New-York tribune., 1906-09-18
HARTMAN GETS B. x O.
SO WALL STREET HEARS.
l.. Il. Sea-tO-Sea Line to RiUaL
Gould Sgstem.

z. H. Hartman and his associates. II was said
yesterday in quarters usually well Informed,
have acquired control of the Baltimore & Ohio
Railroad Company. and purpose using it. with
probably the Chicago & Alton as the connecting
link in forming with the Union Pacific through
line from ocean to ocean
Mr.. Hartman and James Stillman have for
some time been directors OF the Baltimore &
Ohio. and presumably. with other members Of
the Union Pacific party. have been extensive
holders of it's stock 1t is now said that the
S4O,OO0.O00 In rOun& numbers. OF Baltimors &
Ohio stock recently sold by the Pennsylvania
Railroad Company 10 Kuhn. Loeb & Co. has
been disposed of by the banking house to the
Union Pacific interests
The Pennsylvania at the beginning Of this year
owned directly S3O.OOOOOO common and S21.-
4SO 600 pyeferred stock of the Baltimore & Ohio.
and held through it's controlled companies S19.-
SOC. eco more OF that stock. taking common and
preferred together. These holdings aggregated
S71. .sI9. 900. or nearly 40 per cent of the total
stock OF the Baltimore & Ohio.
II is now understood that the holdings dis
posed Of 10 Kuhn. Loeb & co. comprised the
$50 293 800 OF the common stock and about
S1OO00OO0 Of the preferred stock owned by the
PENNSYLVANIA directly leaving that company
still the owner Of about S11.Or0000 OF directly
held preferred stock and. through it's subsidiary
companies. of S196O66O0 additional stock OF the
two classes.
OF the 775OOOO new common stock offered
by the Baltimore & Ohio last spring to its
stockholders. the Pennsylvania had the privilege
Of subscribing TO about SO 100000 IT, as is be-
Ieved probable. the rights went with the
stock sold by the Pennsylvania. the Hartman
interests have obtained by exercising those
"rights''-the report being assumed correct that
they were the purchasers Of the holdings sold
to Kuhn. Loeb Co.-an additional S6O00O00
more of the new common stock
The Pennsylvania although having divested
itself Of so large part OF its Baltimore & Ohio
holdings. still has heavy interest in the prop
erty and must be considered an important
factor in it's control Moreover. IL is believed in
Wall Street that it would not have parted with
half of it's holdings TO the Union Pacific inter
ests without having received assurances that
the Baltimore & Ohio would not be operated IN
antagonism 10 IT,
The Chicago & Alton. which is controlled
Jointly by the Union Pacific and the Rock Island
extends from Chicago and from ST. Louis. ter
mini of the Baltimore & Ohio. to Kansas City
one of the eastern terminal points Of the Union
Pacific
The system which would chiefly be injured by
the establishment. of transcOntinental route
figured in the Street would be the Gould sys-
TEN. which within TWO years or so. on the COM
pletion OF the Western Pacific and Of the short
links in Southern Pennsylvania and Maryland.
will have a line from the Atlantic 10 the Pacific.
The relations between Mr.. Hartman and Mr..
Gould have long been understood to be not very
cordial and the Gould system part of II a new
line running through a new country, would. II
is thought meet formidable competition from a
system formed by the linking up of three fully
developed properties like the Union Pacific. the
Alton and the Baltimore & Ohio.
The Baltimore & Ohio Railroad has 4.4S3 miles
of track. exclusive Of sidings. with 1.522 loco
motives. 1.214 passenger cars and s2,O26 freight
cars. Its capital stock is S1S5.O0OO00. Its
funded debt consists of S227 262 $50 in bonds
issued and S9sS2.5O0 in additional bonds as
sumed. The company Is paying dividends on it's
common stock at the rate of per cent year.
The Chicago & Alton Railway has line 9a1
miles long with a total trackage. including side
tracks. of 1927 miles. It's rolling stock consists
OF 226 locomotives. 1TS passenger cars As bag
gage and mail cars and 9655 freight cars. Its
capital stock is S40OO0O0O divided equally be-
tween common and preferred II has a funded
debt OF S22,OO0O00. The preferred stock of the
company is entitled 20 dividends not exceeding
4 per cent a year.
The Union Pacific Railroad has 500 miles Of
track including the trackage OF leased lines
the mileage owned by the company appointing
TO 1855. II has $50 locomotives. 55T passenger
cars. 220iS freight cars and 2.439 misceIane-
Gus cars The company has outstanding slOS.-
712.9O0 OF common stock. 500 9.561 100 OF pre-
ferred stock and bonds amounting 10 s197.-
$4,000. Its preferred stock Is entitled TO divi-
dends not exceeding 4 per cent a year.
GETTYSBURG AND WASHINGTON TOUR
September 20. via Pennsylvania Railroad six-day