The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1907-11-15

New York. November 13.-After
seven hours and a half of argument
en- both sides Of the question, Judge
Hough, in the United States circuit
court announced tonight that he
would not be ready to render a de-
cision on the petition of the inter-
state commerce commission to COM
pei II. FL. Hartman to answer certain
questions propounded tr him last
spring in the course of the COM
missions investigation into the so"
called Hartman lines, until December
list.
The arguments which which were
aot concluded until Gao p. M, took
a wide range and the privileges and
poWess of the interstate commerce
commission were thoroughly gone in
to. Former Senator John G. Spooner,
Wisconsin, appeared for the first time
in the case and argued in defense of
the position maintained by Mr.. Harri-
man--that he is not required to tell
the commission what individual profit
he made in selling the stocks of
Other railroads held by him to the
UE& Pacific company or to detail
theJhanner in which the famous 10
per cent. Union Pacific dividend was
dcciarc& in August, 1905, and its an
nouncAre Arent deferred for two days.
Mr. Hartman has also declined to say
how much stock OF the Union Paci-
fic if any, he bought just prior to
the announcement OF the dividend.
JnO. q. Milburn was also heard in
opposition to the petition filed by the
commission. On behalf OF The coy
ernment reA resented by1 the Inter-
state commerce cOmmts*."L, the ar
guments were COndu"-ei by United
States Attorneys L. Stimson alld
Frank 3. Kellogg, special counsel Tor
the commission.
Counsel for Mr. Hartman stated
to Judge Eough that the stock pur-
chases Of the Union Pacific railroad
amounting to 50,000,000 during
one period and about S1S2, 100000 In
the aggregate were made on the rec
ommendaton of the executive com
rnittee, approved by the board OF dl-
rectors and ratified by the stock
holders. All that Mr.. Hartman had
done. Mr. Riilburn declared, had met
win the }lest approval of the stock
h6Irs q the Union Pacific com
ps ! He further stated that allow
ing for losses sustained in the re-
cent heavy slump of prices the Un1or
Pacific company had protited no less
than S32,0O0,000 by its stock pur-
chases Mr.. Milburn said this fac'
should silence the claim of the com
mission that the stock purchases teno'
ed to impair the effectiveness of the
railroads engaged in Interstate busl
mess.
Mr.. kellogg, in reply to this, stated
that the so-called market value OF th'
stocks sold to the Union Paclhc wa
notbing more or less than wal
street quotation, probaolv i,Aeo oS 80
very pool of men whom 1t Is cldA!i
ed were behind the stock deals. A
to the impairment. of the usefulnes
of the railroads, Mr.. Kellogg assert
ed that the roads of inflated value
were today unable to borrow none
to build the cars needed by tneI
to carry out their obligations 10 I'll
public. e +1
."The same thing - true OF tn
ro,ds without inflated values, re
torted Mr.. Milburn. -
Senator Spooner declared that III
stock deals between Mr Aar Aarrlnla
and the Union Pacific were matter
&c concern only between the liiu
hal anci the stockholders ana ia
nothink to do with lnterst$Lte -.
merce. Mr. Kellogg deciare1 u
commission had a right to lnqull
;n+o the uses to which the mono.
of railroad were put. 49,. -
Judge Hough interrupted the d
+orneye on both sides with mar
pointed questions. He asked, II, a..
all tAs commission was ohls 80,
Oy tha Unanswered QuS9tlo
from Ehom Hartman, the indivldu
purchased the stock subsequently 50
to the company OF Whlcn is,ix;d"sl ne - pel
dent and what profit he lnolNlu"a'
made by the transacuon'
Mr. Kellogg said the conmissl'
sought m to get at the bona fide FAC
of the stock deals. In general
declared, the commission was hahi
an INQUIRY which involved the que
ton of whether or not the sreat w.
tern territory of the United o.a
i+s Observation-Disclosures OF
there shall be railroad competlti
between the Missouri river ana
co,,<o Pacific coast.