New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-03-31
VANDERBILT LINE CHANGES.
CHAUNCEY NJ. DEPEw TO RETIRE FROM
THE PRESIDENCY OF THE CENTRAL.

AZ brtoME CHAIRMAN OF THE BOARDS Or
DIRECTORS OF FOUR GREAT ROADS
S. r. CALLAwAY TO SUCCEED
HIM AS Observation-Disclosures
FOR THE CHANGES.
Important changes in the administration Of
the Vanderbilt system Of railroads. 1t was an
nounced yesterday. will take place on April ~,
when the annual election OF officers of the New
York Central and Hudson River Railroad Com
pany will be held Chauncey NJ. Depew, who
for thirteen years has been the president OF the
company. Will retire. and his place Will be taken
by Samuel r. Galloway. now the president OF
the Lake Shore and Michigan Southern Kali
road. On the other hand, MI Depew VIII be-
come the chairman OF the Boards Of Directors
OF the Vanderbilt lines. which include besides
the New-York Central. the Lake Shore the
Michigan Central and New-York' Chlcaso anu
St. Louis (Nckel Plato.
Mr. DEPEw's STATEMENT.
The announcement of the prospective changes
was made public last evening in the following
statement which was issued by Mr.. Depew:
mnjstration in the Vanderbilt system Of railroads;
the following adjustment Of the management wsI
York Central and Hudson River Railroad Ion ooinr
pany. which occurs on April 20; Channf%o e NcwYorE
Central and Hudson River Railroad Company and and
New-York Central ard Hudson River, the Lake
shore the New. York Chicago and ST LoniS ana ana
viii succeed Mr. Depcw president or the New-
Ledyard will remain president OF the Mch'sah
Central =. ~. Now.
York Chicago and St; Louis have not yet vet, oe Zen
chosen. Cornelius Vanderbilt in retiring rom , rne
son, River ana Of the Michigan Central and VIII
lam X Xanderb in retiring from tns @hi
cago and 81. Louis. will remain in the directories
whicb their names have been so long Identified, and
in which they have sucn large Investments
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 Lake Shore. the Michigan Cen
trail and the Nickel Plate. had no other union
than a controlling ownership In the stock by the
same people Oflcially they had no connection
with one another save that Cornelius Wander
bilt being the chairman OF the Board or d.
rectors Of the New-York Central and the Michi-
gan Central. ard William X. Vanderbilt. Of the
Lake Shore and Nickel Plate boards. the har-
n onious ana cordial relations of the two broth
ers was the bond of union. BY this change the
Messrs Vanderbilt retire from these chairman
ships. though they remain In the different d.
rectorates and continue their full and active In
terests in the property.
UNITED IN ONE PERSON.
Mr. Depew. by becoming the chairman OF the
Board of Directors Of each OF these separate
reads unites this office in one person instead OF
two. Through him will be secured a unity OF
administration and operation in all that re-
lates 10 the general traffic Of the system as ex-
changed between the several lines The Lake
Shore and Michigan Central and Nickel Plate
will have and maintain the same connections
they have always had. because they have all OF
them done great deal Of business with lines
CHER than the NewYork Central; but the New
York Central is placed on an equality IN the
Traffic Association and in the competition Tor
through business with the lines which run
through under one control between New-York
apd Chicago.
The plan has been contemplated FOR many
years but the time did not arrive until recently
when II could be practically put In operation
The officers have long believed that such
unton would inure to the benefit OF the Wander
hilt svsten of its patrons and Of the public
For Mr. Depew" said of the Central
Railroad officials. after thirty odd years OF
service It is regarded as a distinct promouon'
and a recognition Of his ability the Messrs'
Vanderbilt. by putting Mr.. Depew in the official
place which they have occupied so long in their
own practical way. fleet the unity OF admins
tration which they sought. 1t is believed that
this policy will add greatly TO the efhciency Ole
the system In its service and to the public IT
does away with any frictions which have fire.
ouently arisen. between the presidents Of the
several lines, because the charmen Of the sew
eral boards OF directors will be the arbiters
through whom must necessarily come settle
ment OF any differences that may arise. and
connplete the harmony Of action and admins
tration."
In conversation Mr. Depew said that the
Mes.rs Vanderbilt felt that II they should die
the relations which heretofore existed between
the several roads might be broken up by an
tagonistic interests. impairing the value Of the
large investments which they had in these prop
critics
BEGAN IN 1866
Mr. Depew's connection with the Vanderbilt
system began In 1866 when he was appointed
attorney for the Harlem Railroad. His duties
were soon extended. and in 1874 he was made
director in the New-York Central In 1888 he
became second vice-presdent and the general
counsel of the railroad. and In 1880 he was
elected president. an Office which he has held
ever since then. Since 1866 he has been elected
a director In all the Vanderbilt lines. These are
the Boston and Albany the New-York New
Haven and Hartford. the New-York and New
England the New-YOrk Central the West
Shore the Rome Watertown and Ogdensburg,
the Ontario and Western. the Harlem. the Pine
Creek and Beech Creek, the Lake Shore, the
Michigan Central, the Nickel Plate the Canada
southern the Big Four. the Chesapeake and
Ohio the Chicago and Northwestern and the
Chicago, St. Paul. Minneapolis and Omaha
Mr. Depew said last night that the change
would not affect his residence In the city, though
n might make il necessary for him 10 do more
Travelling NV Office he said, will continue
20 he in the Grand Central Station. and my home
in Fifty fourth-st.
Horace G. Du Val. who for years has been Mr..