The Sun. [volume] (Price, Utah) 1915-1932, 1915-11-12

The Denver Post IN comprchen-
sive article explains that the recent
Denver and Rio Grande official turn
over was the outcome OF break In
the relations between the Gould inter-
cats and the banking house OF Kuhn
Loeb a Co. which mas undertaken 60
recognize the Missouri-Pacific road
now in the hands Of receiver. so In
consequence OF this condition Of af-
fairs. President u. y. Bush resigned
the presidency OF the Denver and ilio
Grande. Edward L. brown was elm
mated ~ vice president. and Il. y.
Watkins Of Denver a. receiver. The
Post further says:
II had been decided that Bush was
O. resign the presidency Of the Rio
grande In order Co devote all of his
attention 90 the reorganization Of the
Missouri-Pacific. In which the Uoulds
have heavy interests. and OF which he
II receiver. Bush was willing 10 carry
out his share OF the bargain hut in
sisted that Brown. who has done
splendid work In the upbuiiding OF
the Denver and lkio Grande In the
last three years. should be elected as
his successor.
eouiu bfcahs WIN bu~h.
Apparently he had the promise of
George Gould 10 cause the election OF
Brown. tor after the meeting OF the
directorate at which the changes were
made, he Issued a statement In which
he said. MY only comment on the
election II that George Gould has
broken his word Co me-"
The trouble between George Gould
and the Kuhn-I.oeb Interests began
last spring, when the former. a holder
OF large amount of Missouri Pacific
thrce-year notes. demanded cash pay
ment although he was aware that the
company could make no such settle
menL Through the banking firm ar
rangements were made for the eNten-
sion OF these notes. but Gould con-
scented with great reluctance and never
exhibited his satisfaction with the
deal He II reported 90 have sold the
greater part OF his personal holdings
In the company. which owns 90 Der
cent of the stock OF the Denver and
Rio Grande. and has been credited
with having made the work OF refln.
ancing the property undertaken by the
kuhn-i.oeb group OF bankers a. an.
fioult as possible. The bankers were
behind Bush In his demand that
Brown be promoted TO the presidency
OF the Denver and Rio Grande be.
cause OF the enormous holdings OF
the Missouri-Pacific In the property.
Gould sieIes Control
The Goulds have been In full con.
troll OF the Denver and Rio Grande for
many years. but recently have per-
mitted representation on the board
OF Blair A Co. the Deutsche bank and
kuhn-Loeb Co, all OF which in.
situations have shared In the financ-
ing.
|. Apparently. George Gould decided
that he would strengthen this control
BY seizing advantage OF the resigna-
ton OF Bush 20 place at the head Of
the road a man over whom the bank
Ing Interests have no control. and 20
make the Denver and Rio Grande in
dependent OF the Missouri Pacific.
whose destinies are predetermined on
account OF the misfortunes into which
Il was plunged several years ago by
George Gould. while he was president
OF the company. Gould was forced 10
resign the presidency OF the Missouri
Pacific by the Kuhn-Loeb group OF
bankers. though he was permitted 10
select his successor.
The attitude OF the Gould faction
In the Denver and Rio Grande board
II Indicated by statement By Presi.
dent coppell after the meeting adj
iourned, In which he said:
After consulting with some of the
large stockholders. both In this coun,
tf, and In Europe. We thoroughly he.
lieve and are convinced that % be