The Washington herald., 1907-03-16

Baltimore. Md. March 5-WinsloU S.
Pierce. president Of the Western Mary
land Railroad Company and F. S. Land
street. president Of the Davis Coal and
Coke Company and vice president Of the
Westery Maryland resigned their respec-
tive positions to-day at a meeting Of the
board Of directors Of the railroad and
subsidiary companies. p. r. Bush was
elected president Of both companies.
News OF the resignation Of Messrs.
Pierce and Landstreet came 10 Baltimore
partments in the general Offices had re-
ceived intimati0n Of the coming change.
Both officers have been regarded as ex-
ceptionally loyal Gould men. and were
supposed to have been placed in theis
respective positions by Mr.. Could for the
purpose Of carrying out his policy.
No time was lost in the naming OF
successor, and Mr.. Bush viii take charge
on March l9. which is next Tuesday.
CoBjectures Take Wide Range.
Neither Mr.. Pierce nor Mr. Laudstreet
viii talk, while local financial men. when
they heard tonight Of the designations
Of Messrs. Pierce and Landstreet. coaII
give no explanations. Naturally. the res.
ignation of Mr.. Landstreet and that ~
President Pierce, following so closely
upon the compromise Of the recent 500
oo0 suit growing out Of the purchase and
control OF the Western Maryland. leave
room for much conjecture. in view Of the
fact that the authorization OF Sl6am0o9g
Of securities against the Western Mar
land by the Gould interests has given re
to much comment, and is one Of the ex-
plantations offered for the public loss of
confidence in railroad management. This
enormous capitalization occurred during
the official tenure OF President Pierce and
Vice President Landstreet.
A more reasonable view OF the retire
ment of these officials is that MIR Gould
Is seeking to alleviate a condition in
which the officials of one Of his roads
are made to appear as the controlling
interests in others. and IS seeking 70
have each of his interests distinct ia its
active fplanaserarnt- f1-orf Al other in-
terests controlled by ldnf. Mr. Pierce IS
not only the personal attorney of Blr.
Gould. but he IS also interested in half
a dozen other pieces Of Gould property,
either as director or counsel
Landstreet recently purchased the house
built in Green Spring Valley by A. j.
Cassattfor his permanent residence.
Not a great deal is known about Bush
in Baltimore. He hasf not figured very
prominently in railroad transactions. but
is said to be a man well versed in trafflc
problems. He IS the fuel agent of the Ms
souri, Pacific. and is located in St. Louis.
lie is said TO be keenly alive to the posi-
bility of coal development and its Tela-
ton to the success of railroads. and 70
this fact may be largely due his election.
Pierce Performs His Task
In some quarters it was pointed out that
Winslow 5. Pierce is essentially a man
Of strict legal and financial training Tn
the formative stages of the Western
Maryland a man thus equipped was es-
sential to the development of the prop
erty particularly in adjusting it 70 the
needs and requirements Of fitting into the
Gould system
Now thar the work OF betterment and
extension is practically completed. it IS
believed by some that it is "A proper time
for the legal and financial executive 70
step down in favor Of the practical or
Grating man
Such Mr.. Bush is said 10 be His cleo
ton as head OF the Davis Coal and Coke
Company may merely indicate that the
railroad and the coal company are t.
work with a common end in view-the
development Of the coal properties to the
building up of the Western Maryland as
a carrier.