The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1906-11-09

and o. by the Illinois Ccntral-This
United System IL Unified Puts I'm
der One Control $4,000 Miles OF
Track, Capitalized ut More Than
1900, O,OO0,OOO-Reasons for the Dep
osition of Fish as Head OF the Road.
New York, November by the
election today of ]. T. Harahan "a
president Of the Illinois Central rail-
road company to succeed Stuyvesant
Fish, it is believed that E. II. Hayri-
man has at last realized the fulfill
ment of his plan to control n raiiroai
line from the Atlantic to the Pacific
oceans. In this plan the Illinois Cen
trail was the one link missing TO COM
plete a line of track from New York
to San Francisco and Portland. Ore
gon; from the great lakes to the Gulf
of Mexico and from the gulf TO The
Pacific again. Until within a few
months the eastern terminals of the
Hartman system were at Kansas City,
Omaha and New Orleans. The first
important step in the direction OF
securing the desired outlets on the
Atlantic seaboard for the Union Paciilc
and Southern Pacific Is believed to have
been taken by Mr.. Hartman several
weeks ago, when it was reported that
one Of the roads under his control had
taken over control of the Baltimore &,
Ohio by purchase of block of 40, 900
shares Of the Baltimore & Ohio COM
pany, which was sold by the PelnsyI-
vania railroad company. This would
give Mr.. Hartman q route from Chic
ago and st. Louis TO Baltimore and
New York. To complete the ambitious
proposition for a continuous line from
ocean to ocean it was necessary only
to connect the western terminals OF tho
Baltimore and Ohio with the eastern
terminals of the Southern Pacific and
Union Pacific, and this purpose the
Illinois Central serves amply. Its line
from Omaha TO Chicago ties together
he Union Pacific and Baltimore &
Ohio, while the Illinois Central branch
from Chicago to New Orleans gives the
Southern Pacific entrance into Chicago
and the Seaboard.
Taken together, this system, IL uni
fed, puts under one control more than
$4,000 miles Of track, capitalized at
more than s1,700,000, 900.
James T. Harahan. vice president of
the Illinois Central was elected pres
ident of the company at meeting OF
the board of directors n this city by
a vote of TO 0, the adherents OF
President Stuyyesan: Fish not voting.
The meeting is reported To have been
stormy one.
No successor to Mr.. Harahan was
chosen, but the other officers OF the
company whose terms expired were re-
elected.
Shortly before the meeting the eight
directors who voted for Mr.. Harahan
sent a letter to President Fish giving
their reasons for refusing to vote for
his reelection.
The letter declared that In June last
without consulting the other members
Of the board OF directors. Mr.. Fish IS
sued circular letter to the stock
holders requesting proxies for bhe
annual election. At the next meeting
of the board, 1t was declared Mr.. Pea
body offered n resolution that a COM
mittee of directors including Mess-s.
Astor. Auchincloss, Goelet, Luttgen aud
Vanderbilt be appointed to request
proxies from stockholders for the an
nual meeting. II was declared Ar.
Fish defeated such action by leaving
the room and breaking quorum The
board then adjourned and during the
following week it was declared Messrs.
Fish, Peabody and Hartman signed
an agreement that the successor 10 w.
Morton Grinnell be selected b. a ma
jority Of the directors, that Mr.. Pea
body's resolution be withdrawn and
| not revived and that Mr. Hartman
asked that the Harriman-Kuhn-L Loeb
proxies be given to Mr.. Fish. This
agreement Is said TO have been made
to secure peace and provided that Mr..
Fish was To vote all proxies. The let
ter continued as follows:
Sat the meeting held Immediately
! after the signature of the paper. Mr.
Peabody withdrew his motion, all
proxies which could be controlled were
| subsequently delivered TO You and ycu