New-York tribune., 1909-09-10
EDWARD II. HARTMAN.

The death of Mr.. Hartman removes the most
important figure of the American financial
world, according TO the common estimate OF
recent years. There others who ranked with
him, perhaps, in power and influence bat they
are generally men older than he was whose
work was largely completed. Prime interest
attached TO Mr.. Hartman hecause he was Just
at the height of his career. He came into power
unusually late in life. At fifty he was little
known outside of Wall Street. and his ambi-
tons naturally remained unsatished at his
death. No ono regarded his great trnnsporta
tion system completed. and his recent sctiv-
tiles I'm Eastern railways Indicated that he was
as little content 10 have his property cut oft
from tho Atlantic seaboard as he was earlier
in his career 70 have it hanging in the air,
without an outlet 10 the Pacific. II was for the
reason that be regarded as still entertain
ing large ambitions capable of vast projects
and having at his command unsurpassed re-
sources that he WAS the most interesting and
important figure in the world of American
finance.
Mr.. HaTrimsn's command OF capital proceeded
from the recognition Of HIS extraordinary
genius for finance in railroad mana cement.
There are in this country many men Of great
wealth no longer in active life and others OF
inherited wealth who Were never in active life.
Mr.. Hartman enabled such men in association
with himself 10 invest their accommodations with
little effort so as 10 make money faster than
they otherwise could. The resources thus
brought under his control enabled him To do his
constructive work. And he was always sue
cessful in preserving n market for the distri-
button OF properties thus purchased. for he pos
sessed the confidence Of the investing public in
the same degree in which he possessed that of
the great capitalists associated with him. He
rrain pd
not only for himself and his immediate asso-
ciates but for his stockholders His Judgment
was almost infaIlible and his purpose was uni1
form. II is impossible 10 point 10 a railroad
which Mr.. Hartman wrecked in order to en-
rich himself and his associates or TO name
mergers or promotions Of his which turned out
to be mere air and water This diferentiatcs
him from not few Of tho most famous leaders
Of American finance Perhaps he was saga
cious enough 10 perceive that the confidence OF
the smaller investors valuable an asset
as was the confidence of the great capitalists
who enabled him 10 buy what later he sold To
the public. But. whatever his motive his work
was constructive. And in these days when It
is customary 10 condemn the manag cement of
railroads IN Wall Street, II is not 70 he for
gotten that Mr.. Harrimans Wall Street man
agement Of raroads-and his roads were IN
the Street 10 a greater degree than any others
paid the strictest attention 10 their physical
condition and 10 the performance of their func-
ton carriers.
| If Mr. Hartman had lived a generation earlier
and pursued the same methods he would have
been universally applauded But he lived in
a critical age. The attention of men has been
directed as never before TO the power Of wealth
and the use Of that power as it affects the pub
lie. Mr.. Hartman has therefore been severely
criticised for the way in which he obtained
control Of some of the resources which he en-
ployed in his vast projects and for the way in
which he used those resources, as for example
in his multiplication OF the Alton securities.
Laws already tend 10 restrict similar operations
and it is not probable that the public conscience
will ever again approve them.