The Birmingham age-herald., 1909-01-31
NICHOLAS WALL
 STREET LETTER Hartman Enters New York
 Central Ranks MAY FINALLY DOMINATE The Stock Market Is Drifting Along Without Special Features-Takes
 Slight Interest In Cur
 rent Affairs.
MAY FINALLY DOMINATE
By W. G. NICHOLAS.


 camel has at last inserted its nose under the New York Central tent. The specu- lation now as to whether the animal Will presently inslnuate it's entire frame uhoel the canvas and take possession or the whole shooting match. It is MT. harri- mans habit to dominate everything Ho gets into and if he does not presently as sume virtual or actual control or ehe New York Central, his failure 10 do so will be a marked deviation from ms policy and his rule of life.
 The S14000, 900 in stock or the Senl,o oi' which reposes in the treasury of Union Pacific and the added millions helo py MT Hartman and his friends personally do not constitute more than E to 10 pet cent of the entire share capltailzalloh ol the company, but that does not heces- sarily mean that he will not De aole eo get the real control or the pr|felty' Tt has been many years since tae Van derhilt family has owned more than that nroportion of Central stock, yet it has retained control in the most absolute fashion. Some plain facts with regard to New York Central in criticism thereon have appeared from time to time 1n these letters.
 Central is conspicuously the one great
 
 which has been run by proxy. The Van derbilt management has regularly, every year. sent out blanks to its immense list of stockholders asking their proxies for the retention of the ruling dynasty and as regularly these proxies came pack neatly filled out in the affirmative as re- ouested The control has in this way been perpetuated without the slightest opposition developing in any quarter. This has been because nobody in whom the stockholders could repose the full confidence has seen fit to go out gunning for the Vanderbilt control. The family name indeed has been one of the chier sources of investment confidence in the property. Years ago it very property stood for progressive and wise manage ment. It stood for the conservation of the railroad itself and for satisfactory service to the public. That was years ago For the last decade the railroad has either stood still or made headway very slowly in comparison with the prog ress achieved by it's great rival on the south. the Pennsylvania. The result has been that the latter years ago took away the leadership from New York Central and Is now so far ahead in the race that it stands in a class by itself. Central is so far in the rear that it is almost in the ''also ran class. W. K. Vanderbilt has insisted on personally directing it's poli- cies, and as he has been absent the greater part of the time. the executive, administrative and operative departments of the company have been sadly at sixes and sevens. The regular meetings of the board of directors have been the scenes of continual quarrelling and bickerings, so much so that conditions are known and laughed about generally in railroad and financial circles. Whether the en- trance of MT Hartman into the direc- tory will eonduce to the immediate har- mony of the waring factions is at least open to doubt. The only kind of har- mony MT. Hartman knows anything about is that resulting from his absolute domination. It is the peace that reigns in a desert after the Bedouins have de- vastated 1t.