Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1907-02-27
Declares All Transactions
Will Bear Closest
Scrutiny.
KUHN PUT ON STAND
Gives Commerce Commission
Further Light on Big
Deals.

New York Feb 27.-Stuyvesant Fish
was asked by the Associated Press to-
day what answer, if any. he cared to
make to the accusations which E. II.
Hartman preferred yesterday before
the interstate commerce commission.
Avoids Il WrancIe.
Il have little to say replied he. Il
shall not be drawn into wrangle with
that gentleman. He and | sustained
close relations for many years and
were jointly interested in many large
affairs All those transactions. indeed
all transactions in which | was ever
engaged. will bear the closest scru-
tiny
Examination Brief.
New York. Feb. 21-In the investi-
CATION of the Union Pacific railway by
the interstate commerce commission,
Edward II. Hartman was again Wit
ness today, but only for short time.
Hartman testified the Union Pacific
Iisland since last year for S2.022 .000.
Witness had owned the property and
| sold it TO the Union Pacific. He de-
clined to state when he bought the
stock of the ST. Joe & Grand Island,
and what he paid for it. Witness said
The ST Joe & Grand Island is not a
parallel and competing line.
Bought in Open Market.
| Hartman said New York Central
! stocks acquired by the Union Pacific
Iwere bought in open markets, but re-
fused 10 say whether he or any of his
associates were interested in the sale
a. the time the Union Pacific pur
Ichased.
| Admits Figures Mere Correct.
| Kellogg asked the witness if ii was
not fact that OF the s22 100000 said
to have been spent on the Alton, S74o.
600 was made up of car trust certiti
cates. 81 600 600 was d loan from Kuhn
Loeb < Co. so the expenditure on the
\ line out of The new securities sou
were only about SlS.000,00
Hartman said possibly the figures
were correct. Witness was then eX-
cused and Otto Kuhn of Kuhn Loeb &
Co took the stand
Denies an Understanding.
Kuhn said his firm had purchased
Southern Pacific stock the control of
which afJerward passed TO the Union
Pacific, but he insisted that it was not
bought with the understanding the
Union Pacific would take it. the only
understanding being that it was to he
offered TO the Union Pacific. Harri-
man. he thought, was in favor of pur-
: chasing but his firm took a big risk
in buying Southern Pacific stock, as
the remainder of the board might not
approve of its purchase and it would
be left on their hands.
, Day Notable One.
New York. FEB. 21-Yesterday' :
session of the 4 interstate commerce
commission. with f. II. Hartman an
the stand. telling about his vast rail
road and Wall street deals. made no
table contribution TO the high financial
history of the United States. THROWING
light on many dark places The chic
Z developments of the day were:
l. Continued refusal of the witness
to answer questions relating to infi
vidual stock transactions
! =. Explanations of the transfer 81
, 100000 shares of Southern Pacific
. stock to William G. Rockefeller durin-
the attempt of James r. Keene TO Sc
cure control of the road and of the de
llayed announcement of the dividends
/ in Union and Southern Pacific
Unfair Rates Charged.
;. Attempts by the government =
show that the Union Pacific charge
unfair rates. stiles competition in tn
. vast territory traversed by its line.
and that its dividend of 10 per cen
and its expenditure of s240,OgO000 20
betterments came from an unfair to
on its patrons
+. An academic discussion of raj
is way legislation. by high authorities o
IS either side that ran from a plea fC
IN legaliZed combination of railroads III
5 der government supervision to a SUI
u gestion that the government contr,
or railway stock issues
III Admits Cause of Reform.
o 3. \ charge and an admission tn:
~ the misconduct of the railroads crea
;" ed the popular anger that moves d
n terminedly for their regulation.
ne 6. A charge that no other countl