The Wilmington daily Republican. (Wilmington, Del.) 1890-1902, 1898-03-31
DBPBNTS PROMOTION.
He Will Be at the Head of All
the Vanderbilt Lines.
AN IMPORTANT CONSOLIDATION.

Inc tanuerDlltS themselves Retire
From Active leadership. But Re-
main In the Directories of the Va
rious Railroads Which They Control.
New York, March 31.-President De-
pew authorizes the following state
ment: ION 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
coed 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 a 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
New York Central and the Michigan
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 ines 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 reEar'' distinct
promotion and a lI,ugnition of his
ability and wisdom. The Messrs. VAN
derbilt, by putting Mr. Denew in the
official position which they have oc
cupied 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 its
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
the Messrs. Vanderbilt felt that if they
should die the relations which hereto
fore existed between the several roads
might be broken up by antagonistic in
terests, imDairing 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 director in the New
York Central in 1874. In 1893 he was
elected second vice president and gem
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, st. Paul and Omaha.