The Savannah morning news., 1901-02-02
BIG RAILWAY DEAL
ALL THE PACIFIC LINES NOW UN-
DER ONE SYNDICATE.
HARTMAN THE NEW WIZARD.
A COMPLETE ANsCoNTINENTAL
LINE SECURED.

Speyer and Huntington stock in
Union Pacific Acquired by Harri-
man Syndicate-RockefeII and
Other Large Interests Behind
Harriman-The Lines Controlled
Include the Southern Pacific, I'm
ion Pacific, Central Pacific, Chi
cagO and Alton, Illinois Central
and Baltimore and Ohio.
New York, Feb. 1.-Another railroad
transaction. reaching, it is believed, much
further in it's intimate results than any
of the recent deals, became known late
this afternoon when the transfer of the
control of the Southern Pacific Company
into the hands of a syndicate in which
the Union Pacific interests predominate,
was announced. The transaction com
pletes the last link necessary for the es-
taDlishment of a trans-continental rail-
road under a single control, now vested
in E. H. Hartman. The new route in
cfudes the following lines, in all Of which,
except the Southern Pacific, Mr.. Hartman
is officially connected:
Starting at San Francisco, running
over the Central Pacific end of the South
eTn Pacific direct to ogden, thence first,
over the Union Pacific to Kansas Guy,
and thence over the Chicago and Alton
to Chicago, or second, over the Union Pa
cihc to Omaha and thtnce over the Du-
huque and Sioux City branch of the IL
llnois Central direct to Chicago, where
the Baltimo. aid Ohio connects direct TO
the Atlantic seab-ard.
The control Includes the large roads
controlled by Speyer & Co., and also the
huntington holdings. The price secured
for these holdings is not known.
Mr. James Speyer would only say:
eve 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 purchas rs
control of the Southern Pacific Company.
sag Capitalists Behind Hartman.
A statement that Union Pacihc-Harri-
man Interests predomlnate in the syndi-
cate may be made on authority. Tne
syndicate ie composed of the capital IS
behind f. H. Hartman, including KUN,
Loeb & Co., who, 1t will be recalled, have
very ciose relations with the Pennsyl-
vania Railroad interests. and of the
Rockefeller interests represented by the
National City Bank The Hunting
i
their amount s lot known. They were
pequeatned by Mr. Huntington, Mrs.
Huntington receiving two-thirds and
Henry Edward Huntington one-third,
subject to a condItiup requiring their
mutual consent to disposition of the
stocks.
About a year ago the Speyer-Hunting-
ton syndicate acquired. acoo4 ding to pub
lished reports, the c. ecker no .dings, par
ia ue $29, 100 100 ard = nfo mol ings,
$50 OOO,OCO, and the Hubbard holdings,
$2,C.O.OOO. 1t was also reported at the time
that the syndicate had purchased the
Searles holdings of $4,000. 90. but this
was subsequently dined AT the last an
nual meeting of the Southe- n Pacific Mr..
Huntington voted nine-tenths Of the stock,
which included the proxies of Sp- yer &
Co.. and their friends.
The total authorized stock of the South
ern Pacific is $500 900, 900, including $67.27i.-
20G exchanged in 1899 for Central Pacific
stock.
The new deal gives Importance to the
acquisition last November by the South
,rn Pacific Of the Pacific Mail Steamship
Company with its immense distributing
power on the Pacific coast.
"COmmunity of Interests Policy.
The present acquisition is merely an
fha ff4Fa
policy, which has already secured such a
vast hold on the railroads of the country.
1t means the establishment of an all
rail trans-continental road governed d.
rectly by this policy Mr.. Hartman is
president of the Chicago and Alton road,
and director in the Union Pacific, Illinois
Central, Oregon Railway and Navigation
Company and Oregon Short Line Railroad
Company.
1t is believed that George Gould will BIZ
invited into the present syndicate IL he
mas not already joined.
The Central Pacific branch of the
Southern Pacific will give the Union Pa
cific almost an air line route from o.
den, its present Western terminus. to San
Francisco. The Union Pacific will nov
have a direct route eastward from San
Francisco to Omaha and Kansas City.
The Chicago and Alton connects with
tne Uni n racine ht hdHSdS lily ana the
Illinois Central connects at Omaha.
At Chicago the connection is made with
the Baltimore and Ohio for the Atlantic
seaboard and thus is established a COM
pete Hartman" trans continental route.
1t is highly significant that this an
nouncement should follow 50 closely on
the heels of the purchase by Mr.. Harri-
man of the control Of the Chicago Term
inal Transfer Company and Its connecting
lines.
The consensus of opinion is that the
price paid for the Huntington shares was
about $50 per share and the Speyers $4S.
The Speyer holdings are known 70 have
aggregated about $4,000 II not 10000 so
that with the Huntington block the new
interests have about 100000 shares. or
half Of the capital stock. 1t is stated by
authority, however. that the speyers have
not sold their Southern Pacific bonds.
MURDER or MISS FOsBURG.