The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1895-08-01
AcoMPLETE CHANGE OF POLICY.
Ihero May Be Consolidation of the
''a1is and a Laying Off of Trains.

Sir Charles Rivers Wilson, the new
president of the Grand Trunk, is expected
as Will De seen from the following from
montreal to make changes, and some very
radical changes at that in the manage
menu OF the road. AS matter OF fact
olr Hehry Tyler was retired because The
stockholders felt that an immediate
change must be made.
AS Will be seen, many changes Will be
mace IN trains. This will hardly effect
the trains on this division, at least not
Iof some time to come. 1t is thought that
inc machine shops may be removed from
7orham, N. H., to this city, making
consolidation of the shops here. A strong
effort Is to be made to secure more bust
ness, and it is thought that it will take
the form of an attempt to get more
through freight from the West There
VIII hardly be many changes on this
division, but there will probably be an
attempt to secure more business for the
road The latest from Montreal is as fol-
lows: Sir Charles Rivers Wilson, the
new president Of the Grand Trunk rail
way, will arrive in this city on Saturday,
August 18th. 1t has not been definitely
decided whether any of the new board
will accompany Sir Charles on his tour
OF inspection over the Grand Trunk sys-
TEN.
1t has been arranged that Mr.. Joseph
Price, the new vice president, will join
the president in Montreal week after
the formers arrival here
The new platform arranged by the rev
board, it is said, will be as follows: The
amalgamation of clerical and working
stalls; cultivation of local traffic and the
ourtailment of capital expenditures; an
exhaustive enquiry into the resources of
the Whole system; an arrangement for
better working treaties with other rail-
way companies; vigorous canvassing for
local traffic Some method for the cutting
down of superfuous trains will be pre-
pared.
The question of a Canadian board is to
be again taken into consideration, whose
duty 1T will be to dispose of all minor
matters.
4At. cOsopd ETlCe, UI6 VlC6 pr6Slu6nU,
will, it is said, suggest the formation of
a depreciation fund for the rolling stock
lent to the Chicago and Grand Trunk
railway, so that provision may be made
for prospective claims
1t Is thought that not only will there be
a reduction in the clerical and working
statfs, but general reduction in wages
will take place.
The new directors have been authorized
to borrow and raise by the creation and
issue OF Grand Trunk consolidated four
per cent debenture stock such further
sum, or sums, not xceeding the amount
which the company is authorized to
borrow as they from time to time think
fit.
Sir Charles Rivers Wilson has been a
controller of the national debt, govern
ment director on the Suez Canal, and is
the reorganizer of Egyptian finance, and
spent four months in the reorganization
Of the affairs of the Central Pacific and
its affiliated lines. He is considered a
financial genius and man who is
system like the Grand Trunk, and bring
it into sound and healthy conditio n.
Another important question that is re-
ceiving the careful attention of the new
president is the transfer of the accounts
from Canada to London, England Some
years ago 1T was suggested that the
accounts of the Grand Trunk railway
should be kept in England e., to this
extent, the capital account in the London
books, a nd kept there entirely The
working accounts to be kept here and
afterwards sent over to England to make
up the balance sheet The administration
officers will be consulted on this matter
just as soon as the new president arrives.