The Birmingham age-herald., 1911-04-19
BUSH IS PRESIDENT
 MISSOURI PAC|FIC Gould Faction Wins Hard
 Fought Contest OPPOSITION RESIGNS
Kuhn, Loeb & Co. Withdraw as Bank CTS for System-Bush Is Former Governor and Acquainted
 With Railroading

With Railroading
 New York. April 1S--Although recently forced out of the position himself. George J. Gould. opposing the Rockefeller-Kuh Loeb Interests, brought about the election today of B. F. Bush as his successor as president of the Missouri Pacific railway, defeating the opposition candidate, David R. Francis. former governor of Missouri.
 MT. Bush is president of the Western Maryland railway.
 The victory of the Gould faction was followed immediately by the announce ment of Kuhn, Loeb & Co.'S withdrawal as bankers for the system and with the resignation of Paul M. Warburg, the com pany's representative on the board of dl- rectors, and of Cornelius Vanderbilt, an ally. Edgar L. Marston, representing Blair & Co. Fred T. Gates, representing John D. Rockefeller, and E. D. Adams, representative of the Deutsche bank, voted against MT. Bush, but did not sever their connection with the board. It is rumored. however, that Messrs. Adams ana MarStOn VIII TeSlBn diso, dltHouSh II this cannot be confirmed.
 After the meeting both George J. Gould and Kuhn, Loeb & Co. issued statements explaining their side of the case, MT. Gould regretting personally the withdraw al of Kuhn, Loeb & Co, but congratulate ing the road on the selection of MT. Bush. Kuhn, Loeb & Co.,, on the other hand.
 mi Mir Bush and that because of his election MT. Warburg and MT. Vanderbilt felt Unwilling to share responsibility in the management of the company under these circumstances.
 Gould Issues Statement
 MT Gould in his statement said:
 'The board has, I think, made wise choice in selecting B. F. Bush as presi- dent. He is familiar with the conditions on the line and with the affairs of the company gained while in its employ some years ago. was much influenced in my advocacy of his election by the esteem in which he was held by MT. Rockefeller, who is so largely interested in the West ern Maryland and who next to our fam ily the largest stockholder in Missouri Pa cif1c.
 "My personal relations with the several members of the firm Of Kuhn, Loeb & Co. have been SCI pleasant that was reluctant to conclude that the continu- ance of that firm as bankers for the prop erty was not to the corporations best in- terests. I part with them with personal
 .,i mt atc in the I1nfOn and Southern Pacific, both essentially competitive lines to the Missouri Pa- oific, made a continuance of their rela- tionship as bankers, in my judgment in- advisable for the stockholders of the Mis- souri Pacific, as well as for the pub lie Lately when they advocated the election of former Governor David Fran cis to the presidency of the property I could not but feel that their influence was not helpful one for the property, for though Governor Francis has my respect as a public man, his efficiency as rail- road operator was not quite so apparent to me-"
 As given out by Kuhn, Loeb & Co.,. the vote stood to for MT. Bush. A mem Der of the board said after the meeting that the opposition to MT. Bush was grounded in the belief that he would not command the support of the banking com- munity, and that he had not sufficient ex- perience ir handling large properties.
 Missouri Pacific was the pivot of an excited and demoralized market all day long. Wall street had intimations that the board meeting would not be har- monious. and the whole market declined violently as consequence
 When George J. Gould retired from the presidency it was generally understood that in deference to thanking sentiment he would permit the Rockefeller r-Kuhn, Loeb-Vanderbilt holdings to assume large share in the management of the property, although the Gould holdings still remained dominant. Today's events have proved otherwise. But as the tone of the statement issued by Mir. Gould was cordial in it's reference to MT. Rockefeller the inference drawn by Wall street was that Mr. Rockefeller now holds the bal ance of power in the board.
 Sketch of Bush's Career
 Baltimore. April 1s.-Benjamin Franklin