New-York tribune., 1911-04-21
VANDERBILT WON'T SERVE
Declines Place on Missouri Pa
cific Board for the Present.
SPEYER AND MILLER CHOSEN
Banker and Practical Railroad
Man Succeed Directors
Who Resigned.

James speyer. the banker. and n. I. Mil
Ter. q practical railroad man. were elected
directors of the Missouri Pacific Railway
Company yesterday 10 succeed Paul NJ.
Warburg and Cornelius Vanderbilt. AL
though il was known on Wednesday after
noon that they had been selected 10 fill
these vacancies. the choice OF Mr. Miller
proved not 10 have been a final one. as
later the directorship which Mr.. Wander
bilt had given UP was offered TO Frank 4.
Vanderlip. who declined 10 enter the board
"at this time" The original programme
was then carried out and Mr.. Miller and
Mr Speyer were elected.
George J. Gould called the newspaper
men into his Office after the board meeting
and made an informal statement in which,
referring to the election Of Messrs Speyer
and Miller. he said; Il feel that the board
has been very materially strengthened by
the election OF these two gentlemen. and l
feel too, that we are now I'm perfect har-
nony and that there is no discordant note
anywhere"
Mr. Could went on 20 say that Mr.. Bush
had been elected president and also d.
rector Of the ST. Louis. Iron Mountain d
Southern Railway, succeeding Mr.. War
burg on the latter board. G. s. Clarke, he
said had resigned as a director and vice
president OF both the Missouri Pacific and
the Iron Mountain. adding that he had had
Mr. Clarkes resignation in hand for six
months He then called in Mr. Bush and
introduced him 70 the newspaper men
The new president, he said. would make
his headquarters in st. Louis. but would
be found at the Missouri Pacific Offices here
whenever he was in the city. He added
that Mr.. Bush had received large num-
ber Of congratulatory telegrams from ship
pers and commercial agencies in the West.
where he was highly thought OF. and that
he himself had received considerable
number of such telegrauis, among the send
ers being Augustus a. Busch. of 81. Louis,
and S. " Fordyce, of Kansas City.
Mr.. Gould said Frank a Vanderlip had
declined 10 join the Missouri Pacific board
because he did not see his way clear TO
accept at this time. Asked II this meant
that az some future time 5ir. Vanderlip
might become a member OF the board. Mr..
Gould replied. "I don't know; that's the
wav he put il"
He would not say whether the offer 20
Mr. Vanderlip came from himself or from
the banking interests.
What is the use of discussing that? We
are all ii unity here now" he said when
the question wss pressed. He added that
he presumed DIR. Vanderlips refusal 10
serve on the board was because of his
official connection with both the Union Fa-
ciNc and Southern Pacific companies
Asked " Mr.. Miller would take an active
mart IN the operation OF the missouri "a
cifc Mr. Gould answered. He viii act in
an advisory CAPACITY 10 me and 10 the
board"
Nv Could said he had noticed statements
-, the ures5 that L. l. Narston. Of the
6,777 of Blajr s Co. REPRESENTED the Rookie
fslIer interests in the Missouri Pacific ana
aslreS that II be made clear that NJ. Mars
Tor. represents only his firm.
Blair 8, Co" he added. have placed al
ti,,,es over 500. 900, 600 Of securities Of the
r~onertiae We are interested IN. and Mr.
Jar.ton will represent nobody here except
his Arm"
asked srecihcallv n Speyer & &C. would
- +ne recognized bankers for the Missouri
Pacific or II they would share the business
q
when We have securities 70 sell we VIII
eal than 70 vyhorever we get the best BID
from There will be no favor shown m
thar connection The firm that makes the
best offer will set the business.
Mr.. Could declined 70 say what salary
NJ. Bush would receive in his new ONCE
er-en+ - remark that II would not be
ero0 600 the amount offered 70 u. H.
7ruesdale. and. - has been understood. 20
Howard Elliott also. He added that Mr'
Bush's salary &c president OF the Western
MARYLAND had been $4,000 year. and
that he would not receive less than thar
sum as head % the Missouri Pacific
The financial district Is nor unaccus-
+crned 10 sudden changes in Gould pro
grarros. and the positive announcement
rv one OF the Wall street news bureaus
~esterday morning that the name Of Ar.
vsnderlip had been substituted for that Of
Mr.. Miller therefore did not come as an