The Cairo bulletin. (Cairo, Ill.) 1???-1928, 1907-01-05
GIGANTIC RAILROAD HOLDINGS
AND MERGERS LAID BARE
BY INVESTIGATION.
CONTROLS MANY ROADS
To Say Nothing of Steamship Lines
IL. p. Furnshde Money for
Mergers Which Were Made
Since July I, 1906.

Nc" hpih Jan. - -moueFn methods
Of combining and consolidating nam
moth railway systems and extending
the principle of c7mmunlty of inter
ests were delyed in,o today at great
length by the Interstate Commerce
Commission which began in this city
an inquiry into the so-called "Harri
man lines"
From here the commission goes
next week to Chicago. Several other
cities may be visited before all the
testimony desired is in the hands OF
the representatives Of the govern
ment. whose object is to determine
whether any of the railroads of the
country are consolidated or combined
in restraint of trade.
At todays hearing It was brought
out and admitted that the Union
Pacific railroad company. the South.
ern Pacific company the Oregon
Short Line and the Oregon Railway
and Navigation company are prac.
tically under the same administration
Hartman appearing as president of
eeach company with only slight varia
tion in the lists O. other officers.
l. was further shown that the
Southern Pacific company owns the
Pacific Mail Steamship company;
that the Southern Pacific company
and Union Pacific together hold a
majority of the stock of the Occi-
dental and Oriental Steamship com,
pany; and that the Hartman inter.
ests are in control of the Portland
and Asiatic Steamship company. All
of these lines run steamers between
either San Francisco or Portland to
the Orient,
1t waa said the Occidental line Il In
liquidation but that ii still operates
two steamers on the Atlantic ocean.
II was shown that the Southern PACT
fic line steamers RAINING between
New York and New Orleans formerly
were known as The Morgan line
The Union Pacific by means Of an
agreement signed Dy Hartman aud
Senator William A. Clark has traffic
arrangement with the San Pedro.
-os Angeles and Salt Lake railway
or 80 years. This agreement was en-.
cred into in 1903 and by its terms
he San Pedro cannot raise or lower
IS rates without the consent Of the
southern Pacific, which it was stated,
ocs not own one dollar of stock i'm |
he San Pedro company.
The Union Pacific exercises Joint |
ontrol with the Rock Island over the |
lion railway. The agreement is that |
he Union Pacific shall have charge |
( the road one year and the Rock |
-land the next. This agreement, en-.
cred into by Hartman and w. B. |
.ceds, extends for 10 years Nfrom
90I.
U. p. Holds I. C. Stock.
The Union Pacific owns S2S,123. 100
'orth of stock, or 1853 per cent of
ne capitalization of the Illinois Cen.
raj; also S5,0S2. 300 worth of ock
/ the ST. Joseph and Grand Island
abroad which 3I37 per cent Of the
hole.
The Oregon Short Line owns s3g.
10000 worth of baltimore and Ohio
ock. being 1862 per cent of the
hole stock. or the st. Paul stock.
le Oregon Short Line owns $500
20 worth or 3i2 pc cent. The com-
any also own $2.512.0C0 or 2.5S per
nnt of stock in tlc Northwesten:
l0,000.000 Of preferred stock of the
anita Fe. being As per cent ami
i,295.745 or 7.97 per cent of The
ock Of the New Yo,: Central
OF these holdings by Hartman
In stocks Of the Illinois
nntral Baltimore and Ohio. New
ork' Central, Northwestern. st. Paul !
anita Fe and ST Joe and Grand
land. aggrcgating sIO3 .293.7f5. all
I've been bought since July ]. 1906.
Where did the money come FROM"
ked the commission IN reply It
as stated thA the Union Pacific
lowed ~ July d surplus Of s5I.-
1000: that the Oregon Short Line
'clared a dividend o. % per asnt On
5 stock. held by the Union Pacific
ID also contributed ont Of its gen
al asset TO the purchase moneA
After placing in evidence an that :
rs available a. 10 The ownership Of =
q 80 called Hartman ines thel
unsel for tbe commissiln had AlckA
der Miller. secretary Of the Hari- y
an company read,from the minutes Q
many executive committee, meet
e Of the Union Pacific in which IL o.
is shoHn that Hartman reported f.
r.ous things he had done and the A
mmitfee amply voted 10 ratify and a
nfirm his actions II was also v
own that Hartman had authority
resolution 10 boz row money for a
es Of Union Pacific without Festric n
u az 10 amount O. terms. g