The Wilmington daily Republican., 1901-02-02
VASTRAILROADDEAL'
Union Pacific Now Controls
Southern Pacific.
TERMS NOT YET ANNOUNCED.
The Transaction Completes the Ess
tnblishment of TranscOntinentaA
Line Under a Single Manage
ment-Harriman at the Head.

NEW YORK. Feb. 2.-Another rail-
road transaction, reaching, it is believed.
much farther in its ultimate results than
any of the deals which have thus far
marked the closing of the old and the be-
ginning Of the new century, became
known Just a few minutes before the
closing of the market yesterday after
noon, when the transfer OF the c0ntfoi
of the Southern Pacific company into
the hands of IL syndicate in which Union
Pacific interests prcdominate was an
nounced. The transaction completes the
last link necessary for the establishment
of q transcontincntal railroad under =
single control This control Is at pres
ent vested in Il. II. Hartman. The
new route includes the following lines,
in ali of which except the Southern Pa'
citic Mr.. Hartman is officially connected:
Starting al San Francisco, running over
the Central Pacific and the Southern
Pacific direct to Ogden, thence, first, over
the Union Pacific to Kansas City and
thence over the Chicago and Alton to
Chicago, or, second, over the Union Pa
cifc to Omaha and thence over the Du-
baluue and Sioux City branch Of the llli-
nois Central direct to Chicago, where
the Baltimore and Ohio connects direct
to the Atlantic seabonrd.
The control of the Southern Pacific
Just transferred includes the large hold
ings controlled by Speyer L. Co. and also
the Huntington holdings. The price So
cured for these holdings is not known.
Mr.. James Speyer when questioned
would make only the following concise
statement:
I'VE have received satisfactory offer
for our holdings of Southern Pacific
stock and have accepted it"
From reliable source, however, 1t
may he stated that holdings of tho
Huntington estate in the Southern Pa
citic have been acquired by the same an-.-
terests which purchased the Speyer stock
and that the two blocks in connection
with recent purchases in the open mar
ket which have been responsible for the
sharp advance in Southern Pacific securi.
ties have given the purchasers work
ing control of the Southern Pacific COM,
pany. nj
The statement that Union Pacifc-Har-
riman interests predominant in the syn.
dicate may be made on authority. The
syndicate is composed, in the first place.
of the capitalists who have been behind
H. II. Hartman, including Kuhn, Loeb
g. Co., who, it will be recalled. have very
close relations with the n1nnsylvanial
railroad interests and, second, the Rocke-
feller interests represented by the M
tional City bank.
There is good authority for saying that
the Huntington stocks were secured some
weeks ago. The amount Of such hold
ings Is not a matter of public knowledge.
They were bequeathed by Mr. Hunting.
ton, Mrs. Huntington receiving two;
thirds and Henry Edward HuntingtoA
one-thifyh subject to the condition that
such sharesSshould not in whole or In,
part be disposeds-ef during the lifetime
of either except withstLe consent Of both
such lcgatees or the surviving Of them ~
About one year ago-before the de8tk
of Mr.. Huntington what was known as
the Speyer-Huntingto syndicate acquir-
ed, according TO published reports, the
Crockcr holdings. par value 500 ,000, 900.
md Stanford holdings. $4,000, 600. and
rhe Hubbard holdings, S2.O0N0O0. II
WAS also reported at the time that the
syndicate had purchased the Searles'
holdings of S26.0O0000.