Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1906-09-26
Railroad CIRCLES in the East Are
Greatly Stirred up
Over Il.
LINE FROM OCEAN TO OCEAN.
His Undertakings Place Him in Po-
sition of Being Worthy Successor
10 jay Gould,
Especial to the News. %

Washington, D. c.. Sept 2s.-RaiIroad
circles east have been greatly stirred
up for the past week over the purchase
OF large block Of B. & o. stock held by
the Pennsylvania Railroad company BY
the Hartman Interests. The ooufrma-
ton Of the rumor also that Mr., Har-
rlman had bought the Pennsylvania
holdings IN Reading shows TO the rail-
road world that L. II. Hartman is one
Of the commanding figures in the busl-
ness life Of today and worthy success
sor to that remarkable financial genius,
Jay Gould.
Il has been the dream OF Edward
Hartman ever since he became fac
tor In the Union Pacific management to
own and operate line OF railroad
reaching from ocean 90 ocean. After
his purchase Of the Union Pacific he
gradually absorbed the Central and
Southern Pacific, the Oregon Railway &
Navigation company and the Oregon
short line. With close traffic arrange
ments with the Chicago g. Northwestern
Hartman became a power In the west.
Not satisfied, however, with operating
nearly 5000 miles OF railroad IN the
west and northwest. Mr.. Hartman has
been intensely ambitious 10 reach the
Atlantic ocean and through the pur-
chase Of the Il. & o. and Reading stock
# win be but little while before a
man can leave San Francisco en- route
10 New York without leaving his car
at Chicago and ride the entire distance
on lines owned and operated by the
Hartman interests.
The coup which Mr.. Hartman
brought about in advancing the Union
Pacific stock 81 share IN a single day
illustrates the genius this man has for
large things. The Union Pacific it
must not beforgotten. was built largely
by the people. the direct debt 10 the
national treasury for aid extended 10
the enterprise amounted with accrued
interest 70 upwards Of 30 millions Of
dollars after Its reorganizations and
its emergence from the receiyeTship.
The government realizing the poten-
tial character OF the overland" system
aided the building OF the line from
Council Bluffs TO ogden by giving Il an
empire in public lands. 1t has been
selling these lands at prices but IL stiu
has left about 100000 acres with LAM
assets valued at nearly 10 millions OF dol
lars. Realizing that the railroad would
be infinitely stronger II the government
debt was wiped out plan OF payment
was arranged and the treasury enriched
to the extent Of the upset price agreed
upon. Edward Hartman was the d.
recting force 10 bring this condition Of
affairs TO pass and with bulldog per-
sistency he has gone ahead until the
pool Of which he Is the head has Iigged
the stock market TO the tune OF many
millions, while bis requirement Of the
b. & o. and Reading holdings makes
the Hartman properties among the
very richest In the world What boots
Il IL the Hepburn maximum rate bill
is on the statute book when the mar
ket can be manipulated as In the Union
Pacific case while the fellows on the I'm
side take the profits. The mastery man.
ner IN which Edward Hartman has
secured an eastern outlet is the largest
achievement IN railway manipulation
for decade.