The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1910-08-11
mot WORRIED
BY Wall street 4 |: |. |
President Stevens Says c. 8 @
Stock Has Real Value, Regard
less Of MIanipulators.
WAITING ON WESTERN COURT
Hooking Valley Matter Up in
Air With G. & O. in
Possession.

L . ! L
President George w. stevens, OF tho
Chesapeake and Ohio Railway COM
ipany, returned to Richmond yesterday
after an absence Of two months in
Europe. where he attended the Inter-
national Railway Congress, in Borne.
Switzerland. Most Of the day Mr..
stevens spent in his Office gathering
up the threads Of business which have
been out of his hands for some time.
lie was in conference; with General
Manager f. w. Grice. and otlier off,
cials Of the road. during the day.
Although he has enjoyed his vaca-
tion and visited some OF tho most
beautiful places in the world. Mr.. Ste !.
vens said that he was glad to be bacl.
home There is no place like Rich
mond. am always glad to get back.
he said,
In discussing the railway congress.
Mr.. stevens explained that railroad
men from all parts Of the world me-:
and exchanged ideas on railroads aud
their operation. Papers were read By
delegates In French, German and Eng
.lish. When a paper was read IN one
language. stenographer made =
transcript and Immediately interpret
ed it into the others, in order that al
those present might understand IT,
Much benefit was derived from the
exchange of ideas as to methods OF
operation. The congress meets every
five years. In 1906 1t met In WASH
ington. This was the eighth session,
Value of c. & o. stock.
"What has caused the drop OF Ches-
apeake and Ohio stock during the past
ten days?" President Stevens was
asked
"That is hard to tell. Chesapeake
and Ohio stock hasn't dropped much
more than other stock. proportionate-
ly, has it? 1t doesn't mattor what
those fellows In Wall Street marx
stock. know what Chesapeake ana
Ohio stock is worth. The fact that
Wall street marks stock at 65 or 50
doesn't really affect It's true value. !
think Chesapeake and Ohio is listed
about the same as United States Steel"
what about the Hooking Valley
property, which your company mas re-
Gently acquired?"
well, we are in possession and are
operating it. That is about all can
tell you at this time. The question OF
what rights the Chesapeake and ONO
enjoys in the Hooking Valley will be
determined this fall in the courts. un-
| til the final decision of the courts
there is nothing to be done except go
ahead and operate the system
I Not Opposing New Laws.
Referring to the report that the rail :
I roads We're contemplating opposing the
enforcement of the new laws enacted
by Congress against the TRANSPORTATION
companies, Mr.. Stevens said 1t was un-
true He said that the meeting OF at
torneys for the various big railways OF
the East at Portsmouth. N. H, was for
| f,f
what the new laws mean.
THE railroads simply want to see
.lif all understand the laws the same
| way We will then be in a position to
comply in the same way, he explained.
Although a meeting of the board OF
j directors of the Chesapeake and Ohio
will be held in New York on August
i IS, Mr.. Stevens said that he knew OF
no important matters that would be
! considered. He explained that the
4 Hooking Valley matter would hardly
! he acted upon. because there Is noth-
4 ing that can be done at this time.
A It is not probable that a successor to
! the late C. L. Doyle will be appointed.
4 e. w. Grice will continue as general
manager. Mr.. Stevens referred to Mr..
i Doyle, saying that the late vice. pres
ident was a valuable official ana one
J who will be missed
Thinks Ilond Will Survive.
4 When asked what effect the numer-
GUS laws passed by Congress would
have on the railroads, President Ste
vens smiled.
4 "You know, sometimes I think we
talk too much. There are times when
I silence is golden. suppose we will
survive" he said.
Il President Stevens will leave tonight
for tour of inspection OF the entire
system from Newport News to Chi
cago. He will inspect the new lines
In Ohio and Indiana. He said that he
h had often travelled over those roads
his trip Mr.. Stevens will visit the
j Greenbrier White Sulphur Springs
He will return to Richmond after the
directors meeting in New York or
August IS.