The Birmingham age-herald., 1909-09-12
Clash of Wall Street Forces Is Indicated In Nam-
 ing the Man
JUDGE LOYETT WILL
 BE MADE PRESIDENT
It Is Thought That J. p. Morgan is Buying Union Pacific Stock Heavily In Order to Secure
 Control of the Lines.

New York, September 11-(Special.)- Wall street has settled down to the con viction that J. P. Morgan, Jr., Young Jack" is to succeed k. H. Hartman as chairman of the executive committee Of the Union Pacific and that Robert S. Lovett is to succeed to the presidency of the company.
 This report was strengthened today by the development that week before Harriman's death J. P. Morgan visited him at Tower Hill and that the two great masters of finance and transportation calmly composed their differences, by which the Morgan interests were to enter Union Pacific should death overtake liar riman.
 The report was further strengthened by the renewed evidences of the day, that the elder Morgan was continuing to buy heavily of Union Pacific securities. Just what his accumulation of the stock amounts to is thus far a matter of con- lecture It is believed, however, that they are already heavy enough to enable him to control. the election of the two di- rectors to be chosen at the annual meet ing on October E to succeed Hartman and Rogers. A combination, 1t Is said, will then be formed between the loyal Hartman men on the board and the two new Morgan directors.
 At the meeting of the board on Monday it is not expected that any business will be transacted It's only object, Judge Loyett declared today, is to adopt appro- 7 priates resolutions on the death of MT. Hartman. It is possible. of course, that one or more representatives on the board opposed to the Morgan programme may attempt to make demonsttati3h 4gafTist it, but it is not thought that this will amount to more than an effort to frighten the Morgan interests into some sort of compromise on the segregation scheme of the Stillman- Vanderlip- William R. Roclze- feller party.
 The board of directors now consists of Oliver Ames. Boston; w. V. Thorn, H. c. Trick, W. G. Rockefeller, W. R. Goelet, R. s. Lovett, c. A. Peabody, Frank A. vanderlip and William Mahl, New York; A. J. Earling, Marvin Hughitt and P. A. Valentine, Chicago, and Joseph F. Smith, Salt Lake City.
 Ames, Thorn, Earling, Hughitt, Golet, Lovett, Peabody and Mahl are known to favor the entrance of Morgan into tho administration of Union Pacific affairs along the lines mapped out by Hartman.
 Rockefeller and Vanderlip are thought 10 be opposed unless substantial conces- sions are made to the segregation scheme. Prick Is believed to occupy neutral ground. Joseph F. Smith is the head of the Mormon church and will be governed largely by considerations apart from those that may control other members of the board.
 The attitude of Kuhn, Loeb & Co. is a matter of peculiar interest to both fac- tions. That concern is the custodian of the proxies of stockholders In a state ment issued Friday the bank at the same time with second appeal to stockholders to forward promptly their proxies for the October meeting of the board, said that 'It Is announced that Kuhn, Loeb & Co.,, National City bank interests and other leading interests are acting in unison in Union Pacific affairs"
 Fear was expressed in Wall street to- day that this may indicate the forma ton of a pact between the National city bank and the Kuhn, Loeb & Co. bank to mix things with Morgan in the lat ter's attempt to get control of the Union Pacific with a view to carrying out the Hartman policies to the letter.
 Such a battle would be fierce. Its con- sequences would be so terrific that con- servative financiers incline to belieev it will not occur Besides, 1t is generally thought that Morgan has already acquired enough stock of his own which pooled with the holdings of Hartman and the Hartman party will easily give him control.