The Birmingham age-herald., 1905-04-18
PANAMA ROAD ID BE DOUBLE TRACKED Shonts is Now President of
 inc Line IF SUCCESS IS ASSURED ISs SS stary Taft Hopes to Have For 2 ign Governments Represented Among the Engineers for
 the Canal.
SUCCESS IS ASSURED

New York April 17.-The stockholders of the Panama railroad today selected the following directors:
 Theodore P Shonts, J. F. Wallace, Charles E. Magoon, Mordecai -inCicott. : Peter c. Haynes, H. M. Harrod, Oswald II. Ernst, William Nelson Cromwell. Will liam Barclay Parsons, c. Lareno. R. l.. Edwards, j. R. Obaldia, R. l.. Earnham and Edward A. Drake. The new board went into executive session immediately upon it's election to organize. The fol- lowing officers were elected by the new board:
 President, Theodore P. Shonts.
 Vice president and general manager, John F. Wallace.
 Secretary and treasurer E. A. Drake.
 Assistant Treasurer, Sylvester Deming general counsel, Sullivan & Cromwell: traffic manager, R. L. Walker; auditor, John Adams; superintendent of the isth- mus, H. G. Prescott; executive commit tee, President Shonts, Vice President Wal lace, Charles E. Magoon, William Nelson Cromwell and c. R. Edwards.
 Will Be Double Tracked. The board ordered the double tracking and re-equipping of the railroad. and made an appropriation of s1,25O,OOO for that pur- pose.
 The directors and officers of the com pany held a protracted session, after which President Shonts made an informal statement. He said that the matter of rates had not been considered The diree- tors adopted resolution to the effect that the president vice president and general manager of the railroad shall draw no sal aries except those to which they are en- titled as officers of the commission The directors shall draw no fees for attending meetings of the board All traveling ex- penses Incurred in connection with the work of the commission or railroad com pany will be paid.
 President Shonts said that he was pre- pared to give any details regarding the re-equipment of the railroad, and he add ed that nothing has yet been done with regard to increasing the efficiency of the steamer service to the isthmus.
 Before leaving for Washington Secre- tary Taft said:
 Taft Makes Statement.
 With Mir. Shonts at the head of the Panama Railroad company 1t is certain that it's affairs will be conducted most satisfactorily. His experience as a prac- tical railroad man will enable him to op- crate this railroad just as the Panama commission may desire while the work of construction is in progress The en- tire official board of the company will be comprised either of members of the Panama commission men who are in- terested in the work of constructing the canal. l expect that the canal commits sion will have concluded their investiga- ton of conditions. and we will be able to report our plans and recommendations to Congress in December. It Is the in- tention of the administration to have ap- pointed at an early date a board of con- sulting engineers, which board will as- sst us in this work. We desire to have in this board a representative from Ger many, France and England, and with this end in view these nations will be urged to appoint one representative each
 The government is in complete con trol of all the stock of the Panama com pany. It Is absolutely essential for us to control the affairs of the railroad in the interest of the work of constructing the canal"