New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-22
St. Paul Stock
Drops as Action on
Dividend Nears
Tilt Between Armour and
Rockefeller Interests
Reported

Shares Of the Chicago. Milwaukee &
St. Paul Railroad declined from 1874 to
.C7is last week, and closed at 6s3., for
net loss from the preceding week OF
as points. This movement took place
on turnover Of $4,000 shares. Along
with the selling Of the stock the re-
port that the directors at meeting to
be held next Thursday will vote to re-
duce the dividend was assiduously cir
culated. Indications were that bear op-
erations did most of the selling. Il
was also persistently rumored that A. j.
Earring. president of the road. would
be relieved of the active management
Of the property. Both reports met with
denials in more or less authoritative
quarters.
Advices from Chicago stated the Ar
mour interests have taken an active
part in trying 10 force chsnge in the
management of the st. Paul system, but
have met opposition from the Rookie
Teller interests, who are said to be
strong supporters Of the Earring man
sgement. Mr.. Earring, who is near the
age of three score and ten, has served
ffty wears az an active railroad man.
He worked his way up from the bottom.
Say Younger Blood Is Needed
In connection with the effort made 70
bring about change in the manage
ment of the property, some OF those
most interested contend that there is
too much deadwood in the present con-
troll; that younger blood IS needed 20
make the system produce to It's capsc-
ity. On top Of this there has been CON
siderable jealousy, it IS said, over the
| fact that many of the st. Paul officials
and their business associates protited
personally when the Puget Sound ex-
tension was constructed. IL is esti-
mated that the value of the Milwaukee
Land Company's holdings along the
Puget Sound extension is in excess Of
StOOO00.000. This is controlled by the
st. Paul.
Il is reported that in the event that
| President Earring does decide 70 with
draw as the active head Of the road he
will he made chairman Of the board of
directors and Younger man will take
the position vacated. Howard Elliott,
/ Of the New Haven. has been mentioned
20 a possible successor The Armour
interests are said 10 favor Vice-Presi-
dent Byron, of the Chicago, Burlington
& Quincy.
Earring Favors Present Dividend
! The possibility Of cut in the divi-
/ dend rate is perhaps of more immedi-
ate interest to St. Paul stockholders
/ than a change in the management.
/ President Earling, If he had his way,
would, it is said. leave the dividend where
] it is. for recently when he returned
| from a tour of the territory feeding the
| st. Paul he was optimistic over the out
q look. Crop prospects, he said, were ex-
cellent, while the condition Of the st.
Pauis trackage was first class.
At the present time the average
loaded daily car movement Of the st.
Paul is thirty-four TO thirty-fve miles,
against thirty-three 20 thirty-four last
year. Il is stated that the average haul
is longer also and that the average
earnings per car are SO to s. ahead
of a year ago. II is also asserted
that the Pacific extension Of the ST.
Paul is paying its way and is earning
proportionately 10 mileage nearly as
much as the old system.