OCR Text |
Show I WABASH'S RECEIVER A Man -With No Railroad Rail-road Experience Is Named I St. Louis, Doc 39. Receivers will take charge of the "Wabash railroad J ajj soon as thoy appear before .Tudge Elmer B. Adams in the United States circuit court and qualify by giviriK $300,000 bond each. Henry Miller, J vice presided and general manager, today said the receivership will not i affect the operation of the read, which has 16.0G0 employes. FYedeWcK A Delano of Chicago, president of the Toad; W B. Prj'or of SU I.oujb, vice president and r. K. Blxby of St, Louis are the receivers appointed by Judge Adams on the application ap-plication of the "VestIngh6ii6e 'Air Brake company of Pittsburp, which filed a claim of $18,000 and alleged Mi roaci was insolvent ana univyie iv meet unpaid vounchers of $1,800,000, and had bonded , obligations due Jan. I,'l912, which WQiild be defaulted. "It wss represented to me by both parties that are "'concerned that the i Wabash Railroad company could not I meet its obligations." Judge Adams is quoted today as having said, "and I 1 immediately granted the request for j a receiver. I selected "Mr. Bixbyjje-I Bixbyjje-I cause 1 wanted a man who was not a railroad man and in whom qery-bod qery-bod had confidence The appointment appoint-ment of President" Delano and VIco President Pryor was made at tho suggestion sug-gestion of counsel." Mr. Blxby Is president of the Laclede Lac-lede Gas Light company of St Louis I and obnlrman of the board of directors direct-ors of the American & Foundry company, com-pany, besides being a director of the SL Ixnns & San 'Francisco railroad Mr. Pryor had experience in a receivership re-ceivership capacity when that road was involved in "similar trouble in 18S5 Mr. Delano haa been president of the system slnco 1905. when Joseph Ramsey, Jr.. was retired, following a disagreement with the Goulds. The "Waoash's extensive general offices here occupy several floors of the Title Guaranty building, adjoining tho Missouri Mis-souri Pacific building, where the general gen-eral offices of the Missouri Pacific, Iron Mountain & St, LouIb Southwestern South-western railways are located. These three roads have attracted attention in the financial world recently. re-cently. First, the Missouri Pacific reorganir.atfon bringing Benjamin F Bush hers from the western Maryland Mary-land as president of the Missouri Pacific Pa-cific a president who, as G-eorge Gould, his predecessor, said would 'sleep and eat on the job' Then Frank J. Gould lost in a contest with his brother Edwin, for a greater voice in the affairs of the Cotton Belt With the Wabash, the Goulds almost al-most have -?. transcontinental system, as the Missouri Pacific meets tthe Denver &, Rio Grande at Pueblo and the latter joins the "Western Pacific at Salt lake. |