Baxter Springs news. [volume] (Baxter Springs, Kan.) 1882-1919, 1893-12-23
MAGOUN DEAD.
The Financial Head Of the Santa Fe
Passes Away.
WAS DUE TO DIABETES.
ing His Death-It Is Not Believed
That IL VIII Affect Anything.
His Fatal Sickness BE-
ing Known for
some Time


NEW YORK, Dec. 2l.-Gcorge c. Ma
goun, of the great banking firm OF
l:aring, Magoun & Co., and the finan-
e al head of the Santa Fee railroad sys-
Jem, died ut $50 o'clock last night at
ais home, SO West Fifty-fourth street.
Mr.. Magoun had not been we'll for
several years, but was startled few
years ago when life insurance COM
nany refused to take his risk, the med
ical examination then showing that he
was suffering from incipient diabetes
lie was advised by his physicians
10 drop his business and take a
long vacation in Europe. This
ne did and returned greatly i'm
.roved. He was taken i'll again few
weeks ago, but was thought to be get
ting better.
The funeral services will take place
Friday afternoon Mt the house. The
burial will be in Mount Auburn ceme-
terry. Cambridge, Mass
The World this morning says OF the
proba BILE effects of Mr. Magoun's death
on the great Atchisan. Topeka & Santa
lie system:
With the close OF the year the affairs OF the
Atchison, Topeka & Santa Fe Raj. road 20
have approached critical stage. and with the
papers all drawn for that purpose IN hours
work may see the system follow the example
pf SO many great lines In the near past In slip
ping away from the assaults OF pressing credit
ors behind the wing Of court with frienily
receivers In charge. The death OF Banker
George c. Magoun last night will probably de-
termine that result The fate OF the road hangs
On the decision OF the foreign security holders
and their interests are concentrated In the En-
glish house Of the Baring< represe ted on this
side by Barring. Magoun & Co.
This Barring is the head OF the firm. but
George Magoun was long the head OF the
American house. His knowledge Of the finances
of the Atchison system has been most thorough
II Is in his once that President Reinhart
with Mr.. Magoun by his side. decided upon oil
the financial questions rs they arose in the
concuct OF this enormous corporation, with It's
more than $3.50. 1000 liabilities outstanding.
With Mr.. Magoun II charge the home hrm OF
the Earrings felt that their int rests In Atchtson
we're we'll protected and on his advice In ncial
help has flowed In u verv steady stream from
English Golfers into Atchison's bank account
There will be q meeting OF the board OF d.
rectors in Boston. where he main financial Of
ice OF the company 10 located, on Saturday,
and II is expected that some step will then he
taken about the interest due January on the
sisO,0oJ 900 Of general mortgage bonds II. as
uudersto this interest wAs to be made up. In
addition TO the money carried from cash to be
advanced by the Earrings, II was not considered
unlikely that theg would decline to advance
any fu ther funds unless they were assured
that Mr.. Magoun would be able 10 supervise
The financial policy OF the road In the future as
m the past
The death Of George c. Magoun has
not had any appreciable effect upon
the value of the stock OF the company,
upon which q bear market has been
very steadily held. The stock opened
at l7h, decline of \ from last night,
but reacted to the opening figure.
Santa Fe class "A" advanced 3 to SS,
receded to 35 and rallied to S5A. The
As declined IN to SO and reacted to
Gss. There is nothing in these figures
to show any great excitement among
the security holders or very great de-
sire on the part of the short interest to
raid the securities.
When General Counsel j. j. McCook,
of the Atchison, Topeka & Santa Fe,
was asked concerning rumors of re-
ownership for the system he said: Il
have not heard of any such step and
think should have heard it If it had
been taken"
NO GREAT CHANGES PROBABLE.
Topeka, Kan, Dec. 2l.---It is not be-
lieved by the Atchison, Topeka & Santa
Fe officials here that the death of Mr.
Magoun will affect the company's ma
terial interests or change its policy.
Mr.. Magoun was chairman of what is
known as the executive board" 1t
was he who selected j. W. Reinhart for
the presidency of the company when
President Marvel died last spring. Soon
after this he fell i'll with the malady
which finally destroyed his life, and he
intrusted Mr.. Reinhart with the entire
direction of the company's affairs. This
arrangement was satisfactory to the
foreign stockholders represented by
Mr.. Magoun, and it is probable that it
will continue.
Mr.. Magoun's death was not unex.
pected. II had been known for some
time that his condition was very seri-
Gus and would terminate fatally. 1t
was on account of his illness that he
was not present at the annual meeting
here in October.
A Voice from the Gallery.