Evening star., 1896-01-20
coNEN NAY BE PRESIDENT
The Congressman Talked Of as the Head
Of the B and O.
Possible Adoption of the Double.
of the. Company.

The news sent out from New York Sat-
urday night that a rumor prevailed there
in railroad and banking circles that all the
parties at present financially interested in
Baltimore and Ohio. railroad affairs have,
through their representatives, agreed to
elect Congressman John K. Cowen of Balti-
more to the presidency of the company
was yesterday the general subject of con-
versation in. Baltimore and New York
among men interested in railroads.
In Baltimore, where Star reporter met
and talked with number Of persons who
ere friendly to the Baltimore and Ohio, the
report was received with pleasure. Consid-
cradle surprise was manifested that the
name of Mr.. Cowen had not been men,
toned sooner by the committee, to whom
has been entrusted the duty of selecting a
president.
Among the names mentioned during the
last few days for the vacant position are
those of D. b. Robinson, now vice president
of the Santa Fe system and w. H. Bald
win. second vice president Of the Southern
Railway Company, and whose office is in
this city. 1t is said that Mr.. Baldwin
would not leave his present position, unless
the offer Of J. Pierpont Morgan & Co. to
advance $4OOO.OOO to the Baltimore and
Ohio is accepted. In such event the control
of the Baltimore and Ohio will pass into
the hands Of ]. p. Morgan & Co., and the
Baltimore and Ohio and Southern railways
be, 1t is believed, practically consolidated,
both being controlled by the same bankers.
The Debt and the Presidency.
For some time past the efforts of the
interests now controlling the Baltimore and
Ohio have been directed toward securing
the funds necessary to meet the obligation
referred to. 1t has been intended to Sc
lect a president whose views as to railroad
management should be in accordance with
those Of the parties from whom the money
should be obtained. Within the last few
days, however, the committee has, it is
said, decided to first select a president and
let the present chairman of the finance
committee of the company, Colonel Alex
ander Shaw. arrange for the raising of the
large amount of money necessary to pay
the Indebtedness of the company. The
speedy selection of a successor to Mr..
Mayer is regarded as matter Of the high
est Importance and the first that must be
settled.
The accession of Mr.. Cowen, now general
counsel of the Baltimore and Ohio, to the
presidency would indicate that Miss Mary
Garrett and other large stockholders who
are associated with her have succeeded in
making such financial arrangements,
through Colonel Shaw, as will retain the
presidency of the road in the same quarters
where it has been for nearly forty years.
Although Mr.. Cowen has never been en-
ployed in the administrative offices of a
railroad company, he is regarded by those
who know him best as a great practical
railroad man. His entire legal practice
has been in the conduct of the railroad
cases for the Baltimore and Ohio. For
the past ten years he has devoted much
time to the study of the great problems
relative to safe and economical manage
ment of the company in whose service he
has for SO long been chief of the legal
department..
1t was he who conceived the idea of NOV
ing trains through the long belt line tunnel
at Baltimore by means of electricity.
A Double Head, Perhaps.
The belief is general that the English
plan Of having two heads for great rail-
way system will be adopted by the directors
OF the s. and o. at their meeting in Feb
ruary.
The idea that has been advanced in some
quarters that there might be a clash should
the president OF the B. and Q. and the
chairman of the finance committee be
| equals In rank, Is ridiculed by many OF
authority in his own particular field. Thus
while. Mr.. Cowen, If he shall become pres
ident. will have absolute control of all mat
ters relating to the operating Of the road,
ne would not be bothered with the cares
of its financial affairs, and in the latter
the chairman of the finance committee
which position, 1t is assumed, will continue
70 be held by Col. Shay. will have supreme
authority, but neither will have any right
| to interfere in the jurisdiction of the other
| A gentleman who is interested in the
b. and o. to tine extent Of more than 500
600, yesterday told a Star reporter tina
Mr.. Cowen is the logical candidate for the
presidency Of the company, as he knows
more about its affairs than any other living
man, while several bankers stated thai
during the last six or seven years he has
prepared every mortgage that has been
| given, every bond that has been issued, and
| in fact, has personally conducted or super.
intended every legal transaction that has
occurred.
1t is understood that should Mr.. Cower
become president of the B. and o. he will
resign his seat in Congress.