The age-herald., 1901-02-02
UNION PACIFIC SECURES CONTROL
 OF THE SOUTHERN PACIFIC SYSTEM
The Enormous Transaction Completes the Last Link Necessary for the Establishment of TransContnenta Railroad Under
 Single Contro-Aarrman Syndicate Made Deal

New York February 1-Another railroad transaction, reaching, it is believed, much further in it's ultimate results than any of the deals which have thus far marked the closing of the old and the beginning of the new century, became known just few minutes before the closing of the market this afternoon, when the transfer of the control of the Southern Pacific Company in- to the hands of syndicate in which Union Pacific interests predominate, was an- nounced. The transaction completes the last link necessary for the establishment of trans-contnental railroad under sin gle control. This control is at present vested in E. H. Hartman. The new route includes the following lines, in all of which ex- cept the Southern Pacific, MT. Hartman is officially connected:
 Starting at San Francisco, running over the Central Pacific end of the Southern Pa cifc direct to Ogden thence first over the Union Pacific to Kansas City and thence over 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 seaboard The control of the Southern Pacific just transferred includes the large holdings con- trolled by Speyer and Company, and also the Huntington holdings. Tn price secured for these holdings is not known.
 Speyer is Satisfied.
 James Speyer, when questioned would make only the following concise statement:
 We have received a satisfactory offer for our holdings of Southern Pacific stock and have accepted it."
 From a reliable sourse, however, it may be stated that holdings of the Huntington estate in the Southern Pacific have been acquired by the same interests which pur- chased the Speyer stock, and that the two blocks in connection with recent purchases in the open market, which have been re- sponsible for the sharp advance in South- ern Pacific securities, have given the pur- chasers a working control of the Southern Pacific Company.
 The statement that Union Pacifc-Harri- man interests predominate in the syndicate may be made on authority. The syndicate is composed in the first place of the capital ists who have been behind E. H. Hartman, including Kuhn, Loeb & Co.,, who, it will be recalled, have very close relations with the Pennsylvania Railroad interests; and, sec ond the Rockefeller interests represented by the National City Bank.
 The Huntington Stocks.
 There is good authority for saying that the Huntington stocks were secured some weeks ago. The amount of such holdings is not matter of public knowledge. They were bequeathed by MT Huntington, Mrs Huntington receiving two-thirds and Henry Edward Huntington e-third, subject to the condition that such shares should not in whole or in part be disposed of during the lifetime of either, except with the consent or both such legatees or the survivors Of them. About one year ago, before the death of MT. Huntington, what was known as the Speyer- Hunt tington syndicate, acquired, ac- cording to published reports, the Crocker holdings, par value $29, coo, and Stanford holdings, $90 600, GOO. and the Hubbard hold ipgs $2, ,000, ,000 It was also reported at the time that the syndicate had purchased the Searles holdings of $26, GOO 600, but this was subsequently denied. At the last annual meeting of the Southern Pacific MT. Hunt ington voted nine-tenths of the stock, which Included the proxies of Speyer & Co. and their friends.
 The total authorized stock of the South ern Pacific is $2OO, ,000, 0O0 including $67,274,- 200 exchanged in 1899 for Central Pacific stocks. The Southern Pacific owns no stock in fee, but principally by ownership of stock and partly by lease it operated a great system of roads extending from San Francisco to New Orleans (thence by the companys steamers to New York, etc,), and to Portland Oregon, to Ogden, Utah, with branches.
 Importance of the Deal.
 The importance of the new deal grows when viewed in connection with the acqui- sition in November last by the Southern Pacific of the Pacific Mail Steamship Com many with it's immense distributing power on the Pacific coast.
 The acquisition of the Southern Pacific is merely another move in the community of interest policy which has already se- cured such vast hold on the railroads of the country. It meats the establish ment of an all-rail transcontinental road