Omaha daily bee., 1909-09-14
]. H. Schiff and william Rockefeller
Elected Directors.
LoREE SLATED FOR PRESIDENT
Annual Meeting of Company Will Be
Held October IL.
PACIFIC MEETS TODAY
Judge LOvett VIII Probably BE
Elected Head of Executive Conn
mittee and schiff and ROcke-
feIIer VIII BE Directors,

NEW YORK, Sept 12-The continuance
of the Hartman policies IN the manage
ment Of Union Pacific Southern Pacific
and the chain of allied railroads was made
certain today, temporarily at least when
Robert S. Lovett, e. H. Harriman's per-
sonal counsel and close friend, was elected
to succeed Mr.. Hartman at the head Of
the executive committee of the Union Pa
cific railroad.
To strengthen further the dominance Of
the Hartman idea" Jacob H. Schiff ana
William Rockefeller. both heavily inter-
ested in the Hartman enterprises, were
elected directors In place of Mr. Hartman
and the late H. H. Rogers. and also were
chosen to places on the executive commit
tee.
LOree for President.
The Union Pacific still remains without
a president as Mr.. Hartman occupied this
position also. It is understood, however,
that an operating man-probably L. F..
Loree president of the Delaware & Hud-
son, will be elected for the place at the
annual meeting of stockholders to be held
on October u. Proxies for this meeting
already in the hands Of Judge Lovett and
Alexander Millar, secretary Of the Union
Pacific, seem to guarantee that the eelec-
tion will be dominated by the Hartman
interests
The office which Judge Lovett assumed
today is the most important in the manage
ment and financial supervision Of the Union
Pacific. Judge Lovett's close associations
with Mr. Hartman, particularly during the
last weeks of the latter's life, make him.
In the opinion of the Hartman lieutenants,
peculiarly fitted to assume the RESPONSE
bilities of the position. He and Loree, the
slated candidate for the presidency, share
the honor Of a close familiarity with Mr.
Harriman's plans and dreams for the un-
developed territory over which he hoped to
push the aSOendaney OF his railroad sys-
TENS - -
socthern Pacific Meeting Today.
The directors of the Southern Pacific will
meet tomorrow. 1t is taken for grantees
that their action Is fully forecasted by to-
days meeting and that Judge Lovett will
be seated, as chairman of the executive
committee also in Mr.. Harriman's place.
with Jacob schift or some other partner
in the firm Of, 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
rumors which went the rounds last week
TO the effect that a member of ]. p. Nor
gan & Co. would be elected to the Union
Pacific board. No such change developed
and as it stands today the executive com
mittee remains in the parlance of the street.
"A Kuhn-Loeb-Standard Oil board" For,
besides Judge Lovett, Jacob H. Schiff and
William Rockefeller, the members are H.
C. Frick OF Pittsburg; Marvin Hughitt,
president Of the Chicago & Northwes lern,
and Frank A Vanderlip OF the National
City bank, New York.
Morgan Not Represented.
The failure of the Morgan interests to
gain place on the reconstructed board
was a surprise to Wall street, where last
weeks rumors had been given credence.
1t was pointed out tonight, however,
that possibly the Morgan interests, fear
ing disastrous results from any radical
changes at this time, may have purposely
postponed the selection of a representative
until the regular annual election In Oc-
tober,
OF the two new members elected today
the election Of Jacob II. Schiff attracted
the widest comment in financial circles,
for the reason that the firm of Kuhn.
Loeb & Co. formally withdrew a few years
agement of all the railroads for which
they acted as bankers, with the declara-
tion that 1t was their policy as a bank
ing house to assume this attitude.
No statement could be obtained from
Mr.. 6chiff as to the apparent change, but
It was authoritatively stated that the in
tsrests OF Kuhn, Loeb & Co. and that of
their powerful foreign connections had be-
come so interested in Union Pacific that
It was believed unwise for the firm to
longer remain aloof from participation in
the government 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 10 New York city in
1906. Born In Texas, forty-nine years ago,
he entered the railroad business while a
boy as q AO-s-month freight clerk for the
Houston. East and West Texas railroad,
at Houston. While serving as a freight
clerk he studied law at night ana event.
ually became country counsel for the
railroad, journeying from village TO village
and devoting his talents principally TO the
settlement OF cattle claim cases. Later
the receivers OF the road made him a dis
trict counsel and his success in straight
ening out the affairs Of the bankrupt com
pany won him promotion to the position
Of general counsel His next step was a
membership In a firm which represented
the Southern Pacific He became so val
liable to this system under Mr.. Hartman
that he Was made general counsel with
offices at Austin. Three years ago Mr..
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