The evening herald. [volume] (Shenandoah, Pa.) 1891-1966, 1898-03-31
DEPEW'S PROMOTION.
He Will Be at the Head of All
the Vanderbilt Lines.
AN IMPORTANT CONSOLIDATION.

The VanderbIlts Themselves Retire
From Active leadership, But Re-
main In the Directories of the Va
rlous Railroads Which They Control.
New York, March 31.-President De-
pew authorizes the following state
ment: "On April 20 Chauncey M. De-
pew will retire from the presidency of
the New York Central and Hudson
River Railroad company and becomes
chairman of the board of directors of
the New York Central and Hudson
River, Lake Shore, New York, Chicago
and st. Louis and the Michigan Cen
| trail railroad. S. r. Galloway will sue
ceed Mr.. Depew as president of the
New York Central, and Mr.. Ledyard
will remain president of the Michigan
Central. Cornelius and William X.
Vanderbilt will remain in the directo-
ries. The presidents of the Lake Shore
and of the New York, Chicago and st.
Louis have not yet been chosen"
The Vanderbilt system heretofore has
been handicapped in competition with
lines which run through under one
management between New York and
Chicago, like the Pennsylvania, the
Erie and the Baltimore and Ohio. The
New York Central, the Lake Shore, the
| Michigan Central and the Nickel Plate
had no other union than controlling
ownership in the stock by the same
people. Officially they had no con-
nection with each other except that
Cornelius Vanderbilt. being the chair
man of the board of directors of the
| H.,
| Central, and William X. Vanderbilt of
the Lake Shore and Nickel Plate
boards. the harmonious relations of the
| two brothers was a bond of union. BY
this change the Messrs. Vanderbilt re-
tire from these chairmanships, though
they remain in the different directories
and continue their full and active in
terest in the property.
Mr.. Depew, by becoming the chairman
| of the board of directors of each of
| these separate roads, unites this office
| in one person instead of two. Through
| him occupying this position is secured
a unity of administration and opera
| tion in all that relates to the general
traffic of the systems as exchanged be-
| tween the several lines The Lake
Shore and Michigan Central and Nickel
| Plate will have and maintain the same
| connection they have always had, be-
cause they have all of them done a
| great deal of business with lines other
| than the New York Central, but the
New York Central is placed on an
| equality with the traffic associations
and in the competition with through
business with the lines which run
through under one control between
Chicago and New York.
For Mr. Depew after thirty odd years
| of service, it is regarded as a distinct
| promotion and a recognition of his
ability and wisdom. The Messrs. Van
derbilt, by putting Mr.. Depew in the
official position which they have oc-
| cuped so long in their own practical
way, effect the unity of the admin
istration which they sought 1t is be-
lieved that this policy will add greatly
to the efficiency of the system in It's
service to the public. 1t does away
with the frictions which have fire.
quently arisen between the presidents
of the several lines. because the chair
man of the several boards of directors
will be the arbiter through whom must
necessarily come a settlement of any
differences that may arise. @
In conversation Mr.. Depew said that
should die the relations which hereto
fore existed between the several roads
might be broken up by antagonistic in
terests, impairing the value of the
large investments which they had in
those properties.
Mr.. Depew's services with the Van
derbilt system began with his appoint
ment in 1866 as attorney for the Har-
lem railroad. His duties were soon eX-
tended to the Hudson River road and
he was elected a director in the New
York Central in 1874. In 1888 he was
elected second vice president and gen.
eral counsel of the New York Central
He was elected president of the same
road in 1885, and has held the office
ever since. In the interval he was
elected a director in all the Vanderbilt
lines. These are: In the east, the Bos-
ton and Albany, the New York, New
Haven and Hartford and the New York
and New England: in this state, the
New York Central, the West Shore, the
Rome and Watertown, Ontario and
Western, Harlem, Geneva and Corn
ing and the Pine Creek and Beach
Creek: west of Buffalo, the Lake Shore
the Michigan Central the Nickel Plate
the Canada Southern and the Big
Four; in the southwest, the Chesapeake
and Ohio: west of Chicago the Chi.
cago and Northwestern and the Chi.