The Mathews journal. (Mathews C.H. [Court House]) 1903-1937, 1908-07-09
News of Vngu1id
FITZGERALD AT HELM.

Norfolk Especially Thomas FitD
gerald former general manager. Of
the Baltimore and Ohio Railroad;
Hugh M. Kerr, cashier OF the Ma.
tiOnal Bank of Commerce, OF thif
city. representing the stockholders
and Harry X. Wolcott, personal rep
resentative of the court, who wer2
appointed receivers for the Norfolk
and Southern Railway, took charge
of all operations OF the system.
The first official act of the re,
ceivers, who qualified in 100000
bonds at their meeting, was to vacate
the offices of President Frank S. Can
non, OF New York; First Vice Presi.
dent Morris X. King, of Norfolk:
Second Vice President George w.
Roper, of Norfolk, and Third Vive
President Charles o. Haines, of
Raleigh, and to appoint in place Of
these officers as chief executive Mr..
Fitzgerald. That gentleman's wide
experience in the operating depart
ment is expected to do much toward
solving the practical problems con-
fronting the Norfolk and Southern.
The office of w. B. Gwynn, secretary,
was also vacated. All operating and
traffic officials are directed by the
receivers orders to report to Mr..
Fitzgerald at Norfolk. In the re-
ownership he represents the interests
OF the Trust Company of North
America, trustee under the Norfolk
and Southern's first refunding $751;
100000 bond Issue, and plaintiff I'M
der which the receivership was
brought about.
The receivership was a great sur
prise even to the high officials of the
line. 1t is emphasized by counsel
Tor the road that it is a purely pro-
tectiye measure and the result of
friendly litigation, designed to pre-
serve the system, which has been
linked together by Marsden J. Perry
and Oakley Thorne. In view of the
fact that a reorganization committee
was announced simultaneously with
the receivership, and the further fact
that an agreement has been reached
between the stockholders and bond
holders of the corporation, providing
for speedy reorganization, ii is pre-
dicted. that it will be only a very
short while before the road energies
from it's embarrassment When the
Knickerbocker Trust Company and
the Trust Company of North Ameri-
ca became embarrassed, last fall, it
was known that the Norfolk and
Southern would be compelled to
postpone a very ambitious scheme
OF improvements IL had partially en-
tered upon, but latterly it was I'M
derstood that ample funds had been
secured, and it was intimated that
the Rockefellers would put capital
into the road.
Frank S. Cannon, who retires as
president of the road, became the
executive head of the system follow
ing the purchase of the Norfolk and
Southern by Marsden j. Perry, of
Providence, R. l., and allied inter-
ests. He has since his incumbency
Of the presidency of the road, spent
much of his time here, and has APP
parently become much interested in
the future of Norfolk. He recently
bought in his own name for the
Norfolk and Southern that valuable
waterfront property between Roth
ery's lane and the present Norfolk
and Southern waterfront freight
wharves.
NJ. X. King, who retires as vice
president, has for 81 years held high
position with the Norfolk and South
ern, having served in the capacity
of general manager of the road up
TO a year or more ago. He was the
first general manager of the old Nor
folk and Southern Road, built by his
father, the late John S. King, and
first opened between Norfolk and
Edenton, n. c., in June, 1881.