Los Angeles herald., 1891-07-15
ROckefeller's Purchase of the
Southern Pacific Stock.
Senator Carran Says That the
Story Is True.
Ex-MayOr Workman Elected Presi'
dent of the Terminal,
Gossip About the Rockefeller Purchase
He is Said to Have Stanford's and
Mrs. Searles's stock-Presi-
dent w. H. Workman.


number of railroad men and others, to
the effect that John D. Rockefeller had
purchased a controlling interest in the
Southern Pacific company caused de-
cided excitement in railroad circles.
The Express last evening published a
dispatch as follows:
NEW YORK, July 14.-A dispatch from
San Francisco, in regard to the Standard
Oil crowd acquiring the Huntington
Searles interest in the Southern Pacific
railroad, was shown to William Rookie
feller this morning. He stated that he
had not heard of any such transaction
being contemplated.
The above is probably true, because
the transaction has mot been contem-
plated" but was consummated about a
year ago. 1t was also denied in other
dispatches that Mr.. John D. Rockefeller
would succeed Mr.. Huntington as pres
ident. As to that point, the HERALD
has only the statement of one man,
man who is supposed in Los Angeles to
be very close to Mr.. Huntington and
who talks as if by the card, but who ex-
pressly stipulated that his name should
not be mentioned.
The opinion was expressed yesterday
by Mr.. Carran and also by two railroad
men, that Mr.. Rockefeller had not pur-
chased Mr.. Huntington's interest, but
had bought Mrs. SearIes's and Senator
Stanford's stock, which would give
control. But be this as it may, there
can be little question but what Mr.
Rockefeller holds the balance of power
in the company.
Senator T. J.. Carran yes
terday said to HERALD reporter: II
supposed everybody knew that John d.
Rockefeller had purchased largely OF
Southern Pacific stock; he owns the
former holdings OF Senator Stanford and
Mrs. Searles, but that has been known
in railroad circles for long time"
PRESIDENT WORKMAN.
The Terminal railway company on
Monday held an election, resulting in
the selection of ex-Mayor w. H. Work
man as president OF the road, vice B. F.
Hobart, of st. Louis, who resigned be-
cause OF his great interests in St. Louis
preventing him from attending the
meetings of the board of directors in
this city. ...
The selection of Mr.. Workman is cal
culated to greatly strengthen the inter-
ests of the road here. He was greatly
instrumental in securing the enterprise
for Los Angeles when it was first consid-
cred by the st. Louis syndicate, and its
success since has been very largely the
result of his efforts. He has earnestly
worked for it, and by its influence and
his labors has advanced its interests
from first to last. His accession to the
presidency marks the confidence reposed
in him by the 81. Louis capitalists, Mr..
Kerens, Mr.. Chandler, Mr.. Hobart and
the others who are putting large amounts
OF money into the enterprise.
People as rule fail to appreciate the
work being done by the Terminal COM
pany. 1t will pay anyone interested in
the advancement of Los Angeles to take
a ride on the First-street cable road to
the depot grounds of the company, di-
rectly across the river from the Santa
Fe depot. Here will be found large
gang of men at work laying tracks. 1t
is no twopenny business either. Mas
sive 74.pound rails are being laid, the
best of ties are being used, and every
thing is being done on a scale and with
solidlty that means transcontinental
road.
The levee on the east side is built in
the very best manner. That bank of the
river is not much exposed to the force of
the water, but the levee has been built
as strongly as if it would have to confine
the Mississippi.
The depot which is now being erected
is only intended as a temporary affair,
but it will be most creditable looking
building, and is very conveniently de-
signed. The work of laying the track to
San Pedro will be vigorously prosecuted,
and in two months time trains will be
running into Long Beach.
The directory OF the company is now
made of local men. 1t is composed of
Mr.. Burnett, the general manager of the
company; Mr.. Wincup, the general pas
senger and freight agent; Mr.. Workman,
the president; T. E.. Gibbon, the attor-
ney, and Mr.. Dan Mcfarland. These
gentlemen, who are all personally inter-
ested in the enterprise, are in perfect
line with the ideas of Mr.. Kerens and
his associates, and the change means no
change in the policy of the company.
ANOTHER HUNTINGTON STORY.
"The sale by G. P. Huntington of his
interest in the Southern Pacific to John
D. Rockefeller, is startling change in
| tIdJ COl pOIdtlOu, odiu q 6OAoiCAhoh AoA
merly from Cleveland, and whose
sources for accurate information are re-
liable, yesterday to HERALD reporter,
'but it is nothing to the underlying
changes that are pending among the
transcontinental lines of the country. l
have known for some time what the
scheme is, and don't mind giving you
a pointer about it. John d. Rockefeller
will in two years be the president of the
biggest railroad combination in the
history of the world. 1t is nothing
more nor less than a plan for the con.
solidation OF all the transcontinental
systems of the United States in one vast
organization. 1t will cast in the
shade all previous combinations and
systemc of railroads, and John D.
Rockefeller will be at the head OF it,
with almost limitless capital and power
He has that ambition, and has been
steadily working towards his object fol
several years past. 1t may not be gen
orally known, but he already practically
controls several of the transcontinenta
lines now. am not merely guessing a,
what am telling you, but know where
of | speak. OF course it will be a syn
dicate, and Calvin Brice, Oliver Payne
and others will be in it. Mr.. Rockefeller
is now in the full vigor of middle age
being not much over fifty years old, ano
is one OF the suavest men in the coun
trv. The policy of the new combination