The Birmingham age-herald., 1909-09-14
Texas Lawyer Is Chosen As Head of Executive Commit
 tee of Union Pacific
.LOREE WILL PROBABLY
 BECOME PRESIDENT
Wall Street Is Surprised Because ]. p. Morgan & Go. Are Left Out of the Directorate of the Har-
 riman Railway Lines.

''"'ah nahWdy Lines.
 New York, September 13-The contin- uance of the Hartman policies in the management of the Union Pacific. South ern Pacific and the chain of allied rail- roads was made certain today. tempora- rily. at least when Robert S. Iovett E; Il. Harriman's personal counsel and close friend, was elected to succeed Mir. Har- riinan as the head of the executive com mittee of the Union Pacific railroad To strengthen further the dominance of the
 Harrlman 1dea," Jacob II. Schiff and william Rockefeller both heavily inter ested In the Hartman enterprises, were elected in place of MT. Hartman and ina late H. H. Rogers, and also were ehose, to places on the executive committee
 The Union Pacific still remains vjtbout president. as MT Hartman occupied 'iis position also It is understood, how eVer' that an operating man, probably l.. r' Loree' president of the Delaware and Hudson. will be elected for the place at the annual meeting of stockholders to be held on October 12. Proxies for this meet- Ing already In the hands of Judge I.ovett and Alexander Millar, secretary of the Union Pacific, seem to guarantee that tba election will be dictated by the Hartman interests
 The office which Judge Lovett assumed today Is the most important in. the man. agement and financial supervision of tho union Pacific. Judge Lovetts close as sociation with MT. Hartman, particularly during the last week of the latters life make him, In the opinion of the Harri- man heutenants, peculiarly fitted to as- sume the responsibilities of the position. I.. Y. Loree the slated candidate for the presidency, shares the honor of a close familiarity with MT. Harriman's dreams Tor the undeveloped territory over which ne hoped to push the ascendancy of his railroad systems.
 Directors To Meet.
 The directors of the Southern Pacific will meet tom, w.
 It Is taken for granted that their action is fully forecasted by today's meeting and that Judge Lovett will be seated as chairman Of the executive committee also in MT. Harriman's place, with Jacob Fl. SchiH, or some other partner in the firm or Kuhn, Loeb & Co.,. at his right hand as director and member of the executive committee.
 Wall street manifested more than usual interest in today's election in view of the rumor which went the rounds last week to the effect that member of J. P. Morgan & Co.,, would be elected to the Union Pacific board. No such change developed and as 1t stands today the ex- ecutive committee remains, in the par lance Of the street. Kuhn. Loeb- Standard Oil'' board. For, besides Judge Lovett. Jacob H. schiff and William Rock efeller, the members are H. c. Prick of Pittsburg. Marvin Hughtt president of the Chica go and Northwestern and Frank A. vanderlip of the National City bank of New York.
 Surprising to Wall Street.
 The failure of the Morgan interests to gain a place on the reconstructed board was a surprise to Wall street. where last weeks rumors had been given general credence.
 It was pointed out tonight, however. that possibly the Morgan interests. fearing disastrous results from any radical changes at this time may have purposely postponed the selection of a representative until the regular annual election in October.
 Of the two new members named to- day. the election of Jacob H. Schiff attracted the widest comment in nnan- cfal ~drcles for the reason that the firm of Kuhn, Loeb & Co. formally withdrew few years ago from active participation in the management of all the railroads for which they acted as bankers. with the declaration that 1t was tn air policy as a banking house to assume this attitude.
 No statement could be obtained from Mir Schin as to the apparent change, but 1t was auth horitatively stated that the interests of Kuhn. Loeb & Co.,, and that of their powerful foreign connec- tions had become important in Union Pacific that it was believed un- wise for the firm to longer remain sloof from participation in the govern ment of the road.
 Judge lovett's Career.
 Judge Lovett. who, in view of his new offices, becomes for the moment one of the most prominent railroad men in the public eye. came to New York city in 1908. Born in Texas 4s years ago, he entered the railroad business while boy a $40 month freight clerk for the Houston, East and West Texas railroad. at Houston. While serving as freight clerk. he studied law at night and eventually became a country counsel for the rail- road, journeying from village to vii- lage. and devoting his talents princi- pally to the settlement of cattle claims cases. Later, the receivers of the road made him a district counsel and his success in straigh tening out the affairs of the bankrupt company won him pro motion to the position of general counsel. His next step was uenher- ship in frn. whioh reprc,entad the Southern Pacific. fife becam. so val uab blc to this system, undar Mir. liar rirnan. that he was made general ccun- sel with offices at Houston. Three years ago Hartman brought him te this oitT.