New-York tribune., 1903-03-09
TO END S. p. FIGHT.
Negotiations Betueen Keenc Pool
and Hartman Interests.
DEVELOPMENTS EXPECTED SOON.

1t is learned excellent authority that
negotiations nov under way for the settle
ment OF the fight between the so-caed keene
pool in Southern Pacific stock and the Harri-
interests, who are practically in control Of
the Southern Pacific company through stock
ownership invested in the treasury of the Union
Pacific Railroad. Important developments in
the Southern Pacific fight tending remove the
cause for current differences may he looked for
in the course of a few days and according to
information secured from f1nanCiers who make
the Waldorf their headquarters arrangements
will he made by which the minority holders in
Southern Pacific will carry out their pro-
posed plan to overthrow the Hartman manage
mtnt.
A few days ago the secretary nf the Southern
Pacific company served with legal notice
that injunction would 30 applied for on be-
half of Talbot J. Taylor & Co. representing the
minority holders in Southern Pacific, prevent
ing the voting of the Southern Pacific stock
held by the Union Pacific: else demanding a list
of the stockholders of the Southern Pacific COM
pany Within an hour of this service the notice
withdrawn without any explanation from
the law firm representing the Southern Pacific
minority hold ars. Subsequently it
nounCcd that the orti-r had been withdrawn. as
it found that a list of the stockholders could
he obtained after the closing of the company's
this hasty retreat was. according to reports
Yesterday. overtures from the Hartman in
terests for an amicable settlement of the trouble
The southern Pacific stock pool. headed hy
James r. keene, organized a year ago for
the purpose of acquiring enough stock to force
the Union PaCifc managers of Southern Pacific
to place the stock a dividend basis. and to
force them provide for improvements and for
refundng purposes by means of a bond issue.
worked the price up to 81 last September Con
trary to the expectations of the pool. the Harri-
man interests declared that dividend should
he paid until contemplated improvements had
been financed from earnings. and their action
was commended in all circles save in quarters
where heavy pool holdings of the stock existed
The last report of the Union Pacific showed
that the company owned $DUnHO Southern
Pacific stock out of a total issue of $19S,osb0hD
The POOLS holdings amount to about S2O.Hn.HD
of stock From a price of 81 last September
Southern Pacific has steadily declined 3Nl2.
Southern Pacific and Union Pacific stocks have
been bought by important financial interests
the decline. while the short interest in both
stocks is thought be enormous. The attack
on Union Pacific and the rumors of fight be
tween the keene and Hartman interests were
important factors in inducing general liquida-
tion in last weeks market.
1t can readily be seen that a settlement 0f
the differences between these powerful financial
interests Will cause a cOnSidera BILE slaughter
among the shorts. 1t was thought. after the
close of business Saturday, that heavy
of town selling orders would be sent in for exc
Cution at the opening OF the market to-day. but
it was generally believed that support would
be forthcoming of a substantial character.
The money market situation does not suggest
paniCky conditions. If necessary the $,D.sD,Hn
pool that was organized last fall to protect the
rio will ,r1i1 10 Is
turbance Stocks are now. aS a rule, under the
low level reached in last falls panCky market.
Weak holdings have been forced out. and 1t IS
not believed that liquidation Will run much fur
har