The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1907-01-14

10 feinNest an or "a part % the $4,000. 90
collected in dividends OF ON coupons Jan
uaft lst The speculative Indifference
OF the outsider. unceremonlouslv called
''tnc lamb continues. The Turing ict-
ttrs Of the commission houses fail fo
draw. but all this would NOT chill wall
street bot for those ugly lnveetignt. ions
~ corporations which 81 calls c0~roratire
batting These investigstions larz over
tne market Ike threatening clouds. ua-
Dole 10 burst down in torrents every min
Dte, ana 20 play havoc with prices
Chilling Revelations in High
Finance.
WHAT the Interstate Commerce Com
miss on & Investigation Of tao Hartman
lines. the Union Pacific. the southern pa
cihc and the oregon Short Line the late
ter the holding company Of the securities
through which Mr.. Hartman controls
the greatest railroad combination 90 me
country. so far has revealed does NOT
form any cheering reading FOR spccula-
tors or investors When 10 ar,e OH.
t1at Hartman has acquired over one
hundred million dollars new railroad
stock since July I. 1916. among which
were the stocks Of the Baltimore and
ohio. the Illinois Central the g. paul
etc. Wall street was inclined 90 talk, q
roseate view q this. as IL revealed great
assets Of the Union Pacific. ANA actually
put this railroads stock I'D. b1t the
second sober thought led 10 less cheorfrll
conclusions. AS Il was remen bered thar
AZ the very time, when those enormous
stick acquisitions were made. "the lead
ing interest warned the market against
becoming too confident. and the expiana-
ton ~ this rs that tho WARNING was inc
tended 20 depress stocks so tnat Har~i-
man and his followers could huy them a-
low prices. II also begun o. dawn on
the public which follows the ups and
fHa.
Pacific had become an enormous pool
whcih could. II IL wanted place The
market at It's mercy any moment And
this Year was only augmented hv the
revelation now one Gay. when AR Keene's
southern Pacific pool had psst Up the
price of The stock u %. and demanded
a dividend. Hartman sold" 10 William
Rockefeller 10000 shares Of the Southern
Pacific which. il is claimed were thrown
ON the market 20 break the Keene pool
(Which was actually doue) and after
this transaction had done its deadly work
I bought the stock back at the same price
II was sold. T. was put-up Job. saws
wall street. and 81 does not Ike such
tricks. Official statements Of the Ha~~t-
man roads did nor contain the slightest
hlnt that 30.eoo shares of the Southern
Facihc We're sold. ana manv feel fu-ti-
fed in asking. What reliance. ta.u can
ne had on tho C0rrer tneSs and rrt.tnff-f-
ness ~ railroad reports as long as trans
actions like tho one described above are
obscured?
Dislike Of the "One-Man Power"
] Another revelation. the power given
by tho board Of directors 20 Mt. FTarri-
man 30 do what be p.eases. to hriv and
+ sell securities. 20 create debts. etc. with
4 out consulting the brother directors can
/ also be considered an action inconsistent
] with the idea that directors are trlis-
tees. and ought not 70 delegate tnaf-
rover and responsibilities 10 one man.
/ W nlle IL Is undoubtedly q great testiruo-
I MAJ 10 the power NJ. Hartman exercises
over his fellow-dlrectOr all men Of mill
/ Hons and enormous business interests
who would hardly think 10 abdicate tbat-
rights TO any one eise-vet tho world
/ looks unon the Gone man power as con-
uary ana repugnant 20 all correct ideas
/ OF cooperative manac ment On The Wit
neSs-sland in this investigation. one by
/ one, alF the powerful foes OF NJ TTs-,t
man make their appearance and This
| makes Wall Street fearful Of the 6o,-
| when Hartman, ri present looked rron
I rs the financial Titan OF this continent
| should begin 10 settle his grievances v-ith
/ the foes, for ny Hartman is n good
mater and fighter. and has so far a1u,a,s
peeh arlc 10 get even with his adverse
| res. The strongest claim that the TTar-
rihlah railroad systsn is n combination
/ lot restraint OF trade. has 80 far h.,
put forward by Mr. JeTries 4be ,,ct
az NJ or the Western Pacific the navr T..
I CHIC coast line built by the G0uids ana
| Hardly had few DAYS elanso,l ,rro, +h
| Acknowledgement OF Missouri sfartaa ,
4 sur 10 dissolve the alleged merger rr th,
! -n.SSouIl faciilr Wabash and Iron NTo,,r
| IAN railway Companies upon the clain,
'nat the stocks OF the companies named
] are owned by tho same intereste the
/ Gouids. IN violation of the Cons,ff,,t,,,
! ana laws of Missouri which forbid c,r-
/ ersmp OF parallel Dip by one mart,
| mere are people who claim to sec Hart
man retaliating hand back OF This Mis-
souri, affair.
| II all such revelations were hrouyb+
/ out at the beginning Of the Federal in
| Nestsauon OF the Hartman lines. what
\ 50 asks Wall Street. can be oxpecfed
/ wnen Hartman and his intimate assoc
| ciates VIII 60 on the witness stand
/ When the investigation began. Mr. por-
riman was to bc the first witness hue
/ happened 70 be sick. His sickness came
| II Is claimed at an opportune time for
u enabled him To End out first on yvhat
lines the investigation would proceed.
A Bitter Feeling Against the Ad-
ministration.
Wall Street does not ike Investigations
for ii creates uncertainty and trouble ana
interferes with its business. 1t has also
found that so far all Investigations have
| brought unpleasant things to light. that
hurt the market" But with the Har-
riman investigation the fear OF Wall
] NnnA MI