Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1907-01-11
Magnificent PIunser.

= NpER the above appropriate caption the San Francisco Call has an
interesting article tracing tho rocketIke rise Of Mr. y. I. Harf-
man, Who without any on'lderaole capital except cheek mas
~ VI IN q few years. from obcurhS : a position which enable"
him 10 besuadc the railway world IKE a colossus The can sayq Hartman
rot his start OF n sensational and magnificent career OF speculation by
The reorganization Of the Union Pacific, Of which he got control in 1898.
tna, rarranlz,uon curried through In q period Of severe financial stress
was effected BY . radical scaling OF debt that loft the property in favorable
condition to take advantage Of the mcxampled prosperity which very
shortly anervard set in all over the country. Hartman "a able to borrow
sioo 600 ooo o. the security Of a highly prosperous railroad. with that
stake he began his career Of speculation He bought control of the South
cn Pacific from The speyers he bought Northern Pacific stoek until he
had a majority Of the shares. and was only prevented from securing control
Of the road by a sharp stock-iobbmg device Invented by the reourceful
ttuponi Morgan and lanes } HA ~ the same ms owing TO te
aboundmg prosperity Of The country, farrtman's deal in Northern Pacific
proved enormously profitable !" act everything mat H"''"'" u''
rnat loan Of sioooOoooO n Union Pacific bonds was Of curse, only
neS@ ra o. 81 "1 or m" ~ t Nes "rniasos are no, Known hut IN an orob-
abniy they are equal 10 slooOoo.ooo more BESIDES these sun Hartman
ums n important factor in the big life Insurance companies OF New York
M VAS deem in te manipulation Of their funds He Is he astonishing
pluneer the world has eve known. and the ten years OF uneSnmped pros
peruy have carried all his spcculaious to success
Apart from Harrmons career IS a spocuiator the inquiry of the Inter-
state commerce commission Is chiefly concerned with hts operations in re-
arant Of competition contrary TO the provisions Of the sherman law against
between the southern Padoc and the san Pedro Los Angeles and salt
Lake road. built by senator Clark, s produced The effect of this agree
mcnt Is disputed and J Ross CLARK vee president OF the Sn Pedro Los
Angeles and salt Lake denies that his company bound Itself to make the
same rates is the Southern Pacific 1t Is not very clear OF what basis Mr.
CLARK mikes this denial because the agreement specifically binds the CLARK
road to put In focc at All points upon It's leased owned or operated RAN
ciasancauons aud eharscs used by The southern Pacific company for the
handling OF ay iocel business which may be the subject o Z compeluo"
This as,unco, n Of course. nude IA restraint of competition. eu,
a. 4. carefully drawn 80 as to take IL out IF the jurisdiction OF the Interstate
commerce commission and the federal department If justice. In a word,
the contract covers only tate business and leaves the interstate com
nerce open.
The vulnerable point Of the Hartman merger VIII be shown on demon
strauon thai the Union-cenral PacHe ana the Sunset routes Of he southern
Pacific which should be competing lines. are run 10y one management
a DISPATCH from Berlin says that military hen ia Germany express
the opinion that the science Of war has been 10 well developed that Germans
30 moi think d worth their while 10 try 20 earn anything from the soldiers
OF the Mlkado. Estimates OF military mn are entitled to respectful cone
liberation. but history Is so fun OF Instances of the successful achievements
of ds-pnsd nations when they POI IN contact with countries in which
raining ana strategy have becn developed 10 The highest degree tat the
n,ntsu may well hesitate 90 accept the conclusions of such eSperi' az NAL
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