The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1906-11-18

trail and regardless of the road that got
the business or other roads that wanted
the business.
Hartman is a much older man than
he looks, but he Is now at the zenith of
his powers. He is sixty. but doesn't look
more than fifty, and has the tlreless en-
ergy of man of twenty. He is one of
the veterans of the Stock Exchange, hav-
ing purchased a membership in August,
1870 That was SO years ago. 1t has been
many years since he set foot on the floor
of the Stock Exchange.
1.-THE old timers there who remember
him In the days when he was a broner.
hunting for business even of the s2-a- hun
dred-shares kind, say he was a very close
listed young man, who had tremendous
respect for a dollar.
Hartman has never been very popular
with the Stock Exchange crowd. He
reached the height of his unpopuarity
early in the fall by the tactics he pursued
when the dividend rate of the Union Pa
cific was boosted from to 10 per cent.
and Southern Pacific was put ON a per
cent basis
"This action was taken one afternoon,
but the news of it was withheld until the
next morning. Somebody made millions
out of the deal, as the stock sold off on
the day of the directors meeting because
Of the absence of any dividend announce
ment The next morning when the start
ling news was turned loose on the ex-
change, some time after the opening,
there was panic rise in the price of
both stocks. Before the boom ended Tn
ion Pacific had climbed $40 a share and
Southern Pacific more than $50.
Gathered Them In.
Hartman was credited with having ac-
cumulated blocks of both stocks for weeks
before the meeting, and men not given to
eXaggeration say he must have cleaned
UP at least $40, 900, 900 on that single trans
action, In addition TO the enhancement of
the values of the blocks he held for in
vestment.
while Hartman makes no visible
signs of feeling the avalanche of hostile
criticism which his methods continually
evoke men who are classed as his close
friends assert that he suffers keenly when
held UP to the public In an unfavorable
light. They describe him as a peculiar
kind of egotist who has sublime faith in
his own Righteousness and the pure NOR
ality OF his own methods in business mat
ters. He regards himself as the victim
of an unaccountabe and undeserved In
justice. They say that when he once en-
barks ON an undertaking he never per-
mits anything to swerve him, and regards
all criticism as part of the vaccinations
of his opponents, and consequently un-
worthy of serious attention.
THESE traits he partially disclosed when
he was on the witness stand during the
life insurance investigation. He assumed
a 'holler than thou position, which was
exceedingly irritating to others concerned
in the scandals. When questioned about
his efforts to force Thomas r. Ryan to
divide with him the ownership of the
Equitable Life purchased from young Mr..
Hyde he said 1t was enough to stagger
anybody to think of Mr. Ryan owning the
Equitable.
He made 1t clear that he regarded it
as a very bad thing for the poliey-holders
and their $3.50 ,0O0 OF assets to be in the
clutches of a man like Mr. Ryan, but
that everything would be all right if he
MIR. Hartmann were given a share in
the ownership of the society.
THAT was one time Mr.. Hartman was
in a big undertaking. He had
planned to get control of the Equitable,
and was willing to pay young Hyde a
much higher price than the 81, 500, 900 paid
by Mr.. Ryan, HYDE however refused to
sell out to him at any price. He accused
Hartman of posing as his friend through
out the first stages Of the Equitable war
and then turning on him and forcing a
which compelled him to sell out.
riman Indignantly denied.
Though nothing was said about 1t dur
ing the recent campaign, 1t was whis-
pered in many bankers offices that Mr..
Hartman contributed immense sums to
the cause of Mr.. Hearst. The Wall street
theory, right or wrong, was that Mr.. Har-
riman figured there was nothing to be
feared II Mr. Hearst were elected gov
ernor, but that the election of Mr..
Hughes, with his legal ability to get at
facts and effectively apply them, would
create condition of affairs in Albany
which might cause a dynamite explosion
at any time.
Ever since Benjamin B. Odel became
a power lin the state Mr.. Hartman has
also been a political power, but his pres
tige in this respect has been in eclipse
for the past six months. AS a Wall street
power, however, he Is greater than ever
before. Not only is he master of four
with 81, 700.O00.000 securities, but
the supreme power in twenty other corpo-
rations Their total wealth exceeds ST.
SOC, 900, co.,