New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-06-05
FRISCO TANCLE CLEARS
Naming of Third Receiver
Seems Likely Solution.
YOAKUM WEDDING FACTOR
Delays Conference of Brides
Father and Bankers-Re-
ceivers Plan Economies.

No conferences were held in Wall Street
yesterday on the st. Louis & San Fran
cisco Railroad situation because b. F.
Yoakum attended the wedding OF his
daughter It was stated, however that
application will be made shortly TO tho
Circuit Court at st. Louis for third re-
ceiyer as the result OF an agreement
reached between the roads bankers and
the Yoakum interests. Who the third re-
ceiver will be was not made public, but II
was said he will be an operating man, VINO
will look after the interests OF the bond
holders. acting particularly as repre-
sentative of Speyer & Co.
An indication that the third receiver
will terminate the alleged friction between
the Frisco management and its bankers
was revealed in the assurances that he
will work in harmony with the present
receivers, Mr.. Winchell and Mr.. West
James Speyer left yesterday afternoon
for Washington. This was at first taken
10 mean that the banker had suddenly
made his departure in connection with the
reports of a federal investigation into the
Frisco recevership, but this was later de-
MED. II was said at the Speyer omces
that his visit to the capital was OF a per-
sonal nature.
Activity in the interests OF the French
bondholders was revealed in the announce
ment that a protective committee naui
been formed by the National Association
OF French Holders Of Foreign SECURITIES
Maurice Leon. who has represented French
interests in this country in financial mat
ters on many occasions, knew nothing OF
such a committee. Mr.. Leon, however
will sail for Paris one week from To-Day
and while there will confer with banking
friends on the Frisco receivership.
A probable development in the general
situation will be the application for
oenarate receiver for the New Orleans.
Texas g. Mexico Railroad. This action
however, will have to be taken uy 'h7
protective committee, headed by William
Solomon g. Co. The Chicago q Eastern
Illinois already has separate receivers
and the two systems are pracucaily III
vorced Relieved OF the Brownsville line
and the Chicago g. Eastern Illinois II IS
baliaved that the receivership OF the
Frisco proper might be OF snort du:a-
ton.
With the return Of Mr.. Yoskum 10 inc
financial district to-day conferences WIN
the Frisco bankers will be resumed.
ST. Louis. June 4-Further evidence Oh
the intention OF the receivers for the ST.
Louis & San Francisco road TO inau-
gurate a policy OF strict economy was
given to-day when one OF the receivers
animated that B. +. Yoakum would no'
be retained as chairman OF the board
Mr. Yoakum now has no voice IN tne
affairs OF the road" said the receiver
| His .tatus will be determined after w
haze gone over the affairs OF the roae
with Circuit Judge Sanborn. IL IS pos
slble Mr.. Yoakum will be retained only
| in an advisory capacity"
The receivers. Thomas H West ana o.
I. Winchell, have gone TO ST. faui 10
confer with Judge Sanborn. 1t was stat
"a here to-day that the receivers would
save $4,000 a year by cutting salaries
of high officials.