The San Juan islander. [volume] (Friday Harbor, Wash.) 1898-1914, 1909-09-17
NOFLURRYIN
FINANCES
WALL STREET IS NOT DIS
TIJRBED BY PASSING OF
MR.. HARTMAN.
End of Railroad Financier Was
Long Expected Jacob H. Schiff
and Judge Lovett Will Proba-
Div Divide Burden of Directing
Affairs.

Affairs.
New York, Sept. 11.-Following ex-
pressions of regret On Mr.. Hartman
death, Wall street considered its ef-
feet on the properties under his con-
troll and the financial world generally.
It was pointed out that Mr.. Harri-
mans friends and the leaders OF the
financial world have known for some
months that his malady was incurable
and that it was only a question of time
until he would be forced to lay down
the active direction of the great rail
road fabric he had built up. There
| fore it was assumed that undoubtedly
ample preparations had been made for
his death or retirement.
Mr. Harriman's death comes at
time when the business affairs OF the
country are in excellent condition.
With the general knowledge that
Mr.. Hartman could not long continue
his active career, Wall street had al
ready made ready for the end. There
was no alarm when the announcement
came. On the contrary, there was
feeling of security and even of seren-
| ity.
There was some talk among the
leaders of finance about informally
comforting, but even this was deemed
unnecessary Such prominent figures
as J. P. Morgan, Jacob H. Schiff, Jas.
Stillman and Geo. w. Perkins went to
their various homes without concerted
action.
1t is believed by Mr.. Harrimans as
sociates that the railroad system that
he organized and carried forward to
such a degree of success will be con-
tinued with practically no change of
policy and that plans to that end were
perfected by Mr.. Hartman long be-
fore his death.
There were numerous reports con-
corning the status Of the vast proper
ties under Mr.. Harrimans direction.
One was that his securities had been
trusted and were held intact for the
greater safety of his estate and the
| properties COuCoTuoQ..
James J. Hill Praises Him.
From all parts of the country come
tributes upon Mr.. Harrimans career
and life work. AS to the probable eff
feet of his death on the financial world
there is a variety of opinion, but COM
ment is generally guarded.
One of the finest tributes comes
from James J. Hill, another giant
among the railroad builders and a
one-time business adversary.
II have always regarded Mr.. Harri-
man very highly" he said. II have
done a great deal of business with
him in the last few years and some of
it, as you know, has been of rather
strenuous character. So I think 1
ought to know him pretty we'll. He
did the work of several men during
his lifetime. He was one who never
left anything undone, and there are
few men in this country whose place
it will be harder to fill. 1t is greatly
to be regretted that Mr.. Hartman
could not live to complete all the work
he had set out to do.
There should not be any serious
financial disturbances as the result of
his death. All his properties are in
good shape. He was not one who
would leave his affairs so situated
that the wolves could prey upon them.
The great railroad systems he created
will run along as u"ual and somehow
his pace will be filled, for all of us
die and yet the world wags on. The
people of the United States are not
likely to forget the great work he has
accomplished for them
Responsibility Divided.
The Kuhn, Loeb-National City Bank
group will continue to act as the chief
financial agents of the Hartman lines,
but just who will assume the head of
his vast affairs is matter of specula-
ton. 1t is generally understood that
Jacob H. Schiff and Judge r. S. Lovett
will divide between them the running
OF the complex organization built up
by Mr.. Hartman, while others whose
shoulders will bear part of the bur-
den are Julius Kruttschnitt, vice-pres-
1dent of the Southern Pacific railroad
and director of maintenance and oper-
alton of the Hartman lines; Freder-
lex d. Underwood, president of the
Erie; John c. Stubs, traffic manager
OF the Hartman lines; L. F. Loree,
president of the Delaware & Hubs on;
William F. Herrin, of San Francisco,
and William Herd, chief engineer of
the Southern Pacific.
Tributes to Mr.. Hartman were ex-
pressed by men of note all over the
world today. The flag of the New
York Stock Exchange was half-masted,
as were those on most of the large
banking institutions The Hartman
offices in the city will remain closed
until Monday. On that day a meeting
OF the board of directors of the Union
Pacific and Southern Pacific railroads
will likely be held.