The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1900-08-30
HUNTINGTON SUCCESSION
financial as Well as Railway Circles Are
Taking an Interest.
Mr.. TwEED'S CANDIDACY HAS STRENGTH
The Donabue Interest--speyer d Co
May support IL. IL. Huntington.
New Appointments--Not

In connection with the discussion con-
corning the Huntington succession to the
presidency of the Southern Pacific the
New York Commercial says:
Interest in the question of selecting a
new president for the Southern Pacific
is quite as strong in Eastern railroad AMI
financial circles as on the Pacific coast.
and the suggestion has been made that
If II. Il. Huntington is so fortunate as
to step INFO his uncle's place, and have
his Headquarters in San Francisco. as tho
result of the plan to have a managing
board in New York. Vice President
Charles II. Tweed will be chairman OF
the board instead of Mr.. Brmln o; spe,er
d Co.. as stated yesterday.
1t was remarked yesterday by promi-
nent railroad man that be could not see
how Vice President Huntington could be
considered as other than the logical sue
cessor to Coils p. Huntington, vet the
statement is said to have been made By
Mr.. Tweed that he will not be chosen
president.
AS to Mr.. Hawley, this same gentleman
was quite confident that a mistake had
been made in connecting him with tue
office as likely candidate because, sad
he. Mr.. Hawley was distinctiveiy a
Huntington man to the extent that wher
the president died he lost his strongest
sunport in the Southern Pacific"
This view is not shared by other equally
astute gentlemen, who see in MIR. Haw-
ley's relations TO and with the company
many reasons why he might be given tue
preference the strongest of these, they
say, having been mentioned by the Com
mercial yesterday.
MIR. Tweeds candidacy Is considered 70
have special strength because Of the es
TEEN in which he is understood 20 be
held by the firm of Speyer & Co., wa!cn,
as heretofore suggested. will come pref 2
near debating the settlement OF the ques-
ton.
But there Is another consideration IN
connection with these financial agents Of
the company which is made he basis OF
an interesting deduction in the san Fran
cisco Call as tending to justify the belief
thai the late Mr.. Huntington MAJ hGvo
made a deal with Speyer Co. which
will prevent any feeling OF antagoI-s.n TO
his nephew defeating the choice Ca that
gentleman for the presidency.
1t is related that j. Mervyn DonNhue
wanted to buy an interest of his step.
mother Mrs. Annie Donahue. III what
was known as the Donahue road. and also
that of his sister. the wife OF Bl-Jn Won
Schroeder. He came East and 5ucceeIel
through Seligman & Co. and Ladenburg,
Thalmann G. Co in raising the necessary
money--s4 100000
The total amount of the stock was co.
600 shares. Of which the bankers received
Is 900 as a bonus, but the entire $4,000
were deposited with the Mercantile Trust
company OF New York b. which thoy
were thereafter voted at every election
under a five-year contract, which divided
the board of directors between Mr.. Don
ahue and the bankers each naming three
and Mr.. Donahue the seventh. who Was
agreeable to both sides.
Mr. Donahue was privileged also 70
name the president and general manager,
the latter to be subject to the approval
of the bankers who likewise named the
vice president and treasurer.
Taking this as an illustration. IT has
been suggested that the late Mr.. Hln'-
ington may have entered into an und er'
standing with Speyer & Co.. upon some
such basis as this. and for what he woH'd
have considered a sufficient length oil
time to insure a member of the Hunting
ton family being at the head OF the com
pany after he had passed away.
With the right reserved for either NM
self or his legal representative to name
the president. he could In his will have
made provision 1t is further stated, for
H. q. Huntington to succeed him in tue
| event Of his death. Mr.. Huntington was
| an exceedingly shrewd man who mad
| faculty OF providing for contingencies,
and IL he found an opportunity to mike
an ARRANGEMENT of this character. to be,
| come operative after his death. and could
effect 1t. it is maintained that ne wouio
not have allowed it to slip by him, .es
he desired that his nephew should Dc
! his successor.
In the event that this idea is correct
II. r. Huntipgton's election is assured,
| though it would not be surprising II
dhat case the plan for a managing boaid
| and chairman in New York should be
| adopted. The statement has been made
by a Southern Pacific official that II WI
! be some time before the vacant presi-
| dency Is filled.