Albuquerque weekly citizen. (Albuquerque, N.M.) 1891-19??, 1906-08-25

lproporilo les and operate them Final-
I IS d compromise was reached. he gov.
ornmenta loan 90 the compa y was
secured ANA a reorganization was Of
ferind "a 1897 which put the system
under iho control of the present Union
Pacific company William a. Harris
OF Kansas. then in the United States
senate, 9ns largely roapOnalhio for Sc
curing for the government many mile
lions more than would have been OBJ
talnod but for the persistent work Of
the Kansas senator and one or Two
others.
Rebuilding the system
The new company Immediately set
90 work 10 recover ttnnchea and d.
visions which had neon separated
from the system and 90 reconstruct
| tho road Immense sums were spent
| 10 this process of rehabilitation. Many
Icfalnent nnanclcra and railroad mon
I believed that too much money was
going into the road and that it would
again be forced Into receivers hands
But the era Of prosperity for the
whole country began nt about the
time The rehabilitation % the Union
Pacific was started. and the years
which have succeeded have fully Jus.
tlned the COURSE q ihc men who were
| IN charge.
". H. Hartman has been tho organ
lzing and inspiring genius Of me ayH-
tenn ever since ita reorganization. Htf
plans have been gigantic and they
have been carried forward WITH enorgy
and success
Having made a hrst-ciass SYSTEM
out OF the dismombcred and long neg
locled system. Hartman began 20
reach out lie bought Tor the uniun
Pacific, a controlling Interest in tho
great Southern Pacific system, for ita
connections on the Pacific coast
when this purchase was made the
popular idea was that Hartman would
Skin" the Southern Pacific IN the in
ter0st Of the Union Paclhc Instead
OF that he has brought both ays,oms
lup TO d high standard Of efficiency
and profit yielding and now has put
the Southern Pacific where Il has new
or been boiorc-ln the list OF dividend
paying companies.
The Hartman. hin Contest.
Whom James j fllll adopted pol
Icy that was accounted inlmical 90 the
/ Union Pacific, Hartman immediatoly
entered in 10 that memorable contest
for the control Of Northern Pacific,
which resulted Ia cornoring The mar
kct 10 rthat stock, running Us price
lup mumontarily 90 81 .000 n SHARE and
precipitatiug the panic OF May ., 1901,
tho worst that Wall street ever oxpor-
fenced. On that day stocks went 80
low that n wiser coun8cls had not
prevailed and brought about q rally
every bank IN New York would have
failed
But Hartman came out a winner
he hold q large interest IN Hili'a great
, railroad trust the Northern Securities
J company, and when that corporation
, was dissolved BY the courts the rods.
tribution Of Us assets put Hartman
} and ihe Union Pacific Ia control OF
{ large amount OF Great Northern stock
] The Union Pacific company thus
3 owna millions Of dollars worth Of th'
4 stocks OF other railroad companies
) land these holdings are estimated &,
p bn now worth 500 100000 more thar
7 their original cost. The Union Pacihl
. company therefore can pay dividend
. not only out OF the profits OF railroad
!. operation, but also out OF income iron
II NNNNNNNNlMNMNHf 4 MAa AMNAH NNNNNAfNA WAN'
o the phenomenal success that has BEEF
% achieved IN building up the business
q OF tho railroad, explains why Uuiol
r Pacific stock, which, ten years az
was scorned by investors and klcko
lnround Wall street with almost %
value. has now become a 10 per cen
T stock. selling for almost double Il
3 par value.
X
r.. scuuy. division slorekueper 70
y the Santa Re, with headquarters her
z loft this morning for Ia Junta, wher
y he viii meet his family, who are n
= turning home nom a visit to relative
Z IN tho east.
e Fireman T. y. Kelsey left this mort
1. ing for Denver. with a pass ia hl
n pocket good for thirty days. The boy
o say that Mr., Kelsey goes 10 Denver o
k matrimony bent.
r J. V. Key. supervising enginecr "a
z the santa 10 on the Belen cut-oi
o..