The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1905-04-18
UNCLE SAM OWNS
PA ma IA RAILWAY
New Board of Directors Elected
Yesterday.
SHONTS TO BE PRESIDENT
SECRETARY TAFT MAKES a
STATEMENT.


and members of the Panama canal
commission were in session today at the
offices of the Panama Railroad COM
pany. Meetings of the stockholders
and directors of the railroad company.
control of which is now vested in the
government, were to have been held at
noon. but they were postponed for a
couple of hours. Those in attendance
at the meeting of the commission in
cluded Theodore P. Shontz, who is at
the head of the reOrganized commits
sion; Judge Magoon, Colonel Edwards
of the bureau of insular affairs; Will
liam Barclay Parsons, member of the
old commission, who probably will be
retained in the new one, and William
Nelson Cromwell
New Board of Directors.
The following new board of directors
of the Panama Railroad company was
elected today:
Theodore P. ShOnts. J. f. Wallace,
Charles F. Magoon, Mordecai T. Endi-
colt. Peter c. Hains, B. NJ. Harrod. o.
r. Ernst. William y. Cromwell, Will
liam b. Parsons, Clarence R. Edwards.
). r ObaIdia, r. l. Farnham and Ed
ward A. Drake.
The new board went into executive
session Immediately upon its election to
organize. Secretary Taft left the con-
ference about that time stating his in
tention to return immediately to Wash
ington- It is understood that practical
~ all the stock of the railroad company
is now In the hands of the government.
Tatt's Statement.
Before leaving for Washington Sec
rotary Taft said: With Mr. Shonts at
the head of the Panama Railroad com
pany ii is certain that it's affairs will
be conducted most satisfactorily His
experience as a practical RAILROAD man
VIII enable him to operate this railroad
Just as the Panama commission may
desire While the work of construction
is in progress. The entire official board
or the company Will be comprised of
either members of the Panama COM
mission or of men who are Interested
In the work of constructing the canal.
] expect that the canal commission will
nave concluded their investigation of
conditions and we will be able to report
our plans and recommendations to con-
gress in December.
Board of Engineers.
1T is the intention Of the administra-
ton to have appointed at an early date
board Of consulting engineers, which
VIII assist in this work. We desire to
have on this board a representative
rum NTtillldtly- + rance and England,
and with this end in view these nations
viii be urged to appoint one representa-
tive each.
The government is in complete CON
troll of all the stock Of the COMPANY 1t
is absolutely essential for us to control
the affairs of the railroad in the inter
est of the work of constructing the
canal We desire TO have the affairs of
the railroad conducted in harmony with
the commission, which viii have charge
OF the general construction work"
Officers Chosen.
The following officers were elected
by the new board:
President, Theodore P. Shonts; vice
president and general manager. John
r. wallace; secretary and treasurer,
T. A Drake; assistant treasurer SyI-
vester Deming; assistant secretary.
Thomas H ROsbOttOm: general coun-
sci, Sullivan & CrOmweIl: traffic agent.
II. L. Walker: aduitOr. John Adams:
superintendent on the Isthmus. H. C.
Prescott.
Executive committee. President
Shonts. Vice President Wallace.
Charles E. MagOOn. William Nelson
Cromwell, and Q. r. Edwards The
board ordered the double tracking and
re-equipping of the railroad and made
purpose
The directors and officers of the
company held a prOtracted session.
after which President Shonts made an
informal statement The directors
adopted resolution to the effect that
the president. vice president and gen
eraf manager Of the railroad shall
draw no salaries except those to which
they are entitled as officers of the
commission. The directors will draw
no fees for attending meetings of the
board. All travelling expenses in
CURED in connection with the work of
the commission or railroad company
Will be paid. President Shonts said
that he was not prepared to give any
details regarding the re-equipment of
the railroad and he added that moth
ing has yet been done toward the in
creasing OF the efficiency Of the steamer