New-York tribune., 1912-04-03
YDAKUN OUT OF NJ K. I.
pesions as Director and Member
Of Executive Committee.
puMoR OF HAWLEY SPLIT
He Says That He Needs More
Time to Devote to His
Frisco interests.

.;a,,in f. Yoakum, chairman Of the
"a ~ the ST. Louis & San Francisco
o.n,oad Company. has resigned as a Ill
.o. and member of the executive COM
,,.,os of the Missouri Kansas & Texas
railway Company. with which he has been
-.,ren,lv identified since the latter part
:, ION Az his office It was said that his
..,..,r.nt was due to his desire 10 have
- time 10 devote TO the management Of
~. frisco. and was without significance,
"A tho same explanation was given by as
e.,,stss Of his in the boards Of both roads
= ,be financial district. however. there
,,s q disposition TO see in his action
e,v.rance OF the relations between the
.v,.tpnn and Eawley interests. which have
s..,, closely allied for the last few years
!, Was in October, 1919. that control Of
-. Missouri. Kansas & Texas was aC-
,rirsd nv the late Edwin Hswley, James
eoover and Mr.. Yoakum. who was then
-t,oirran Of the executive committee Of the
chicago. Rock Island & Pacific and the
frisco Mr. Yoakum. llr Havley, Hans
vinterteldt O. Speyef & Co.. Frank A
ysnd.rlp. president Of the National City
BANK and q member Of the HaTley syndi-
ate and Frank Trumbull. director Of
,srious Hsvley roads, were elected 10 the
hoard and to the executive committee. Mr..
ysvIev explained Mr Yoakums psrticips.
,;on IN the purchase ~ the Katy" as FOL.
lows
oMr. Yoakum's lifetime work hiss been IN
building I'd and developing the Southwest.
This road THE Missouri. Kansas & Texas
serves that territory, and his connection
ut,h il will both aid in the development OF
the property and the building up Of the
country which il serves Mr.. Hawlev's and
Mr. Yoakum's relations have always bean
friendly in railroad properties, and this
only brings them together in more con.
crete and effective way
Less than two months later came the an
nouncement that d syndicate in which
Messrs. Yoskum and Hswley we're promi.
insnt had purchased from the Rock Island
the control of the Frisco which the Rock
Island system had held since lqo2 Current
reports were that this transaction had been
the outcome Of disagreement between the
Moore Reid controlling interests i'm the
Rock Island and Mr. Yoakum. arising from
the latter's entrance into tho Missouri.
Ksnsss & Texas ownership and manage.
ment Mr. Hawlev and Mr.. Trumbull
we're elected directors and members Of the
executive committee Of the Frisco. and
both the Frisco and the Missouri. Kansas
& Texas have since that time been com
monly classed ss among the roads aligned
With the Hsvley system
These two roads, however. operate I'm
PRACTICALLY the same territory. between
Ksnsas City and St Louis on the north.
asd~Texas Gulf ports on tho south. and
are thus competitors: and the retirement Of
air. Ioakum from official relation with the
Missouri, Kansas G. Texas. this step pre-
sumably sisnifying also the closing out Of
his stock holdings in the properly. is taken
tn some quarters as meaning that the com.
nlunity Of interest between the Frisco and
the Katy" is 10 be ended. now that Hav-
ley the close friend Of Yoakum. Is dead.
and that the two lines will become active
competitors for the business which is ex.
pected to develop with the opening Of the
Panama Canal
AsGnst that view. though. may be noted
the fact that Hans Winterfeldt. Of Speyer
4 Co. one Of the controlling factors in the
Missouri Kansas & Texas. IN which the
Hawley interests are dominant is still
director OF both that road and the Frisco.
and that James y. Wallace, who has been
director Of the former company for
many years, was only few days ago
elected director Of the Frisco TO fill the
vacancy caused by Mr.. Iawleys death.
At the annual meeting Of the stockhold-
ers OF the Missouri Kansas & Texas, to
De held TO-DAY AT Parsons, Kan, Charles
E schaff, VINO recently resigned as vice
President OF the New York Central Lines
west Of Buffalo. will be elected a director
IN place {. Mr.. Noakum, and the Othei'
directors Will be reelected. The new board
Sil organize at meeting in this city to-
MORROW, when Mr.. Schaff will be elected
president TO succeed \. \. Allen. whose
coming retirement was announced about a
week eeo