The age-herald., 1901-11-19
Accepts the Presidency of the Cumberland Goal and
 Coke Company
LAST OF OLD REGIME
 IN POWER FOR YEARS
Changes Began Last Year With Advent of Don H.. Bacon--Mr. Baxter
 Says There Was Per
 feet Harmony. -

Nat Baxter, Jr., president of the Ten nesse Coal. Iron and Railroad company, has resigned. His resignation was sent to the board of directors of the company in New York yesterday and is effective December 1.
 In resigning from the position of presi- dent MT. Baxter sewers entirely his con nection with the company. At the same time he accepts the presidency of the Cumberland Coal and Coke Company of Tennessee, in which he has acquired large interests.
 The Cumberland company is controlled by western capitalists. some of the wealthiest fnanciers of St. Louis holding prominent positions in its management. It owns about 325,0O0 acres of coal and mineral lands. and has in operation eight coal mines. Tho company recently secur- ed the coal mines and properties of the Crawford Coal and Iron Company and is capitalized at s5.0o00oo. It's properties are situated on the Cumberland plateau.
 While 1t was known to many who keep informed regarding the movements of persons prominent In the industrial world that MT Baxter was considering an offer from another company. 1t was not beliov- ed that his acceptance of that offer would necessitate his resignation. Consequently the announcement that he would sever all connection with the Tennessee company came as a surprise. In speaking of the Mir saId.
 No Friction Between Officers.
 My resignation was not rendered the directors of the company for any reason other than the acceptance of what con slider a place where opportunities will be greater and where 1 was allowed to acquire interests that will serve to make my work exceedingly pleasant and prof itaable. In leaving the Tennessee Com pahy. I want to express the very best wishes for every one connected with it, and to say that at all times has harmony existed between others holding official positions and myself.
 1T have accepted the presidency of the Cumberland Coal and Coke Company and will join its forces after December 1, at which time my resignation with the Tennessee company is effective. This company is very strong, and owns con- siderable property which I account among the most valuable in the South. The control is vested in western capital ists several of whom reside in St. Louis. The property lies adjacent to the line of the Tennessee Central Railroad. of which my brother, Jere Baxter Is president.
 My first offer from the management of the Cumberland company was re- ceived more than twelve months ago. It was to become the presi- ident and active controlling power of the organization. I was asked to make my own terms, but after much consideration and study of conditions declined to ac- cept the position.
 Later my brother arranged so that his railroad would reach to Nashville, where 1t will be by January 15. and after wards the offer of the company was re- newed This was but little more than two months ago. At the time I made several visits to St. Louis. and after much negotiating was allowed to acquire large interests in the organization on my own terms. A few days ago accepted the presidency, and today have ten dered my resignation to the directors of the local company.
 Regrets to Leave.
 "I did this with sincere regret, for since my connection with Birmingham I have developed a great fondness for it, and a great faith in it's future. But even if I am leaving Birmingham am retaining financial interests In the city and local property. My interests in the Birming- ham Railway. Light and Power Com pany are large. Added to them I have other private investments which I will hold on to with firIn faith in their flu ture.
 T desire also to reiterate the statement that all my connections with the Ten nessee Company and it's officials have been pleasant. Perfect harmony has aI- ways existed between every one and my self and have only the very best wishes