The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1900-10-24
VANDERBILT MOVE.
Secures Control of Pacific Mail
Steamship Line.

New York, Oct 24.-The Times says:
Control of the Pacific Mail Steamship
company changes. E. H. Hartman sue
ceeds Coils P. Huntington. Mr.. Har-
riman and his colleagues have taken
over a majority of Pacific Mail capital
stock. Identified with Mr.. Hartman in
this new big deal-one of international
significance William K. Vanderbilt
SeQuels soon to follow will have far
reaching consequence
Under Mr.. Huntington's direction the
Pacific Mail Steamship company was a
tender to his Southern Pacific interests
its operations subordinate to Mr.. Hunt
ington's great railway system. In It's
new control the company will have
scope never hitherto contemplated The
acquisition of the Pacific Mail Steam
ship company makes possible the imme-
date Accomplishment of Mr.. Wander
bits cherished plan of a continuing
transportation extraordinarily under
one management-from the Atlantic
through to the Pacific coast and thence
direct to the far east
The New York Central system, linked
to the Union Pacific by the Chicago &
Northwestern, with natural auxiliaries
already possessed, will now connect
with Pacific Mail steamships for con-
tinuous transportation service to China
and Japan. Philippine trade is also, of
course, to be incidentally competed for.
Under Mr.. Harriman's control-con-
troll in which w. K. Vanderbilt direct
" participat es-the Pacific Mail Steam
ship campany'S affairs will be revolu-
tiOnized. More steamships-nO one or
two, but many-will be forthwith added
to the conpany's service Most Of them
will be for Asiatic trade
1t may be disclosed that James J. Hill
of the Great Northern railway, is also
interested in Mr.. Harriman'S project
Mr. Hill and Mr. Hartman have come
into close affiliation in Chicago & Alton
and in Baltimore & Ohio reorganization
tied with giving more heed to Mr. Hill 8
practical railway counsel than to that
of any other transportation authority
Of the country.
port of New York across the continent
by rail without breaking bulk and sent
forward by steamship to China and Jap
anal under a bill of lad1ng represent
ing one centralized transportation in
terest- The Pacific Mail steamship line
becomes thus practically q, mere "divis-
ion" in a Vanderbilt system from New
York to Asia 1t is therefore not 1mpro-
bable that before long there viii be
revival of the former reports of consol-
idation-or what in substance many be
the same-between railway systems
from New York to California
Pacific Mail shares have been nota-
bly, active on the stock exchange re-
Gently and they have advanced substan-
tally. Generally this improvement has
been attributed to the fact that assur-
ances have come from Senator Hanna
and others quotable as authorities that
as soon as congress meets the Hanna
Payne shipping subsidy bill will be pass
ed No possible change in the political
complexion Of the congress elected next
month will have bearing upon this pro-
sramme, the present congress, in its
winter session having time to enact sub
sidy legislation, though there are indie
pendent observers who doubt the ability
of Mr. Hanna to hurry through his bill
under any circumstances.
How ne
Mr. Harriman's control of the company
makes clear the fact that discounting
congressional action has not been re-
sponSible for the advance in Pacific
Nails quotations. Mr. Hartman and
Mr. Vanderbilt are credited with having
bought Pacific Mail stock largely in the
open market after having OBTAINED at
private sale a block of the stock from a
representative of the Huntington estate.
Subsequent purchases on the stock ex-
change have been responsible for the ac-
tivity and strength. The stock bought
from the Huntington estate is said to
have been taken over at an average of
close to $50 per share.
Some important changes in the person
mel of the Pacific Mail Steamship COM
pany are likely to be soon announced.
The board of directors as now constituted
win Hawley, Samuel Thomas, Russell
Sage George ]. Gould, G. H Macy of
Francisco-the latter being vice president
and general manager. Mr.. Hartman and
w K. Vanderbilt, jr., may enter the d.
rectory.
Edwin Hawley. for years one of c. P.
Huntington's chief lieutenants, can have
the Pacific Mail presidency if he will
cept Mr.. Hawley is credited with hav-
ing recently declined the Southern Pacific
railway presidency for the reason that he
was not willing to give up his residence
in New York
Mr. Hartman went west Immediately.
Immediately following his return Pacific
Mail changes may be announced. In Chi
cago Mr.. Hartman will meet representa-
tives of the Union Pacific and Chicago &
Northwestern and if not James J. Hill
personally. one of the 1atter's Great
Northern associates.
Under Mr.. Huntington's control the Pa
cific Mail company practically confined
its relations with the Southern Pacific
railway. Under a INSTRUMENTATION
control, it will have the business of the
various systems.