The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1913-12-28
Howard elliott. Great Task.

uu aa6. New York Letter: The
knowledge that the property IS worth
a great deal more than the figures
which represent It's capital and bona
ed Indebtedness was perhaps the one
consolation which the directors had
when they from a sense OF duty de-
cifed to pass the dividend.
This action was thoroughly sus-
tanned by Howard Elliott, who recent
II became the executive head Of the
system Many OF sfr. Elliott's friends
have wondered why he should have
been willing to resign his comfortable
post as president OF the Northern
Pacific Railroad company to accept
the offer of the New Haven directors
that he become the executive chief
of that system The Northern Pacific
is prosperous Evid snces are plenti-
full that its prosperity will be main
/ tanned and increased The corpora
raised By legislative and political ac-
4 ton as some of the other railway
companies Of the United States havs
been. There were no salary tempta
tons to induce Mr.. Elliott to give up
his post at st. Paul and establish
new one at Boston, for the under
standing is that he was offered the
same salary for the New haven ser
vice that he had been receiving as
president OF the Northern Pacific
i Undoubtedly, Mr.. Elliott saw very
great opportunity opening up to him
in New England. He was master
Of statistics which told the story OF
population, OF transportation, OF man
ufactring industries and of commerce
in New England. He knew thar the
New England section Is the most
denseiy concentrated railroad rsgion
Of the United States He knew ap-
proximately what the money valuation
OF the physical properties OF the New
Haven company was, and It is Tery
Hkely that he realized that an oppoF-
,, tunity was opening TO him as. great
as that which was placed in the hands
Of George 2. Baer when he became
!. the executive head OF the Reading
system.
SIR Elliott is too wise and expert
enced a railway manager to look for
ward to the day when the New Ha.
; zen company can again earn enough
: TO pay 10 per cent dividends and a,
: the same time amass any surplus.
: These nor famous 10 per cent divi.
: dends were paid when the New Ha.
: ven company was little property
! with only $500, 900 capital It ex
, panded IN 1872 by taking In the ve.
2 eran railroad which vas built from
] Sprin ghelG through Hartford TO New
Haven, early IN the forties, one o.
4 the original railroads Of the Unitel
4 States. This consolidation made Z
g compact snug and easily MANAGE
railroad property. and II was at this
) tine that heavy individual invest
9 raents Il New Haven railroad stool
J, began 70 be made The rompany hae
3 then r=coyered from the heaTy 10 Sc
which It was compelled to beer or
: account u fraudulent over-issue o
: stock Of some twenty yearg earlie
2 by president Of the company. Tn
! courts declared that this stock mus
2 De add.d 10 the capitalization OF TIL
Q New Haven railroad
. Probably the president, Sir. Elliott
e does not look for such reyitalizing .
the New Haven properties as woul
3 enable it reasonably TO pay more thai
8 per cent dfyid ends But those wh
e have talked to him or those Who hav
. some knowledge o. the good faith an