The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-03-13
WILL MARK END
OF 20 YEARS. WAR

tho Wabash, which eliminated in Ram
says discharge. Al the annual meet
ing OF the stockholders OF tho road
several weeks later Ramsay made a
hard fight to GUST Gould. but was de-
fcated.
BY his decision TO build the Western
Pacific he again incurred the dispieas-
urc OF Hartman. who believed that it
would injurc the interests OF the South
crn Pacific.
About this time considerable lcgisla-
tion adverse TO the railroads WAS en-
acted in several of the Western states
and on account Of his lack OF rail
road training Gould was not equal Ia
the situation. The stocks OF his vari-
Gus companies were boycottcd in wall
street OIL account of the methods which
had characterized that end of his bust
ness. Gould was now hard pressed for
money. His Wabash Pittsbnrg Termi-
nal Lad been over-ca pitulized. aud ruin
seemed inevitable
The crash came with the panic Of
1907 which destroyed forever his Trans
continental dream. Four Of his roads.
the Western Maryland. Waba sh Pitts
burg Terminal, the Wheeling and Lake
Eric ana the International and Great
Northern. which ran Into Texas.
Went into lie hands of receivers with
in a period Of one year.
He did not give UP, however. but on
the contrary began new scheme to
recuperatc his properties. His first
step was to patch UP his differences
with Hartman, which was accomplish.
cd BY the arrangements Of the Western
Pacific 10 he operated OH AMIGA BILE re-
lations with the Southern Pacific An
other Plan adopted for raising funds
was to cut off the dividends from the
/ Missouri Pacific and turn back all earn
; ings into the company. Gould himself
was not adverse 70 sacrifices and did
not accept one cent salary from his
work as president OF the road About
this time it was discovered that Kuhn,
| Loeb & Co. who were agents for the
Hartman road had underwritten some
|s3o,000.o00 Of the Missouri Pacific bonds.
II WAS in 1909 that another of the
Goul1 properties ssed out Of the con
troll OF that family. This was occasion
cd when the American Telegraph IL
Telephone Go. took over the Western
Union.
lnkilng &c Situation.
An inkling as to the railroad silua-
ton was given during last summer
when the Pearson Farquhar Syndicate
which had been organized for the pur-
pose of gaining control of the Trans
continental road went to smash. Among
the many securities OF Which they held
were large blocks Of Nlissouri-PaciGc
and Wabash. These securities were
taken off their hands by Kuhn, Loeb
&. Co. With such large interest in
the Gould roads it became very evil
dent that this banking house would
desire Il voice in the control of the
affairs of so valuable ii property as the
Missouri Pacific. George Gould's meth.
DDS OF railroad management had been
discreditcd for many years and when
the demand was made a few weeks ago
for the list of stock holders 1t became
known at once that the fight to GUST
George Gould was on.
Gould. however. realized the weak
ness OF his position and agreed TO
present his resignation at the annual
meeting OF the stock holders on Tues
day An expert railroad man or wide
experience will be appointed Chairman
OF the Board Of Directors The retir-
ing members Of tho Board Of Directors
arc Frank ]. Gould Howard Gould.
Charles S. Clarke. Fl. -. Wcnson AMI
II. NJ Galloway all representatives OF
the Gould interests md their successors
Will he appointed by Kuhn. Loeb g. Co.
in the Rockefeller interests.
| Mr. Gould will still have n voice in
the affairs of the company but It will
| by no means bc tho dominant one H,
| eastern properties now in the hands of
! tho receivers, will be operated. IT is
said, as scparate companies