New-York tribune., 1905-04-12
HARTMAN OUT OF N. S.
Retires as Director Company May
Be Wound Up.

z. H. Hartman. who has been one OF the
three representatives. OF the Union Pacific in
tereEts in the hoard Of directors Of the Northern
Securities Company. was yesterday succeeded
as member Of that body by Amos Tuck French,
vtce-president Of the Manhattan Trust Company.
among the directors Of which institution are
President James J. Hin George F. Baker and
Daniel s. Lamont directors of the Northern Sc
curities Company The election of Mr.. French
took place at the adjourned annual meeting OF
the Northern Securities stockholders. when Rob
ert Bacon d. Willis James. John s. Kennedy and
Edward 7. Nichols. who. with Mr. Hartman.
composed the class Of 1914. were reelected for a
term Of three years.
The total vote cast was 2.6S4.3s4 shares. the
Hartman interests not voting It is understood
that the Harriman-Union Pacific shares have
never been voted since July Of last year, when
a resolution offered in the Northern Securities
board by Jacob II. Schin. providing for the ap-
pointment Of committee Of five Ito ascertain
whether il viii be possible to determine upon
measures satisfactory TO all interests. through
the adoption Of which the liquidation Of the
company can be completed in the near future
failed 10 hnd second and was dropped. At the
time Of that meeting Messrs Stillman and Her-
riman were in Europe
We'll Street speedily drew the inference from
the superseding Of Nr Hartman by a Hill rep
TesentstiNe III the Northern Securities director
ste that the old aninosity between the Morgan
Hil and Hartman Kuhn-Loeb parties. dating
back 70 the period Of the struggle for control Of
the Northern Pacific. had after all not dimin-
ished in intensity From authoritative sources
81 is learned, however. that the retirement OF
Nr Hartman was not a hostile move on the
part Of the dominant interests in the company.
The stockholders meeting yesterday ad-
5ourned 10 April l.. when the mandate of the
United States Supreme Court relating to the
distribution of the Northern Securities Com
pany's holdings Of Great Northern and North
ern Paciflc stocks is expected 10 issue and II is
probable thar Immediately thereafter the neces-
sary formal action win be taken for carrying
into effect the plan of pro rata distribution
II is understood that the controlling interests
are seriously considering the winding up OF the
corporation entirely. distributing its remaining
instead Of continuing il as a S4OOOOOO company
In line with that plan. IL is sald. Is the proba-
bility that Mr. Stillman and Mr., Schlh may
before long retire from the board, leaving the
task Of winding up the affairs Of the company
N the hands Of a directorate entirely repre-
sentative Of the Hill-Aorgan group who will, of
course. have the Same percentage OF stock
amounting TO a clear ma1ority-in the smaller
corporation they hold in the Northern Sc
curities Company as al present constituted. Ac-
cording 70 Wall Street report. stock dividend
viii probably soon be declared TO the holders
o. Great Northern shares. which have this week
touched the high record level of 323.
On the curb yesterday Northern Securities
sold as high l1o&z. a new high record, but
closed al 1851 bid 16S5s asked. practically
changed from Monday. Northern Pacific when
released" advanced ~ points TO $50