Arizona republican., 1908-04-03
HARTMAN IS SIXTY
 BUT WONT QUIT VII
Still Too Many Moves Left to Fulfill Last Years Declaration

Edward H Hartman at 50 is much too busy to think about retiring from the railroad business. On his last birth day a year ago next Tuesday. he thought that another twelvemonth would find him ready to quit the game but yesterday he told Times report CT that there are still too many moves to be made. He doesn't propose to stop even to consider retiring until the complications on the industrial chessboard have been resolved suffic- iently to enable him to see clearly q little distance ahead. Until then Mir. Hartman thinks he owes it to the 40,- OOO stockholders and 10000 employees in his system to stay lon the job
 This definition of his position Mir. Hartman made in the course of his af- ternOon constitutional along Fifth Avenue yesterday. The reporter met him coming out of his house, and ask ed how things looked from Mir Harri- mans view point of 60 years. lacking only a couple of days. It was the railroad man who spoke of the chess board
 "I wouldn't undertake to say" said
 
 would undertake now to predict what is going to happen or to make q com prehensive statement of present condi- tions. There are too many moves yet to be made before any degree of sta bility is reached to make such a sur vey possible"
 "Who is going to make them?"
 You know as well as l do." return ed Mir. Hartman sharply. The peo- pie of this country have got to be brought to a proper appreciation of the inter-relation between the various factors in industry Then they must see to it that the administration of law is conducted in their interest and not as a matter of personal caprice"
 And you are going to stay in the game until this comes about. Mir. Har- riman?" the reporter asked.
 Too Busy to Retire.
 ''I don't want to say how long I shall stay in harness. A year ago. when the Interstate Commerce Commission was at work, I said something about retiring in another year. Well, it isn't a case of changing my mind. but of not having had time to think about re- tirement. l looked then for some fall ing off in business, but for nothing , like what has occurred. I didn't ex- pect to see 90 per cent of the decrease that has been realized. Under such conditions there is nothing to do but . to stick until matters get into com petent hands, at least, and until con- fidence has been restored.
 Just now We are hearing about the wages problem. But do people appre- ciate that, with a given opportunity for the development of business. the more we have to pay for capital, the less there is to pay for wages? I am not referring to the scale of wages but to the amount that we can spend for wages. And in order to get capital on reasonable terms we have got to have good credit, and credit must be maintained by surplus earnings There is the whole thing in a nutshell.
 "A wrong idea prevails in a good many quarters about this relationship of capital and labor. We men who manage the roads are not the capital ists The security holders from whom we borrow the money are the capital ists, and they are in partnership with the wage earners in trying to make a fair profit out of serving the public. It is our duty as managers of the roads to preserve the proper rela- tions between the different factors so far as we can. But what becomes of our efforts when unwise governmental interference, resulting in such a con- dition of distrust as prevails at pres ent. jumbles up all the factors in one conglomeration?
 Be careful, now, not to confuse the terms. By surplus earnings, l do not mean the payment of dividends, but the ability tO earn something beyond what is required to meet bare charges and expenses. So in speaking of the partnership between the wage earners and the stockholders. I do not limit myself to the relations that exist or that may exist between the corporate