New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-10-03
AIDS NATIONAL RAILWAYS
Mexican Government Gives
Board Bonding Power.
8 N. BROWN STILL HEAD
u;s Re. election Taken to Mean
No More Interference
by Huerta.
fpv Cable TO The Tribune. |

yaxico City, Oct. 2--As a result of yes
..,dov,s meeting OF the stockholders Of
~ National Railways of Mexico and the
,ouncement that President L. n.
nrorn would remain at the head of the
svstem. considerable optimism has devel-
ned regarding the future Of the property.
Qualification is expressed particularly
.rar the permission granted the direc-
..rote 10 issue bonds to meet requirements
:. q sees fit and over the agreement be-
....An the company and the Mexican gov
lament by which the government &C
s.nts responsibility for such losses
,srough revolutionary activity as damage
- military trains, damage TO roads
,hrough the operations Of federal troops
"a loss of traffic due to the temporary
oonAscation of the ROAD by military au-
thorites.
Tho accounts Of the company showed a
,.iorce for the fiscal year of $500 pesos,
rich was carried over to the next year.
rne hv-lavs were modified to permit the
Nsw York vice-president TO be director.
The board Of directors was authorized TO
rosst any time before the next stockhold-
avs, meeting, in 1914. to make such an ar
,sreement Of the present issue OF pre-
,.rred and general mortgage bonds as
NAV be required to compensate for losses
sntailed by revolutions prior to or follow
ing the present time.
The announcement that Mr. Brown
,ould remain as executive president was
,sten. 10 mean that he had received posi-
t,vA assurances from Huerta that there
would be no more government interior
snce With the routine management When
the naturalization OF the railways was
effected the government declared that It's
on,v object was to influence the policies OF
tho management in the broader questions
involving the general economic interests
~ the nation, while permitting the eXecu-
tive officers a free hand in the operation
The administrations Of Diaz and Madero
lived I'D TO this agreement, but when
Huerta became President his first Minis
Ter of Communications, David de Id
F,ente. displayed a tendency 10 dctate
the minor details of management such do
ina appointment and dismissal Of en-
r.oves. and so on. This led to President
Browns resignation last July. but since
then De la Fuente has retired from the
Buerta Cabinet. II is supposed that the
new Minister will keep his hands on.
The personnel of the directorate became
known to-day. The New York and MeNl-
can boards remain distinct, each ooaro
having several new members. The men,
hers of the Mexican board who were re-
slActed are Luis Elguero. Edward N
BROWN Elias de Lima. Gabriel Mancera
and William 3. Mitchell. The ne" ineiii-
bers of this board are Guillermo BROCK
man. Isaac Bustamente. Adolfo ChristheD'
Eduardo I.obaton. Antonio Pliego Perez
Emilio Rabasa and Jose Simon.
OF the New York board William ID.
Nichols. Walter T. Rosen, Charles H.
sabln. Hans Winterfeldt, II. n. Nahf-
hans and Paul NJ. Warburg were re-elect-
Cd The new members OF this board are
D. P. Bennett, Henry W. Tart ana Nj
cardo Huerta The Mexican board has
twelve votes, the New York board ninety
The announcement that II. Clay Pierce
had retired from the New YORK poaru
and ]. n. Galbraith. general manager OF
the Waters-Perce OIL Company, IN Mex
leo. from the Mexican board was received
bore with interest, but without speclal
comment. The election of Jose Simon,
French manager of the National BANK VI
Mexico, 10 the Mexican board was taken
to Indicate a growing interest In the sys-
TEN among French capitalists. The elee-
ton of Henry w. Taft to the New YORK
hoard was well received here.