Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1914-10-22
Maine centraI's New Board.


al the new railway situation in oul
State-Maine capital, Maine brains and
Maine integrity and business acumer
controlling Names great railway sys.
tenn. The facts in a nutshell are here:
The Maine Central directorate has
been reduced from II to IL members
Every "interlocking" director has
been removed.
Every director but one is now a
Maine man.
The new directors chosen are two
of the best known and biggest busi-
ness men in the State. And they are
Maine men first last and all the time
The new directors are Hon. VIM. T
Cobb of Rockland, former governor OF
Maine, and Hon. George E. Macomber
of Augusta. leading business man OF
Maine, who has won that distinction
by reliability and sound business prin-
ciples. His selection is particularly
pleasing to Augusta where nearly 10,
600 shares are held.
The total number of Maine Central
r. r. shares is 24S,SS6. The Maine
Railways Co. holds of these shares
15s.6o1~
The Maine Railways Co. is volun-
tary trust for the benefit of ALL the
stockholders of the Maine Central R.
r. and was organized solely to buy
all the Maine Central stock held by the
Boston & Maine.
This brings entire control to Maine,
as the Maine Railways Co. is managed
by three men: Morris Mcdonald,
Charles o. Bancroft, and Harry NJ.
verrill, all of Portland
OF the directors elected in October,
1913. Howard Elliott of Boston and
William Skinner of Holyoke. Mass,
resigned sometime ago; Alvah w. Sui
loway of Franklin, N H, was dropped
because he is a Boston & Maine direc-
tor Samuel Hemingway of New HAY
en-. Conn. and T. Dewitt Cuyler of
Philadelphia, because New Haven di-
-ectors; John E. Liggett of Augusta,
because an Eastern S. S. Co., director;
Fred E. Richards because he is in poor
health.
George E. Macomber of Augusta, one
of the new directors, has never been a
director in any of the railroad or
steamboat companies, is widely and
well known throughout Maine. He is
a banker. an agriculturalist. and does
an extensive insurance business.
Former Governor Cobb, the other new
member, is so widely known in New
England as to need no introduction. He
has resigned as director of the East
ern S. S. Co.
Elisha r. Brown, the only remain
ing director who is not a resident of
Maine, is large stakeholder and pres
ident Of the Stratford Savings Bank,
which owns 5000 shares.
II it were possible to add to the con-
fidence in the 1913 board, after drop
ping those names connected with other
enterprises, 1t has been done by add
ing the names of Hon George E, Ma
comber and Hon. William It. Cobb.
No business organization in New
England or the entire country. can
boast a stronger, more responsible ag-
gregation in conduct of it's affairs The
new board and the new conditions be-
speak progress and prosperity. Made
in America" is good slogan for
Maine people. but Made in Maine"
is a better. Maine industries
for Maine people is a tendency of the
times in our State. People are learn
ing to invest at home and to approve
the prosperity of their neighbors first
after themselves.
Advertise and develop Maine is a
growing inspiration; let's help it grow.
Wednesdays action at the Maine Gen.
trails annual meeting is indicative and,
we believe. generally endorsed by those
who have the interests of the State
at heart.
The Kennebec Journal congratulates
the stockholders and the patrons of
the Maine Central r. r. on its new
board OF directors