The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1907-02-28
'Harrinan's Career-A Study.

Mr. e. H. Hartman, who is just now
so much in the public eye, Is one of
the most Intelligent and progressive
railroad men that this country has pro-
duced. He has keen perceptions, he
has courage and indomitable energy,
and he is born captain Of indus
try. His father was n Long Island
clergyman, and young Hartman was
a leader before he was out of knee
pants. AT fourteen he went into a.
brokers office; at eighteen he had
partnership; at twenty-t two ho had a
membership in the Stock Exchanges; at
thlrty-siN he was director of the H.
linois Central, and owned little lroad
of his own on Lake Ontario; at forty
his Illinois Central stock was power
full enough to assist in making Stuyvc-
SAINT Fish president and himself vice
president. He then retired from the
brokerage business and devoted his
time and energy exclusively to rail.
reading. While Mr. Fish was abroad
he acted as president OF the Illinois
Central and took advantage OF his po-
sition to educate himself in his chosen
occupation. In 1898 he got Kuhn, Loeb
d Co. to back him in movement to,
get possession of the Union Pacific. Tho
syndicate paid the government s57,OOO,-
900 in cash and s2T000,oo0 to settle
with the holders of the first mortgage
bonds. In return they got 1900 miles
of poor, rundown, incompetentIy man.
aged railroad from Omaha to Ogden,
which was the beginning of the great
system of 1907. Hartman was then
fifty years of age, but still vigorous
man in body and mind. He saw n
vision, he had dream about the Union
Pacific. and While some OF his friends
thought that he was nothing but
dreamer, he soon showed and convinced
them that he was also a man OF ac-
ton. He made new map Of the Union
Pacific, which carried the line across.
instead of around, Great Sal. Lake,
thereby saving much in distance and
moro IN grades and curves. His OBJ
ject was to obtain a route over which
he could convey passengers and freight
at less cost per mile, and his plan was
carried out.
In six years he has put in more than
S2OO,OO0,O00 in improvements on tho
Union Pacific and Southern Pacific
lines, or $4,000 to the mile on the
system, over $4,000 miles long. Read
the Union Pacitic's report from 1898 to
1906, and you may march with the
mans coldly practical mind through the
record of his campaign. There is no
waste of words. lie simply reports
what he has done. Victory is the ex-
cuse for his autocracy of business, as It
has been for the autocracy OF generals
on many occasions. With each years
record income per cent. increases and
operating per cent. is curtailed. Tho
Union Paciiic of 1907 trcbled In milo.
age, has gross earnings of SG7,45O,OO0
and net earnings OF S42,35O.O00 and
capitalization OF si9G,o 900, against
gross earnings of $14,3SO,OO net earn
ings of S4,7l0,000 and Capitalization or
PNpS'NVoIVON ~ loVo, Nel earnings null
tiplied by ton and capital by less than
three!
This brief outline OF Harrlmans ca
recr Is taken from an article in Col
licr's Weekly by Frederick Palmer. 1t
shows that Mr.. Hartman started out
with the right view, with the purpose
of making a railroad whose business
1t should be to haul Passengers ana
freight at tho lowest possible cost, and
TO develop a profitable tra1nc. If Mr.
Hartman had contented himself with
TINS he would occupy an enviable no.
| sluon to-day in the business world
i3ut after he had carried out his plans.
when We're altogether commemorate.
instead of being content to operate me
system OF roads which he had built
sp. he turned his attention to stock
jobbins.
The rest is well &nown. He has
made millions for hinse,f MT M ~.