Arizona republican., 1907-07-15
THE HARTMAN INQUIRY
REPORT.

The report of the Interstate Com
merce Commission on the hartman
inquiry. or at any rate so much OF II
as was given to the news agencies on
SATURDAY night. added little to what
was already known or surmlsed or the
commissions findings. interviews
from time TO time, had been given out
by Mr.. Loeb, Commissioner Lane and
others who from their positions
were supposed TO know what they
were talking about. The findings had
already been anticipated in the STOCK
market. without any serious effect up
on the properties involved in the in
ouiry. except such effect as manipu-
lators now and then sought to give
the forthcoming report for speculative
purposes.
1t is doubtful if Union Pacific stock
or the stock of any of the other Harri-
man lines has in the general sum-
ming up been affected at all since the
conclusion of the inquiry
How far all the findings are oased
on actual discoveries by the commits
sion remains yet to be proven. Mr..
Hartman says that many OF the state
ments are incorrect and some actual
" ridiculous, notably the allegation
that crooked bookkeeping had been re-
sorted TO, to cover up the payment OF
a special dividend. Mr.. Hartman
points out that the dividend was paid
to the stockholders, the only persons
directly interested in the transaction;
the dividend was reported in every
financial journal at the time and II
was further regularly reported on the
stock exchange. Why then, he peril
nently asks. should an attempt have
been made by the Union Pacific man
agement to conceal II?
Mr. Harriman's promise to have
something to say regarding the report
is an interesting one. If any state
ment he may make should result in
Kidding the report, even in its weakest
parts. he would have succeeded largely
in vitiating 1t and destroying the uli-
mate and intended effect of it.
There is perhaps nothing that Har-
riman has to fear Immediately from
the report He is probably Indifferent
to the suggestion that it will be decid-
ed after consideration by the attorney
general, whether he shall be subjected
to civil or criminal proceedings. He
has been so long and so frequently
threatened with both in connection
with this affair, that he feels pretty
sure that the government dare not or
will not undertake either.
What he may most apprehend is,
whether congress will enact any Of the
legislation recommended by the COM
mission to prevent the repetition OF
such operations as the report alleges
have been discovered and to prevent
the extension Of the power Of a single
man over the transportation business
OF the country. If congress should be-
lieve that such a state exists as the
commission says II has found, 1t might
enact the asked-for legislation. If
however, IL should be shown that the
commission has unearthed anywhere
in its inquiry a mares nest, it would
probably do nothing. 1t therefore de-
wolves upon Mr.. Hartman TO add a
chapter to the report of the commits
sion
1t may be observed also that the
commission however profitably its
time has been employed, was not en-
gagged in discharging the functions for
which it is popularity believed to have
been created and last year endowed
with greater power-the relief of those
who complain about transportation
rates and service.