The morning times., 1897-03-02

York to purchase the 81 ,S99, 900 OF seven
per cent first mortgage bonds or the 81
Louis, VaHdalia, and Terre HanIe RalL
road Company, which Inatured January
1st, 1897. This road is operated under
lease by the Terre Haute and Indianapolis
Railroad Company, and the latter having
been unable to meet its obligations 10 lne
other lines leased by it, all its properties
have been, at their instance, placed in the
hands of a receiver. Under this state or
facts, although the Vandalia Company Vas
in no way responsible for the default OF
its lessee, and was fully ahle 20 meet lts
own obligations, 1t was found lnprac-
tlcais to sell It's securities 10 adyaatase .r AZ
OOHdS referred 10. Your Company DdSs
therefore, as the indirect guaTantor there
of, become their purchaser, and VIII hold
them until the relations between the Terre
Haute and Indianapolis Railroad Company
and it's leased lines are finally adjusted,
on April 18th, 1896, the FIfsifth e Ami ami
pany was appropriately celebrated by
public meeting of the stockholders at the
Academy of Music, at which addresses
were made by your late President, Mt
Roberts also by the Governor or PennSyi-
vania. the Mayor OF Philadelphia the CITY
Attorney of Pittsburgh, Representing the
Mayor OF that city, Mr.. FIederick Fraiey,
President of the Philadelphia Board of
Trade, Mr.. ]. Twing Brooks, one OF the
Vice-Presidents OF your western HS HheS' anu tn,i
Mr. Joseph IL. Choate, OF New YORK, the
eminent orator and lawyer
Mr. David s Gray having resigned as
General Manager Of the Union Line 70 &C
cept the position of representative OF your
system Oh the Board of Managers OF the
Joint Traffic Association, MI L. a; DaW-
son was appointed on 9th July, 1880, 10
flll the vacancy, an1 49, NJ Manager Of
the Union Line in Mr.. Dawson piate,
The BoaT,i have to- record tllc 1edIh oI
one of their oldest members, All. nstS nsea.S
b. Welsh on the 18th OF December, e9o.
Mr.. Welsh com ection of over elshteeh
years with The Company ana IdthiHi ~ ~,
ice in its behalf, make his loss one 70 ne
deeply regretted. both personally ana
officially AS leading member OF your
committees and as an officer anu 9iIee-
tor of large number OF your suoSluidry
corporations, he gave the greater poItIoon
OF his time to your interests, anu won the
affection and esteem OF his associates;
Mr.. EffIngham b. Morris was eleatea
member of the Board To succeed Mt. "elsn'
and MIR. K Dale Benson appointed Auui-
tor of the Trust Fund of October Sun,
1878. to fill the vacancy created nJ tne
resignation of MIR. Motifs from lha' poSi
Mr.. John Scott, who for forty years had
been connected with your legal depart,
ment, dunng eighteen years OF that period
had heen your General Solicitor, and
then, until his death. the Counsel or the
Company died on the 29th OF November.
profession. high integrity, and conscien-
tious discharge OF duty made hlln an
invaluable adviser and trusted friend, ana
the Board desire to acknowledge the
him the confidence and regard OF all
with whom he came in contact
Mr. Robert Nelson, General Superln-
tendent OF the Philadelphia and Erie and
Northern Central Railways, died on the
/ 9Th OF October, 1896 Mr. Nelson hau
been connected with the lines sol or Your our
responsible position which he held at
the time OF his death since 1858. HIS
intimate knowledge or the properties uh,
der his charge, and his Intelligent and
Jealous devotion to the interests or the
Company, made him one or It's most trusted
officers. Mr.. j; N. Wallis, formerly SD-
permit endent of Motive Power or the
Penns vi yania Railroad Divtsi on, was
promoted TO fill the vacancy thus caused
Since the close OF the year tHe company
has to record the loss or your Iate HTesi-
dent, Mr. George b. Roberts, whose lie
had practically been spent in YOUR service,
ana who beginning as a member OF an
engineer corps ON the original construction
Of the Main Line, had succeSlvely iiiitd
more and more responsible positions, until
he was elected President IN June, 1851
During the seventeen years of his a0InlntS-
tration ne devoted his exceptional abilities
to strengthening and consolidating Your
system, and brought to that work ripe
Judgment and long experience which were
OF the greatest value in the deterUInatl"n
of the important questions which from Time
to time affected your welfare. Mr.. Rob
ertS died on the 3Uth OF January, 1897,
after a prOtracted illness. and the Board
submit with their full report the minute
adopted by them, in the belief that it VIII
meet the ruli approval OF the stotkuOi'ItFsi
and that they will share the profound re-
gret felt by the management at ne loss or
one whose controlling thought during his
entire official life was for the conservation
and advancement of the Interests or the
Company.
Mr. Frank Thomson was elected rTesi-
dent on the Sd Of February, 1897, 10 tin
the vacancy caused 10y tie death of MI
Roberts; and in accordance with the re
yiSed organization adopted On the 10th
OF February, Mr.. John 2 Green was elected
First ice-PreSident, Mr.. Charles E
pugh Sec ond Vice-PTesident, and Mr..
Sutherland N. Provost Third Yice-PreSi-
dent; Mr. Samuel Rea was apI Ointed First
Assistant and Messrs. William A Patt on
and f. T. poStlethwaite additional Assist
ants to the President; Mr. William II.
Joyce, Freight Traffic Manager; Nj j.
Il. HutchinS on. General Mana ger, vice Mr.
PREY OSt, elected Nice-PTcSident. ' and Mr..
Michael Trump, General Superintendent OF
TrausI oTtation To fin the vacancy created
by Mr.. HutchinsOn's promotion
Condensed General BaIance-Shect OF
the Company is hereto appended.
The Roard renew their acknOw OwledgementS
to the officers and employees for the fidelity
and efficiency with which they have dis
charged their duties during the past year
the Board.
FRANZ THnNSnN prss.dsnt