The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1897-12-28

New York, Dec 27.-It is officially
announced that Horace G. Burt, third
vice-president of the Chicago & North
western Railway company, has been
selected for the presidency of the Union
Pacific Railway company.
Mr.. Burt's election as president is
expected to carry into effect the policy
determined upon by the re-organiza-
ton committee when it was supposed
that Mr.. Clark would be able to con-
tinue in the management of the prop
erty, but which is impossible, owing to
Mr.. Clark's i'll health
The board Of directors is to include
Winslow S. Pierce, chairman; James
Stillman, Marvin Hughitt, Roswell
Miller, E. H. Hartman, Louis Fitzger-
aid, Henry B. Hyde, John w. Doane,
jr., George ]. Gould, Oliver Ames,
George @. Cannon and Jacob H. Schiff.
Oliver w. Mink is to be vice-president
in charge of the New York Office.
IT WAS DENIED.
More than fortnight ago, when it
was announced that Mr.. Burt would
be chosen to the presidency of the
Union Pacific as re-organized,. strenu-
Gus denials came from many quarters.
1t was alleged that Mr.. Burt was so
closely allied with what are called the
Vanderbilt interests" that to make
him president Of the Union Pacific
would be to place that line practically
under the same management as the
New York Central, the Lake Shore and
the Chicago & Northwestern. 1t was
further asserted that this would be a
mistaken policy, as it would tend to
divert from the Union Pacific support
which it has hitherto received from the
Rock Island, the Burlington, the St.
Paul and other great roads that cen
ter in Council Bluffs as their principal
Missouri river point 1t was pointed
out that all these roads had terminals
at Kansas City and could throw large
volume of Pacific coast-bound business
that way.
WHO THEY ARE.
The opinion in New York today, so
far as it can be gathered thus early, is
that the directory has been carefully
made UP so as to discount any other
objections to Mr.. Burt as president.
WinSlow s. Pierce is q Well-knoWn law
yer and has had a great deal to do with
the Gould interests in the Missouri
Pacific. James Stillman of the
firm of Stillman & Hubbard has large
holdings of Southern Pacific securities
Marvin Hughitt is president of the
Chicago 6 Northwestern and Roswell
Miller of the Chicago, Milwaukee & St
Paul, while e. II. Hartman is one OF
the managing directors of the Illinois
Central Louis Fitzgerald is president
of the Mercantile Trust company OF
this city and Henry B. Hyde president
of the Equitable Life Assurance com
pany. John W. Doane is a well-known
capitalist of Chicago and railway or
ganizer Otto H. Kuhn is of the finan-
cial firm of Kuhn, Loeb & Co, while
T. Jefferson Coolidge represents, with
Oliver Ames, the Ames and many OF
the New England holdings. George ]
Gould is president of the Missouri Pa
cific. George @. Cannon is from Utah
and credited with much work in the re-
organization plan. Jacob II. Schiff was
one of the reorganization committee
and is in close touch with j. Pierpon-
Morgan & Co. Oliver W. Mink was
one of the receivers before the re-or-
ganization and subsequent sale of The
road TO the syndicate. 1t win befs seer
that the new road embraces so many
whose interests are opposed to any
single or dominant control in the Unior
Pacific that to call it a part of tht
Vanderbilt system would not be true
in fact or theory.