The Oskaloosa herald., 1909-09-16
HARTMAN BANK
| PLACE TO MORGAN
}. T, Jr., Elected National City
Director.
FiNANCIERS IN HARMONY
Election Regarded as Indication of
Peace in Wall Street-Harri-
mans viii to Be Filed
To-Morrow.

New York, Sept. 15.-J. p. Morgan,
Jr., was elected to the late E. H. Har.
rimans place on the board of direc-
tors of the National City bank.
BY Wall street the election is re-
garded as one of the most significant
OF the weeks financial developments,
presumably indicating that harmoni-
GUS relations exist between the Nor.
gan and the Kuhn, Loeb-Standard Oil
groups of financiers. Added weight
was given the event because 1t fol-
lowed so closely upon the recent re-
ports that the Morgan interests were
about to take an active interest in
the government of the Hartman roads
and that the younger Morgan was
slated as the ultimate successor of
Mr.. Hartman in the command of the
Union and Southern Pacific systems.
Largest Of Nations Banks.
| The National City bank largest Of
the nations financial institutions, is
controlled by the Kuhn, Loeb Stan
dard Oil interests, which has assumed
commanding position-for the time
being, at least-in the executive COM
mittee of the Union Pacific.
The directorate of the Southern Pa
cific elected Judge Lovett chairman of
the executive committee, while Jacob
H. Schiff and William Rockefeller
were elected directors and made men,
bers OF the enlarged executive COM
mittee. AS was the case at the Union
panifin fob
In the matter of electing a successor
to Mr.. Hartman as president.
Will to Be Filed.
Mr.. Harriman's will is to be filed
this week. according to Judge Lovett.
who was believed to have been closer
to Mr.. Hartman than any other man.
He would not discuss the contents of
the will, but said it had been drawn
by Charles A. Peabody, president of
the Mutual Life Insurance Company,
and that it was in his possession.
This will, which is perhaps exciting
more interest than any similar docu-
ment in many years, will probably be
filed for probate at Goshen, the county
seat of Orange county, which includes
the large Hartman estate at Arden
For legal purposes a copy may be en-
tered in the courts in this city, and it
is understood that the first announce
ment of the Wills details will be made
in this city. IL was understood that
the will would probably be filed on
Thursday.
Plans VIII Be Carried Out.
Among Mr.. Harrimans most in.
innate friends the belief prevailed
that the enormous Hartman railroad
long period, and that the will creates
a trust for their administration, tn.
income going to the heirs 1t is also
said that while the railroad and com,
mercial interests will be held intact
throught trusteeship, the will gives
to Mrs. Hartman the magnificent es.
tate at Arden and also the town house
in Fifth avenue.
II these surmises are correct, and
they are generally credited in Wall
street, many localities in various parts
of the country will rejoice. 1t will
mean that the plans for railroad de.
velopment which Mr. Hartman had
under way will be fully executed by
the trustees of his estate In acquir.
ing considerable interest in the
Erie railroad it was commonly ac.
cepted that Mr.. Hartman contem.
plated a radical Improvement in the
system, particularly in the suburban
service On the strength of this be-
lief property values along the subur.
ban lines adjacent to New York and
other large cities were largely in
creased. The same is said to be true
of other railroads and transportation
systems in which the financier was
interested, and on which he had had
no time to execute any plans he may
have formed for their improvement.
No Election Today
The meeting of the New York Cen
trail directors today failed to elect a
successor to Hartman on the board
Wall street is wondering If the recent
ly reported Hrriman influence on the
Vanderbilt system was mythical 1t is
believed that in time Lovett will be
elected in the Hartman vacancy
on the board.
Tin ts Pojsonous