Durango semi-weekly herald., 1905-04-10
CAREER OF sAoNTs IS NOTABLE
Head Of Panama Commission an Es.
pert in Railway Work.

Theodore p. Shonts, just appointed
head Of the Panama Canal Commits
sion, has been president OF the Toledo,
Peoria and Western road for more
tnan year. He began his railway
career in 1891 He was born In Craw.
ford county. Pennsylvania. fifty years
ago and graduated with the class OF
1876 at Monmouth college. He was
graduated with the degree of h. A
and three years after the degree OF
NJ. A. was conferred upon aim by the
same institution. In July. 1881, he he.
came president Of the Iowa Construc
ton company. which was then build.
ing railroad, and year later he
was made general superintendent OF
the Indiana. Illinois and Iowa rail.
! road, which position he occupied for
| four years. In 1886 he became gener.
al manager of the same road and In
1898 was made president. 1t was in
the latter year tnat Mr.. Shonts and
Paul Morton secured practical control
OF the Three LIS. as the Indiana. Hi
nois and Iowa railroad is commonly
| called
The road originally was construct
| ed to provide an outer belt railway
for Chicago. Crossing as II does all
the railroads that enter the city, its
possibilities as a freight transfer me-
dium were excellent. The property,
however, had been allowed to depre-
| ciate because of lack of funds and the
business II was doing was not com
mensurate with its possibilities.
Shonts recognized this. and his warm
personal friend, Paul Morton. also saw
the opportunity which was presented
for investment
Together they began 10 pick up the
stock Of the railway. until they virtu-
ally had control. For year or two
they used the earnings fcr the better.
ment of the property, placing 1t upon
its feet physically. The personality
of the men also resulted in n large in
crement of business to the company.
AT thai particular time considerable
dissatisfaction was felt by the resi-
dents OF Toledo and Detroit over the
service which the Vanderbilt lines
were airording them and they sought
an opportunity to break the monopoly
| which those lines had upon certain
business.
Secretary Morton and MIR. Shonts
were quick to see the business oppor-
tunity. and overtures were made TO
the boards Of trade In both cities The
owners of the Three Is soon found
that their company could secure fay-
| orable concessions provided the road
| should be extended to these cities.
Mass meetings were held In Detroit
| and Toledo and the Three Is was in
yited TO come in. The management
of the road had practically decided to
accept the invitation, and It was an
nounced tnat surveys we're beine
made for an extension of the road
from South Bend 10 both Toledo and
Detroit. The VaIderbIlts realized
that such an extension meant the par
alleling OF the Michigan Central ant
me Lake Shore roads, which they dit
not desire 10 see done.
Accordingly, certain financial inter
ests invited Mr.. Morton to confer
ence. which was held in New York
At the close of that conference tn,
|
into the Vanderbilt column Of rail
roads.
The transaction made T. p. Shont
and Paul Morton rich men, II the.
we're not so before 1t occurred. Eacl
, is said to have received profit OF 81
900 900. but the real amount was $3.50
900.
After the Three LIS was purchase
, BY the Vanderbilts. T. p Sbonts too
an extended rest. Looking about 10
: another opportunity for investment /
I the railroad world, Paul Morton an
5 r. p. Shonts are credited with havin
: purchased a substantial interest,
not control, in the Glover Leaf. @
Y Toledo, ST. Louis and Western roat
{ OF this company Mr.. Shonts was mad
I president, as he had before bee
E made president OF the Three rs. u
t TO the alleged purchase Of this pro-
e erty by Shonts and Morton It ha