Los Angeles herald., 1907-05-05
.LOEB'S NEW JOB
CAUSE OF TALK
HIS FITNESS FOR POSITION
QUESTIONED
Argument Put Forward That Political
Training VIII Not Count Much
in Managing Street Rail-
way at Capital

Special Correspondence of The Herald
WASHINGTON, D. c., May 1.-The
report that Secretary William Loeb,
jr., will sever his connections with the
president to become president Of the
Washington Railway and Electric COM
pany has naturally attracted consider
able interest, especially in this city.
The company in question is COM
bination of all the street car lines not
in the Capital Traction company sys-
tenn and with one exception controls all
the suburban traffic. 1t was organized
about six or seven years ago and took
over a number of valuable properties
as we'll as others whose value con-
sisted mostly in prospects. Because OF
the growth of the suburban popula-
ton and the heavy increase in traffic
| the investment promises to 3roVe very
profitable, as most of the money eX-
| ended in purchasing and re-equipping
| the roads was realized by the sale OF
| LondS and of some preferred STOCK.
| Most of the value of the common ana
preferred stock represents the profit
| of the promoters.
The organization was effected by
| Frederick c. Stevens, a local banker
now Superintendent of public works of
New York under Governor Hughes.
Brigadier General George H. Harries,
formerly a prominent newspaper man
| in this city, has been the executive
head of the corporation, whose presl-
dent is former Representative Alon
| McDermott of New Jersey. While the
roads were being put upon their feet
| the stock was tied up meth hands OF
| trustees, but a few days since the
| trustees met to declare a dividend upon
the preferred stock, thereby indicating
| that the financial condition of the road
was such that the trusteesh1p could
be dissolved.
| A large quantity of the STOCK mas
been recently accumulated by local IN.
| vestors and it is said that because OF
their wishes the position of president
will be offered to Mr.. Loeb. without
disparaging Mr.. Loeb's ability the
| friends of General Harries point out
that it has been under his active dl-
rection that the system has been put
upon a paying basis. He is universally
popular with the officials and men OF
| the system and has amply demon
| strated his ability in the MANAGEMENT
of such property. On the other hand,
| while recognizing Mr.. Loeb's political
tact. his fitness for the management OF
| such properties has never been tested
For these reasons it is believed that
even should Mr.. Loeb succeed Mr.. NC
| Dermott. the active management of the
lines will continue with General Har-
ries.
Speaking of the prospects of the next
Repuhlican nomination, Elmer Dover,
secretary of the national Republican
committee, said: mo person can begin
| to fell accurately which way the wind
will blow until next December, when
the first delegates to the convention
will be elected in Louisiana, Oregon,
Alabama and Alaska. Like the first
states in the roll call of a convention,
the selection of those delegates will
lforeshadow sentiment and have an eff
feet"
The Republican national committee
will meet in washington in December
to decide upon the place and time OF
holding the next convention. Seattle'
Kansas City, st. Louis and Chicago
are already candidates for the honor.
and a number of other cities, among