Evening star., 1942-04-21
Five New Directors
Return Young 10
{. & 0. Control
Fitzpatrick, Newton,
Nicely, Routh ond
lipscomb Named
By tht AEsociAted Press.

RICHMOND, Va. April al
Robert r. Young, New York financier
and chairman Of Allegheny Corp,
returned to control of the Chesa-
peake & Ohio Railway today with
stockholders election of five new
directors to replace members he
once classed as allies Of Guaranty
Trust Co. of New York.
Young was elected chairman of the
board and of the Finance Commit
tee
New Members Listed.
The new board members are Her
bert Fitzpatrick Of Huntington, w.
Va, former c. 6z o. chairman, who
resigned year ago during the
Young Guaranty controversy; Carl
E. Newton of New York, Allegheny
counsel; James NJ Nicely of Guar
anty Trust, which is trustee for one
Allegheny bond issue; Joseph p.
Routh Of New York, chairman OF the
Pittston Coal Co, and William II.
Lipscomb Of Leesburg, Va.
They replace Frank B. Bernard
Of Muncie, Ind; J. L. Dickinson of
Charleston, w. Va: JOINER L. Fer
guson, president of the Newport
News Shipbuilding and Dry Dock
Co.. Ralph C. Clifford Of Louisville.
and J. B. Hollister of Cincinnati, law
partner of Senator Robert A. Taft.
Allan P. Kirby of Morristown, N.
j.. associate of Young, in the 1887
purchase of controlling securities in
Allegheny corporation, who succeed
ed John M. Miller, jr.. of Richmond,
resigned, along with James G. Blaine
of the Marine Midland Bank of New
York, trustee Of one Allegheny bond
issue; George D. Brooke of Cleve-
land, president of the c. & o. and
two subsidiaries, the Nickel Plate and
the Pere Marquette; H. B. Ermin-
ger, Jr., Of Chicago: Harvey D. Glib
son of Manufacturers Trust Co, New
York; Harry C. Thompson of the
Continental Bank g. Trust Co.,
trustee for another Allegheny bond
issue; Brig. Gen. Leonard P. Ayres
OF Cleveland. and Young.
Officers Reelected.
Brooke and all other officers of
the company were reelected.
Ayres, Gibson and Lipscomb were
elected by holders of preference
stock, series A. and the other 10 by
holders of common stock.
Brooke was reelected chairman
Of the Executive Committee with
Fitzpatrick. Newton, Routh, Lips
comb and Kirby as new members.
Named to the Finance Commit
tee with Young we're Brooke, Er-
minger, Thompson, Blaine, Nicely,
Ayres and Gibson.
The railway reported March net
income of S2,946, ,448. on gross in
come Of sl3,190,594, against s4,0s0,-
745 on gross of s13,165 ,005 the same
month of 1s41. This brought the
three months net to S5,813,163,
against So, ,468 ,568
Atlantic Coast Line.
Directors and officers of the At
lantio Coast Line Railroad Co. were
reelected at the annual meeting
here today.
President George 3. Elliott of
Wilmington. N. c.. reported a net
income of s11 ,132,471, compared with
sl,823,536 in 1910 and $S04o7 in
1899.
The report listed operating reve-
nues last year of s67, ,404,252, COM
pared with slightly over 50,000, 900
in 1910. Operating expenses in
creased from s39, ,567 ,5os in 1910 to
S46 ,859 ,449 in 1941.
Passenger revenue amounted to
$11,817,851, an increase of almost
s4,000000. The freight tonnage was
up 32.9 per cent.
Ofhcers reelected in addition TO
Elliott we're c. Med. Davis of Will
mington, executive vice president:
H. L. Borden of New York and T. p.
Darden and r w. Brown, both of
Wilmington, vice presidents. Ly-
man Delano Of New York was re-
named chairman OF the board.