New-York tribune., 1906-11-24
n 6H. CHANGE RUM0RED
,,>sGEuENT CRITICISED
Mall Street Interests Seek to Depose
President UIIcOr.

-. -.5,caI changes would soon be
a, the Delaware & Hudson Companys
-ooer7ent were current yesterday III 'he
na''oe s..t-,c+ The stock of the company
- unusually active Of late, having gone
- 4-o7, 21slz on November II TO 2S4% on
---5s,- of this week. although II shared the
- weakness yesterday. closing ex-dlvidend
- nar cent at 22s. a net loss for the day of
= -oi1ts Just before the San Francisco earth
o-ake il was selling at around 2lS' declining TO
1se by May 2
Then began an advance which continued until
40 --se reached on June y, a maximum rise Of
80 - o,--e When this high level was touched
-. v-a-a ruu1ors. as al present, that the COM
= --ae aF,r1- 10 dispose OF its iron ore lands
> -. CF,srasugav region. These reports We're
,.,iaz 3 they are now denied. There were also
--,o-s that a stock Exchange house was plan
movement 70 effect change in the man
.r.1,e-r of the company, but they could not be
,--q--iqrad Such ruuors are again in cir
.fo,io-. and are this time much more definite.
= addition 70 the stock movement. there has
- fo- The last fortnight or so heavy trading
:. a7hsrv & Susquehanna first mortgage bonds,
g. rari5Iv advancing prices. These bonds are
,,,,-e-r5bIe into Delaware & Hudson stock at
he rate of one $1,000 bond for I've shares OF
s,ook and it is said that the movement in them
-snresents largely acquisition for conversion
-r-pcses by interests who are also buying the
cock and who are desirous Of seeing new
management in charge OF the property.
David Wilcox. who has been president of the
Delaware & Hudson since the retirement Of
T7obert N OIyphant from the Office in May,
,aa3 was formerly counsel for the road and has
,7- many years occupied q high position among
,be members Of the New York bar. With Sam
yal Spencer. president 0f the Southern Railway
COMPANY. he represented in general the inter-
esrs Of the o0u-rrys railways in the period ot
discussion preceding the enactment OF the Rail-
way Rate law.
Tn5er his administration the Delaware &
Hudson has made steady progress, bit he has
n5t cone up through the various grades of SER
vice on railroads. and. although Conversant with
the subject n operation. and a master Of rail-
road law. Is not strictly what is known an
operating man" Some Of the large interests
II the prOpe-lE- L Is said believe that the COM
rs-v could be made 10 show better results IL
az operating man were 10 be installed as its
executive head IN this opinion, il is declared,
they are acIuared by no sentiment Of hostility
70 President Wilcox. The retirement Of Mr..
Wilcox could not. however. unless by his volun-
ra-y action. be Effected for several months, as
the stockholders annual meeting will not be held
until next Nay.
L Is understood on excellent authority that
TIE dividend rate IS soon 10 be increased. This
Y.
vheu i vas raised from . per cent, with the
object Il was said Al the time. Of inducing the
scattered stockholders not 10 dispose Of their
holdings for which New York Central inter
ests were reported 10 be bidding. Il is also IN
6srstood that those desirOus Of e new manage
rasnt Will. i successful in obtaining II. insist
upon e full new appraisenent Of the connpany's
assets which. II is said, VIII make the aggre-
gate figures OF the assets much larger than are
shown.
As an example Of the need Of a revision -
these figures, the case OF the COmpany's former
headquarters IN COrtlaudt street was referred 10
Testerdav- This building. il was said. was sold
70 the Singer Sewing Machine Company inter-
ests for s. 10000 but is carried on the Della
ware & Huds0ns books at 2 valuation Of only
few thousand dollars.
Al inspection trip which may have had a
bearing on The recent buying movement in the
stock has been made within a few days by
parry IN which. Il was said yesterday. were
George : Baker. president Of the First Ma
iional Bank J. Rogers Maxwell formerly presi-
CEN II the Central Railroad Of New Jersey and
z business associate Of AIr Baker and Marcus
Mayer. one Of the largest stockholders Of the
Delaware & Hudson. These capitalists. il IS
understood, went over the Delaware & Hudson
system II company with 4. I. Culver. second
Flce-pres-del- ot the company. Charles ".
Morse, who was recently announced 10 have OBJ
tal1ed control Of the Hudson Valley Railroad
ware d Hudson Company. is CredibIy reported
70 have been an important buyer OF the latter
road stock within The last few weeks