The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1901-02-02
UNION PACIFIC BUYS
THE SOUTHERN Pacific
Both Roads Now Part of System Reaching From
Ocean TO Ocean and BY Steamer Over Seas.
Hartman Syndicate Purchases Huntington and Speyer
Holdings, Thereby Securing Control

Z quired- according to public reports, the
/ Croker holdings. par value SO 000, 600
/ the Stanford holdings, $50 600 .000, and
/ the Hubbard holdings, s., 900. 600. 1t was
/ also reported at the time that the syn
dictate had purchased the Searles hold
3 ings at S26,cJ0000. but this was subse-
3 queutiy denied. At the last annual
meeting of the Southern Pacific. Mr..
/ Huntington voted nine-tenths of the
stock, which included the proxies of
I Speyer & Co. and their friends.
The total authorized stock of the
/ Southern Pacific IS 5000, 100000 includ-
/ ing S6I,274.247 exchanged in 1899 for
] Central Pacific stocks. The Southern
Paclhc company owns no stock in fee,
but principally through ownership Of
stock and partly by lease, it operates d
great system of roads extending from
San Francisco to New Orleans (thence
by the company'S steamers to New
York, etc-), and to Portland. Ore, and
70 ogden. Utah, with branches.
The TORRANCE OF the new deal
grows v n viewed in connection with
the acqu- ton in November last by
{ the SOuthSrn Pacific Of the Pacific
Mail company, with its immense dis
tributinS power on the Pacific coast.
Part of Big Railroad Trust.
The acquisition of the Southern Pa
ciflc is merely another move in the
community of interest policy which
mas d1EEstuN secured SuEu q vast nOlQ
on the railroads of the country. 1t
means the establishment of a trans
continental road, governed principally
by this policy Mr.. Hartman is presi-
dent Of the Chicago & Alton road. He
is also a director in the Union Pacific,
in the Illinois Central, IN the Oregon
Railway & Navigation company, and in
the oregon Short Line Railroad COM
pany- Ia the Alton syndicate, when
Mr. Hartman obtained control of that
road. the Vanderbilts were generally
credited with participating to the ex-
tent Of $1,000 000 and the Gould and
Rockefeller interests each to the same
amount. II is believed that George
Gould viii be invited into the present
syndicate if he has not already Joined.
The Onion Pacific already has an out
let 30 the Pacific coast through its
stock control Of the Oregon Short
Line and the Oregon Railway & Navi-
cation company. But these lines reach
the extreme northwest in Washington
and Oregon The Central Pacific
branch of the Southern Pacific, how
ever, win give the Union Pacific a di-
rect rOute-almOst an air line route,
from ogden, its present western
terminal. to San Francisco. The Union
Pacific VIII now have d direct D.. route
eastward from san Francisco to Smaha
and Kansas Cit.
Burlington May Be Absorbed.
Reports have recently been current
that negotiations are pending for the
control of the Chicago, Burlington &
Quincy, which would meet the Union
Pacific at both Omaha and Kansas
City and afford a direct route TO Chi
caEO. where traffic viii be divided
among the trunk lines which are al
ready being operated under the com
munity of interest" plan. Such a plan,
however. is not necessary for direct
tIansCoutinental line, for the Chicago
& Alton already connects with the
Union Pacific at Kansas City and pro-
ceedS TO Chicago, and the Illinois
Central connects at Omaha and also
proceeds 10 Chicago At Chicago con-
nectiOn is made with the Baltimore &