The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1933-01-27
N. Y. C. STOCK
SOLD TO RAIL
|. CHIEF WARRIOR
LOree Quietly Purchases 10
Per Cent Share in
Great Line.
BITTER FOE OF LABOR
D. & h. President Has Been
Leading Figure in
Epic Battles.

DV T'PpN-H oltn'a NcicSpnpcr GiliaHce
WASHINGTON, Jan. 27.-Lenor
Fresnel Loree, so the stories went
some time ago, was reported as buy
ing New York Central stock. From
his lips, Swallowed by whiskers,
there came no confirmation.
But now, official announcement
has been made that Mr.. Loree has
purchased, through a holding COM
pany' 10 per cent share in that
railroad, and he joins the small
major railroad group of the country.
The man who single handed down
the years has run railroads of all
sorts, fought railroad battles of sem
satlonal proportions, fought railroad
unions day and night, has emerged
IN his 70 year a power in another
leading carrier of the country.
organized railway labor probably
Will not be particularly pleased with
Mr.. Loree coming into the New York
Central as powerful factor; labor
has regarded Loree as an antagon-
list for years.
Fought Epic Battles
In railroad operating circles. he
has been regarded as a man who
plays his own hand his own way:
and that's probably the way he went
about getting New York Central
stock at low figure.
Mr.. Loree has figured in epic rail-
road battles There was the time he
tried to group the Cotton belt, the
Kansas City Southern, and the Katy
down in the southwest. He was
turned down by the interstate COM
merce commission.
He tried to build a line across
Pennsylvania that would have
shortened the distance to New York,
but the I. c. c. turned him down
again.
His new acquisition. made through
the Delaware & Hudson Company,
of which he is president Che also is
president Of the Delaware & Hudson
Railway Corporation, probably will
have an important effect on the
1. G. c. plan for railway consolida-
ton.
1t will give the N. Y. c., it is be-
lleved here, a profitable entry into
New England business, and it will
end that proposition, made not long
ago, that the Delaware g. Hudson
be pieced out between the leading
eastern carriers. Is the Loree vic
tory apparent?
Member of Canada Commission
This old man, whose eyes even in
pictures, are straight as rifle shots,
started railroading back in IT. as
an assistant in the engineering corps
OF the Pennsylvania railroad.
In 1882 he was a member of the
Canadian royal commission on rail-
ways and transportation.
The gap is bridged by numerous
railroad connections, among them
these: Mr.. Loree in 1898 was a
leveler, transitman and topographer
in making the preliminary survey of
the Mexican National railway, from
the Rio Grande to Saltillo; by 1901,
he had advanced to the presidency
of the Baltimore & Ohio; in 1909,
he became chairman of the board
of the K. c. S., job he still holds.
He has held important offices with
other railroads, with railway organi-
cations, and he holds many of them
now Washington knew him in war
times as member Of the war labor
board.
AS member Of the Canadian
commission, incidentally, ne was
criticised in some quarters for his
attitude on labor issues, and when
American roads we're negotiating for
a wage cut about year ago, he
didn't take part.
Then he was quoted by some as
having said he could bring about a
bigger cut by himself.