New-York tribune., 1911-02-16
President of Road ForestaI|s An.
nua| Meeting at Which Fight
Was Expected.
BOARD TO HAVE NEW BLOOD
Deutsche Bank, Kuhn, Loeb g.
Co., Blair & 90. and John D.
Rockefeller To Be
Represented.

veloped by the Kuhn, Loeb e. CO. and
John D. Rockefeller interests, was sud
| denly ended Yesterday, when Mr.. Gould
issued a statement in which he an
! nounced that lie would retire as presi-
dent. and that representatives of large
! banking houses were to be admitted to
the board.
This statement. which came out near
the close of the business day, following
two conferences between Mr.. Gould and
Otto H. Kuhn, Of Kuhn, Loeb & Co., was
as follows:
Respecting various rumors Of a con-
fict for control of the Missouri Pacific
Railway Company. Mr. Gould states
that there is and will be no controversy
hetween the controlling interests; that
II has long been his intention, known 70
Mr. Rockefeller and Messrs. Kuhn. Loeb
& Co, to retire from the presidency Of
the company as soon as the corporation
could obtain the services of the best
equipped railroad man to take his place
that the offer of the place was made
many months ago, with the approval Of
his associates. 10 a railroad man Of the
highest standing. who was unable to
avail himself of il: that ever since va
rious men have been under consideration
and discussion: and II Is hoped that a
selection will be made IN the very near
future.
The stock owned and represented by
the interests referred to. Will be voted
at the annual election for the following
directors: George J. Gould, Fred T.
Gates, Cornelius Vanderbilt, +. 7. JEFF
frey. Paul NJ. Warburg. of Messrs.
Kuhn. Loeb & Co.: Edwin Gould, Edgar
L. Marston. of Messrs. Blair & Co.;
Kingdom Gould, +. d. Adams. the repre-
sentative in this country Of the Deutsche
Bank: J. J. Slocum. w. X. Bixby, o. l..
Garrison the latter two Of st. Louis.
and a vacancy left for the president TO
he selected. who is to reside in 81. Louis.
Mr.. Gould will become chairman OF the
board Of directors.
A month ago, il may be remembered,
Mr. Gould, in reply to questions concern
ing the report then current that he was
to retire from the presidency. said;
IF ! am going to resign l don't know
anything about it yet. / haven't heard
OF 1t. The report is not true.
The New Men in the List.
board are Messrs. Warburg. Adams and
MarstCn. and the retiring directors are
Howard Gould. r. VI. Galloway. Charles
S. Clarke and S. F. Pryor. Frederick T.
Gates remains as the representative of
John ID. Rockefeller, in which capacity
he has been a member OF the board since
1901.
The election OF the three bankers
places the Missouri Pacific for the first
time in line with the other important
railroad systems of the country, the pol
icy OF which has always been to welcome
the participation Of powerful banking in
terests in their councils. The Deutsche
Bank. which is among the most promi-
nent banking institutions Of Europe, has
long had relations with the Gould sys-
TEN. T.. -. Adams. that banks repre-
in the United States, is one of
the trustees Of the Missouri Pacific con-
mortgage bond issue. and the |
bank has had various financial dealings |
with other roads Of the system, one !
transaction having been the loaning 10 /
the Western Maryland Of $3,cO0O00 in |
1906 on 81 OOO.O0O Of it's first mortgage |
bonds as collateral. the bank bidding in |
The bonds in March, 1908, after the road |
had gone into receiVership.
Kuhn. Loeb & CO. have for many years
q cted as bankers for the Missouri Pacific, |
With occasional breaks in the relation;
and Blair &, Co. have also been identified
TO some extent with the financing Of the |
system. The entrance into the board of
the representatives of these three bank
ing institutions is REGARDED by Wall |
street as sgnifyng that plans for the
rehabilitation Of the property will be
formed and carried through and that
ample funds for their execution will be
available.
with this strong financial co-opera-
lion. which will provide capital from
Europe IS well as this country. and with
the placing of an able operating man at
tho head Of the company. it is expected
that the Missouri Pacific which during
the last few years has been falling be-
hind while the other systems in the
field have been advancing. will
greatly i1npIONt us IOSlllOD.
New Head May Re Elliott.
The Gould family. it is understood. will
.etain their stock holdings in Missouri
Pacific; but George J. Gould, while CON
inning i'm official connection with the
,ompany as chairman Of the board. will
M longer take an active part in the
AS he says in his state
nent. efforts have for "A long time been
presidency. and there is reason 10 be
icye that Howard Elliott. president Of
he Northern Pacific. has been selected
Tor the place and will accept it.
MIR. Elliott, who was born in this city
n December, 1850. and who has been en-
,aped I'm railroading since 1850. practi-
ally all the time with the Chicago Bur
ington & quincy. until his election as
PRESIDENT of the Northern Pacific, in Oc-
ober. 1903, is regarded as one Of the
,est equipped operating men in the
country, and as one of the men inter
.sted i'm the Missouri Pacific put Il
yesterday, The task Of building up the
Missouri Pacific Is one which would fire
he ambition Of any railroad man
The new president, it can se said. viii
ave a free hand in working out his
1ans for the botterment and develop
nent Of the Missouri! Pacific. He viii
make his headquarters la 81. Louis, In
Immediate touch with the property and a :
(out inued on aecond naKe