The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1901-02-02

Ohio for the Atlantic seaboard and
thus is established a complete ''Harri-
man. transcontinentaI route.
1t may, perhaps, be a coincidence, but
1t certainly appears highly significant,
that the announcement of the purchase
of the control of the Southern Pacific
should follow 50 closely upon the pur-
chase by Mr.. Hartman of the Chicago
Terminal Transfer company and its
connecting lines. A week ago Mr.. Har-
5-iman bought the Deutscher bank hold
ings Of this company through Messrs.
Kuhn, Loeb q Co, who are interested
with him in the deal, and who are like
wise interested with him in the present
deal The yards in and about Chicago
are owned by the Terminal company.
They comprise go acres, with r total
of $50 miles of track. The company also
Owls the Grand Central passenger sta
ton and $500 feet Of docks on the Chi
cage river.
Price About $50 a Share.
The concensus of opinion of men in
terested in railroads and stock mar
kets is that the price paid for the
Huntington shares was about $50 a
share. The Speyer holdings are known
to have aggregated about $4,000, if not
coo, 900, 80 that with the Huntington
block the new interests have 1000. 600
shares, or half OF the capital stock. Ru-
NOR has it that the Speyers got $4S a
share for their stock. It is stated on
authority, however, that the Speyers
have not sold their Southern Pacific
bonds.
The markets closing price on the
stock today was SAG &c. This is an in
crease Of So since Jan. 1.
Chairman Tweed was requested to
make some statements dealing with the
reported change of control, but he twice
declined to say anything. With Acting
Vice President Gates. of the Southern
Pacific, Mr.. Tweed is an executor of
the late c. p. HuntingtOn's VIII. The
banking house Of Speyer & Co. was for
some years prior to Mr.. HuntingtOn's
death the fiscal agent of the Hunting
ton properties. The Speyers held large
amounts of Southern Pacific bonds for
their European clients. According TO
current reports, they were anxious to
acquire possession of the Huntington
shares. It is said they made an offer
for the entire block, but the price Of
ferred was unsatisfactory It was then,
according to Wall street gossip. that
the Hartman syndicate stepped in, Oh
tanned an option on the Huntington
shares and named to the Speyer's the
price they were willing to pay all
around.
Largest capitalization in America
The Southern Pacific is said to have
the largest capitalization of the Amer
lean roads, its stock being capitalized
at 500 GOO Geo. The properties concern
ed in the deal directly and Indirectly
represent. 1t is said, an investment Of
$500 OOO 0O0 The Hartman syndicate is
supposed to be divided into portions OF
One-eightb, =. Il. Hartman holding
two of these and the rest being 'distTib-
uted as follows:
J. p. Morgan and ". X. Vanderbilt,
One-fOurth; Rockefeller interests, one
af-1arh .rertr-cn f.nuld nna-pigNfl-
Kuhn, Loeb & Co, one-fOurth.
The history of this transaction dates
back to shortly before the death of Col
lis p. Huntington last summer. Mr..
Huntington. to whom OvertureS for the
ACQUISITION of his stock were made, de
clined to sell His heirs, however, We're
more ready, but they refused, as well
as Mr.. Speyer. an offer of s45 a share
which the syndicate made to them for
the whole of their holdings. IT is I'M
derstOOd that they named a price ia
voring $50 a share as the one they
would consider. Such an offer was
made, il is said. but ii was not actual
~ accepted until today. II. E. Hunt
ington. nerhew of the late c. p. Hunt
ington, arrived here today, but declined
TO talk.
will You state what the figure was.
or who was she purchaser Mr.. Speyer
was asked late tonight.
No. said Mr. Speyer, that would
be contrary to my agreement with the
purchaser, who desired the facts 10 be
kept secret No, / can not say what
was the amount of my holdings"
Does this sale include or have any
thing To do with the Huntington hold
iugs2'
Il am speaking altogether Of my own
stock Whatever may have been done
in regard 70 the Huntington holdings
will have to come from others. There
is no dOubts however, that some ar
rangement was made with regard to
I