The Goodland republic. [volume] (Goodland, Kan.) 1891-1907, 1905-12-08
". B. LEEDS is OUT OF IT
CUTS LOOSE FROM THE ROCK IS
LAND COMPANY.
Caused by the Break With the 8IoOres
and Dumps Holdings on Market
After Retirement.

William B. Leeds, whose meteoric
rise in the world Of finance and rail-
reading caused comment the country
over only a few years ago. and who
served for a time as president Of the
Rock Island railroad. has severed all
connection with the Moore brothers
and with D G. Reid, Mr. Leeds re-
signatiOn as a member Of the execu-
tive committee OF the Rock Island and
as a member Of the board Of direc-
tors has been rendered and accepted
His retirement and break with the
MOOres are due to friction which has
existed for some time and which grew
10 such proportions that it could
no longer be kept within business
bounds
The seriousness Of the breach is IL
Illustrated by the alleged fact that Mr..
Leeds retirement was followed by the
dumping Of all Of his Rock Island Sc
curities on the market It is under
stood that he refused to give the
MOores an opportunity to buy his
stock at the market price or even at
a substantial advance.
The MOOres are said to have been
willing to take the Leeds holdings and
pay him a large bonus for them. In
stead Of giving them the option to do
this he is said to have let go Of all his
stock, thereby causing the sensa tional
break Of more than seven points in
the preferred, which occurred one day
last week.
The amount Of the Leeds holdings
is estimated at about S1,5OO,OO
shares. together with a rumor that the
company would pass the preferred di-
yidend, sent Rock Island downward
with a shoot After a break OF more
than seven points in one day the stock
recovered about three points, and the
recovery is said to have been due to
the support which the Moore crowd
gave it in the emergency.
Several stories are afiOat regarding
the break between the Leeds and the
Moore interests. The most accredited
one is that the cause is to be found
in social differences. Many amusing
stories are told Of the efforts made by
the MOOres and Leeds to prevent per-
sOnaI disagreeements from breaking
up their business relations These diff
ferences, however, finally crept into
the close friendship between D. G.
Reid, chairman of the board, and Of
the executive committee, and Leeds
and eventually extended to the
MOOres and Leeds.
Not many years ago Mr. Leeds was
a division superintendent on the Pan
handle road. He became interested in
the original American Tin Plate COM
pany Of Richmond, Ind, where he
lived, and when the MOores started to
organize the tin plate interests Leeds
naturally was in on the deal.
He assisted the MOOres in getting
control Of the American Tin Plate
company and putting it into the gen
eraI pool, which afterward became the
trust and which also was called the
American Tin Plate company. Soon
after that he went to New York as
chairman Of the board Of the tin plate
company, and when the Moores pur-
chased control Of the Rock Island he
was in on that deal
He had ambitions in the railroad
line, and so the MoOres made him
president Of the Rock Island. AS a
railroad president, however, he is said
not to have been an unqualified sue
cess c. H. Warren was sent to Chi
CagO to show him how a railroad
should be run Warren succeeded no
better, and the MOOres finally obtain
ed a new president. At that time,
however, everything was harmonious,
and il was not until later that fric-
ton arose which caused the break.