The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-03-21

company. There were present Direc-
\ tors William Adamson, +. G. Vaughan,
| L. r. Rogers, John Watson. A. G.. Horn
and W. H. Rowe. Mr.. Rowe also re-
signed as director of the Bear River
! companies, as did A. C. Horn. The
new board of directors consist of Will
! liam Adamson, E. G.. Vaughan, l.. r.
/ Rogers, S. NJ. Jarvis, John Watson, S.
/ L. Conklin, David Eccles, John Holds
worth and S. r. Harbert. The two last
named were put in to fill the vacancies
caused by the designations, and are for
/ eign stockholders.
William AdamsOn of Glasgow, who
! has been here for some time in the
: interests of the foreign bondholders of
! the company, and who was vice presi-
/ dent of the companies, except the
Street Railway company, will take
! charge of the affairs of the various
companies, for the present, at least.
Mr.. Rowe will remain for time, as
Sisting a new manager in becoming Ia
miliar with the details of affairs.
The Street Railway company has no
direct connection with the other enter
prises from which Mr.. Rowe resigned.
S. L. Jarvis is still president of that
company, and N. c. Flygare, manager.
Immediately after the directors meet
ing Mr.. Rowe went to Salt Lake and
spent yesterday in the capital city.
William Adamson, who is now in
nominal charge, stated to The Herald
that no changes would be made for
the present, at least in the personnel
of the office force.
"Of course said Mr.. Adamson.
some man with the necessary local
experience will be selected TO succeed
Mr. Rowe. 1 was elected vice presi-
dent temporarily to fill the gap. You
observe that 1 was not elected presi-
dent, and shall act as manager only
until such time as the various affairs
can be adjusted and some competent
man, having the necessary local knowl-
edge. can be secured. Negotiations are
already in progress looking to that end.
1 believe the matters affecting the title
to the canal, growing out of the Gar
land judgment, are on the edge of a
settlement. Mr.. Garland's attorney is
here now from California for that pur-
pose. Things point to an early settle
ment of this matter The enterprises
represent an immense outlay. and. of
course we expect them to go forward.
Thus far they have been rather dis
appointing from the point of view of
the bondholders. Bondholders few
thousand miles away have a habit of
looking at but one phase of the mat
ter They ask not how many acres
of orchard have been planted, nor how
many acres of rich land are still for
sale. They want to know about the
dividends.
Trade has been very duh all over,
and perhaps this is responsible for the
fact that our investments here have
not been more successful. However. as
l said. the enterprises should pay and
must go on"
Mr. Adamson is genial well-in-
formed Scotchman. worth several mil
lions in his own right. besides being
the agent of several foreigners equally
wealthy. He came here a month or
two ago as the personal representative
of a number of the foreign bondhoiders
interested with him in the Bear River
enterprises and the Ogden watervorks.
Former predictions were renewed yes
terday, to the effect that the city can
soon arrive at an Outstanding with
the waterworks company, and that the
recovery of the same by the munich
pality will not now be difficult mat
ter.
RESIGNATION WAS VOLUNTARY.
Mr.. Rowe was seen last night regard
ing his designations, and explained !
that his action was entirely voluntary,
and that there was no special reason |
for IL. Il still retain my interest in
the companies, said Mr.. Rowe. and I
shall continue to be in the business" !
Mr.. Rowe stated further that the af-