The morning Astorian. [volume] (Astoria, Oregon) 1899-1930, 1901-02-02
SOUTHERN PACIFIC
CHANGES HANDS
Control Secured by Syndicate in
Which U. p. PredOminates.
SINGLE LINE BELTS NATION
Hartman Syndicate for Union Paelile Ne.
ported 10 Have Purchased 100000
Shares at SIS Each speyer
Holdings Bought
SINGLE LINE BELTS NATION

NEW YORK. Feb. I.-Another rail-
road transaction. reaching. II is be-
hcvcd. much further In liz ultimate re-
suits than any OF the deals which have
thus far marked the closing Of the old
ana the beginning ~ the new century.
became known just a few minutes be-
fore closing of the market this after
noon, when the transfer Of th,, control
NJ the Southern Pacific Company into
the hands Of syndicate In which the
Union Pacific predominates was an
npunced
The transaction completes the last
| INK necessary Tor thr cstnblshInr nj Of
a trdnScontinenial railroad under single
control. This control Is at present
vested in T.. H. Hartman. The new
route includes The following routes with
all or which excep, the Southern Pa
cIhc Hartman is officially connected:
Starting from san Frlnclsco. running
over the Central Pacific direct TO Og-
den, thence. first. over the Union Pa
cIhc to Kansas city and thence over
the Chicago and Alton TO Chicago. or.
second. over the Union Pacific to Oma-
ha and thence over the Dubuque and
Sioux city branch of the Illinois CEN
tral direct 10 Chicago where the Balti-
more and Ohio connects direct to the
Atlantic scaboard.
The control Of the Southern Pacific
just transferred Included large hold
lngs controlled by speyer & Co. and
also the Huntington holdings.
Almost one year before the death OF
G.. =. Huntington what was known a.
the speyer- Huntington syndicate ac-
luircd. according 20 public reports. the
Crocker holdings having par value
ot S2g.OOC0OO, stanford holdings. $780,
o0ooO0 and the Hubbard holdings. SCI
GOO. 600
At the last annual meeting of the
Southern Pacific. Huntington voted
ninc-tenths Of the stock, which Included
proxies Of speyer and their friends.
The total authoriz d stock of the
Southern Pacific is 500 100000. II op-
Grated a great system Of roads ex-
tending from San Francisco to New
Orleans. thence by the company's
steamers TO New York, etc. and to
Portland. oregon, and to ogden. Utah,
with branches.
when viewed in connection with the
acquisition In November last by the
Southern Pacific Of the Pacific Mail
Steamship Company with Its immense
distributing power on the Pacific coast
The acquisition Of the Southern Pa
cihc Is merely another move in the
community OF Interest" policy which
has already secured such a vast hold
on the railroads OF the country 1t
means the establishment OF a complete
uanscontinental road governed princi-
pally by this policy Hartman is
president of the Chicago and Alton
road He Is also director in the I'M
ion Pacific, Illinois Central Oregon
Railway and Navigation Company, and
Oregon Short Line Railroad Company.
Properties concerned in the deal d.
lectly and indirectly represent, 1t is
said. an investment OF $500 100000. The
hartman syndicate Is supposed to be
divided into portions of one-eighth, L.
II. Hartman holding two OF these and
the rest being distributed as follows
], +, Morgan and w. X. Vanderbilt
Rockefeller interests one
eighth; George Gould one-eighth;
Kuhn. Leob & Co, one fourth.