The Morris County chronicle., 1908-09-22


: rand boy in a Wall Street brok- !
! er's office.
At eighteen he was clerk,
with a share in the profits.
At twenty-five he bought a
seat on the New York Stock Ex-
Schange with money he made in !
speculating with his savings. !.
! At forty he became vice-presi- :
dent of the Illinois Central.
At fifty he undertook the reor- :
ganization of the Union Pacific.
!; AT sixty he realizes his dream :
of an ocean to ocean railroad &
system underhis absolute control
e-~%-e~~~%@%@~@-~@. %%@-@+@4-@->-%
Recent events make it pretty clear
that e. H. Hartman has at last
achieved his ambition. He is the
first man in the United States to con-
troll an ocean to ocean railroad. For
years he has looked forward to run
ming sleeping cars and complete
trains from New York to San Fran
cisco over his own lines. Now, at
sixty, he is putting the finishing
NOuNhOo w iil0 COIO0oul 4uoh-
In ten years Hartman has created
an epoch in railroad history. At
fifty he had practically retired from
the Wall Street brokerage business,
which had brought him compara-
lively small fortune When his op-
portunity came to reorganize the
Union Pacific Railroad in 1898 he
was already ten years past the age
set by DR.. Osler as the termination of
mans usefulness.
He is the most striking personality
Wall Street has known since the days
of Jay Gould. Like Gould he is not
popular there. No great railroad
man has cost Wall Street so much
money as Hartman, and none has
ever done so much for his stockhold-
ers.
Harrimans latest great victory
marks the dimming of the Gould
railroad system.
Gould Did Not Take Opportunity.
Harrimans skill at finance is
shown in his latest exploit. George
Gould. who had an opportunity at
one time to get the Erie road for an
Eastern connection for his Western
roads for about s20,0O0,0OO, refused
to take it, Gould afterward expend-
ed $60,000,000 in the Pittsburg dis
trict and Western Maryland Harri-
man got virtual control by providing
loan of $S,000.0O0. Part of the
agreement is that the Baltimore and
Ohio Railroad, Hartman line, shall
share the $3,000,000 depot at Pitts
burg built for the Wabash by Gould
This moYe saves the Hartman inter
ests off1hand about $4,000, 900, as
arrangements had been made for
Pittsburg terminal for the Baltimore
and Ohio to cost that amount.
Since consummating this deal Mr.
Hartman has denied that he is in
absolute control of the Gould sys-
TEN. However, despite his modest
disclaimer, his influence will inevit-
ably be so great as to amount prac-
tically to control.
The first step taken by Hartman
In his new relation to the Gould
roads was characteristic An order
is understood to. have been placed for
$10,000,000 worth of new freight
cars of pressed steel, of the most up
to-date type, to handle the tonnage
that is expected this fall. Hartman,
who started for the West Immediate
ly after the financial arrangements
were made, may make tour of in
spection over the Gould lines before
his return
Harriman's influence in the Gould
lines makes him the undisputed mas
ter of nearly $4,000 miles of railway,
with capitalization of $1,544,574,-
700, and outstanding bonds aggre-
eating in round numbers $4,000
100000.
And after his stupendous victory,
she elimination of ten years of the
hardest fighting known to the world S
financial history, Hartman said:
didn't do these things to make
money, but merely to help out the
iituation, AS l grow older am be-
ginning to think more of my fellow
man. | want to see this country the
greatest on earth. intend to help
make it such"
Financier Was Born to Poverty.
The man who at sixty could speak
In this calm way of his achievements
was born to poverty He was one of
the six children Of the Rev. Orlando
Hartman. When e. H. Hartman
was eleven years of age, in 1859, his
father acted as rector of st. Johns
Church, in West Hoboken, at a salary
pf $500 a year, or less than 81 a
week For seven years the Hartman
family remained in West Hoboken on
this salary and at the end of that
time the church owed the rector
$374 for arrears of salary. He set
tied with the church for $3.50, "pay-
able in six months"
Young Harriman's only schooling,
aside from the district school, was
two years spent at church school, |
The poverty of his family compelled
him to go to work in his early teens
He was first a messenger boy in
Wall Street Office He studied the |
Wall Street game to such purpose
that in 1870 Whon ho was fwoutv