Bismarck daily tribune. [volume] (Bismarck, Dakota [N.D.]) 1881-1916, 1909-09-21
OF HARTMAN R. | !.
Railroad Magnate Ordered to
Take a Complete Rest.
BEGAN AS AN ERRAND BOY.

Union Pacific railroad. have at last
Slapped his energies. and. as Professor
Struempel, the famous Viennese spe-
cialist, puts it. he must have complete
rest or become an invalid. In review
ing the career Of the man whom some
have called IAN empire builder it will
be. necessary to delve into every big
railroad deal that has been consum-
mated within the last two decades.
Somewhere in them will be found the
imprint of Harriman's master hand.
In some it will stand forth boldly; in
others only a subtle trace is discernible
by the eye Of the person uninitfated in
the intricacies Of high finance of the
present day. when billions are at stake.
Wall street has been awaiting breath
!essly the return Of e. 81. Hartman.
for many expected that with his CON-
ing announcement would be made that
the Vanderbilt interests, in the New
York Central would pass into his keep
ing. This, If accomplished. will be the
GROWING point Of his career.
Edward Henry Hartman was born
in the rectory of the Episcopal church
at Hampstead, N. Y, on Feb. Is, 1848.
His father, the Rev. Orlando Harri-
man. Jr.. was the rector Of the church
at the munifcent salary of $500 year
"a little less than 81 week on which
to raise family Of six growing and
endowed today. and the memorials
there were erected at the expense of
Edward 81. Hartman and his brother.
Knew Poverty In Youth.
1t was sore struggle for existence
with the country parson, and his wife
and children knew the pangs Of pov-
erty in all its phases. When Edward
was six years old Parson Hartman
moved to Jersey City, and with him
went his wife, four boys-Nelson, Or:
lando, Henry or Edward (he was al
ways called Henry by the immediate
members of his family and William
and the two girls. Lily and Annie. Up
to the year 1859 the Rev. Mr.. Harri-
man had had hard row to hoe, but
be then procured good charge in
New Jersey, which he held for several
years. and the burdens of the mother,
who had found life struggle at best.
were considerably hghtened.
The boys attended church schools for
about two years, and when the old
rector showed signs of failing health
the boys struck out into the world for
themselves, Edward getting place as
IN Cfronf
Office
That was his start At the age Of
eighteen he was given an interest in
the firm, and four years later he found
that his savings, with which he had
speculated so successfully, enabled him
to purchase a seat on the New York
Stock Exchange.
When He ARRIVED"
Hartman really arrived" when he
became vice president of the Illinois
Central. His aptness for the manipu-
lation of railroad securities was soon
made manifest and then he had full
scope for his talents.
With a fortune amassed between the
years 1870 and 1880 he was accredited
with having in his strong box securi-
ties which had been picked up in the
course Of various panics that cost him
little or nothing. With these as a
working basis and with the support OF
Stuyvesant Fish he rapidly advanced
the interests and value Of that road.
Fish became president and Hartman
first vice president. More success fol-
lowed, and then came the break with
Fish. Next came the announcement
that Hartman had gained control OF
the Erie road.
Then Came Union Pacific.
1t was in 1898 that Hartman electri-
fed the financial world when he an
nounced that with the aid Of Kuhn,
Loeb & Co. be intended to reorganize
the Union Pacific. Morgan had at
tempted the same feat and failed. he
began to buy the stock when it sold at
Sc share. and in two years he had
the stock up to S195 share. He then
turned to the Southern Pacific and did
just as we'll with that stock. Then he
evolved plan whereby the Union Pa
cific directors should issue $1OO, 1000, GOO
of bonds and let him personally pur-
chase any stock or stocks he saw fit.
In this way Hartman bought his
way into other roadside Baltimore
and Ohio, the Erie, the Delaware and
Hudson. the Chicago and Alton. the
St. Paul. the New York Central. Lake
Shore and many others. Some of these
deals brought condemnation, and a
matter Of $57.0OO,0O0 faded away in
the two years be had charge Of the
Chicago and Alton. The Illinois courts
took up the HINT for this vast sum. but
they soon abandoned the chase.
Hartman first became q national
figure in 1901. when he fought ]. Pier.
pont Morgan aud James ]. Hill to
standstill, bringing about the North
ern Pacific corner.-New York Evening
World.