The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-06-06
CHANGES ON SANTA FE
j. w. kENDRICk MADE THIRD VICE
PRESIDENT OF THE COMPANY.
{. +. steele Elected Director-yictor
MOrOwitz Chairman Executive
COmmittee-Martin's Decision.

The Atchison. Topeka & Santa Fe Com
pany announced yesterday the following
appointments: j. w. Kendrick. third vice
president in charge of operation; w. B.
Jansen, assistant to the president, in charge
of the Chicago Office and the companys
coal properties; Captain a. H. Payson. as
sistant to the president. in charge of north
ern California affairs, headquarters in San
Francisco.
The directors, at meeting in New York,
yesterday declared the regular semi-annual
dividend of 2i2 per cent. on preferred
stock, payable Aug. !. The directors Vot
ed to abolish the Office OF chairman of the
board, and elected ID. L. Gallup permanent
vice chairman, with headquarters at New
York. Charles r. Steele. OF the firm of J.
L. Morgan d Co. was elected d director
IN the place of the late Aidace +. Walker.
He also placed on the executive COM
mittee of the road A new Office was ere
ated, that Of chairman OF the executive
committee, and Victor MOrowitz was chosen
10 NIL 1t. j. w. kendrick was elected third
vice president in place OF j. NJ. Barr, who
resigned TO go with the Seaboard Airline
Company.
The New York Mail and Express says of
Mr.. Steele's election to the Atchison di-
rectorate: The election OF Mr.. Steele
means that IN the future Mr.. Morgan is TO
be one of the ruling factors in that com
pany. 1t also brings to light some eX
W estern railroad situation which thus far
Rave been kept secret. Nobody supposed
that Mr.. Morgan wanted 10 get loot
held in the Atchison but 1t has been known
tor some time that the Pennsylvania Rail
road had bought large block or the stock,
and in due time would be given repre-
sentation in the board of directors. A rep
resentdtive OF the Pennsylvania Will be
chosen shortly. Most of the Pennsylvania
purchases of Atchison were made months
ago at materially lower prices than pre-
vail to-day. The Burlington incident and
the Northern Pacific corner however
brought great financial powers into oppo-
sition and changed the programme which
had been arranged only "A short time be
fore. With the possibility that the Union
Pacific and Southern Pacific might be used
TO the great disadvantage Of some OF the
Eastern railroads, such as the Pennsyl-
vania, Vanderbilt and Southern Railway
systems, IL became essential that sufficient
interest in the Atchson should be acquired
t. enable Messrs. Morgan, Cassatt and
their associates TO reach far Western
points which are, not accessible by the
northern transcontinental lines. Accord
ing to man identified with Atchison in
terests. Mr.. Morgan and those whom he
Re presents. including, perhaps, the Penn
sylvania. now hold a majority of the COM
non stock. of which SlR. 900 is OutStand-
ing Ii is believed that Mr. Morgan is act
ing i'm harmony with the Pennsylvania in
terests and that they will pool their stock -
f.. L. Ripley president OF the Atchison,
said, at New York, last night: The cleo
tiOn of Mr.. Steele as director and of Mr..
Kendrick third vice president have no
significance whatever beyond the personal
qualities of the two men. Mr.. Steele was
selected because it was thought that his
personality and his advice and counsel
would strengthen the board, and Mr.. Ken
drick was selected because it was believed
he was the best available man TO fill the
existing vacancy. Neither of these selec-
tions was at the instance of Mr.. Morgan
or of any one in his behalf. On the con-
trary they were originated within the board
and no outside prompting from any source
whatever. As to the story that Mr.. Nor
gan has obtained control of the Atchison
property or that the Pennsylvania Com
pany has obtained control. l can only say
that l have never seen the slightest indi-
cation that such a desire existed on the
part of either interest in that direction. and
feel very sure that such rumors have abso-
lutely no foundation
Concerning the reports that a deal for
the control of Rock Island was being con-
sidered by the AtchisOn officials. President
Ripley said: There is absolutely no foun-
dalton for the report. far as l know
and there is as little truth in the Wall
street report that Atchison seeks TO control
the Rock Island