The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1909-12-30
RUMOR RUMBLES
ABOUT SHONTS
1t is Said That he viii Quit New
York Company and 90 With
the Combined Hawley
Lines.
DENIED AT HIS OFFICE
Has Been Getting sssIary Of $4,000
Per Year a. Of the
'ntsrbS Com
p

ported in l.lancial circles that Theo-
dore P. Shonts, president of the Inter
borough Rapid Transit Company, OPP
Grating the elevated and subway lines,
and of Interborough- metropolitan
company, the holding concern of the
Metropolitan traction syndicate, will
retire on February /.
The cause of Mr.. Shonts' probable
retirement, according to the report,
was the failure of the Interborough
company to recently obtain permission
to extend its subway system along
certain streets, due, it is asserted,
to antagonism manifested toward Mr..
Shonts in quarters which should be
friendly to the company. According
to the report, G. H. Ackert, now vice
president and general manager of the
Southern Railway, will succeed to Mr..
Shonts.
Mr.. Shonts has long closely asso-
ciated himself with Edwin Hawley.
and report was to the effect that
he is to be made president of the
combined Hawley lines.
At Mr.. Shont's Office it was strong
| ~ denied that he is to resign as the
head of the Interborough Company.
Mr.. Shonts came to the INTERIOR
ough on the recommendation of Paul
Morton, who had been selected for
the job by Thomas f. Ryan, but who
was put at the head of the Equitable
Life Assurance Society when Mr.
Ryan bought control from James
Hazen Hyde. Shonts had just retired
as chairman Of the Panama Canal
commission, where he had succeeded
John F. Wallace.
He was next made president Of the
Interborough-M -Metropolitan company, a
holding company for the Interborough
Rapid Transit company, and the sur
4 face lines. A year ago he was also
made president of the Interborough
Rapid Transit Company, succeeding
q. P. Bryan, practical railroad man
who had been brought on from st
4 Louis. The combined Offices Of Mr.
4 Shonts netted him yearly salary o.
/ about $4,000, and it is said that un
der his contract he had the privilege
of participating in certain syndicates
While he was at the head of the
Panama canal commission Mr.. Shont.
was president of the Toledo. ST. Louis
and Western, or Glover Leaf rail
road.
This fact aroused some antagonis1
in congress. He continued at thu
head of this road after he came tt
New York, and was later made pres
ident of the Chicago and Alton whel
the Rock Island interests sold ou
their holdings in that property to tn,
: Glover Leaf Last Monday Mr.. Shont
was elected president of the Mime
apolia and st. Louis, one of the orig
inal Hawley lines in the northwest
In the last year his name has beel
| closely identified with new Wal
street element, headed by Edwin Haw
j ley, and including Frank Trumbel
former president of the Colorado an
Southern; F. A. Vanderlip, presiden
OF the National City bank; H.
g Black, president of the United State
!. Realty and Trust company; B. +
3 Yoakum of the ST. Louis and Sa
9 Francisco. and F. P. Frazier, the whea
man of Chicago.
Mr.. Shonts went into the Chess
; peake and Ohio with Hawley and int
: the Missouri, Kansas and Texas whe
] that property passed last fall into tn
$ hands of the Hawley-Yoakum synd
cate.