The Savannah morning news., 1902-06-04
EGAN HAS RESIGNED
HANSON NOW PRESIDENT OF OCEAN
STEAMSHIP COMPANY.
CENTRAL RAILWAY BUSINESS.
PREVENTED MIR. EGAN CONTINUING
AS o. $. S. CO.'S HEAD.

speiaI Meeting of the Directors and
Stockholders Held Yesterday--Res-
ignatiOn of President John NJ.
EEan Was Then Accepted, and Mai.
}. f. Hanson, Chairman of the
Board of the Central, Was Elected
TO Succeed Him-This Action Was
in Pursuance of the Policy of the
Two Companies to Separate the
Management-It Is in Line With
Former Divisions.
The Central of Georgia Railway Com
pany and the Ocean Steamship Com
pany and New England and Savannah
Steamship Company no long
er have the same president. Mr., John
NJ. Egan, who has been president of
the three companies, rendered his res
ignation as president of the Steamship
interests yesterday. and Major j.
F. Hanson of Macon, chairman of the
board of directors of the Central Rail-
way, was elected to succeed him.
A special meeting of the stockhold-
ship Company and New England and
Savannah Steamship Company
was held at the office of
Messrs. Lawton and Cunningham, gen.
eral counsel for the company. Those
present at the meeting were Maj. Han
son. Mr.. Egan, Mr.. Malcolm Maclean,
Maj. Edward Karow, Capt. Henry Blum
and Col. A. r. Lawton.
Owing to the pressure of business in
the management and operation of the
railway lines of the Central, Mr.. Egan
found that the demands upon his time
by the affairs of the Ocean Steamship
Company We're such as to make it nee
essary that he resign the presidency of
the latter.
A segregation of the business of the
Ocean Steamship Company aud the
Central Railway Company will be COM
pleted with Mr.. Egans REIMBURSEMENT
of the duties of president of the for
mer. Nearly two years ago the move
ment to make separate and distinct the
operation of the two companies was
started. The traffic of the steam
ship company was then removed from
the management of the traffic manager
of the railway, being placed in the
hands of a new official, whose head
quarters, instead of Savannah, were
eStd DllSneQ III New Ork. Inc SdVaQ-
nah agency, too, which had been dual,
was divided, so that one agent repre-
scented the steamship company and an
other the railway company. Thus it
may be seen, the creation of a new
president for the Central is in pursu-
ance of this policy.
AS the charter of the steamship
Company, which was granted by the
Legislature in 1872, will expire by limi-
tation on Aug. 26 of this year, steps
were taken for a renewal and extern
sion of this charter for a further period
of thirty years from that date, and also
for the adoption by the steamship COM
pany as a part of it's charter, of the
| provisions of the general law of Geor-
gia for the Incorporation of naviga-
ton companies. This is simply a broad
| ening of the present charter mower of
the Ocean Steamship Company and
does not mean any change in it's bust
ness.
The steamship companys bylaws
were also amended so as to authorize
an increase of the directors from five
to nine, or any less number, and the
election of a chairman of the Board
of Directors and a vice president, and
the creation of an executive commit
| tee, all of this to be done in the dis
erection of the board. Under the power
| thus given to the board, however, no
| additional directors were elected, nor
were any additional offices created at
| this time.