The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-05-03
a Great Money Fight.

The New York Commercial Advertiser
said last night: Friends of r. H. Harri-
man assert with much confidence to-day
that the syndicate, of which he is the head,
has not lost control of the Union Pacific
Railroad. This claim is significant, be-
cause persons closely identified with the
Hartman syndicate have repeatedly de-
clared within the past three days that
they could not tell anything about the situ-
alton. The confidence manifested by Mr..
Harriman's friends to-day is based largely
on the supposition that in the competitive
buying of last Tuesday the Gould and
Hartman interests secured enough of the
Union Pacific shares to restore their hold
ings to the majority point"
Discussing the Union Pacific situation
the New York Mail and Express has the
following: From the current tremendous
market movements in Union Pacific and
AtchisOn StOcks-big advance occurring
I'm each to-day-it became clear that "A fight
Is going on between great money interests
over the establishment Of transcontinental
systems. 1t now appears that this fight
centers around the plans of George Gould
ana r.. ii. Hartman 10 establish a vast
network of roads from the Atlantic to the
Pacific ocean. and w. X. Vanderbilt and
the Pennsylvania Railroad people, seeing
what was up, have made up their minds to
Illustrate them. With the Gould and Harri-
man people on the one hand, are said to
be Kuhn. Loeb q Co. who are identified
with the Union Pacific management. while
Mr.. Morgan is believed TO nave lent his in
ttuence to the Vanderbilt and Pennsylvania
forces. The Rockefellers. who are identi-
fed with Mr.. Gould i'm the Southwestern
deal, are said to have stood alOof from the
Union Pacific incident, and to have done
nothing which could be criticised by Mr..
Morgan, with whom they are associated in
many affairs.
There is another serious side to the
fight. The Pennsylvania has been trying
To prevent the entrance of the Gould lines
into Pittsburg. a recent dispatch from
that city stated that the Wheeling & Lake
Erie would not be so extended. but that
the Pennsylvania would allow Mr.. Gould
favorable trackage rights over the b. d o.
III is oftlcially stated to-day tnat this offer
viii not BE- accepted. but the Wheeling
road will be extended into Pittsburg as
rapidly as possible. This will directly
bring both the Wabash and the Missouri
Pacific. giving them a large steel and iron
tonnage. Mr.. Carnegie, before selling out
TO the steel trust, made a contract TO de-
liver a vast amount of his tonnage. aggre-
eating more than 100000 tons a year. to
the Wheeling roads. Mr.. Carnegie was
himself TO build an independent line 10 tide
water, presumably at Baltimore. He is
understood To have made an offer for the
Western Maryland Railroad. Now, it is
asserted. Mr.. Gould intends TO carry out
some such plan in order to prepare for any
fight that he may have with the Pennsyl-
vania and Vanderbilt people.
MIR. Gould has further irritated William
Il. Nandebilt by planning an extension of
the Wheeling road TO the vicinity OF Cleve-
land. When the new link of the Wabash,
i'm northern Indiana and Ohio, is built the
Gould system will have a direct line from
Cleveland 10 Chicago, paralleling the Lake
Shore all the way. Mr.. Gould's plans are
furthered by the backing of Mr.. Hartman
and Stuyvesant Fish. who are the leading
factors i'm the Illinois Central. The Illinois
Central has a direct line from Chicago to
Sioux City and Omaha. furnishing a con-
nection With the Union Pacific at the lat
ter point"