The San Francisco call., 1907-03-16
HARTMAN IS De THR0NED
As Transportation KING
Squeezed by Allies and the
President Deems Him
a Menace

country lie is disgrace to the insu-
tution OF railways. He is stigma
upon these railway men and bankers
who tolerate and condone and help him.
Hartman does not know how to come
within the law He has TO go The
Government proposes TO follow him I'd
and expose his dealings and PRACTICES
against public morality and business
decency until il win be imposs bic FOR
him 10 stand up longer against the
storm OF public opinion that viii over
whclm him"
Morgan warned the President that
continuation OF the onslaught that
was being made against The railroads
would destroy their market value.
cause a panic and perhaps bring ruin
on the whole country.
Roosevelt replied that he had no such
fear. the safety OF the country would
be preserved merely through assuring
it OF its rights and protecting the in
terests OF its people; that there might
be q stock market panics that the values
of railroad securities might be i'm
paired or destroyed, but that they could
not alter his determination TO do his
duty. If the banks and the railways
were afraid Of panic IL was for them
so TO conduct themselves and TO com
pei their criminal associates TO con-
duct themselves that there would be
no occasion for federal action that
would threaten panic. He was going
on with his work OF stopping such acts
Hartman was committing. If the
financial powers thought more OF Har-
right; they could have their values de-
stroyed, If need be. but the Roosevelt
programme would go on.
Other consultations were had with
President Roosevelt and IL was prom
ised that in lieu of unrelenting war
on the railway situation his alterna-
tive Of getting rid of Hartman would
be attempted.
He was Informed that the bankers
that had undertaken to wrest control
OF Harriman's railroads from him
would be compelled to smash the mar
ket for Hartman securities.
on the executing of the programme
came the sudden break in the stock
market.
When seen by Cali correspondent
tonight Hartman laughed at the story
OF his overthrow and said
The control of Union Pacific has
not changed and no new interests are
IN the property. Undoubtedly during
the last few days great quantities Of
the roads stock have changed hands.
but nobody in my immediate surround
ings has sold any of his holdings.
If il is OF any public interest" added
Hartman. with emphasis. i want TO
say that all my associates are stand
ing beside me more closely now than
they ever did"
When asked whether he referred 70
financial or railroad associates, he re-
piled.
All my associates. If there are re-
ports that large quantities Of Union
Pacific have changed hands at private
sale. I know nothing about il. have
not examined the transfer books-be-
sides, the books are closed"
Reverting to conditions in the stock
market, Hartman said: I think the
worst is over. 7 have heard of no
body in trouble, but I don't doubt that
there are many lame ducks as we
used to call them when ] was in Wall
street
i am going to Virginia to join my
family. ] will probably be back Mon
day or Tuesday"
Hartman added that he had no in
tention Of stopping Of at Washington
10 see President Roosevelt.