Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1907-11-14
"What Will You Do About
ItW His Counsel Asks in
Court
GAYS ATS NoeoDVs BUSINESS
Attorney Asserts Railroad Masnats
Has Right to Secrets-Judge Takes
Time to Decide-Profit in Stock Pur-
chases Claimed to Have Been $685.
100000.

New York, Nov. 14.-The attitude OF
f. H. Hartman toward the govern
ment's efforts to bring him to account
for certain railroad transactions was
aptly set forth In the United States
circuit court yesterday when, as Frank
r. Kellogg, the governments counsel,
was questioning the propriety of Mr..
Hartman sitting upon committee to
fix the price Of stock he held and was
apout to sell to the Union Pacific, John
.E. Milburn, Harriman's counsel, broke
IN with II know, but what are you go
ing to do about it""
After seven hours and q half OF ar
gument on both sides OF the question.
Judge Hough announced last night that
re would not be ready to render a de-
cision on the petition Of the interstate
commerce commission to compel Mr..
Hartman to answer certain questions
rropounded to him last spring in the
course of the commissions investiga-
ton into the sO-called Hartman lines
until December l. The opposing coun-
sc! were given the privilege of filing
additional briefs during the next two
weeks.
Defends Right to Secrecy.
The arguments, which were not con-
cluded until $50 p. M, took wide
range, and the privileges and powers
of the international commerce COM
mission were thoroughly gone into.
Former Senator John &C. Spooner of
Wisconsin appeared for the first time
in the case, and argued in defense of
the position maintained by Mr.. Harri-
man-that he is not required to tell
the commission what individual profit
he made In selling the stocks Of other
railroads held by him to the Union Pa
citic Company or to detail the manner
in which the famous 10 per cent Union
Pacific dividend was declared in Au-
gust, 1906, and it's announcement de-
ferred for two days. Mr.. Hartman has
also declined to say how much stock
of the Union Pacific, If any, he bought
just prior to the announcement of the
dividend.
Mr.. Milburn was also heard in de-
fense Of Mr.. Hartman and In opposi-
tion to the petition filed by the COM
mission. On behalf of the government,
represented by the Interstate COM
-merce commission. the arguments were
conducted by United States District
Attorney Henry L. Stimson and Mr..
Kellogg. special counsel to the COM
mission.
Profit was s33,ooo,ooo.
Counsel for Mr.. Hartman declared
that the stock purchases of the Union
Pacific Railroad, amounting to $780,
100000 during one period and about
1882. 100000 In the aggregate, were
made on the recommendation of the
executive committee, approved by the
board Of directors and ratified by the
stockholders. All that Mr. Hartman
had done, Mr.. Milburn declared, lad
met with the fullest approval of the
stockholders of the Union Pacific COM
pany. He further stated that allowing
for losses sustained in the recent
heavy slump of prices the Union Pa
cific company had profited no less than
s33,O00,OO0 by it's stock purchases. Mr..
Milburn said this fact should silence
the claim of the commission that the
stock purchases tended to impair the
effectiveness of the railroads engaged
in Interstate business.