New-York tribune., 1906-04-03
TAFT At r. r. MEETING
Parsons off Panama Board-Cond'-
tions Hopeful, Says Secretary.

Secretary Taft came here yesterday to attend the
annual stockholders meeting of the Panama Rail-
road Company in its offices, No. "a State street.
Others present Rear Admiral Mordecai T.
Endicott. General Peter c. Hans Major B. NJ
Harrod. General Oswald H. Ernst William Nelson
Cromwell and z. A Drake. directors. Secretary
Taft voted 6sss7 shares of the total 1000 and each
OF the others voted one share held as a qualihca-
tion for places in the directorate The absent stock
holders. holding share each. T. P. Shonts.
Charles z. Magoon j. D. de Obaldia. John F.
Stevens, ". Leon Pepperman, Clarence b Ed
wards and Roger L. Farnham.
The report for the ten months ending October 81.
1905 was submitted, with a memorandum covering
the business for the months of November and De-
cember. Action was taken providing that the fiscal
year shall hereafter end June so. to conform to
the rule in all government department business.
The report for the ten months of 1875 showed an
increase in expenses of S4o0262 50 and increase
Of earnings of SSo2 204 TO- decrease In the
ings of seSo5S 70 The entire increase of business
for the period $536,5l2 Is. with an increase OF
12s7 per cent in the relation of expenses to earn
ings.
W. Barclay Parsons being no longer connected
with the canal work. asked TO be dropped from
the board and w. Leon Pepperman. chief Of the
office OF the commission at Washington, was elect
ed in his place. The others were reelected on
GERS reelected were: President, T P. Shonts vice
president and general manager John f Stevens:
general counsel, Sullivan & Cromwell: secretary
and treasurer. E. a. Drake. assistant secretary
/. II. Rosshottom: assistant treasurer Sylvester
Deming; general auditor. E S Benson; auditor.
John Adams; local auditor, NJ Deevante: traffic
manager. R L. Walker general purchasing agent.
D. ". Ross; assistant purchasing agent and ship
ping officer. Alfred Anderson and superintendent
w. G. Rierd
Secretary Taft said that. while Engineer Ste
vens had his problems to solve, the work on the
isthn1us proceeding without discoura cement.
He said the problem of getting a satisfactory wa
ter supply at Colon was more difficult than at
Panama. because it was further from the source
of supply
The removal Of the Offices Of the commission and
Of the engineering force from Panama Culebra
he was certain would increase the comfort of the
canal attaches, who accustomed to more
light and freer for air than is TO be found
in any Spanish city.
The Secretary said he would not venture pre-
diction as to the type Of canal that will be pres
scribed by Congress. but said it was important
that II be known s possible that plans
might be made accordingly
1harles NJ Swift and F. H. Reed, members of
the syndicate that has the contract to build three
hundred miles of railroad in the Philippine Islands
OF Panay Cebu and Negros, called the secret ary
at the Panama Railroad Offices. Mr. Swift said
that in conformity with the of the contract a
corporation will be formed, 70 be known as the
Philippine Railway Company
Secretary Taft said that negotiations still in
vision of their bid for the construction pro-
posed roads in Luzon will make it acceptable 10
| the government.
Secretary Taft left the city last night on the
Robert c. Ogden special the Pennsylvania for
Tuskegee- Ala where he will take part in the ceie-
6ratIon OF the twenty-ffth anniversary Of Booker
address on The Future of the Negro to-rnorro
| and will reach Washington again Friday.