New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-12-19
THURSDAY,
DECEMBER 10, 1895.
PRESIDENT MAYER RETIRES.
OPPOSED BY THE NEW BALTIMORE AND
OHIO DIRECTORS.
HE HAS SERVED FOR SEVEN YEARS AZ CHIEF
EXECUTIVE OFFICER or THE RoAD-His
.,-,,.,gox, >or W.T. fuosES

HE HAS SERVED FOR SEVEN YEARS As CHIEF
EXECUTIVE OFFICER or THE RoAD-HTs
SUCCESSOR NOT YET CHOSEN.
R,l,imor. Dec s-charles F. Mayer will retire
from the presidency OF the Baltimore and ONO fai
road Company within sixty days. 1t s believed M
successor will be named before the meeting OF '"s
directors next month. All the members OF the re-
Gently elected Board Of Directors OF the company
except General Louis Fitzgerald. OF New-fork'
were present at a meeting, held In the Central Buu-
Ing to-day. AS as 1t was called to oroer f's''
ident Mayer arose and said -.
This meeting OF the Board. the first after tns
stockholders annual election OF directors u Ia.
one at which 1t Is 10 elect PRESIDENT io'
the ensuing year / cam, into the service IN De-
cember 1885, when the condition of the properly wa.
most unsatisfactory because IT was thought cou'a
benefit IT, and for this same reason have remalheo
here since the close Of 1885, the period na' io"e
fixed for my retirement. desire now TO carry o''
that intention and TO retire from the service Oh ''
company am therefore, gentlemen. not cand''
date for reelection. In taking leave OF you sehue-
men, beg to say heartily thank those VINO were
members of the Board during my administration ZOE
the agreeable and cordial relations so long existing
between US" 49,
Immediately after making these remarks 'i''
MAYER retired The announcement OF his with-
drawal was accepted. accompanied with tne u'a-
mous request Of the Board that he should refna'"
In office until the Board should have an opportunity
OF choosing his successor.
The announcement OF Mr. Mayors intention 10
retire created little surprise Since the annual nv
ing of the stockholders last month the newy
elected directors representing New toik anu ~
elgn shareholders, said 10 have Deeh OpPo.YInns
the sentiment favorable TO Mr. Mayors retenuo.,
The argument was freely used that. unless an
acceptable successor TO President Mayer was eecteo'
the New-York and London contingent would mere
after withhold its financial support from the faI,.
more and Ohio Company. As II may De hecessaty
for the company to borrow some money 70 nese
accruing interest charges and other DIS cary ~
the new year, this statement had great welSn, anu
was effective in arraying majority or tne dlrec'y
against the proposition TO retain Mr. Mayer III 'ne
executive chair. A., TAT,
When the directors met this morning the md
cations pointed strongly to the election OF VICE
New-Yorkers decided az the last moment 70 wais
a while and their views were coIncided IN py lhe
other members of the Board. 49,,
Mr. MAYER succeeded to the presidency OF tnc
Baltimore and Ohio Company upon the retrenlien'
OF Samuel Spencer years ago. HIS appoint
ment was due to the influence or the Iarrett IN.
terosts He was not practical railroad man. pus
was regarded as a careful tnancier Several names
are mentioned in connection with the vacancy:
Among them are Alexander SHAW. chairman .o OK
the Finance Committee Thomas King, second vice
president; Milton II. Smith. president OF the Louis
Vile and Nashville. and General Louis Fitzgerald.
president Of the Mercantile Trust Company, or New
York. -.
The board Of directors confirmed the action or
the Finance Committee as TO the payment OF the
customary dividend OF per cent. on the preferred
stock of the company for the half year ending De-
cember 81. These dividends are payable January