The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-10-24
'STOCKHOLOERSTO
NAME DIRECTORS
Chesapeake and Ohio's Annual
Meeting Will BE Held in
Richmond To-Day.
TWO MEMBERS HAVE QUIT.
Resignation OF Scott and Doolcy
Not Explained by Rail
way Officials.

Stockholders of the Chesapeake AMI
Ohio Railway Company will hold their
annual meeting in this city to-day.
with the election of two directors as
the most important matter which will
come up for consideration, according
to the public view. Except 10 say that
they were actuated by personal rea-
sons. there has been no explanations as
to why Frederick w. Scott ana James
II. Dooley resigned from the board at
a meeting held last week in New York
The designations will be acted on to-
day. and the understanding is that the
new members will be closely affiliated
with Edwin Hawley, the dominant
head Of the Chesapeake and Ohio sys-
teni.
In way, there has been more or
less secrecy about the retirement OF
MI. Scott and Major Dooley They
went on the board several years ago
when Mr.. Hawley acquired possession
of the Chesapeake and Ohio, and they
nave taken deep interest in the well
rare and advancement of that prop
erty. President George w. stevens and
Nice-President Decatur AxtelI are
members of the board. and they reside
IN Richmond Hereafter. they will
probably be the only local members.
as the directors elected to-day will
most likely come from New York
Nobody IL Talking.
Nobody connected with the Chesa-
peake and Ohio has been found who
was willing to discuss the report tina t
there has been more or less friction in
the board. although it has been COM
mon talk in banking circles that 1t
81 int
ieast. Moreover 1t is generally known
that Hawley is the real directing spirit
or the company, with power enough to
dictate the membership of his own
board and the question Of dividends
AT the same time, however. railroad
people admit that the road has been
wonderfully improved since the Haw-
ley interests got possession. the ad :
ministration of President stevens es-
peciaiiy within the past two or three
years having been highly commended
In certain quarters IL has been made
TO appear that Mr.. Scott would be-
come Identified in II financial way with
other railway properties which are
regarded somewhat as rivals OF tee
Chesapeake and Ohio. There has been
no statement to justify this assump-
ton, Mr. Scott himself having declin-
ed to discuss railway matters I'm any
ioi III. AS Il matter OF TACT. 1t is COM
mon knowledge in local banking cir
cles that the purchase of the Chesa-
peake and Ohio by Mr.. Hawley was
made possible largely through the help
of Nh. Scott. That would indicate that
they were very close together. while
Mr.. SCOTS resignation for personal
reasons might indicate that there is
no longer that same amount of cor
uiahty which existed three years ago.
Built Up Great System.
we'll known banker said yester-
dny that while Mr.. Hawley lis" the
Chesapeake and Ohio it was unfor-
tunate that two Richmond men should
retire from the board OF directors. MIR
Hawley has built up a great system
said the banker, "and he is still reach
ing out. happen to know that he has
hnbounded confidence i'm the ability of
President stevens, Just as I know that
President stevens is most highly re-
snrded by the leading railroad heads
OF the country. So. while two of the
old directors are off. there is absolute
~ no reason to suppose that Ii means
anything. Mr.. stevens insisted for
years that the earnings of the road
should be nut into improvements. That
was done the physical property being
second TO none IN this part of the
country. Then, when the road was in
money making condition, the directors
increased the dividend from ! per cent,
to per cent The Chesapeake and
Ohio is ali right, and even if there
should be friction in the board there
* not enough of II to hurt"