Memoir of Charles Francis Adams

Cover Memoir of Charles Francis Adams
Memoir of Charles Francis Adams
Morris Richard
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Adams w-as elected president of the road, in the hope that he would be able to revive its broken credit, and increase the value of its stock, by proper business management. Among its many debts was that for an original construction loan to the United States government, then overdue, and for the pavment of which there was no fund available.
Mr. Adams was not a skilled organizer and had no real knowl- edge of railroad management, and at the same time refused to take any advice; his first effort w
...as one to obtain the consent of Congress to cancel the debt to the government without payment, and had the matter been handled with tact and caution, it is probable he would have succeeded. It was impossible for Mr. Adams to so handle it however, and the affairs of the road grew steadily worse.
The directors, who had been the means of his election, tried to advise him of what shotUd be done, but in vain, and the con- dition of the road growing steadily worse, and the president declining to receive advice or suggestions from the directors was asked to resign, and, on the election of his successor, the road again began to prosper.


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