The Mena weekly star., 1907-02-28
HARTMAN s TESTIMONY
Railroad Magnate Gives Some h. teresting Facts Regarding the
 Deal in Alton Stock.
TOLD OF THE ILLINOIS CENTRAL FIGHT
Mir. Harriman Said President Fish Was Deposed Because of His Dis regard of Desires of the Directors How the Rock Island People Were Taken In.

New York, Feb. 27.--When the in ter-state commerce commission re- s,med its sitting Tuesday Commits soner Prouty was not present. MT. Hartman entered the room and walked directly to the witness chair. MT. Kellogg. with bundle of docu- ments in his hand. stepped to the clear space in front of the witness and plunged directly into the ex- animation.
 Mir. Hartman testified Monday that he did not know whether he had an interest in the Laclede Con- struction company which had built the St. Louis, Peoria & Northern railway, and when he took the stand Tuesday morning MT. Kellogg pro- duced a contract relating to Chicago terminal transfer showing that Har- riman. George J. Gould, James Sti l. man and Jacob Schiff were the owners of the company. The witness said the document was no doubt correct and that possibly he had acted in fixing the price of the road when 1t was sold to the Alton.
 MT. Kellogg also produced two original checks to show that Kuhn, Loeb & Co had been managers of the Alton syndicate, and the witness, who l had been unable to remember Mon- day, said that Kuhn, Loeb & Co. un- doubtedly had been the syndicate managers.
 After reciting a statement of the Chicago & Alton railroal showing the interest charges, MT. Kellogg asked | the witness if he thought 1t was right to put upon the public the large issue of common .stock which never would and never could pay divi- dend.
 Did we ever tell the public 1t would pay a dividend?' asked MT Hartman quietly. He continued:
 "No dividend was ever promised and in addition the public got the services of the Chicago & Alton at 30 per cent less in 1906 than they paid in 1898. The road also enabled | the commercial concerns located along it's line to increase their busi- ness three-fold."
 "Then the Chicago & Alton re- duced its rates much faster than the Union Pacific?" asked MT. Kellogg ~The Union Pacific has nothing to dc with this. We are now considering the Chicago & Alton,' was Mir. Har- riman's response.
 Mir. Kellogg asked MT. Hartman il there was anything to show that tho syndicate was in any way obligated to take the bonds of the Alton ce' fore September. 1899.
 Does any record of such obliga' ton exist anywbere?' he asked. Ths witness kEew of no such record bu' said he Was certain the syndicate members were bound to take th' bonds at 6. "You'll have to seel that information elsewhere" he sait to MT Kellogg.
 Mir. Kellogg continued the attael on the Issue and sale of the Altol bonds. but the witness declined to DC drawn very far. He said he was ab sent from the country during tho summer of 1899 and did not arrange any of the details.
 "The syndicate does not hold an' of that issue of 20,000,o00 of com mon stock of the Alton upon whicf no dividend has been paid. They unloaded 1t, didn't they?' asked MT Kellogg.
 You ask the Rock Island people about that; they can tell you, answered Mir. Hartman amid iaush