Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1910-01-13
Many CHANGES IN
ROCK ISLAND APE
NEAR RUM0R SAYS
Elevation OF Walker to Presi=
dency May Mean Elimina-
ton of Reid.


NEW YORK, Jan. I~s.-Important
changes are pending III the Rock
Island Company and its affiliated prop
critics other than the announced eleva-
ton today OF Robert aNlker, former
assistant general counsel OF the Chi
Ego, Rock Island and Pacific railway,
to the presidency of the. Rock Island
Company, 10 succeed Richard A. Jack
son, resigned.
These changes, 1t il said on high au-
tohrity, Involve the taking over of
Daniel q. Reds holdings or Rock ISL
and preferred stock by prominent bank
ing interests acting in conjunction with
certain foreign inanciers. According
to well-defined information Judge Will
lam II. Moore, of the Rock Island
Company, IS conducting the negotia-
tions for the bankers and the con
summation of the deal will carry con
troll to Judge Moore and the proposed
new interests.
Various reports in connection with
the resignation of Mr.. Jackson from
the Rock Islands presidency, were cur
rent today, but no confirmation was
obtainable in official quarters. 1t is
generally believed, however, that Mr.
~Jackson's retirement resulted from q
rupture of his hitherto friendly rela.
tons With Mr., Reid.
Mr.. Walker succeeds Mr.. Reid as
chairman of the board of the Chicago
Rock Island and Pacific Railway Com
pany. but Mr.. Reid remains as q
director of the Chicago, Rock Island
ana Pacific Railway Company, and OF
the Rock Island Company.
Simeon b. Chaplin, head OF the firm
was suspended for sixty days, and
Frederic ID, Countiss, the other board
member of the firm, for thirty days
Today the governors will makea state
rhent giving the discoveries made By
their Investigating committee and tht
reasons for their action.
Thus far the name of ID. G, Reid, q
member of The so-called Rock Islano
syndicate, has been connected with the
affair only in gossip, but 1t is generally
believed that he is referred to in tht
following statement given out by S. b
Chanin II Co. last night:
1--WE received an order on Decembe
81 from a customer to buy $1,000 Share
Of Rock Island common at the marke
at the opening. and, were expressl,
directed to give 1t out TO twenty broker
to buy 1900 shares each. The execution
of the orders caused trouble and ron
fusion. but in doing this We simpl,
acted as directed. and U custome
paid for the stock the following day.
we We're left without any discretion
IN the matter. We had no reason 4
beNeVe there was n purpose or desigl
on tne part OF me customer except I
ACQUIRE the shares mentioned n j
the manner covered by his instruction
to US, nor did we have the slightes
doubt on the SUBJECT.
'The result was purely an accident
when mas no. happened IN q sinila
case. the disturbance could not pos
s'nly nave peen foreseen n a sim
var occurrence is unlikely TO eve
hanpen again,
'Tnefe been no tmnutaflon @
~"%res'lon OF wrong-doing on on
part.
we VIII continue 70 ond,lc op
BUSINESS rs usual, but viii give on
our orders TOR execution on the Ne'
York Stoct EXCHANGE 70 other broker
~""-'"" the i~n'e.vai."
Resides Chanin and Conntiss, tn
partners In s. Y. Chaplin & Co. are ]
l.. Turner, William Ewald. I. ]. Couc
and Q. p. Cooke. They occupv hal
the ground floor of h Trinity build
q, Gates & Co. was housed. They too
over the business of Gates & Co. whe
4 the latter Tlflrln and n1AnN OF INA