Evening star. [volume] (Washington, D.C.) 1854-1972, 1903-12-29
MURRAY IS TAE. Man
Scheduled for President 2 Of the
B. and O. B. r.
SUCCESSOR OF LoREE
ELECTION rs BEING HELD THIS
AFTERNOON.
Much Speculation AZ to Probable
Promotions-Leree's Big
Salary.
SUCCESSOR OF Of loREE

NEW YORK. December pa meeting OF
the directors of the Rock Island road, at
! which L. F. Loree, late president of the
Baltimore and Ohio. will be elected presi-
dent. will be held this afternoon.
Baltimore and Ohio directors will also
meet this afternoon and while no official an
nouncement has been made. 1t is understood
that Vice President Oscar Murray will be
| elected president Of that company.
According to a semi-of1icial statement
made in Baltimore last night Mr.. Oscar q.
Murray will be elected president of the Bal
timore and Ohio railroad. at a meeting of
the board of directors to be held in New
York city today, to succeed Mr.. l.. r.
Loree, who resigned to become president
of the Rock Island system. At one time
during yesterday, it was decided to make
an official statement to the above effect,
but later this was rescinded as courtesy
to the directors, who WILL announce the
election today.
The slate for promotions, following the
elevation of Mr.. Murray, is entirely profile
NAUTICAL, as suggested in The Evening Star
of yesterday The most prominently men
toned is Mr.. George L. Potter, the third
vice president. for the position that will be
made vacant by Mr.. Murray's increased
honorS.
AS the hand of Mr. Alexander j. Cassatt,
president of the PENNSYLVANIA railroad has
been SO clearly shown in the matter, 1t is
believed to be not unlikely that some Penn
sylvania official may be selected for the
first vice presidency. In Baltimore last
evening 1t was said that there was a pos
sibility of Mr.. George M. Shriver assistant
to the president, becoming first vice presi-
dent
Mr.. Murray was in Philadelphia yester-
day afternoon comforting with officials Of
the Pennsylvania railroad. He had talk
with President Cassatt and spent much of
his time with Mr. S. M Provost, third vice
president of the Pennsylvania railroad.
Estimate of Mr.. Murray.
After printing the semi official announce
ment of Mr.. Murray's selection, the Balti-
more American of today says:
Mr.. Murray is looked upon here as the
logical man for president of the Baltimore
oughly practical railroad men in the coun-
try, in addition to being entirely familiar
with every detail of the Baltimore and
Ohio system. 80,
He is acknowledged d peer of traffic
getters, as was shown by his magnificent
success along that line during the period OF
reorganization of the road, when he was
co-receiver with Mr.. Cowen in that work.
mo matter what his policy may be with
regard to the system after he becomes it's
president. 1t will undoubtedly be vigorous
and progressive one, and, he can be relied
upon to push the ever growing Importance
Of the Baltimore and OHIO as one of the
great trunk lines of the country
Mr.. Loree's Salary.
The New York Herald today says:
I'm connection with the retirement of W.
B. Leeds as president of the Rock Island
and the election of L. F. ,Loree. now presi-
dent of the Baltimore and Ohio as his sue
cessor, 1t was stated in Wall street 3yester
day that Mr.. Loree will receive the! highest
salary paid railroad president In the
United States. Various amounts were men
toned in Wall street among railroad men
as the salary which Mr.. Loree will receive,
the estimates ranging from $4,000 to $780,,
600 year
Directors Of the Rock Island refused to
discuss the matter. but it was stated that
the inducements offered Mr.. Loree to sever
his connection with the Baltimore and Ohio
were such that he could not help but seri-
ously consider them.
Some Of the officials which the Rock IS
land have already secured are known to
receive fancy salaries. and 1t Is the general
belief in Wall Street that Mr.. Loree will
have the honor of being the highest paid
railroad president In the United States
when he goes to the Rock Island.
1t was said in Wall street yesterday that
Speyer & Co. will act as bankers in an adj
visory capacity to the Rock Island when 1t
decides to bring out it's bond plan and re-
organization of the funded Indebtedness.
AS was exclusively stated in the Herald
a few days ago. the officials have definitely
abandoned the great $3.50 ZOO, 600 bond plan
which was to be submitted to the stock
holders on January next. No plan will be
submitted at that meeting, and the bond
plan will not come up for several months.
1T was reported that as result of the
decision of the Speyer firm to take up the
consideration of the 1tock Island finances it
was agreed that banking house should
nominate the successor to Mr.. Leeds. This
report was, however, officially denied by
both interests.
Mr.. Leeds. it was explained yesterday,
found that his health would not permit
him to devote the attention to the position
which the duties of the Office demanded.
Further, he will retain his interest in the
property and will continue to act In an ad-
visory capacity both as a director and as
an executive committeeman"