The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1900-01-04
REPORT THAT Mr.. KENNARD
WILL SUCCEED Mr.. TURNER
LATEST ST. LOUIS AND SUB
URBAN RTMOR.
Sale of the Road tn the United
Company Said TO BE the OBJ
iect-DcnialS.

report Was current among the brokers
yesterday that several changes probably
will H. made az the annual meeting Of the
, stockholders of the 81. Louis and Suburban
Railroad Company next Monday. According
10 tn" report, Sam. VI. Kennard and his
friends have obtained enough stock 10 elect
4 ma jority f the Board Of Directors. and
procure the election Of Mr.. Ksnnard to tho
presidency of the company. which position
is now held by Mr.. Turner.
MIR. Kennar.. So the story gces. when he
has become president will resume negotia-
iions with the Tinted Railways Company.
looking To consolidation If the Suburban
with that company.
II is said that the plans were laid las;
fall. but there was some hitch in the pro-
ceedine$. which ncccssi:ated a postpone
meEt.
According TO the story. Mr.. Turner was
originally In favor of selling to the Brown
Bru;h'rs' syndicate but some of the 9th r
stockholders objected and tn. deal WI
called of. Then there was such 4 marked
Improvement in the business Of tn Subu--
ban that President Turner changed hi-
, mind about selling. and has since obstinate
" refused tG listen to any proposition of
that kind.
4 weil-posted broker speaking Of TN, re-
port Yesterday said:
The story is likely ia he true as thine..
have been shaping themselves In that dircc-
tion for some tlma
Not long ago IS.H3 shares of the stock
were pooled. and dep sited with the Mis-
SiSSippi Valley Tru-t Company. to h. kept
off the market. IN order .. prevent = dec!in,.
! in its price. ana tn enable thos, Who WEE
| "n IN" insii' "f tn" d"al t. know Usi "
they stood. II u said. however. that options
had hc"E procured on sufficient stocks 80
al tf.rs H.. fF...
sale to the Brown Brothers syndicate
When Mr.. Turner was reported on his way
{" Europe. il is said. he and Vice President
kennard were actually in New York for
tn" purros" "f making deal with the
Brown Brothers United Railways syndicate.
President WHITAKER of tn. United Railways
Company. {. IL. Spencer and a number Of
others who are prominently connected with
the United Railways Company. happened
to he in New York at the sam" time and
ii was expected that the deal would be
made. but suddenly Mr.. Turner baIkcd ard
refused t" listen I" any proposition. and
the whole thing had To b. called off.
Since then the inauguration Of the trans
! fer system by the St. Louis Transit Com
pany has materially affected the SuhUrhan'a
4 business. The line is badly in need OF re
pairs. and many of thos, who though: II
inldvisahle L" sell 4. short time ago are now
heartily in favor Of the proposition
In regard 60 the terms nf the proposed
hut that two Shalrs Of tr.. common stock
cf he United Railways Company and one
third share of tho preferred stock Of the
company viii be exchanged for S.ch share
of Suburban stock. Preferred stock of the
United Railways Company. ~ par. viii be
exchanged Tor az equal amount nf the sub
urban income bonds at par. whil' sufficient
Unit Railways Conn 4uys bonds have
| l'e"n reserved to take car" Of tn" Suburban
bonds as they nature.
All Of she officers Of an. company who
: were seen refused to discuss the report. *
: Ccpt Mr.. K"nnard and President Turner.
/ who both said that there was nothing in il.
Won may say for me President Turner
said that I will bc president Of ths -ubur-
4 ban Railroad as long as Mr. Nennarl is
connected with it, OF aS long as ! care. 20 nc.
The story * only an idle rumor''
The 1880 shares Of Suburban stock arc
still pooled. bun will he released about the
! end OF February, il /. said