The San Francisco call., 1904-12-09
Helman Sells Stock
in Pacific EIeC-
trio Line.
H. B. Huntington Buys the
Shares for Himself and
E. H. Hartman.
San Francisco Capitalist DispOSeS of
His Interest in the Interurban
System Of Los Angeles.

Banker I. W. Hellman has sold his
Interests in the Pacific Electric Rail-
read Company of Los Angeles 10 Henry
z. Huntington. The transfer was ef-
fected at meeting held at the Palace
Hotel yesterday afternoon and goes on
record, as one of the biggest deals Of
a railway character transacted in this
city for many months.
There were present at the meeting
J. ". Hellman. Henry E Huntington
and William r. Herrin, chief counsel
Of the Southern Pacific Company He
acted as the personal representative of
(. II. Hartman.
Although the documents signed at
the meeting did not bear the name of
Hartman, ii was announced on good
authority after the meeting that Hunt
ingtOn had purchased Hellman's in
terests in the electric system on ac-
count Of himself and Hartman. The
news Of the withdrawn of Banker
Hellman came as a surprise to those
who have been closely watching the
affairs Of the street railway magnates
Of Los Angeles. 1t was only recently
reported from the south that Hellman
had become dissa tisfied with the policy
Of the street roads in which he was
interested and had joined with Harri-
man in defeating Huntington's ambi-
tion TO elect a new hoard of directors
friendly TO himself
At yesterdays meeting, however. il
appeared that the three railway men
We're on the besL0f-terms-an that II
a renewal Of hostilities between Harri-
man and Huntington had been contem-
plated they have now been abandoned
While Banker Hellman declined to be
interviewed last evening on the results
of the meeting one of his close friends
volunteered this statement:
Negotiations between H. E. Hunt
ington and J. W. Hellman for the
transfer Of the latter's interests in the
Pacific Electric Railroad Company Of
Los Angeles to the former have been
going on for several weeks and finally
resulted in Huntington coming 10 this
city TO meet Hellman. At yesterdays
conference Hellman set a price for his
block Of stock and Huntington accept
ed the figure. You may state that
Notwithstanding reports to the con-
trary, H f. Huntington and E H
Hartman are on the best of terms in
so far as their business relations are
concerned, and that yesterdays DUR
chase was made jointly for Hunting
ton and Hartman, who viii hereafter
direct the policy Of the big Los An
geles street railway and its interurban
extensions Hellman, however, retains
MS interest In the Los Angeles Rail-
way Company, in which he and H. E.
Huntington are the principal stock
holders"
The Pacific Electric Railroad Of Los
Angeles is the biggest system of its
kind in that city. 1t controls the inter
urban lines, which for a time threat
ened TO make war between the South
ern Pacific Company and the street
railway owners. 1t is regarded rs one
OF the most valuable properties in this
State. Why Banker Hellman, who was
az important factor in the financing Of
the road, should have decided to retire
IS a matter he and his associates are
not inclined 70 explain. 1t was said
by one OF his friends last evening that
EellmaD had realized q good profit
from the sale Of his interest and was
satisfied to withdraw
H. Z. Huntington, Immediately after
yesterdays meeting, announced his in
tention Of departing to-day for New
fork, where he will meet President
Hartman Of the Southern Pacific Com
peny, and with the latter he will de-
eide on many extensions of the Pacific
electric road. which have been in con-
temptation for number of months