Report of the board of directors to the stockholders

(New York :  [s.n.],  1913-)

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  1913: Page 17  



17                                                          ■ '"i-r-i

The New York Central and Hudson River Railroad Company

pleted during 1914. The new building for the Railroad Branch of the Young Men's
Christian Association, at 50th Street and Park Avenue, is nearly finished and should be
ready for opening by the summer of 1914. The hospital building at 42d Street and
Lexington Avenue and the old Grand Central Palace have been demolished and removed
and the work of excavation for the loops was commenced immediately on their removal.
All the multiple-unit trains are now run in and out of the suburban level and many of the
temporary tracks on the Lexington Avenue side have been put at the disposal of the
engineering department in connection with the work of excavating for the loops. It
is expected that the inner loop tracks in the suburban level will be placed in service during
1914, but the outer loop tracks on both levels will probably not be finished before the
early part of 1915.

The public street system from 42d Street to 57th Street was entirely completed
during the year and the different cross streets were opened at the various dates which
had been fixed by the city. In order to complete the street system it is necessary for
the City of New York to build the bridge over42d Street, connecting Park Avenue at 40th
Street with the driveway around the station building, but the commencement of this
work has been delayed awaiting a final conclusion by the public authorities as to the
location of the subway connection between Park Avenue and Lexington Avenue; it is
expected that the question will be settled soon, so that the full benefit of the street system
may be secured and the front of the Terminal Building finished in accordance with the
published plans.

John Pierpont Morgan, who had been a director of this company since November
28, 1899, died on March 31, and on April 16, his son, John Pierpont Morgan, was made
a member of the Board of Directors to succeed him. On December 16, George S.
Bowdoin, who had been a director since February 4, 1898, died and his place in the Board
was vacant at the end of the year.

On November 18, 1913, William C. Brown announced his resignation from the office
of President which he had held since February 1, 1909, and his position as a director
which he had occupied from January 27, 1909, to take effect at the close of the year 1913.
On December 10th, Alfred H. Smith, Senior Vice President, was elected to be President
of the company to succeed Mr. Brown from January 1, 1914.

The following changes in Executive officers were made during the year:

April 1, Alfred H. Smith was made Senior Vice President; Abraham T. Hardin
was made Vice President in charge of operation, maintenance and construction; on
August 26, Howard M. Biscoe was made Vice President in charge of the Boston & Albany
Railroad from September 1, to succeed James H. Hustis, resigned.

The following appointments were made during the year;

February 1, Miles Bronson was made General Superintendent of the Electric Division
and Terminal Manager of the Grand Central Terminal; Garret H. Wilson was made Superin¬
tendent of the Electric Division and Superintendent of the Grand Central Terminal.

Acknowledgment is hereby rendered to officers and employees for faithful and effi¬
cient service.

ALFRED H. SMITH,

Senior Vice President.
  1913: Page 17