The Washington herald., 1908-01-19
LOEB is LOSER.
Continued from Page One.


that the general policies Of the company
had been freely discussed and that the
election Of the officers had been prac-
tically unanimous. Il was stated that
the directors had sought arst 70 avoid
action which would in any way disturb
the well-belng Of the company and its
property It was thought that the Off
GERS who had been so long identified
with the management of the system could
best carry on its affairs under the new
control.
Local Control Apparent.
The influence of the new control, it was
pointed out, was fully represented In the
new vice president and in the new execu-
tive committee. under whose direction the
officers viii act. Stress was laid upon the
fact that the financial management Of the
company had been placed in strong hands
and that future policies would have the
best talent Of the city at work upon their
development
1t was stated that Mr.. MeDermott had
consented to take the position of presi-
dent temporarily. 10 permit the directors
10 study the situation more carefully.
with view to finding an executive head
at a later date who should unite the quail
ities Of a good general manager with
financial ability of a high order. II was
stated that one Of the conditions OF Mr..
McDermotts acceptance of the position
was that some local man, of acknoWl-
edged financial ability, should be selected
10 At1
pany. This Is said to have dictated the
election of AlF Norment as first vice
president With this Well-known banker
at the financial helm. it was stated that
the directors were a unit in the selection
of the old operating force Of the system
Gen. Harries in Old Position.
The election leaves Gen. George II, Har-
ries as the executive head of the system,
from The standpoint Of operation, with no
immediate change in that policy. Gen.
Harries stated last night that he would
be allowed to work. as usual, sixteen
hours a day. with none to interfere or
stop him.
The election of the officers was about
the only topic OF conversation last night.
Much satisfaction was expressed every
where that the control Of the company
had passed over TO the hands Of Wash
ingtonians. and that the company now
would be managed by men familiar with
the needs Of the public as well as the
affairs, financial ard otherwise of the
corporation.
By most persons the failure Of the d.
reCtOTs l. elect Mr. Loeb president. after
all the publicity that has been given TO
his candidacy, was taken 60 mean that
he and the interests he represents are
down and out This may not prove 10 be
the truth. though that was the lnterpre-
tation pat upon the action Of the directors
by outsiders
NOrment May Be Promoted.
Some who discussed the new officers
thought they saw in the men named a
likelihood that AIr Norment. after be-
coming more familiar than he now Is
with the financial management OF tie
corporation. and after he bad had time
20 arrange other business affairs, would
be the logical candidate for president and
that his election as first vice president
was equivalent to a nomination for the
E.ghrr Office at some future date. when
il should be the wish Of Mr. McDern.5tt
TO step down.
The executive committee, under the
charter and rules Of the company. has
official direction Of the management This
committee. it was pointed out last night,
is specially strong "a local men. The
committee viii meet next Monday after
noon for organization. and 10 familiarize
the members with their duties. II was
stated last night that Mr.. Norment. by
virtue OF his position as nrst vice presi-
dent. would be elected chairman
Stockholders Of the company are well
pleased with the outcome of what has
been long and strenuous fght, first for
control of the property. and then for the
election Of a strong local board of man
agemeut Outsiders have great confidence
in the ability and integrity Of the newly
elected directors and officers, and sea
therein slow and sure betterment of the
street railway facilities Of Washington.
Subsidiary Company Elections.
Under the charter of the company the
directors and officers of the operating
company are officers and directors Of the
subsidiary corporations. their election
being acc omplished BY a formal vote to
that effect carried upon the ballots used
in the principal election.
The only exception 20 this Is found In
the operating force Of the Potomac Elec-
trio Power Company. Of which (. ). Mar
low remains treasurer and l.. T. Sin
clair general superintendent