The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1893-05-24
Mcleod STEPS OUT.
Frank Jenes May Be President Of
the Maine Again.
VICE PRESIDENT NIVER LIKELY
TO FOLLOW HIS CHIEF.


Gould Not Garry Out His Plans for the
Boston and Maine Since His Retire.
ment from the Reading Presidency
New England Directors Accepted the
Resignation.
BOSTON, Mass, May pa. A. Nc
Leod is out of the Boston & Maine. He
resigned the presidency of that corpora
ton at directors meeting this fore
noon, and it was unanimously accepted.
Only one more than quorum of the
board was present at the meeting and
the New England element in the direc-
tory had the privilege of passing the
vote that made the Office of president of
the Boston & Maine vacant. Those
present were: Chairman Frank Jones
and Messrs. Kicker, Sinclair, Sulloway,
Hunnewell, Hart, White, Sewall, Blood
and Reed. Attorney General Olney
could not leave Washington. DR.. Webb
never attends the directors meetings.
Messrs. Hayden, Lawrence and Whitney
are in Ceicago, and Nh. Pullman is not
in New England.
No successor to Mr.. Mcleod was cho-
sen, probably ON account of the small
number of directors present, but it is
understood that the question of success
sion was discussed.
Frank. Johes, who has been the presi-
dent de facto during the Mcleod re-
gime, lis naturally one of the first thought
of among the probabilities for elevation
to his former office.
| ~ hot ho will no fo6 fn ia
old position is question, but at the
meeting today he did not receive the
honor.
After the meeting he quickly denied
all insinuations and inuendoes put for
ward that he had been elected.
Il have not been elected president of
the Boston & Maine Railroad" said the
chairman of the board of directors, ''and
do not wish that impression to go out.
There was no vote taken on the question
of success Or"
This action today means, besides the
exit of Mr.. Mcleod, the severing of
Vice President w. K. Niver's connection
with the system.
MI. Niver was appointed through Mr..
Mcleod to look out for his interests and
to manage the Boston & Maine road bus
mess, particularly in the interest of the
the western business of these roads ac-
cording to the plan formulated by Nc
Leod at the time of the amalgamation
| last December.
Mr.. Niver was not in attendance at the
meeting, nor was he at the station at all
| during or after the meeting.
His Office in the Lowell station adjoins
the presidents and directors rooms, aud
the entrance to these offices is through
his room.
He was in the Office during the early
| forenoon, but as the hour of the direct
ors' meeting drew near he put on his hat,
shut up his desk and went up town. He
did not care to talk before he left, as he
| said he was not member of the board
of directors.
President Mcleod, in his letter of res
| ignation says he accepted the Office of
| President representing the interest of the
| Reading Railroad in the Boston & Maine.
| He says he contemplated traffic arrange
ments between the twolcompanies which
would be mutually advantageous; but
since he is not now officially connected
with the Reading Railroad Company and
the Reading has parted with it's holdings
of Boston & Maine stock, it will be i'm
possible for him to carry out his plans,
and he therefore presents his resigna-
ton.
After Mr.. Jones concluded the reading
of Mr.. McLeod's lletter, his son-in-law,
Director Sinclair, arose, and according to
certain information, read long, explain.
atory statement, presumably from Mr..
Mcleod. What it contained is not known
and cannot be learned, but it is undoubt-
edly statement drawn up and dictated
| by the conference between the reader and
| the ex-president at New York.
| tits understood that the letter and
statement will not be made public until
after the next directors meeting.