New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-05-31
HENRY WILLARD RESIGNS.
NO LONGER PRESIDENT OF THE NORTH
AMERICAN
c. W. wErMoRE CHOSEN TO SUCCEED HIM

C. W. wECMORE CHOSEN TO SUCCEED HIM
NORTHERN PACIFICs INTEREST.
The stockholders OF the North American Company
who are opposed TO the Willard management "''c
achieved victory almost without hrihs 'i'o'.
Henry Willard offered his resignation a pre'oe'
nd il has been accepted 10y the Board OF Directors
&. ". WetmOic, chairman Of the Executive 'o'n'"'c''
has been chosen To succeed Mr. Willard Mr.. "etmore
has been the managin director oil The North A'ner"'
Company for the last two years. ana II" j. supposed
TO represent Joh, ID. Rockefeller and his friends, or
what ia termed the standard Oh interests.
The anti Willard stockholders began to organize
about On DAYS ago They selected as committee to
sol,ci, proxi,, Thomas NJ. Waller, Ex-Governor Of
Connecticut: Henry Clews. William Mertens, OF |"
Won uodmann & Co., and cN-JudSe W. H. Arnonx
The annual meeting OF The stockholders VIII take
place o. June l5 when only three directors VIII
retire the bcasd being classified. Trouble was cX-
pect,d In securing the retirement OF Henry Willard
blu his voluntary withdrawal from the contest VIII
smpfy the work OF the stockholders committee. 1t
f. probable that one Other director associated with
Mr. Villa.d will be opposed for reelection. Ier7y
Clews said yesterday that he WIS not sufficiently
acquainted with Mr. Wetmorc, the now president 10
know whether he would he acceptable 10 the oppo-
sition stockholders. Mr.. Ccws was inclined TO thlnR
that now that Mr. Willard was out OF the way
COMPROMISE ticket would be arranged TO be voted al
the annual meeting.
The retirement Of Mr.. Willard will certainly lead
IN ,eductior of the Northern Pacific inter- ST In the
North American board. Ii T. suggested that repre-
sentative stakeholder and representatives OF the Gen
eral Eectric Company be elected to I'LL the three
places in the board made vacant by the expiration
OF terms OF service Mr.. Wetmorcs friends wish 10
direct the future policy Of the North American Com-
rany 10 the development OF electro enterprises
II has completed its extensive electric light plant ~
milwaukee, and also the electric street railway sys-
tenn OF that city Certain negotiations are SAID 10 oe
,n1ot cd
TO the company.
II rem,in, to be seen whether the company can
lac divorced f,om Northern Pacific Railroad politics.
Th. North American Company holds about 1oooo
.b.res % the common stock of the Northern Pacific
aod the men who are fighting Mr. Villard's influence
IN that property anxious TO secure this STOCK
aapinst Mr.. Wizards reelection 10 the NortherA
Pacific next October. As Mr.. Willard. however, has
al eady announced his intention TO refuse TO stand
for re-elcctio.. perhaps this point may not De so
significant in the negotiations concerning the North
American election in June. But the Northern Pacihc
stockholders are impatient at The delay Ill MI
Wizards retirement from that company, ana may
wish 10 secure the control Of the votes on the SIOUX
held by the North American Company, In order 10
he better prepared 10 resist Mr.. Nilards reeiecuoh
I'm case he should change his mind about retiring MI
Willard had promised to resign when the funding pan
~ the Northern Pacific successful, Dut tue
time go and yet Mr.. Wizard remains In the company.
Tic opposition stockholders are beginning 10 wohu.l
n The funding plan has met with AIRY mlch III ,ic
monear, stringency which prevails everywhere eA
Henry Willard was not In the city yesterday, nor
was Mr.. wetmore.