Albuquerque citizen. [volume] (Albuquerque, N.M.) 1907-1909, 1908-07-31
HARTMAN TO CONTROL
$4,000 MILES OF
RAILROAD
He Dictates Policies OF Gould
Roads in Addition to
those OF His own
Properties
RIVAL INTERESTS
REACH AGREEMENT
Gould VIII Benefit TO Extent of
Being Able 10 Finance his In
tereSts While Hartman VIII
Have Charge OF Greatest
system Ia the World

New York, July 31.-By the treaty
OF peace between Z. IL. Hartman ana
George j. Gould. which Wall street
heard was approved by both men, Mr..
Hartman becomes the master OF
about $4,000 miles of railroad. His
Union Pacific system has about $1,000
miles of track, the Erie has about a.
500 and the Missouri Pacific nearly
10000 miles. Mr.. Gould will remain
as president of the companies as
heretofore, but 1t is understood that
Hartman will dictate the policies.
This movement will rehabiiitate the
credit of the Gould companies, which
has been so bad recently that three
of them have gone into receiverships.
1t will enable the Gould roads to
raise money for Improvements that
are much needed. 1t will give Har-
riman joint use with the Missouri Pa
cific of the Western Pacific railroad.
which Gould has just finished build
ing. 1t will give the Erie railroad a
half interest either by direct owner
ship or trackage rights. over the
Wheeling & Lake Erie and the Wa
bash Pittsburg terminal This will let
the Erie into Pittsburg and wsn also
raine steel works. from which a
heavy tonnage Is expected.
1t is understood that Mr.. Harrss6an
has decided to abandon plans for the
Hartman holding company. which
was planned nearly two years ago to
take over the investments of the
Union Pacific. One rumor in the
street goes so far as to say that the
N An
rerred stock to pay for actual control
OF the Erie and enough Wabash stock
to make the Union Pacific secure for
eyer iE its transcQhtinental trackaga
rights. Directors Of the Union Pacific
already have authorized 100 million
dollars OF preferred stock which Hay-%
riman may use at his discretion.
There have been rumors recently of
rights to be distributed on Union Pa
cific stock and up to a few days ago
1t was supposed in the street that
these rights were in connection with
the holding company.
Kuhn, Loco a. Co. are said to be
the bankers through whom the flnan-
cal arrangements will be made. Blair
q Co. will participate in the financing.
Neither of the bankers would admit
officially today that anything would
be announced this week. Eight MIL
lion collars of Wheeling x Lake Erie
notes lndorsed by the Wabash will
fall due Saturday. 1t is understood
that Kuhn, Loeb & Co. will take care
of these notes in behalf OF Hartman
and the Erie.
Hartman and Gould are working
together now for the first time since
their bitter quarrel over the Colorado
Fuel Iron company control six
years ago. Previous to that each had
peen a director In the companies con-
trolled by the other. Their enmity
was displayed in public and mutual
designations followed. Gould was left
In control of the iron company and
1t has cost him millions. Oniy through
the friendship of John ID. Rockefeller
has he been able 20 keep it out of the
hands of a receiver. 1t is believed
by Harriman's friends that Hartman
also has captured control OF that
company. although there is no public
evidence of the fact. II Hartman
has captured It ii. c. Frick probably
Il interested in the deal.