Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1909-09-10
HARTMAN DEAD.
Continued from Page One)

arrangements DrltHy tonight. lie Sald
that Mr. Hartman would be buried
in the family plot in the little grave
yard behind st. Johns Episcopal
church at Arden. He will rest beside
his oldest son. Edward H. Hartman.
il who died ~ years ago. soon after
the family first came to Arden. =
shaft of blue stone, uuarried from the
steep sides of Tower Hill marks the
grave of baby Edward. and 1t is prob
able that a similar stone of modest
| size will be erected over the last rest
| in:; place of his distinguished father
The service will be held at $50 Sunday
! afternoon next ana. it is understood
| i'll he strictly private.
From carly manhood a commanding
| figure in a widening circle of Wall
street activity. it was in 1887 that Ed
ward Henry Hartman gained q foot
| hold by which he lifted himself from
the numerous company of moderately
successful financiers to place among
| the haf-dOZen financial giants of the
| age. AZ that time Union Pacific stock
WAS going begging and the road was
the despair of many moneyed interests
whose brains and capital had failed to
place it on a paying basis. Hartman.
| backed by Kuhn. Loeb & Co. and
Standard Oil interests. undertook the
rehabilitation of the railroad. He secur-
cd . controlling interest re-organized
| the mana Sement and by this tranSceE-
dent business genius converted the
! bankrupt company into one of the best
dividend payers. In this and later when
| he took hold of the southern Pacific.
| Harriman's policy was one of lavish eX-
Dcnditure. which made the proper ties
| as near physically perfect as possible.
The matter of dividends was allowed
to wait upon their perfection. This
policy has been continued toward all
the Hartman lines and to it has been
added a close study of the territories
adjacent to the properties which con-
tributed or could be made to contrib
ute to their welfare
| HarrlmanS most spectacular per-
| Torrance, one which made his name
familiar to all the reading public, was
| in May. 1901, when he struggled with
the Morgan and Hill interests for con-
troll of the Northern Pacific On May
~ OF that year the historic Northern
Pacific corner resulted in the stock of
| the company going to $1,000. Or the
''Show down Hartman produced S7S,-
| 100000 in stock out of total f.sl55,-
| r00.h0u. However. the Hill Morgan in
| tcrests held the whip hand through a
| bylaw OF the company. which permitted
| the retirement OF preferred stock at
any time. OF his holdings SAL 100000 was
preferred, but Hartman secured
compromise and he and some OF his as
sOciarcs We're elected to the Northern
| Pacific directorate.
| HarriEan's success was not without
early struggles. lie made his debut as
q railroad man in 1852. when he WaS
made a director of the Illinois Central
| Railroad. He was then worth 81 900
| ,Go. He established close relations with
james Stillman and became d member
of the banking firm of Loew, Harri-
man & Co.
He also formed q business alliance
with Jacob II. Schtf and his influence
II Wall street grew rapidly. In 1891
EC attempted reorganization of the.
Erie Railroad and became involved In
fight with the J. F. Morgan inter-
ests. In this struggle Hartman was
Soundly whipped. Undaunted, he Sc,
about to learn the railroad business In
equipped himself for the successsu;
undertaking with the Union PacifN
three years later.
Mr.. Hartman was born in Hemp
stead, l.. L., Feb. 25. 1S4S the third son
of Rev. Orlando Hartman. Jr rector
of ST. Georges Episcopal church al
Tic mpSt"ad. His mother came from az,
OLD and aristOcratic family of New
brunswick, y. J. The family was in
humble circumstances and the youth
who was to become 4 Millionaire
knew no luxuries and worked hard
for the little education he received. At
t. he received employment as an err
rand boy in brokers' Office in Wall
Street. He developed into an astute
lad, always looking for a chance to-
better himself and before he was %
years old had bought sea! on the
New York Stock Exchange and paid
for il with $4,000 he had made in spec
ulation. During the years that ne had
been an errand boy and a brokers'
clerk. he had never forgotten what
his early years of privatiOn had taught
hiil-that each dollar represented 100
pennies. each with 4 purchasing power
He learned his elementary lessons in
finance in the school of Jim Fisk Jaw
Gould and Commodore Vanderbilt and
emerged broker on his own account de-
void of sentiment in business, as was
shown later when he fought and ousted
ION the presidency of the Illinois Cen
tral Railroad Stuyvesant Fish, a man
who had probably done as much to HELM
young Hartman on his career as anv
other man now living and who had wears
before made him vice president of the
road.
When the insurance scandals of 1909
came to light, Hartman was a director
OF the Equitable Life Assurance Society.
OF which his friend, James Hazen HYDE.
owned the controlling stock Hartman
vas Hyde's closest adviser in the fight
which was made to displace young HYDE.
and many have said the result might
have had at least different phase had
not Hyde at the last moment turned upon
Hartman and charged him with being an
enemy in the guse of friend seeking to
take Hydes place in the Equitable When