Waterbury evening Democrat., 1906-09-11

Sensatlon.)
 devote himself % the banking and brokerage business. which previously had occupied his attention. He incl dentally took up the handling of rail road securities, with which he had been intimately familiar from the very beginning of his active business career.
 It was really in 1900, however, that the magnate's commanding force of character revealed itself. And from that time until now he has held posi- tion which for prominence, importance and influence has been second to few in the railroad and financial worlds. It was in 1900 that MT. Hartman man. aged for syndicated interests that had purchased the Union Pacific. as it emerged from the hands of receivers, the purchase of the Southern Pacific, on terms that not only afforded the Union Pacific its direct outlet to the Pacific coast and the gulf. but gave the railroad control of the Morgan line of steamships, running between New York and New Orleans.
 If it was a surprise that Hartman should be called to such a position, what he has accomplished since has been a still greater and more remark. able surprise. In these six years the physical condition of the whole of what is now known as the Hartman system-including the Union, South ern and Central Pacifics, the Oregon Short Line and the 0regan Railroad and Navigation ompanies-practically has been reconstructed and from "a streak of rust" has been transformed into a standard railroad. brought up to the highest condition of physical per fection and made capable of being operated after the latest and most ap- proved methods of the day. The great Salt lake in Utah has been bridged and other physical obstacles have been overcome the surmounting of which up to the time that Mir. Harri. man took hold of them had been con- sidered impossible. Much of the ex- pense of making these physical im- provements has been met out of the earnings of what before had been bankrupt properties incapable of pay ing fixed charges. They have now been made to earn. in addition to the amounts appropriated for these i'm provements. immense dividends for their stockholders.
 Che year after his purchase of the Southern Pacific Mir. Hartman gave the railroad and financial world a sur prise great enough to throw them into a state of convulsion. and for a short time threatened almost univer- gal collapse. In 1901 James J. Hill purchased the Burlington road for the Northern Pacific. Mir. Hartman thought that purchase threatened Union Pacific interests. and demanded tha he be allowed to have a finger in the pie. He was brusquet refused. Before Mir. Hill or his associate, J. Pierpont Morgan. knev what vas happening. Mr. Hartman vas in the market purchasing control of the Northern Pacific with the result that on May 2. 1901. the price of the stock of that road scared to q GOO a share. Tvo days later Mir Hartman announced that he owned a majority of Northern Pacific stock Out of q total of s15s.O00.O00 he held shares of the par value of s7s.ooo. .000 \ com garrison of notes. however. showed that his holdings. ssI.9c1.el0. was preferred stock. which under the plan of reorganization could be retired at any time Mr. Hill and Mr. Morza, had s42.0os.oeo of tke common. ari this vas a majority Of inc controlling power Tke rcs-it was a cOzaprc1sse. as manifested in the organization of the Northern Securities cOnpany as a holiing ecncera for the seezrities of