The times. [volume] (Richmond, Va.) 1890-1903, 1901-02-02
Nr. Hartman Now Has Trans Con-
tinental Line.
MANY ROADS IN NEW ROUTE.
Price Secured Is Not KNOWN Mir.
Speyer Would Only Say Ih"t a
Satisfactory Offer for the
Holdings II ad Been
Ofrere Nand
Accepted.

icy Associated 1'-ass.)
MEM YORK, IHeb. 1.-Anothcr railroad
,ransactiou reaching, it is believed, FUR
,ber in its ultimate results than any of
tho recent deals. became known late this
evening when the transfer of the controi
of The Southern Pacific Railroad Company
into the hands Of a syndicate IN which
the Union Pacific interests predomlnate'
was announced The transaction COM
,,lates The last link necessary for the es-
establishment of trans-continental rail-
road under Il single control now vested III
Z. il. Hartman
The now route includes the following
lines in all of which, except the South
or-n Pacific. Mr.. Hartman is officially
connected:
starting at San Francisco, running over
the Central Pacific, end OF the Souihefh
Pacific direct to ogden, thence over lhe
Union Pacific to Kansas City, ana lhence
over the Chicago and Alton to ChlcaSo;
or second over the Union Pacific to
omaha. and thence over the Dubuque ana
Siouy C-itv branch of the Illinois central
direct to Chicago, where the baltimore
and Ohio connects direct to the Atlantic
scaboard.
PRICE UNKNOWN.
Tho control 11cluNeS tIlt ioi 80 Ao''4S
controlled by Speyer & Company. ana
also the Huntington holdings. The price
secured for these holdings is not known.
Mr.. James Speycr would only say:
We have received a satisfactory offer
for our holdings OF Southern Pacific
stock, and have accepted it.
Holdings of the Huntington estate in
the Southern Pacific have been acquired
by the same interests which purchased
the Speyer stock, and the two blocks in
connection with recent purchases in the
open market have given the purchasers
control of the Southern Pacific Company.
A statement that Union Pacific Harr-
man interests predominates in the syndi-
cate may be made on authority. The
syndicate is composed of the capitalists
behind e. H Hartman. including Kuhn
Loeb & Company, who, 1t viii be recalled
have very close relations with the Penn
sylvania. Railroad interests and of tha
Rockefeller interests represented by the
National City Bank. The Huntington
stocks were secured some weeks ago;
their amount is not known. They We're
beQucaihod by Mr.. Huntngton-Mrs.
Huntington receiving two-thirds and
Henry Edward Huntington one-third-
subject to "a condition requiring their
mutual consent to disposition OF the
stocks.
A GREAT DEBT
About a year ago, the Speyer-HuntlnS-
ton syndicate acquired. according TO pub
lished reports, the Croker holdings par
value So G10, 900, and Stanford Holdings,
$50 o3oG GOO, and the Hubbard holdings,
2.0o9, ,099 1t was also reported at the
time that the syndicate had purchased
the Searles holdings of $2600o,ceo, but
this Was subsequently, denied
At the last annual meeting OF the
Southern Huntington voted
nine-tcnths Of the stock, which included
the proxies OF SpcyeT IL Company, and
their friends. The total eaht.;zed stock
Of fhe Southern Pacllic IS $2ra,100,cOo, IN
GLIDING si1, ,214-2o eScnaaged in 1889 for
Central Pacific stock.
The new deal gives Importance to the
acquisition last November by the South
ern Pacific Of the Pacific Mail Steamship
Company with its immense distributing
power on the Pacific coast.
Tie present acquisition is merely
another move IN the community Of inter
est policy. which mas already secured
such a vast slold on The railroads of the
country. II means The establishment OF
an s4ll-rail tralrs-Continental road, gov
erned directly by this policy.
Mr. Harrison is president OF the Ch:-
cnso and Alton Road, and director in the
Union Pacific, Illinois Central, Oregon
Railway and Navigation COMPANY, and
oregon Short Line Railroad Companies.
1t is believed talat George Gould will
pa invited into the present syndicate if
aae has not already Joined.
AIR LINE.
The Central Pacific branch Of the
Southern Pacific VIII give the Union Pa
ciiic almost :ln alr line route from Ogden,
lis present western terminus TO San Fran
cisco. The Union Pacific Will now have
a direct route eastward from San Fran
cisco to Omaha and Kansas C22ty. The Chi
ego and ALTON connects with the Union
Pacific ut Kansas City, and the Illinois
Central connects at Omaha.
At Chicago the connection is made with
the Baltimore and Ohio for the Atlantic
seabeard, and thus is established com
plete Hartman trans-eontinental route.
1t is highly significant that this an
uo1ncement should follow SO closely on
the heels of the purchase by Mr. Harri-
man OF the control of the Chicago Ter
rniral Transfer Company and its connect
ing lines The consensus of opinion is
that the price paid for the Huntington
shares was about $50 per share, and the
Speyers SIS. The Speyer holdings are
known to have aggregated abeut $4,000
II not Gao,lD0 so that with the Huntington
hiock the new interests have about l,00a, 900
shares. OF half of the capital stock
II is stated by authority, however. that
the Speyers have not sold their Southern
Pacific bonds.