New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-03-10
MISSOURI PACIFIC
DROPS THE COULDS
Control of TranSCOnti-
mental System Passes
Into Other Hands.
b. F. BUSH MADE
HEAD OF BOARD
Kuhn. Loeb & Co. and Guaranty
Trust Company Vote a Ma
jority of the Stock.

St. Louis, March 1.-Two important
changes were made here to-day in the
directorate Of the Missouri Pacifc-lron
Mountain system election OF Is. +.
Bush. president of the system, TO the
Craftsmanship of the board OF directors
Of the Missouri Pacific and OF the -.
Louis. Iron Mountain & Southern rail
ways. and the retirement of +. 1. JET
ferry. Of New York. a long time asso-
ciatc Of George J. Gould, from the d.
rcctorate of the two roads.
Sixty-three per cen. OF the stock 81
the Missouri Pacific was voted at the
annual meeting. A majority Of this
was cast by a proxy committee repre-
scented bv Otto II. Kahn. of Kuhn. Loeb
& Co, and by Alexander J. Hemphill:
Of the Guaranty Trust Company OF
New York.
That the proxy committee was able
20 control the election WAS accepted as
proof that George J. Gould and his as
sociates no longer controlled the So
called Gould transcontinental system
comprising the Missouri Pacific. the
Denver & Rio Grande and the Western
Pacific railroads. Kingdom Gould and
Frank J. Gould were not reelected
vice-presidents OF the roads. Mr. BUSH
ALREADY has succeeded Mr.. Jefery as
president Of the Rio Grande and West
ern Pacific. and to-day $ election was
said 10 indicate Mr.. Je9rey's retire
ment from the chairmanshlps OF the
directories Of those two roads.
The Missouri Pacific holds a large
block Of stock in the Rio Grande. which,
IN turn, has controlling interest IN
the Western Pacific. The new man
scement has before il the duty OF car
ing for a S25.000,000 note issue OF the
Missouri Pacific which natures June
I, 1915
The men reelected vice presidents
are f. J. Pearson, in charge of opera
ton; John G. Drew. accounts; ). VI.
johnson. traffic. and Finley ). Shepard.
in charge of the New York office. II.
/. Utter was elected secretary-treaS-
urer and will have his headquarters IN
New York.
Directors Elected.
The new directors Of the s.. Louis.
Iron Mountain & Southern are Nicholas
:. Rrady. Newcomb Carlton, a. j. Hemp
hill, Cornelius Vanderbilt, ". II. VIII
Jams and Festus j. Wade, the latter OF
ST. Louis.
directors Of the Iron Mountain re
elected are Benjamin T. Bush. Edgar L.
Narston, Edwin G.. Merrill, FINLEY >.
Shepard. Albert Wiggin. L. c. sim.
mons. Of 81. Louis, and {. A. Pratt OF
Little Rock.
old directors Of the Iron Mountain
eliminated in the organization OF me
new board are George J. Gould. James
Spever. +. r. Jeffery. Jacob +. Metcalfe,
JAY Gould and $. +. Pryor.
Cravath & Henderson, OF New lork.
were appointed general counsel for the
Missouri Pacihc-lron Mountain system
The passing Of George J. Gould and
the Gould estate from the Missouri
Pacific not only marks the elimination
of those interests from TINS system
but from the entire railway held IN
which they have been directly or lndl-
rcctly dominant for more than two
decades. The retention OF Finley >.
S1cpard on the Missouri Pacific and
Iron Mountain boards. il is understood,
was to give his wife, formerly Helen
Miller Gould. representation for her
personal holdings.
George J. Gould began his railroad
career before the death of ms rather,
Jay Gould. in 1902 On April 20, looS,
when he was twenty-tour years old' ne
was elected TO the pres idency Of the
Little Rock & Fort Smith Railroad.
One month later he was made first vice
president Of the Texas & Pacific. and
in January. 1898. ne became the head
OF that road A. the same time he was
chosen president Of the Missouri Pa
cifc, which Office he held until 1872,
when he resigned to become chairman
Of the board.
One-third in Courts Hands
or the vast system Of so-called Gould
railroads, representing more than H.
600 miles Of main track mileage, a,total
Of 5.S25 miles is now in the hands OF
tho courts, with the exception of the
Western Maryland. which was IN re
ownership. but emerged in control OF
tbe Rockefeller interests. The Wabash
Pittsburgh Terminal Railway and the
Wheeling & Lake Erie for the last
seven years have been run by the
United States courts. The Wabash
went into receivership, and later the
International e. Great Northern went
the same way. Within the last week
receivers have been appointed for the
Western Pacific.
BY extending the Wabash system to
the Atlantic Coast IN 1903 and pushing
the Denver & Rio Grande TO the Pa
cihc Coast by building the Western
Pacific, the head of the Gould family
succeeded in forming the only real
transcontinental railroad that ever op-
-,