Bluefield evening leader. [volume] (Bluefield, W. Va.) 1906-1911, 1907-11-14
HARTMAN
CONTROVERSY
UP TO JUDGE


New York, Nov 13.---After seven
ana half hours OF argument on
both sides of the question. udge
Hough, in the United States circuit
court, announced tonight that he
would be ready to render decision
on the petition OF the interstate
commerce commission 10 compel r..
ii. Hartman 10 answer certain ques-
tions propoundcd to him last spring
In the course OF the commission d
investigation into the so-called Har-
rinan lines until Dec. 1. The OPP
posing counsel were given the priv
ilege OF films additional briefs dur
ing the next two weeks.
The arguments. which were not
concluded until $40 p. m. took n
wide range. and thr privileges and
powers OF the Interstate commerce
commission were thoroughly gone
into. Former Senator John G. Spoon
er of Wisconsin. appeared for the
first time in the case and argued in
defense of the position maintained
by Mr.. Harriman-that he Is not re-
quired TO tell the commission what
individual profit he made In selling
the stocks Of other railroads held by
him 30 the Union Pacific company or
10 detail the manner in which the
famous 1 per cent. Union Pacific div
idend was declared in August. 1906.
and It's announcement deferred for
two days. Mr.. Hartman has also
declined to say how much stock OF
the Union Pacific, If any. he bought
just prior 10 the announcement OF
the dividend.
John G.. Milburn was also heard in
defense Of Mr. Hartman and in op-
position 10 the petition filed by the
commission. On behalf OF the gov
erDment. represented by the inter-
state commerce commission. the ar
guments were conducted by United
States Attorney l.. Stimson and
Frank T.. Kellogg, special counsel
for the commission.
10 Judge Hough that the stock pur-
chages OF the Union Pacific Railroad,
amounting to s150.000.O00 during
one period. and about $182,00O.000
In the aggregate. were made on the
recommendation OF the executive
committee approved by the board Of
directors and ratified by the stock
holders. All that Mr.. Hartman had
wit hthe fullest approval of the
stockholders Of the Union Pacific
company lie further stated that
allowing for losses sustained In the
recent heavy slump Of prices the
Union Pacific company had profted
no less than 832.O00.0O0 by It's stock
purchases MIR Milburu said that this
fact should silence the claim OF the
commisslo nthat the stock purchases
tended 20 impair the effectiveness Of
The railroads engaged in interstate
business
Mr.. Kellogg In reply to this state
intnL tnat the EO-cdiicu udihtt Ndlue
OF the stocks sold TO the Union Pa
cinc was nothing more OF less than
a wall street quotation. probably
fixed by the very pool Of men whom
10 is claimed were behind the stock
deals As to the impairment Of the
usefulness OF the railroads. Mr. Kel.
logg asserted that the roads Of i'm
fated values we're today unable to
borrow money to build the cars need
ed by them to carry out their obliga-
tions 20 the public.
"Thc same thing is true Of the
roads without inflated values" re-
torted Mr. Milburn.
Senator Spooner declared that the
stock deals between Mr.. Hartman
and the Union Pacific we're matters
OF concern only between the indiv!d-
ual and the stockholders and hal
nothing to do with interstate com.
mcrco. 1r kellogg declares that