Show t SHONTfro GLOVER LEAF L Goes as President and Gen I eral Manager I HAWLEY CONTROLS THE ROAD Committee to Receive Chicago Alton Stock Forerunner of a Big Combination in t Which Harritnnn and Hawloy Figure I t i Chicago Dec 29T P Shonts president pres-ident of the Indiana Illinois Iowa railroad prior to Its absorption by the V Lake Shore has been elected president J and general ma neper of the Clover Leaf I j road Toledo St Louis Western in I L place of Benjamin Norton resigned I f The control of the road is vested In a t voting trust ot which Gen Thomas H Hubbard and Edwin Hawley of New York are the principal members MrS Mr-S ont5 the newly elected president also r holds a large block of the companys Btock Mr Shbnts has resided in Chin Chi-n cago for many years He will assume the duties of his position on January 15th TRUNK LINE IN VIEW The formation of a committee to receive re-ceive deposits of Chicago Alton stocks and the selection oCT P Shonts for the presidency of the Clover Leaf are merely mere-ly the Initial steps toward the consolidation consolida-tion of five Western railways A big Bystem Is In process of organization I The trunk line will consist of the Kansas Kan-sas City Southern the Chicago Alton the Iowa Central the Clover Leaf and c I the Minneapolis St Louis 13 H c Harriman John W Gates and Edwin Hawley are the influential forces In the scheme Messrs Gates and IIawley by i the purchase of Gen Hubbards holdings have come into complete control of the Clover Leaf they also are prominent In the Kansas City Southern and they have a large interest In the Alton Iowa Central and Minneapolis St Louis which are virtually In the control of Harriman Messrs Harriman Gates and Hawley as well as John J Mitchell II Mitch-ell have deposited their Alton holdings with Kuhn Loeb Co the banking p house which will receive of these securities V se-curities as the preliminary to furtherS I further-S negotiations It is understood that Gen HubbardB t Clover Leaf shares were sold at 50 and f 30 for the preferred and common rev re-v spectively r The General stipulated that outside I holders who wished to sell should re l ceive the same price from Hawley and 4 Gates |