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Show GOULD STILL HOLDS CONTROL OF THE DENVER UNO HID GRANDE The Denvtr Tout In n comprchrn-ulte comprchrn-ulte nrtlcln -xilnlnn thnt ttip recent Denver nnd Itlo Ornnile official turn. ocr the oulcomu of n break In the relation Iwtwcen the Ootilil Inter-ent Inter-ent nnd the hanking houc of Kuhn-Ixch Kuhn-Ixch A Co., which nan undertaken to recoitnlio the MliwourM'nclflc rond now In tho hand of n receiver. Ho In continence of till condition of affair. af-fair. I'renldint It. K. HiikIi renlxncrf the presidency of the lVnver nnd Itlo (Irande, IMward 1 llrown va eliminated elim-inated n lce president, nnd It. K. Wntkln of Denver u receiver. The font further n': It had been decided that ltuh wn to renlun the prcMdeney of the Itlo (Irande, In order to dexote nil of hi nttentlon to the reorxanUatlon of the Mlitnourl-raclflc. In which the (lould have heavy Interent. nnd of which he I receiver. Ilunh wn wllllntr to curry out hi Miarn of thn bargain, but In-olnted In-olnted that llrown. who hn done Nplendld work In the upbuilding of the Denver nnd Itlo (Irnlide In the lnt thrctf )enr. hould be elected it hi inicccmor. Mould HrenU Willi ltii.li. Apparently he had the promUo of Ueorge Qould to cam the election of llroun, for utter the meeting of the directorate at which the change were made, he Inued n tatement In which he ld; "My only comment on tho election I that (Jeorge Oould ha broken hi word to me." The trouble between dcorge Oould unit thn KuhnI.och Interest began lait aprlnr. when the former, a holder of a large amount of MIourM'aclflo threo.year note, demanded i-ah payment, pay-ment, although ho wa aware thnt the company could make no audi nettle ment. Through the banking firm nr-rnngement nr-rnngement were made for the extension exten-sion of thee note, but Could eon-Dented eon-Dented with great reluctance nnd never exhibited hi mtlfactlon with the deal. Ha I reported to have old tho greater part of hi pergonal holding In thn company, which own 10 per cent of the tock of the Denver and Itlo flrnnde, and ha been credited with having made th work of refinancing refin-ancing the property undertaken by the Kuhn-teb group of banker a dlf-flcult dlf-flcult n poMllile. The Jmnker were behind Iluih In hi demand that llrown be promoted to tho presidency of the Denver and Itlo Grande be-caumj be-caumj of the cnormou holding of the Mliuwiurl-raclflo in the property, Oould Heir Control. The Oould have been In full control con-trol of the Denver and Itlo Orunde for many year, but recently have permitted per-mitted repreentatlon on the loard of Illalr A Co., the Deutsche bank and Kuhn-Loeti & Co., all of which In. dilutions have shared In thn financing. financ-ing. . Apparently. Oeorge Oould decided that he would strengthen thl control by selling advantagn of the resignation resigna-tion of Hush to place at the head of tho road u man over whom the banking bank-ing Interest have no control, and to make the Denver and Itlo Orande Independent In-dependent of the Missouri Pacific, whose destinies nre problematical on account of the misfortune Into which It was plunged several year ago by Oeorge Oould, while he wn president of thn company. Oould waa forced to resign the presidency of the Mhuoirrl I'aclflo by the Kuhn-l.oeli group ol bankers, though he wns permitted to select his successor. The attitude or the Oould faction In the Denver and Itlo Orande board I Indlcuted by n stutement by lres. dent Coppell after tho meeting adjourned, ad-journed, In which he said "After consulting with wmie of thr largo stockholder, both In thl conn-tr conn-tr and In Europe, we thoroughly l llevt. and are convinced thut to be successful the Denver nnd Itlo Orande ' railroad must be entirely Independent It chief operating officer must re-sldo re-sldo In Colorado nnd In nowise be ! connected with the operation of nny other railroad Interest. "For the past few year the president presi-dent of our rond ha held the same office In both the Mlmourl 1'nclflc nnd the Western 1'nclflc railroad, which two proportion have lately come under the jurisdiction nf the court. tin ha nlso been appointed receiver of the Missouri 1'aclflr nnd nlso of the Iron Mountain rond. "Wn nre of the opinion that It I detrimental to the welfare of the company to have ns It operating head n man who must give a large, part of hi time to these two roads, nnd who I n resident of Ht. l-ouln. nearly two thousand mile nwny from the company's operating headquarter. "One of the many problem that wilt require the careful nttentlon of the board nnd II officer In the near future I thn readjustment of tho company' com-pany' relation with the Western I'm-clflo I'm-clflo railway. Consequently the chief operating officer should be it man who Is not nt tho beck nnd call of other Interests, but one whim., mind I free to concentrate on the operation opera-tion of the rond, and be In a position to give ndvlce and assistance to the bourd at all time. Clil-f Operating Orrlivr. "Therefore we have secured the scrvlcr of H. IT. Mudge, who In n few day will entabllsh hi headquarter headquar-ter In Denver, nnd become the chief operating officer of the road." K. T. Jeffery, former president, wa re-elected chairman of the board of director and of the executive committee, com-mittee, from which Hush retired tu fnvor of llenjamln Nlcoll, a recently elected memtier of the board. Other member of the executive committee nre Oeorge Oould, K, D.'Adums. B. U Marston, Mr Coppell nnd Klngdon Oould. The latter was elected vice president In plnco ofK. I llrown, Joel V. Valle. general counsel, wus reelected, re-elected, and Henry McAllister, Jr.. of Denver was made assistant counsel, n position created for him. Thomas II. Marshall, cashier In the general of-flee of-flee for twenty-five )enr, wa elected elec-ted treasurer In place of ltawitcn I' Wutklns, who was elected two year ago to succeed thn late J. W. Ollluly. Arthur Coppell, the temporary prerldent, I a member of tho banking firm of Maltland, Coppell A Co. HI father, Oeorgn Coppell, wa chairman of tho board for many year, representing repre-senting the Dutch Interest. It wa due to a quarrel between the elder Coppell nnd Dald II. Moffat thnt the latter resigned the presidency of the Denver and Itlo Orande In 10. This quarrel originated over thn Indlsposl-tlon Indlsposl-tlon of Coppell to assent to thn bulld-Imc bulld-Imc of the Creede branch and tho Hprence and Cripple Creek, l'lnnlly the former wa built by the Denver anil Itlo Orunde, nnd the latter by Moffat and Home of hi friends, lloth nXJ,?'"!'"1 Xh "'""nee and Li ?ln.rrM,k """I" It entire cost within three years. |