The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1901-02-05
They Have No Particular Use for the
southwcstcrn Properties of
the system.
lsneclal % The post.l !

New York, February i,-~Ihe Hartman
syndicate is not giving out freely intor-
nation regardingthe Pacific roads deal,
but 1t is leaking CUT gradually. PronS-
nent financiers discussed the situation to-
day. The suggestion is made that Harri-
man has plan by which the un.on Pa
( eific will be able to assume absolute and
permanent con. iol Of .Ne Central Pacific
without assuming any liability for the
whole Southern fasifls system.
one member eli the Union Pacific In
! forests freely admits that the funda-
mental interest OF his company In the
Southern Paclhc Is in its control OF the
natural aud only possible outlet Tor me
/ Union Pacific to San Francisco. He SAID!
The Central Pacific ana the Union Pa
ciGc were conceived as one route and
their division into separate companies was
unnatural aud harmful to the best Inter
ests of the companies themselves ana the
transportation facilities OF the PUBLIC.
The two companies often worked In OPP
position The Southern Pacinc's other
lines are naturally allied with the In
forests OF California and the Southwest
and form a transportation system com
pleie and valuable in Itself sven without
the direct ownership OF the central IA
c.fc."
Plans OF the syndicate now holding the
Southern Pacific for the Union Pacific for
finaIsCng he property Will not be deli
nptely formed until the Central Pacific
lease has been carefully gone over TO see
If that property can be segregated from
the other lines under feasible conditions.
The adoption Of the plan ~ lssn MS coll
lateral rust notes, as in ether recent
mergers, Is not likely ITO be accepted un-
til ether plans have been thoroughly can
: vasscd TIE control OF the Southern Pa
, cihc VIII nG: be held In any way which
. will create any burden on the uni1n Pa
ciRc The terms under which the Cen
trail Pacific Is held are defn tely fixed by
the Southern Pacific per cent collateral
trrst bends Issued In 1899. This sccion
of the mortgage says: Existing lease of
the Central Pacific to the Southern Pa
cihc shall terminate in case HE pledged
stocks shall be Sold in consequence OF
default The Southern Pacific will not
= assent to any othor lease CT the prep
l critics unless such lease shall have been
: approved by the holders Of a majority
! OF the bonds on standing or shall contain
8 provision termnsflng same in case such
. pledged stocks shall be sold"
This would seem to afford ample au-
thority and feasible means for ne unloL
J. psciac nssrrnln- the Central Pacific lease
: IL II should be deaide1 to turn that prop
t e!ey directly over % the Union Pacific.
;. san F.anols.c, Cal, February &C. NJ
: Hays president OF the southern Pa iAt
n c-mYany, has been summoned to Ntw
!, York and vGarted Eap. on u Special train
y to5ay.
= TAG r.rolling itGercs. W the comp ny
= to tho HaIrinha syndicate would lsai &
, .u,.pol ant ctunE 5 tf management o.
2 poi y, President Hays said:
= Il see no prospect OF any marx
e charge IN southern fllaiAc aAdirs 80 IA
e a. Tie pubHc in eneec IS concerned. Was
:, ,tsIne.tts dcus Il ln.- 9 20 the pUp!i
vhuber raNrcad be owed by OF
e nan or whether its voting - cA 60 hel
y ~ "a hundred dlffererl. i-itrers. so onl
i as 1t is managed in s;cordan1a Nha
j. broad ana liberal p3licy whieh conseit e.
I, he Fe1t iptere.ts OF the Stockholders
oSS a, 70. look for any startling change u
= Tandttiore as a result OF the change 0
a Wnrrshtp. The Southern Fscihc will s
y ~ hd ycry mach as II no change his
= fatcn Mace. Tts irtereus. in a ira Il
y sense. are Iret4y well deAn.d and are ,
IS TO he di9.urbed by any new or revoiu
= tdo-aty poNry. In fact, do no, 10
"a any mg-Ilal change of psrlcy. 81
e. F1ancisco and California will not per
to cei1,e BY any outward indicsti,n TIM
In nero has been change OF ewnerih !
do not ab.nk the .sle means ns ~
NJ td officers tn the Union Paaine 40
a. outh IN ac,.c. he swo ads are 81
IN lfCu WIGS an ~ ~ HNe~
p.1s e sp 20 - pfss a
"a 20 2n,
2 Ihys sad b % sen so
&. b IA is.J g. AID
ri Wes On teirs - ieadhip With the I
2 rnn fHfee o b = rsaaa! 81
b diee sra b 81 ke hirliY NJ Mr.. a'arr
mans atMl az . rs.r 81 mr. res
r. Ier Ha ( elt N n.en 10 BIS priya
OF car Al oaIla-d ard p2r 81 tails m.rnin
~ aWaluarn p. CIR q or, speak.ng u be
rs deal. said. The vanserfil F@ Tread
~ cam hlp iuteeests val new hss
&c rec, i!ns b-aS 81 Hamhurg aud Her
s. Kong zcrsfn me American coatiren
be Wtsteyer the VsDderblles do, they
well end II q IS possible TO improve =
service OF the Southern Pacific, So
I Francisco stands 10 a fair WY OF yapid
improving IN importance as snlppE
La pc6nt."
Third Vice President ]. G. Stubhs OF u
iScubhorn Pacific. who Is a warm per
NY friend OF Mr. Has'rirna1. says the cham
m OF ownership OF the road waE as big
on gurprire 10 hAm ss II was to the ota
s4, officials Of the road.