New-York tribune., 1912-01-05
GOULD EXPLAINS CHANGES
B. F. Bush Succeeds Jeffery as
President of D. & R. G.
JEFFERY TAKES GOULD'S JOB
Purpose Is to Bring Whole Of
Missouri Pacific Under One
Operating Management.

Important changes in the management OF
the Denver & Rio Grande Railroad Com
pany were announced yesterday afternoon
following meeting of the board OF dl-
rectors OF the road. George !. Gould re-
signed as chairman Of the board and E. I.
Jeffery resigned as president, a place ne
has held twenty years. Mr.. Jeffery was
subsequently elected to the post vacated by
Mr.. Gould, and Benjamin r. Bush, pre'-
dent of the Missouri Pacific Railway. sue
ceeded him as head of the Denver & Rio
Grande Mr.. Bush was also elected a d.
rector in place Of ]. G. Andrews, who re-
signed to make room for him on the board
These changes give virtually the whoIe
Missouri Pacific system an identical oper-
ating management, and are a step accord
ing to a statement made by Mr.. Gould
after the meeting. in the direction OF bring
ing all the remaining Gould properties
under single operating management. This
is Just the opposite Of the policy recently
adopted by the Hartman lines of localizing
! the management Of the various roads OF the
| system.
| II was explained that Mr.. Jeffery al
| though resigning the cares incident TO ac-
tive management Of the Denver Rlo
Grande would continue to have charge OF
its finances and to exercise general super
vison Of the affairs Of the system. Mr.
Bush concerning himself solely with the
operating end of the management.
In railroad and financial circles 1t was
| the common opinion that the retirement oil
! Mr. Jeffery from the presidency was que
TO the desire of the controlling interests 10
place the active management OF the prop
| erty in the hands of a younger man. MI
! Jeffery now being in his siXty-ninth year.
| Following the meeting Of the board
George j. Gould gave out this statement
which he said he had run off, himself
concerning its action:
This change has been under consideration
| by MIR Jcfrery and myself FOR a long time
! Indeed Mr. JeffeTy seriously considered de-
| clining reelection at the company last an
nual meeting and some intimation II ms nS
! purpose then became public but largely on
account OF Mr.. BuSh's desire to become
! thoroughly cOnversant with the MlssGGiI
| Pacific situation before taking over adul-
! tional duties and somewhat because or my
own reluctance to permit any change IN
relationship that for so many years mas
| been so satisfactory and COngenidl TO ne
personally, action was postponed untll 'ne
! beginning of the new year.
one OF the principal purposes OF the new
arrangement, of course, is 10 take HnotheF
! step toward the ultimate object oi hrlng-
! ing all of the properties belonging TO the
Missouri Pacific family under a single op-
Grating management directed by oihClals To-
Gated at traffic centres upon our lines.
We are proceeding Conservatvely, indeed
| tentatively in carrying this Idea into prac-
] tCo. but we feel that the very evident sue
! cess of our initial step in the case or MIS-
| souri, Pacific justihes the belief that In
Welding to the manifestly prevailing ten
! dency we are adopting "A sound policy.
/ Another and equally important purpose OF
/ the change is to afford Mr.. Jeffery the re-
/ lief from the burden Of supervising oper-
ating details and to enable him 10 devote
/ himself to the broader questions OF policy,
and particularly to make it possible for
/ him To- advise and assist me In connection
with the financial affairs Of our various
While Nir Bush will take over the duty
! Of managing the physical properties OF the
/ Denver q Rio Grande system, Mr.. Jenery
will continue to have charge OF It's finances
and will Of course exercise general super
! vision over the affairs Of the companies
! composing It,
Mr.. Jeffery thinks the change will result
! i'm improving the operating efficiency OF the
/ properties. and the other members Of the
board. including myself, are the more Will
! ing 10 accept his Judgment I'm the matter
/ because by doing so so we have secured Tor
ourselves an opportunity to honor him and
! for the company and all Of our allied enter
prises the continued benefit OF his great
| experience and conspicuous abilities.
| The Denver q Rio Grande controls the
! Western Pacific Railway through owner
/ ship Of majority Of It's stock The latter
road extends from Salt Lake City, where it
connects with the Denver e Rio Grande,
to San Francisco. The interest in the out
standing Si9925,"o first mortgage bonds of
the Western Pacific is guaranteed by the
/ Denver & Rio Grande, and in order TO
establish a fund to take caro- Of this inter
est the Denver q Rio Grande last June
passed the dividend on its preferred stock
Mr.. Jefery is still president Of the West
ern Pacific, but it is understood that Mr.
! Bush will succeed him in that office also
/ in short time.