Vermont phÅ“nix. [volume] (Brattleboro, Vt.) 1834-1955, 1907-01-04
GREAT CAPTAIN OF INDUSTRY DEAD.
Alexander J. cassett, President Of the
Pennsylvania RalIroad-Some Projects
Which He Directed.


Alexander J. Cassett, II, president of
the Pennsylvania railroad system died
Friday from heart disease at his home in
Philadelphia. He was born in Pittsburg
and his father who was first mayor of
Allegheny City, was factor In great
financial and industrial interests of
Western Pennsylvania A. j. Cassett was
educated in schools of Europe, at the Uni
versity of Darmstadt, and graduated as
civil engineer at Rensselaer, Polytechnic
institute I'm Troy, n. Y, in 1853.
He entered the employ Of the Pennsyl-
vania railroad two years later as rodman,
and rose through various positions until
in 1871 he was made general manager of
all of the Pennsylvania lines east Of
Pittsburg and Erie lie was advanced to
the third vice presidency in 1880. 1t was
while in this position that he made his
first great railroad coup, securing for the
Pennsylvania system control Of the Pht-
adelphia, Wilmington & Baltimore rail-
road when the Baltimore q Ohio leaders
thought they held majority Of the stock.
The check for the transfer Of stock to the
Pennsylvania road was S1i,9i9 052.2O 1t
was the largest check which had been
drawn up to that time In any financial
transaction and it still hangs on the walls
of the treasury of the Pennsylvania road
as a tribute to the sagacity of Mr.. Cassett
While at the height of his fame in the
transportation world, only about AZ years
Of age, Mr.. Cassett voluntarily resigned
the Office of vice president In 1882, owing
It is understood, to the fact that he was
not in harmony with President Roberts's
conservative methods He then spent
several years in European travel during
which time he was elected to the di-
rectoratc of the Pennsylvania railroad.
He planned the construction of the New
York. Philadelphia and Norfolk railroad,
and designed the ferry transfer system
by means of which loaded trains have
been taken across Chesapeake bay the
past 20 years. He was called to the presl-
dency of the Pennsylvania railroad in
June, 1899. following the death OF Presi-
dent Frank Thompson. He at once out
lined a policy termed n community Of
interest" which swept away the tradi-
tions of years bur resulted In his pur-
chasing thousands Of shares of the Chesa-
pcake & Ohio, the Norfolk & Western and
the Baltimore x Ohio railroads. and thus
established a preservation Of joint in
terest in the soft coal roads which has
since proved a safeguard to the holdings
Of stockholders Under his administra-
tion a large number Of great improve
ments have been made on the Pennsyl-
Vana road. The transportation and sta
ton facilities have been greatly enlarged.
One Of the great projects planned since he
came to the head Of the road system was
the East River tunnels and terminal
facilities in the city OF New York. Mr.
Cassetts diversion from business cares
was found In the breeding Of fine horses.
Aside from being the head Of the Penn
sylvania railroad. he was president Of six
other companies and a director I'm %
concerns principally transportation com
panies banks and trust companies. His
wealth Is estimated at $50 900 900.