Omaha daily bee., 1902-07-30
HARTMAN ADMIRES ODELL
Governor Of New York Wins Railroad
kagnate's Respect.
BASIS FOR THE UNION PACIFIC STORY
shrewd Piece Of Financial Le%RisIstiOn
Achieved by the Governor Attracts
Attention Of Money Kings
OF Wall street.

The press report from New York yes
terday that Governor odell Of the Empire
state was to retire from active politics
to accept a high position with the Union
Pacific Railroad company al the command
ing salary Of 500, 900, with home and head
quarters in Omaha, recalls the rumor
which was set ahoat last winter when the
governor was preparing for his pleasure"
trip to the Pacific coast. At that time II
was said that Governor odell's trip west
was not so much for recreation as to afford
an occasion for a conference with e.. II.
Hartman and other Union Pacific mag
mates who were then in California.
Back Of these reports is said to be a
very fond admiration by the great fnan-
clers Of Wall street, in which dlstin-
guished class Mr.. Hartman and his asso-
.ciates will at once be accorded places, for
the young and aggressive executive Of New
York. 1t appears that the very elements
of greatness in these kings of
have been detected by them in the makeup
and administration OF Governor odell,
hence their admiration for him.
The principal proposition laid before the
, legislature by Governor Odell last year
was a new method of state taxation, which
is said to have first amused the Wall street
magnates and been looked upon by them
as a mere illusion Of a young and ambi-
.tious politician. But this scheme, which
was to do away with direct taxation and
utilize the resources Of the state so as
ITO simplify the system OF taxation, ~equalize
Ikhe returns upon great corporations and
tobviate the necessity Of the regular tax
gathering crusade, found easy access to
ethe commentator Of its former critics
when the legislature adopted it and the men
Of means had taken the time to thoroughly
study 1t.
victory for the Governor.
Governor odell had demonstrated, there
fore, the wisdom of his financial invention
lcoincidental with his just claim to the
title of a sapient financial statesman, and
more than this, had proven his ability to
push his plan to the front in the face of
Wall streets s~neering frown.
He had made his debut; he had passed
from the novitlate or experimental stage
of financial craftsmanship and was readily
recognized as a coming hnancler. From
that time until the time of the first re-
port that he had been spotted by the Har-
rimans as a financial manager for their
great system of railroads, Governor odell's
stock in Wall street is said to have been
above par.
II 10 bdlu lndI lnCoo aAdStb AuIuibh II
basis for the report published yesterday
that Governor odell had decided to leave
the statehouse at Albany and assume the
financial direction of the Hartman lines.
1t is as a fnRncier, therefore, according
to the reports, that the governor is des-
ignated.
OF this report, which, was published in
the morning papers. that Governor .Odell
was coming to the Union Pacific, President
Burt OF the Union Pacific, said:
II know nothing at all about the matter"
Mr.. Burt did not discuss the report or its
significance in detail, but made the state
ment that IL there was anything in 1t he
wis not aware of 1t.
Other Union Pacific and other local rail-
road men found considerable interest In the
report, but none, was able to reconcile 1t.
II do not see what position Mr.. Odell
could be given in Omaha" said one. 1.-THE
financing OF the road is all done in Wall
street and must Of necessity continue to be
done there. Mr.. Hartman has rather re-
Gently placed J. G.. Stubs in general charge
OF all trafic affairs of the system Of roads
controlled by the Hartman people and even
the auditing department, with Erastus
Young at the head, has Just been reorgan-
lied. Mr.. Burt seems secure In his position
as president Of the Union Pacific, so 1
can't see what place could be assigned or
even created for Mr.. odeIl or anyone else
at such a commanding salary as that"
Governor oden recently visited Omaha,
when he was given a dinner at the Omaha
club by President Burt and introduced to
representative professional and business
men Of this city There was no intimation
at that time of the proposed connection
OF the governor with the Union Pacific
Railroad eomDanv
Peck COunsels with Baldwin. y
The presence in Omaha of George X.
Peck, general counsel Of the Chicago, Mil
waukee e. st. Paul. from Chicago, and his
conference with General Counsel Baldwin
Of the Union Pacific, General Manager
Dickinson and other officials Of that road,
have given impetus 70, the report that the
Union Pacific has bought the Milwaukee
and will enter Immediately upon the ex-
tension work to the Pacific coast which the
Mnwaukee's old infringement had planned.
This extension, as has been published, is
to begin at Evans, S. D., the western ter
minus OF the Milwaukee. and run to Seattle.
Mr.. Peck reached Omaha Monday even
ing in his private car and left the city after
a private meeting with the officials.
An Important meeting Of executives OF
western roads ts In progress at Chicago
At which will be considered the atti-
tude OF the Illinois Central regarding rates
on soft coal and the remarkable increase
In freight trafhe Of the Wisconsin Central
since last March. About three months ago
The Illinois Central reduced its rates on
soft coal, and as a result all lines are now
carrying this commodity SO per cent below
normal prices.
The Wisconsin central's increase in
freight trafic has been so radical that It
IL now carrying about II per cent Of the
entire freight trafho between Chicago and
81. Paul. The Central claims that it's in
creased business Is due to the fact that II
was not enjoined from cutting rates as
other lines were.
Railway Commits Suicide,
ST. JOSEPH. Mo. July 2s.-Thomas
Payne, for many years a passenger con
auctor in the employ of the Chicago. Rock