The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1901-02-03
A VAST REACH OF RAILS
System Stretching From Sea to Sea
Under One Management.
THIS IS VESTED IN {. II. HARTMAN
Kuhn Loeb and Company and the Rockefeller
Interests Are Behind Hartman. The Total
Authorized Stock of the Southern
n u mnnn nnn nnn
Pacific is $500, 600, 900.
IN the Associated Press.

New York, Feb. Another transac-
ton reaching, it is believed, much fur
Their in it's ultimate results than any of
the recent deals became known late this
troll Of the Southern Pacific Company
into the hands of a syndicate III when
the Union Pacific interests predomi-
nate, was announced. The transaction
completes the last link necessary for
the establishment of q trans-continental
railroad under single control now
vested i'm f. II. Hartman. The new
route includes the following lines, in ali
of which except the Southern Pacific
Mr.. Hartman is officially connected:
Starting at San Francisco. running
over the Central Pacific end of the
Southern Pacific direct to Ogden thence
first, over the Union Pacific to Kansas
and thence oyer the Chicago and Alton
to Chicago, or second, over the Union
Pacific to Omaha and thence over the
Dubuque and Sioux City branch OF the
Illinois Central direct to chicago
where the Baltimore and Ohio connects
direct to the Atlantic Seapuard.
The control includes the large roads
controlled by Speyer and Company
and also the Huntington holdings. The
price secured for these holdings is not
known
Mr. James s;peyer will only say:
"Wehave received 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 pur-
chasers control of the Southern Pacific
Company.
A statement that Union Pacific Harri-
man interests predominant in the syndi-
cate may be made on authority. The
syndicate IS composed of the capitalists
behind F. II. Hartman, including Kuhn,
Loeb and Company, who, it Will be re-
called. have very close relations with the
Pennsylvania Railroad interests, and of
the Rockefeller interests represented by
the National City Bank. The Huntington
stocks were secured some weeks ago;
their amount is not known. They were
bequeathed by Mr.. Huntington, Mrs.
Huntington receiving two thirds and Hen
ry Edward Huntington one-third, subject
to a condition requiring their mutual
consent to disposition of the stocks.
About year ago the Speyer- Hunting
ton syndicate acquired, according to pub
Iished reports the Croker holdings, par
value $29, 600, 000 and Stanford holdings
$50 900, 900 and the Hubbard holdings ST.,
900 COO 1t was also reported at the time
that the syndicate had purchased the
Searles holdings of $26.00000o. but this
was subsequently denied. AT the last
annual meeting OF the Southern Pacific
Mr.. Huntington voted nine-tenths of the
stock, which included the proxies of Spey
er and Company and their friends.
The total authorized stock CT the South
ern Pacific is $200. 600 900, including $67,
274, 200, exchanged ia 1899 for Central
Pacific stock.
The new deal gives Importance to the.
acquisition last November by the Southern
Pacific of the Pacific Mail Steamship
Company, with its immense distributing
power on the Pacific coast,
The present acquisition is merely an
other move in the community of interest
policy which has already secured such
a vast hold on the railroads of the coun-
try. 1t means the establishment of an
all rail trans continental road governed
directly by this policy. Mr.. Hartman is
president of the Chicago and Alton Rail-
road and director in the Union Pacific,
Illinois Central, Oregon Railway and
Navigation Company and Oregon Short
Line Railroad Companies.
1t is believed that George Gould will
be invited into. the present syndicate if
he has not already Joined.
The Central Pacific branch of the
Southern Pacific viii give the Union
Pacific almost an air line route from
Ogden its present western terminus TO
San Francisco The Union Pacific will
now have direct route eastward from
San Francisco to Omaha and Kansas
C!t--
The Chicago and Alton connects with
the Union Pacific al Kansas City and 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 COM
..a.e Hartman" trans continental
rorte.
1t is highly significant that this an
nouncement should follow so closely on
the heels of the purchase by Mr. Harri-
man of the control of the Chicago Termi-
nal Transfer Company, and its connecting
lines.
The concensus of opinion is that the
price paid for the Huntington shares was
about $50 per share and the Speyers S4S
The Speyer holdings are known to have
aggregated about $4,000 if not 500. 000
so that with the Huntington block the nsw
interests have about 100000 shares, or
half the capital stock 1t is stated by
authority, however, that the Speyers have
not sold their Southern Pacific bonds
Ill nNrA- TO ArnAHc