Los Angeles herald., 1891-07-14

&c. P. Huntington has sold out his
interest in the Southern Pacific to John
d. Rockefeller of the Standard Oil COM
pany." That was the information
which was given to HERALD reporter
on Saturday, by one of the most reliable
railroad officials in Los Angeles. He
would not say anything more, nor give
the source of his information any
further than to admit that he had re-
ceived telegraphic word to that effect
from friend in New York. He told
the HERALD reporter that while he was
satisfied that the story was correct it
had better be verified.
To verify it in Los Angeles was diff
cult task, but the result of the attempt
was fairly successful, as the following
statements will show
STORY OF THE SALE.
A HERALD reporter last evening
gained some interesting facts in an in
terview with gentleman who is in Los
Angeles, and who knows more about G.
P. Huntington and his plans than any
other man in Southern California, but
who exacted promise that his name
should not be used.
"There are momentous changes to be
made in the Southern Pacific manage
ment," he said. 'In brief, the Stand
ard Oil company has swallowed the
Southern Pacific"
From the conversation the reporter
learned that the Standard Oil company,
together with Calvin S. Brice and Sam
Thomas, have purchased all or the
major portion of the Huntington and
Hopkins stock, and it is thought possi-
bly, the Stanford interest as well.
The programme, the HERALD's infor-
mant added, is all arranged, as follows:
In September, Mr.. Huntington will turn
the road over to the new owners, and then
Mr.. John D. Rockefeller will be elected
president of the system. This is all in
line with the same statement which
was telegraphed to the coast something
over year ago that Mr.. Rockefeller
had purchased the controlling interest
in the road, and the HERALD's informant
stated that the deal was then carried
through, but with the stipulation that
Mr.. Huntington should hold the posi-
tien of president long enough to wreak
vengeance on some of his pet enemies,
such as Senator Stanford and General
Manager IN. Towne. Mr.. Rockefeller
would have been elected president at the
last meeting but for this agreement, and
Mr.. Huntington has only partially car
ried out his intentions, for whole lot
of heads will soon fall.
Mr.. Towne, the gentleman told the
HERALD man, had said some time ago
that he was doomed, and had accord
ingly, about three months ago, handed
in his resignation, to take effect on
January LIST next. His alleged reasons
were that he was getting so old that he
wanted to retire from active work and
look after his private interests, which
are now very large.
'In regard to Mr.. Huntington's part
in the matter" said the HERALD's in
formant, "the delay in making the sale
public was because to him revenge was
sweet, and he had some old scores which
he wished to settle. His break with his
old partner, Senator Stanford, was a
very decided one, and he determined to
get even with Mr.. Stanford and his fol-
lowers, and the men he had been main
tanning on the roads paw roll. This is
the reason why he retained the privi
lege of remaining as the executive
of the great corporation, until he
could stick his knife into some of
the men who had taken sides with STAN
ford in the fight. Stubbs alone stood by
him and it was with a grim satisfaction
that he officially signed his name to
circular announcing Mr.. Stubbs' ap-
pointment as third vice-president, after
his return from Milwaukee, after Stan
ford, as president, had decidedly refused
to do this act.
Huntington has about got even now,
as his plans mean an almost absolute
sweep of the present regime on the first
of next September"
Speaking of Rockafeller's plans, the
HERALD's informant said: "Mr. Rocka-
feller believes there is more money in
low rates than in high ones, and the
first thing he will do will be to announce
maximum rate from the east to this
coast of $780,. Rockefeller thinks that
monopoly is not the hideous thing that
it is painted. A concentration of interests
will allow lowering of tariff and con-
sequent benefit to the public. He
says that but for the Standard oil syndi-
cate, coal oil would today be three or
four times as high as it is now, and that
by bringing more people into California
at a low. figure he will develop the trade
on this end, and that ultimately the re-
turns will be far greater than they could
ever become under the present policy OF
the Southern Pacific.
"Mr. Huntington isnow seventy years
old, and he has become weary of railroad
work, so he has made the deal. The
Crocker interest is the only one that
will remain of the Big Four, and it will
not cut much OF a figure hereafter.
THE STORY CONFIRMED.
l.. G. Carran, of Cleveland, O., is an
influential member OF the Standard Oil
\ company and closely connected with