The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1905-02-08
ROGERS ELECTED.
He and I'll. G. Frick Elected to
Santa Fe Board.
Entering Wedge for Standard
Oil Control of Santa Fe.
KENNA is IN TOPEKA.
Former Member of Board and
First Vice President Talks.
Santa Fe Playing Big Part in
Making Railroad History.

the man who has been unfavorably
held up to the public gaze and who has
4 been so severely censured by Thomas
Lawson for his connection in the alleg-
ed gigantic Amalgamated Copper swim
die, has been elected on the board of
directors of the Santa F'e railroad sys-
tenn to succeed Edward D. Kenna,
whose resignation from the board of
directors was acted upon today and
whose resignation as first vice president
and general counsel of the Santa Fe
has been accepted to be effective on
March l. Mr.. Rogers also becomes a
member of the executive committee in
place of B. f. Cheney.
An Associated Press dispatch from
New York says:
! New York, Feb. s.-H. c. Frick and
H. H. Rogers We're elected directors CT
the Atchison, Topeka & Santa Fe Rail-
way company at a meeting of the Atch-
ison board of directors in this city to-
day. Messrs Frick and Rogers are both
interested in the Union Pacific Railway
company are understood to enter Atch-
ison as representatives of the Union
Pacific.
Henry c. Frick was elected to sue
ceed John G. Mccullough. Both Frick
and Rogers are right hand men of
Rockefeller, and the news of their
election today marks the beginning of
the entering wedge of the Rockefel-
lers for absolute control of the Santa
Fe.
The news as given out in New York
to the Associated Press announces that
the new directors are elected to rep
resent the Union Pacific railroad on
the Santa F'e board.
The Union Pacific railroad is one
of the lines of the Hartman group.
E. H. Hartman is the directOr-gen-
eral OF the Rockefellers, or the Stand
ard Oil in gaining control of the rail-
road systems of the United States.
1t is generally conceded that Har-
riman is the greatest railroad master
in the United States today.
The Santa Fe railroad has stood in
dependent of the various combinations,
but the news today would indicate
that the road was unable to withstand
the pressure which was brought to
bear to make inroads upon it's stock
for the purpose of changing the con-
At the directors meeting held in
Topeka in December, it became known
that the Standard Oil was seeking rep
resentaton on the Santa Fe board
The Standard Oil owned $4,000
shares, or enough to give it two rep
resentatives ON the board.
An agreement between the conflict
ing interests could not be reached at
that time, and the meeting passed
without the entrance upon the board
of the Standard Oil interests.
At subsequent meetings held in New
York things have been shaping them
selves for the announcement which
comes today.
1t is now believed that the bond is
sue which was recently authorized at
a meeting of the stockholders held in
ing the Standard Oil to get a larger
holding in the Santa F'e company with
out the attendant expense of a fight
for Santa Fe stock on the Stock ex-
change
The bond issue which was author
lied is a convertible bond issue. Hold
ers Of the bonds may exchange them
for common stock.
1t was announced that stockholders
of the Santa Fe would be allowed to
subscribe for the new bonds. 1t is
also known that q large quantity of
Santa ITe stock is held in small lots
of from 1 to 100 shares.
1t is unreasonable to believe that
such small stockholders would take
up any large quantity of the new
bonds.
Kuhn, Leob & Co, well known New
York brokers, who are identified with
the Hartman enterprises. or in other
words, the Standard Oil enterprises.
were the largest purchasers Of the
bonds offered for sale.
The Standard Oil with the oppor- /
tunity Of exchanging the bonds for
common stock readily increased its
voting power in the Santa Fe without I
the attendant cost of trying to secure /
control in open market where the /
price of stock might run UP to peril /
Gus heights.
The Rockefellers are credited with
having gained control of the Wander /
Dit lines, otherwise known as the New
York Central system, perhaps the
largest railway system in the east. The
Hartman lines, and the Rockefeller I
lines (proper) and the Santa Fe, to- /
gether with the Gould Pacific system, /
gives the Standard Oil a railway sys-
tenn of more than $4,000 miles whose /
billions of dollars
The lines under the Standard Oil
control reach practically all the
cities of any consequence in the United
States, and give that institution the
greatest power in the railway world.
F. d. Kenna, who resigned from the
Santa F'e board to make room for the /
rockefeller interests, is in Topeka to- |
day.
He will remain with the Santa Fe in
his capacity of first vice president and
general counsel for several weeks.
While it is quite generally conceded /
that Mr.. Kenna came to Topeka on I
account of pending legislation, it is I
sought to diplomatically deny it.
Mr.. Kenna has been in consultation /
with the legal representatives of the 7
Santa F'e here all day.
A reporter for the State Journal
asked him this morning if there was
any disposition on the part of the
railroads to antagOnize the maximum
rate law which is pending in the leg
islature in regard to the transporta-
ton of crude and refined oil
Mr. kenna remained non-committall
on the subject He would neitherl
deny or affirm the allegation that the |