The sun. [volume] (New York [N.Y.]) 1833-1916, 1905-04-12
HILL DROPS HARTMAN OUT,
IlH 1915 10 10 ~ D
he rs NO LONGER 4 DIRECTOR
OF'NORTHERN SIGNIFIES.

s.5EHt,z,, ara f.I1dHa1-s f,,sfs. ,-l
None o. tie Hartman stock Notet-ln
Ference IA That Peace ~ Not III sight
- whether Hartman Gan CaFTNFU' -
81 Bond Issue Interests One street
The stockholders Of the Northern secu-
rites Company did not reflect h. II. Harri-
man president Of the Union Pacific and
Southern Pacific railroads TO the director
ate Of the company at the meeting IN Jenfy
& City Yesterday In bis place tne3' chose
, Amos Tuck French, a son-ih 'lG'R on John &.
2 KnuBtY,, VINO Is -one.sofsdeEaes T. Hilfs
supporters In the Northern Securities Com
pany. Mr. French Is Rlso .yicerPreddent OF
tho Manhattan Trust Company, in which
the Hill interests are dominant.
The meeting was the second annual meet
Of the company, and has been adjourned
repeatedly since Nov. 4 last, the date fixed
for IL IN the articles Of Incorporation. The
directors to be elected were Of the class
whose term expired last November. Col
Clough. general counsel for the company,
presided and the other stockholders ana
proxy holders present we're Edward l.
Nichols, who acted as secretary. and Nlcho-
las Terhune. The meeting was kept open
an hour, from II to ~ O'Clock. At the close
It was announced that 2,64s, 900 shares had
been voted, and that, in addition 70 the
election OF Mr.. French, these directors had
been reelected; Robert Bacon, d. Willis
James, John S. Kennedy and Edward l.
Nichols. 81.
The shares voted represented the Hill
stock and proxies. The Hartman IN
terests were not represented, Eor, Vas
, said, have they been represented wee
last July. when Mr. Schif's proposition for
compromise Of the difficulties between the
conflicting eenents In the company was
defeated.
Mr.. Sohii and james Stillman are now
the only repre- sentativeS Of the Hartman
interests or the Union Pacific Company on
the Northern Securities directorate
officials Of the Northern Securities Com
many refused TO discuss the significance Of
Mr.. Harrman's displa cement. Mr. Hill, II
wns stated left town on an early afternoon
train. Col Ciougl. general counsel for the
company said that be. did not consider II
proper for an oficer ofthe company to dis
cuss the matter. When asked for a source
OF authoritative information he replied:
Possibly you had better go and $50 Mr..
Hartman" .,,
Offices il was stated that he left them early
in the afternoon. Friends Of his, however,
were reported "a holding up the incident
In derision Of all stories Of peace between the
conflicting interests. They also said that
neither Mr. Hartman nor his friends had
made any effort 70 retain him on the direc-
torate., There was current rumor that
Mr.. Schiff and Mr.. Stillman would soon
on the curb market Northern Securities
stock made a new high record shortly
before noon, advancing 20 l70k. Later IN
the day it fen Of but it closed strong at
Wan Street generally was inclined TO view
tho unceremoniops displacement Of the
leader Of the Union Pacific as sign Of
warfare 10 tho finish between the two groups.
It was declared that the next test Of strength
was TO come IN May when there is 10 be
held a special meeting Of the Union Pacific
stockholders 70 vote on the Hartman propo-
eition to make an issue of Sl0O,0O0, 900 OF
new preferred stock Union Pacific was
an active stock yesterday, 1880 shares
being dealt in without net change.
Another active stock was Illinois Central,
In which the transactions were $500 shares.
and which advanced from the opening price
Of 1872 TO 1881 at 80 and closed at i6sH
a gain Of 6I points over the opening price.
Brokers on the floor were inclined 10 con-
meet the demand for the stock with the plan
10 issue new Union Pacific bonds and the
opinion was expressed that the Union Pacific
was after Illinois Central with the idea OF
using it for grain traffic to Gulf ports,
Hartman is heavy holder Of Illinois Cen
trial stock. '
II was announced yesterday ,, that the
amount OF Union Pacific convertible bonds
exchanged for common stock on Monday
was $3.50 600 The total amount now out
standing is t44, 626 900. The amount Of
outstanding stock is $751;. 4OS, 200. The loan
crowd showed that the Kuhn-Loeb brokers
were still borrowers Of the stock.
Some well informed brokers we're inclined
TO connect the developments Of yesterday
with Mr.. Harrimans relations with the
Equitable and in this connection 10 predict
a long continuation Of the vigorous strife
10 that company. But generally the great
eat interest was manifest in the extent Of
the Hartman holdings in Union Pacific
and the ability Of the Hartman men TO
carry out their plan for a new bond issue,
There have been important changes OF
ownership Of large blocks Of Union Pacific
common recently