New-York tribune., 1901-03-21

Free Academy. He began railroad life on the
Erie, firing switch engines. Later he served in
almost every capacity up to general manager OF
the various railroad properties comprising the
old Utica Ithaca and Elmira Railroad Com
pany now a part of the Lehigh Valley system.
and served under President William L. Burt.
Ezra Cornell. H V. Poor. DR.. Edward Eldridge
and Austin Corbin. In 1886 he went West. and
accepted the place of master mechanic of what
is now the Chicago and Eastern Illinois Rail-
road COMPANY Two years later he became
master mechanic of the Duluth and Iron Range
Railroad which is owned by the Minnesota Iron
Company. and was soon promoted to the post
of general superintendent. In 1892 he was
elected president of the railroad. which post hs
has since then occupied. In December, 1900. he
became president of the Minnesota Iron Com
pany and ali of its constituent companies. The
Minnesota Iron Company is owned by the Fed
eraI Steel Company. of whose board OF directors
n H. Porter is chairman. and Anson r. Flower
is A member. Messrs. Porter and Flower. with
Henry Sefbert. vice-president OF the Minnesota
Iron Company being also directors OF tha
Brooklyn Rapid Transit Company
Late in the afternoon il was declared thai
Mr. Porter had succeeded Anthony y. Brady as
chairman of the board Of directors OF the
Brooklyn Rapid Transit Company No such
statement was authorized az Slr Bradys ONCE.
while q friend of Mr.. Porter said that the re-
nort was premature He did not deny that the
rIaCa had been offered TO Mr. Porter. nut ne
iytiv,ated that the latters increasing years, to-
gether with his other interests, mlsht cause MN
= 5ec1i,a the chairruanShip Mr.. Rraiy's resig-
1a tion il was added should not be accepted as
an indication tina his interests In the rapid
transit company were in any degree diminished
There is little reason 10 doubt. however thar
,rr Porter will accept the craftsmanship. and 10
is understood that he will take an active part
in the management of the company, MI forter
has had much practical experience IN the 0lrec-
tiou of traction companies as we'll as steam rail-
ways
THEORIES REGARDING THE CHANGE.
There we're various theories put forth yester-
dav in Wall Street in explanation Of the chanss
made in the Rapid Transit presidency, one being
that the retirement of Mr. Rossiter was a set
back for the Vanderbilts- There have been
repeated reports that the Vanderbilts were
heavily interested in Brooklyn Rapid Transit
and were trying TO gain control of the property.
These rumors seem To be based upon lwo facts;
First that Clinton l.. Rossiter is a brother OF
f. V ". Rossiter. who is treasurer of the New
York Central. an executor of the will of Cor
nelus Vanderbilt and an influential member OF
the directory OF the New York Central; second.
that Fl. c. Du Val private secretary to Chaun-
cey Nj. Depew. is director and Weep president
of the Brooklyn Rapid Transit Company. The
truth is that the VandeTbits have little or
interest in the property When the estate
of Cornelius Vanderbilt inventOried. il was
found that he held large block or Brooklyn
Rapid Transit stock, $3.50 shares IL is known.
however, that he bought this on the advice OF
the late Governor Flower. and for investment
purposes solely. with no idea OF taking an
active part in the management of the property
The other members of the Vanderbilt family, so
far as known. have little il any holdings in the
company, and il may he said that the company
is in no sense of the word Vanderbilt property.
Moreover. F. III. Hartman. who is eenerall-
regarded as in measure representative
| Vanderbilt interests has been . member
| Brooklyn Rapid Transit board fcr the
and necessarily influential member
/ believed that the change OF eNecut
| ably initiated by Messrs. Porter
NEW TRAIN To ST
| Leaves Grand Central Station
| ST. Louis $50 night This
| Limited of the New York Cen
i Big Four. No excess fare