The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1902-01-26

EIS CnC OO0 Of Northern PaclHc stock and
the Union Pacific, through thc voice OF us
directors. controlled the southern Pucihc.
q was developed that gu this Northern
perhc stock. which was held in the names
of J.. n Hartman and WiHs.ow Pierce
was sold last summer an effort was ndde
Ia learn why tbe purchase had been nude
only 90 sell again. aud this brought from
Mr Hartman the statement that ho was
glad 70 explain he so-c9Ned contest In
thc New AotS stock e1chaige which re
81 don't think that there was any CON
test sald Mr. Hartman. Some OF us
the oregon Short line people thought Il
would be advantageous 10 have an interest
IN Northern Pacific and purchased stock
that was lying loose all over the country
and Europc-held by nYe TO seven thousand
mol OF Northern Paciac-we purchased
majority " the capital stock We pur-
chased prior TO the supposed contest ana
no stock was acquired during the panic In
Nay"
Mr.. Day tried to show that the contest
for the Northern baCibc stock was the
forerunner of the panic Of change, but Mr.,
Hartman Insisted that II was not
The commission attempted to draw out
statements that the final sale OF Northern
Pacific stock by the Oregon Short line las
controlled 10y the Union Pacitc Southern
Paclhc syndicatel was only after an ruder.
standing by Mr. Hin and the supposed in
tercsts that cOmbatted for the Northern
Pacific In the panic
Mr. Hartman said that. afIer the public
scare he and his colleagues thought better
90 sell again. lie implied that IL made no
difference really who owned Northern Pa
cihc Commissioner Prouty asked ~ YOU
secured n few millions OF Northern FacfSc
II would have made d difference, would 1t
nOtT'
we could have held IT," was the reply.
The question as 20 Just why Mr.. Ilarri-
man had disposed II his Northern Pacilc
holdings. what WAS lost or made by the
transaction anu whether Nj Hin had
made some agreement IN case tho holdings
were sold, brought from MI Hartman
the response that natural conditions con.
uO.led
lie said he aha not know Of any gain
! made except may his interest found out
own tn Puchc trufnc lie sUid Mr. I'M
mad given No assurances Of any traffic aud
that the motive for purchase had been 10 q
OF preserving TO the Union Pacific sys-
tenn the avenues OF traffic open to It,
You wish to represent that 10 one OF
the other half OF he Northern Pacific In,
tcrCsts made any promises IA ControlT'
Mr. uurrlnan replied; 'rhctc Is n COM
mon Interest among us all and we believe
that common interest VIII be served re-
gnldloss OF holders, That common later
est can be served by natural conditions,
We can not injure others without injur M
ourselves
Mr. Hartman insisted that the common
lntereSts OF all systems now affiliated un
der the Northern Securities company must
be considered rather than the SO called
Community ~ interests" He sIld he was
member OF the board OF directors OF tbs
securities company ana Mr.. Hill was li'
president but the combination anccte.
I ties In no wise.
He told how, shortly after the scramble
over Northern Pacific stock, MIR. Morgan
had been given q proxy 10y him In ordel
TO sell the stock ag0iu. II was understool
the sale was to he effected IN cash ans
Eecurltes--the latter In the Northern SeCu
rifles company u Il should hc organized
Mr. Hartman eventually controlled nhou
s6O.O00OCO OF the stock Of the company
The question Of the formation OF the North
ern Securities company and the assOCia
ton O, SO many roads might influence rate
brought deuial.
The compalui has been OF too higl
gstcE." said Mr. Hartman. I'VE may bu
able TO stop the discrimination In rates %
one shipper against another"
The commission Will meet next Wednes
day at Washington.