The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-04-30
FIXTURE of the Union Pacific.

The great attention given to Union Pa
cihc shares on the New York Stock Ex-
change for some time past, suggests that
there is more in the situation than man.
ipulation for profit. When Union Pacific
was selling around 90 many holders of large
blocks sold out. under the belief that the
rise was merely speculative. and that it
was not safe TO hold on longer. These
blocks were readily absorbed and the price
stlll rose. Further inside offerings met
eager purchasers; and when timid dealers
who had disposed of their holdings at
tempted TO buy back hey encountered a
fierce competition, under which the stock
rose 10 points. and the sales on Wednesday
reached the enormous total of co, 800 shares,
which, added TO the sales of Monday and
TUESDAY, gives an aggregate of $1,000
shares. the total shares of stock of the
company being but 900, 900. In all the talk
on the exchange there was nothing TO show
whether these enormous transactions were
for the purpose of securing control OF the
STOCK or were simply a manipulation for
profit by venturesome bulls. 1t was claimed
by some that among the buyers were men
known to be interested In Chicago q North
western, and having an eye to the creation
of a Vanderbilt ranscontinental line.
Whatever the hidden spring it is evident
that, while the Union Pacific is not seek
ing ownership of St. Paul, some powerful
interest Is aiming at control of Union Pa
cific: Ii is suggested that the purchase of
Burlington by the Northern Pacific and
0'NNt y ma hdNt 0ltdltu lNO VII
munities of interest, and that there exists
a Vanderbilt Kuhn Loeb combination as
well as a Hill-Morgan combination. The eff
feet of such a situation would be the
strengthening of the Vanderbilt roads, and
that party, having the New York Central
with. allied lines) and Northwest nothing
control of the Union Pacific. The Wall
street Journal. while questioning whether
Union Pacific is buying St. Paul, believes
II would be great railroad strategy for
Union Pacific TO obtain control of St. Paul.
and then for Northwest to buy or lease
Union Pacific with all its controlled lines.
And such a project would account for the
buying of ST. Paul and Union Pacific and
the strength i'm Northwest. Another idea
~advanced to account for the heavy trans
actions in Union Pacific is that. the pur-
chase of control of the Southern Pacific
having left a large minority interest out
standing who are opposed to spending all
the income of the road in betterments, but
are demanding dividends instead. they are
seeking control of the Union Pacific with
"A view to changing its policy and, conse-
quently, the status of the Southern Pa
cifc.
Railroad men are VIGOROUSLY reticent.
and wisely so, in view of the vast interests
involved. When they speak at all 1t is gen.
orally with a vagueness that leaves the
nearer free to form his own opinion, or else
the communication takes the form of a
general denial. Occasionally one speaks TO
the point. Thus. an official connected with
the Union Pacific assured a New York
newspaper that the story that the Chicago
* would lease Union Pacific
was true in all essential points. Russell
Sage was of opinion that a large share of
the strength of Union Pacific was owing to
the w~ell-grounded belief that il was TO form
an important link in a Vanderbilt Atlantic
Pacific line. on the other hand. Vice Presi-
dent Sykes. of the Chicago & Northwest
ern, says the relations between his com
pany and Union Pacific will continue as
they have existed for years and closer con-
nection is not contemplated.
The New York Press sees the figure of T..
III. Hartman moving in the background.
That gentleman came into prominence as a
railroad organizer and harmonizer five
years ago, and his touch has been felt in
more than one important affair. The Press
says he Is now about to bring to light his
conception OF a scheme FOR bringing into
harmonious relations the Union Pacific. the
Chicago a. Northwestern and the New
York Central systems.