The Hawaiian star. [volume] (Honolulu [Oahu]) 1893-1912, 1909-09-24
A BANKERS VIEW OF HARTMAN.

That Hartman the last of his type the view expressed in
Cew latest banking circular The opening sentences somewhat
suggestive the unfair with which the hnancer closing days
surrounded 1t will be remembered that shortly before his death
Hartman issued personal signed statement in which he asked the
their quest for of his condition and which
subsequent showed be nsnere and false The banking
circular just quoted says that his condition was fully appreciated
might be food for thought The well informed quarters
Messrs Morgan al The rest Of the peopeth army of
small holders of Hartman securities whose fortunes affected by
his prospects of life deaddn matter in Harrimans view Of
things Just apparent that banker Norgans brilliant "re
cite" of the country during the last great panic profit
to him and his associates naturally wonders how much those we
informed advance that Hartman death may have made
out of the information.
The banking circular further discussing the great railroad
mans death, says:
"On the other hand the passing Mr. Hartman as factor
in the financial situation must of necessity differ from the
passing Of other noted market leaders, he no
There be and should a second Har-
rnan; other financial interests will not permit it; it is
nnenty desirable that this attitude should be maintained
Forthcoming laws will doubtless impossible for anyone
to dominate the interstate railroad situation his
methods. Mr. Hartman great railroad reorganizer
upbulder magn6centy successful but his was
by greater than the risks he to time in
Cured his epohmalng specuaons on Union
Pacihcs account At stage of the panic reported
losses on these Specuaons figured into the Millions it
appalling to consider consequences that might
IN the event OF the turn from extreme decentralization
coming promptly did There is course nothing to
fear from liquidation of Mr. Harrimans personal holdings
Tor in the immediate future at least of the holdings of the
great railroad system of which he the controlling
ence But beyond this is the fact Hartman had in
course OF development number of exceedingly ambitious
plans for the extension of his railroad influence These will
probably not now be consmmated anything the same
basis he had e mind Among these plans NAV &c mentioned
his proposed acquisition of the Vanderbilt holdings the
New York entra by which the Hartman was to be
converted into transoninenal The of this
torceu leader also have bearing Union Pa
chc influence in connection with and the result in
both these instances likely to check the contamination of
the change IN control that appeared quietly though
gradually developing In broad conditions must
ne considered encouraging for the American
ties and especially for the estimation which they are to be
held abroad 1t is highly desirable American railroad
ShaeS shall represent properties and men, that such pro-
PeieS shall be managed from the street standpoint
nor from the necessities of personal specuaion should
De managed Tor the shareholders for the deve
oInent OF the country they serve The emin-
auon OF the personal speculative may therefore he
considered favorable increasing promises 70 do the
supply OF sound investments for future The demise of
Mr. Hartman means railroad map differing verv widely
from what would have been printed had he lived few wears
longer tlsr-9 SsS Ss~ - vvr-r