The Seney Syndicate was headed by George I. Seney, a New York banker. Eastern members of the Syndicate included the successful speculators John T. Martin, Edward H. R. Lyman, Alexander M. White, and Walston H. Brown.
The members of the Syndicate from Illinois included Columbus R. Cummings and William B. Howard, both men with experience with the construction and the management of railroad properties.