The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1906-10-26

stuyVesamt Fish VIII Lose Con-
troll Of Illinois Central.
Sells Out to Hartman for 10
Million Dollars.
MAKES A STIPULATION.
New Head Of Road Is Not to Be
Wall Street Nan.
Gossip and Matters Of Interest
in Railroad Circles.
HAKES A STIPULATION.

Chicago, Oct. 2s.-It is said on high
authority that, for a consideration OF
10 million dollars and assurances that
the control of the railroad will pass to
an administration that has never been
Identified with the speculative interests
IN Wall street, Stuyvesaut Fish has
agreed to retire as president Of the Illi-
nois Central in favor OF a successor, 10
be selected by stockholders represent
ing equally himself and Mr.. Hartman.
This is the information CLEANED from
men whose standing has never been
questioned. It is said that q meeting IN
New York last Monday afternoon the
last chapter in the bitter fight waged
for control OF the Illinois Central by MI
Fish and MT Hartman was completed
and by a vote Of all concerned It vas
decided to offer the presidency TO George
J. Grammer vice president of the Illi-
pois Central, at a salary OF SIuV'VVo
annually on a teu-year contract.
The Plan Ratified
Tt is said further that the action ia
ken at the New York meeting was raul
fled yesterday at a meeting OF stock
holders friendly to the Fish administra-
tion. One of the Chicago conferees, who
Is represented as q Chicago bahheI'
voiced the sentiment Of capital aggre-
eating q million dollars as advocating
a continuance Of the policy promulgated
by A8r. Fish
This Informant did not conceal his
regret that Mr.. Fish had consented TO
retire from the presidency, but com
mended MI Fish's judgment IN the Sc
lection Of his successor. who, according
TO the speaker, would be acceptance 70
all the warning interests.
The financier said the chief obJectloil
OF Mr. E'ish's REIMBURSEMENT conIEot ~
the railroad had been founded upon tne
belief that the system would eNettudllS
pass to the control of Wall street spec
ulators, who would handle It for specu-
lative purposes and not for the interests
of the stockholders. Hundreds OF soutn-
ern- people, for instance, nave al theH
savings invested in limos Seiletal'
They are small holders
Admitting that release of control was
Of vital interest to the stockholders, the
banker expressed the opinion that the
earnings Of the system as dlNloenQ
paving investment would not suner al
the hands Of Captain Grammer, VINO,
he said was distinctively traffic eX-
pert, and not an agent OF wall street
1t is said the selection OF Captain Gram
rner was made after the opposing inter-
ests had taken careful measure OF eacn
Of the others strength and realized that
the best man must be chosen. In case
Grammer refuses to accept, 1t Is NOT
known that there is a second choice IN
sight. Captain Grammsr left Chicago
yesterday for the east before he could
be asked his views.
A stockholder who attended the New
York conference said today that prior
to the annual Illinois Central meeting in
this city Mr.. Hartman had made an
offer of 10 million dollars, partly in cash.
the remainder in stock Of the company.
TO Mr. Fish to surrender control After
the annual meeting when Mr.. Fish sac
rliced a victory IN favor Of his constitu-
ents. it is said the offer was repeated
and Mr.. Fish accepted with the provis-
ion that he was to have an equal voice
with Mr.. Hartman in selecting his sue
ceesor-