made an Investigation ana arriVcu a'
a thorough, definite understanding regarding every
dollars worth Of Readings property and Indebtedness
l refer to Judge Paxson. lie IL going through inc
whole business, and until he has finished his work
there will be retirement OF income bonds or Issuance
Of preferred stock in exchange for them or anything
else judge Paxson is in command tell you. ana
people will say so before another month. Mr. Nc
Leod will continue TO manage the rairoadine OF hFu
Ing and Mr.. Wilbur will do the same for the LehiSh
Valley, for they are both capital managers but uo
man who is going to untangle Readings finances, IL
they can be untanglcd and devise plans of rorsan-
izatIon and then carry ont these plans IL Judge Xson
Friends of ex President Mcleod, however, do not
admit for n moment the inference which these re-
marks suggest that he Is not longer in the saddle
He Is still In control OF Reading, they assert and
what is more the action of Mr. Parsons and his friends
to-day in Boston shows he will capture the New
England Railroad at the March meeting as sure ms
fate Said one OF Mr.. McLcOd's friends on this point
New England Is ours. and noIpng can prevent Mr.
McLeods election as Mr. Parsons's successor. There
is no doubt on this point. Mr.. McLeod's New-iork
friends are standing firmly by him. They believe in
him still and think that his defeat is only an Incl
dental experience on his onward march to ultimate
victory. When he captures New England, as he will.
the tide will turn in his favor. 1t doesn't Why
the last time was In New-York, Mr.. WormSsr, who
ought to know whereof he speaks. told that Mcleod
was one OF the ab,est railroad men he ever met
1t officially announced by the Reading receivers
that the pay cars containing the overdue wages OF
the employees were sent out today. and the dls'r-
button OF the money would be completed at once.
officials of the Lehgh Valley Company deny the
report that this road has suffered since IT has been
In Readings hands. The stock rose here this morn
ng on purchases for Investment TO 50. but the boJ;
hammered 1t down again to As: from which It rallied
to ~ "a. The rumor that the rental paid by the
Reading TO the Lehgh Valley would be sealed down
the Lehgh directors TO the proposition It was re-
ported has been secured II any Sach stGp !; con
Il matter for conjecture.