Bismarck daily tribune. [volume] (Bismarck, Dakota [N.D.]) 1881-1916, 1907-01-05
COMMUNITY OF INTEREST
Continued from Page !

Continued from Page ID
I'm steamers between either S.
Francisco or Portland and the Orie
ass was said the Occidental is in Ii
alton but it still operates two stea
rs. On the Atlantic ocean 1t II
hown the Southern Pacific owns
ne Of steamers running betwe
ew York and New Orleans, FORM
known as the Morgan line
The Union Pacific, by means Of
sreement signed by Hartman
anator William *. b Clark. has i
attic agreement with the San PED
os Angeles and Salt Lake railw,
extending over period of 80 year
his agreement was entered into -
1908 and by it's terms the San Pedr
cannot raise or lower its rates will
out the consent of the Southern Pa
cific company, which, it was stated
does not own one dollar Of stock ii
the San Pedro company.
The Union Pacific exercises ioin
control with the Chicago, Rock Island
& Pacific railway over the Chicago &
Alton railroad. This agreement is
that the Union Pacific shall have
charge of the road one year and the
Rock Island the next. This agree
ment, entered into by Mr.. Hartman
and w. B. Leeds, extends for a period
of ten years from 1904.
The Union Pacific owns $2s,12s,100
worth OF the stock of capitalization
of the Illinois Central railroad. The
Union Pacific also owns s5,032, 800
worth of stock of the st. joseph &,
Grand Island railroad, which is 37.37
per cent of the whole. The Oregon
Short Line owns $39,54O,6OO worth OF
stock in the Baltimore & Ohio Rail.
road company, this being 1852 per
cent Of the whole OF the Chicago
Milwaukee & st. Paul stock the
Oregon Short Line owns So 500. OoO
| worth or 3.42 per cent. The company
also owns s2,572, 900, or 2.5s per. cent
OF the stock of the Chicago & North
western, $10,Ooo,OOO of the preferred
stock of the Atchinson, Topeka and
Santa Fe, being 4.28 per cent, and
$14.2S5,745, or 7.97 per cent Of the
capital stock of the New York Central
and Hudson River railroad.
OF these holdings by the Hartman
companies, stocks Of the Illinois
Central, Baltimore & Ohio, New York
Central, Chicago & Northwestern
Chicago, Milwaukee & st. Paul
Atchinson, Topeka & Santa Fe, and
st. Joseph and Grand Island, aggre
eating in value sos. 2ss,745, have all
been bought since July /, 1906.
Where did the money come from p
asked members Of the commission
In reply it was stated that the Union
Pacific showed last July surplus OF
/ $51,000,000. The Oregon Short Line
declared a dividend of SO per cent on
its stock held by the Union Pacific
and also contributed out OF its gen.
eral assets to the purchase money.
| After placing in evidence all that
was available as to the ownership of
| the so-called Hartman lines" coun-
sci for the interstate commerce com.
mission then had Alexander Miller,
secretary of the Hartman company,
read from the minutes of many exc
cutiye committee meetings Of the
Union Pacific In which it was shown
that Hartman reported various
things he had done and the commit
tee simply voted to ratify and con-
firm his actions. \ Il
1t was also shown that Hartman
had been given authority by reso-
luton to borrow money for the use
of the Union Pacific company with
oul restTlction as 10 the amount or
! terms.
There was read from the minutes
copy Of Harriman's letter to George
j. Gould acknowledging Gould's let
ter in which letter he told Hartman he
had determined to support the con
struction Of the Western Pacific rail.
road. Mr.. Hartman told Gould he
would decline to qualify as a director
of the Rio Grande & Western, as be
did not wish to be in any way
responsible for the attitude of that
company toward the Western Pa
cific. THE era Of prosperity through
which we are now passing" wrote
Hartman to Gould, has been marked
! by less construction, Of destructive
1 competitive and non-producing lines
0f fra11anrrf fsou &s Tho orr, 4<,,x,, =,