The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1907-01-06

| the minutes. 1t included leCler from
| William Rockefeller written November
). 1903. to Mr. Hartman, saying that
| pursuant TO their agreement or March
| 80, 1903. as TO 1000 shares of South
| ern Pacific common stock lie would be
glad to have Mr.. Hartman take over
| the stock at that time instead OF wait
ing for the expiration of the agreement
in March, 1907 If Mr.. Hartman would
do so Mr. Rockefeller sad he would
reduce the rate of commission he was
| to receive.
| s'Do YOU know what the agreement
between Mr.. Hartman and Mr.. Rocke-
feller wasl''
81 do not.
Rockefeller Gets Good Deal,
| ''Do You know any reason for an
agreement by which Mr.. Hartman
| $50 600, 900 worth of Southern Pacific
| stock 10 Mr. Rockefeller and then take
| this stock back in November and pay
| Mr. Rockefeller a commission Of $751;
| 500 on that transaction
| Mr.. Millar said he knew nothing of
| the conditions.
''Didn t the Oregon Short Line take
this back at the same price it sold 1T
for and pay Mr.. Rockefeller 6 per cent
interest bcsides?'
81 don Z know
600 you know Of any other stock
sales of this sort to directors
"This is the only one [ have any
"Then you don't know the reason
for this one'"
| Mr.. Miller read further entries in
the Oregon Short Line minutes deal
| ing with various details as TO the mau-
agement of the other Hartman COM
panies At one meeting of the Ore
| gon Short Line executive committee
| Chairman Hartman reported that he
had contracted for the purchase of two
ocean steamers from the Atlantic
| Transportation company for S2,2OO,O 600;
| the chairman s action was ratified and
confirmed
The bylaws of the Union Pacific
werc amended in April, 1905, so rs to
provide that the president should have
| the care, supervision and control Of
the companv's business in all it's de
| partments. subject 10 the control of
! the executive committee. There was
! further amendment 10 the effect that
| the Offices Of president and chairman
! of the executive committee might be
! held by the same person,
Declaring tho Dividends.
Counsel for the commission then in
! ouircd as 10 dividends declared last
| August by the Union Pacific and
! Southern Pacific.
At meeting Of the Union Pacific
directors on August Is, 1906, II ap-
| peared from the minutes, Chairman
| Hartman submitted n statement OF the
compauv's financial condition. 1t was
then decided 10 declare n semi-annual
| dividend Of 50 per share on the pre-
| ferred stock and So share on the COM
mon stock.
',Read the portion as to deferring
| the announcement OF the dlNldend,
! directed Mr.. Kellogg.
Chairman Hartman stated that as a
! number Of the directors were absent
| he thought the announcement of the
| dividend should be deferred until they
could be informed
The executive committee was there
upon authorized TO announce the divi-
| dend at such time as il deemed proper,
and was also authorized 10 designate
the funds or revenues against which
! the dividend should be charged.
The executive committee met August
| i6. 1906 and directed the secretary To
notify the secretary of the New York
stock exchange on August II, prior to
the hour for the opening of the eX
change, of the declaration Of the divi-
| dend.
:" Do you know from what funds the
dividends were paidl"
| S'My books do not show.
Glow many direc tors were present
! at the dividend meetiug7'
''Nine out of sixteen
The Southern Pacific dividend was
declared in precisely the same way as
| the Union Pacific.
"Have you the financial statement
which Mr.. Hartman submitted to the
directors Of the Union Pacific?
~ have not; 1T may be on file at
my office"
MI Millar read minutes ,f the Union
| Pacific executive committee approving
action of Chairman Harrima min or
ganizing the ''Pacifc Fruit Express
| company TO own refrigerator cars,
and the - Union Pacific Equipment as
sociation.
Mr.. Mahl Again Testifes.
William Mahl, the Union Pacific con-
! troller, was called. He was asked yes
terday TO make a number of statements.
These he submitted One of these
showed that all the stock of the Port
land & Asiatic Steamship company be
longs to the Oregon Railroad &, Navi-
CATION company a second statement
gave the names in which the 900 900
shares Of common and 10000 shares Of
| preferred stock of the Southern Pacific
railroad belonging 10 the Oregon Short
Line are held. All of this stock is now
under a mortgage to the Equitable
| lIuSJ company Against Lnr mortgage
on this and other stocks, sl00,001,O0O
Oregon Short Line bonds were issued
in 1905.
what was done with this money?'
FPart Of this was 70 retire S32. .000,-
600 of participating bonds
why, were the participating bonds
issued ~
~ don't recall. will make up a
statement at my Office
1t was brought out that an item of
$2,200,000, charged to operation ex-
penses. was really not an operating ex-
pense, but n sum set aside for extraor-
dinary repairs, betterments, etc.
Counsel for the commission an.
noWnced there were no more witnesses
to be heard in New York at this time
a subpoena WAS issued for William
Rockefeller to be heard at the next
meeting In this city.
The hearing then was adjourned until
Tuesday next at 10 a. III. in Chicago.
Ladies' Birai Israel TO Meet.
The regular monthly meeting of the
Ladie5' Auxiliary Society of Temple