The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1902-11-15
HARTMAN OWNS 1T.
Has Purchased Outright a Controlling
Interest ia SOutherO Pacific.
KEENE TRIED TO STEAL II
But the Union Pacific Syndicate Was
Too Strong for The Bear.
his LOSSES ARE VERY HEAVY.
Pool Dissolved and His Stock Has Beer
Taken Away from Him.
HIS LOSSES ARE VERY HEAVY
ALMOST A PANIC IN WALL STREET.
Whole list Went or When the Fight
Was Made on Hartman, and the
Effects Are Not Entirely Lost


| New York, November a. Edward II
Hartman and his Union Pacific syndicate
! has routed the southern Pacific puol lcd
/ 10y James Kecnc aud by purchasing S1e,
! o0oo00 OF Southern Pacnc stock has Oh
tanned absolute control OF that system.
| Hartman has acquired an actual minority
Of the stock and practically completed tho
greatest railroad deal In the history OF the
! country In February 1901, the original
! Union Pacific syndicate paid STo,OOOoOO FOR
the southern Pacific holdings Of Coils p
Huntington, Leland stanford estate ana
the Croker holdings. That gave control
to them, through being the largest minority
holders Of oG0i miles Of railroad owned
operated or leased by the Southern Pm
ellie. Since thou the syndicate has added
| to us holdings rntIl az The inauguration
of the present market crisis. it held 500
0000oo and was within 100000 Of owuipp
majority Of etock BY the purchase ~
the Sl20oo.o0o additional stock this week
the syndicate now owps the road.
Included I'm the original Union Pnciac
syndicate were Edward II Hartman. John
j. Rockefeller George j. Gould. ID. o.
MINIS. Kuhn, Loeb u Co. aud speycr & Co.
which comprises the group Of richest men
in New York and The world
james Il. Kcene cndeavorcd to work on
| Hartman the same game Gates engineered
l SO successfully IN Louisville and Nashville
| when he ousted August Belmont from con
/ troll Quietly he and his aHsocIatcs have
been getting together great blocks az the
| stock II is said on the highest authorize
that the keene pool has been forced 10 soil
| out TO Hartman. Special editions Of the
evening papers put the losses Of the Keepe
pool at $lT0oo0oo
There was Wild time In wall street 10
dry, he Feeling at one time belng panlctv
Roports are that prominent Boston sner,.
tore Identified with copper are also hard
hit ono bank In Boston susnendnd and
mere VIII be serious trouble tomorrow nm,
less the big fellows step In ana srpnor,
inc market Tho Keoue pool has been dis
| solved although Mr. Kccne tonight denies
that he has disposed Of his holdings IN
! Southern Pacific lie hints he was be-
/ irayed hy some Of his associates who sold
out when the struggle with Hartman be.
came severe.
Southern Pacific dumped at great rate
today aud the whole list went off. Shortly
before Heene returned from Europe the
| STOCK was pulled from G5 "a ~: after he ar
rived he predicted mar for Southern Pa
clhc within few months. since then N,
Slooooouo bond issue proposed has been
abandoned. The securing OF complete con.
troll by Union Pacific means the POSTPONE.
ment Of dividends for about year.
Heretofore Union Pacific has controlled
Southern Pacific This of course left
open tn attacks by such combinations az
the Western group and evidently Mr.. Har.
riman and his associates decided to tax,
such steps as would prevent in their neck
Of the woods repetition of the louisville
| and Nashville deal The entire capital
stock Of the Southern Pacific IS $4,000.
COO. and as Mr. Harrman holds for Union
Pacific about S1O2, 100000. the control cau
not be taken from him. Just as W. X
| Vanderbilt took advantage Of the exleencies
to take over from the Western spectators
I Chicago and Northwestern stock at prices
$50 share less than they paid for It. so
! Edward II. Hartman has forfeited his po,
| stIon by buying control outright Here
after Mr. Hartman need not sit up ali
night TO watch his railroad system II Is
4 out Of the reach Of the raiders and safa
( from attacks by speculative or coyetous
SPECTATORS.