The Washington herald., 1907-08-24
ALTON In new HANDS
Control of Road Passes to
Glover Leaf" System.
HOSTILE TO E. H. HARTMAN
Majority Interest. Owned by Rock
Island. Transferred to Toledo, st.
nOuncement of Transaction Causes
Surprise I'm Financial Districts.

New York. Aug. 2-Controi Of the Chi
cago and Alton. which the Rock Island
party wrested from r. II. Hartman and
his associates last June after q contest
which began three years ago. has to all
lntents and purposes been transferred TO
the Toledo. St. Louis and Western.
The stock which will change hands on
the formal ratification OF the contract is
the majority interest owned by the Rock
Island company. Neither Mr. Hartman
nor any Of his associates was consulted in
regard to the transaction. and the formal
announcement Of IL to-day was as much
of surprise to them as to any one else
in the financial district
What Mr.. Hartman will do with the
Union Pacifc's minority interest seemed
to interest no representative Of either
the buying or selling company.
The men in control Of the Toledo. St.
Louis and Western. better known as the
Glover Leaf are as hostile to Mr.. Har-
rinan as any Of the Rock Island party
have shown themselves Edwin Hawley
one OF the most prominent Of them, fen
out with Mr. Hartman when the Rock
Island party showed its hand in the Alton
in 1904 Mr. Hewley has since resigned
/ from the Union Pacific board
Glover Leaf COterie.
Associated with Mr.. Hawley in the
Glover Leaf" are Gen. Thomas H. Hub
bard. a former Southern Pacific director,
who is suing that Hartman line TO com
plete payment Of interest on a bond issue;
! II. Z. Huntington. interested as a plain
tin in the same suit; James y. Wallace,
| president Of the Central Trust Company;
/ Charles A. Tweed. until lately a member
Of Speyer & Co. William A Read Of
the banking house of William A. Read &
Co, and Theodore P. Shonts president
Of the Interchangeable
/ MI. Shonts is president Of the company.
/ but has not been in charge Of operation
since he took control OF Interborough-
Metropolitan.
/ The prospective purchasers also control
/ the Minneapolis and st. Louis, which
owns a majority OF the stock Of the Iowa
/ Central On the ratification Of the Alton
! transaction they will be in control OF q
system with a mileage Of 2,SS5, and trav-
/ ersing one OF the best traffic sections
/ in the country. The transaction thus
brings about one of the most important
| changes % the railroad map that has
| been made for many months.
Eventually the four roads will be
merged into one compact system. Mean
while the management of the four roads
will be made among them. Glover Leaf
officers viii succeed Rock Island officers
in the Alton.
President FELTON, to Retire.
Probably President S. NJ. FELTON,. of the
Alton, who has been retained in Office
during both Rock Island and Union Pa
cifc control Of the road. viii retire.
we have had TO relations with Mr..
Felton," said a director of the Clover
Leaf yesterday. ''On the other hand. our
relations are very Intimate with and we
have every confidence in Mr.. Shonts, the
president. and Mr.. Roos. the vice presi-
dent, in charge Of operations. In al prob
ability one of these men will take Mr.,
Felton's place"
The most important contingency on
which ratification Of tho contract rests is
the decision OF the government in the Al
ton Immunity matter. The Clover Leaf
people do not care to buy into law suit
especially when the law suit offers q
CHARGE of fine equal TO the Sc. $4,000 i'm
posed on the Standard Oil Company foi
taking rebates from the Alton. II has
been expected that decision on this
matter would be reached by Judge lands
and the Department of Justice before
this, but it IS generally believed that the
outcome viii be favorable.
Alton officials insist that there is NJ
question that immunity was promised
and that they kept faith.
AS a formality. also Clover Leaf Off
cials are tC inspect the physical condition
of the Alton and go over the books. Thi
inspection viii be made within two weeks
and. in case a favorable decision on TN,
immunity matter is rendered by that time
the final papers will be signed early II
September.