Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1909-08-26
AN UNFAvoRARLE INTERPRETA-
TIoN OF HEALTH REPORTS
AND REPORTED POLICY OF DE.
svELoPMENT HAVE EFFECT.
WILL PUT SURPLUS
BACK INTO ROADS
FINANclER ANNOUNCES ON RE.
TURN FROM EUROPE THAT
HIS PLAN WILL NOT BE TO IN.
CREASE THE DIVIDENDS.

New York, Aug. 25.-The stock mar
ket opened weak today on unfavorable
interpretations of the report OF Harri-
mans health and disappointment over
his interview In which he indicated 1T
10 be his policy to maintain the pres.
ent dividends and extend the proper
ties Father than increase Immediately
the returns to stockholders. The Har-
riman railroads, the New York Cen
tral, Erie and Reading, were conspic-
uously weak with declines of a poinr
or more.
Hartman rested quietly at his
home at Arden this morning. He had
not been disturbed at 1890. The
general counsel of, the Southern Paei-
flc, Judge Lovett, went out to see him.
Harriman's Interview.
IN his interview, given on his land.
tag yesterday afternoon, Mr.. Harri-
RAN said:
/ Three years ago ] was called al
lspeculator. That was when Union Pa
cifics was placed on a 10 per cent divi
dend basis and Southern Pacific on d.
5 per cent dividend basis. I had a
hard time convincing my associates
that the roads could pay such divt-
dends, but had come to realize that
We We're building, not better than we
knew, but quicker than we knew. II
| was difficult for me to comprehend
the development and returns which
| followed Our construction work In the
west were so enormous and so rich"
| do you mean to put the surplue
earnings into the roads rather than
to turn them over to the stockhold-
erS," he was asked
Yes, that's about It." he said.
THAT is my DEMONSTRATION and
development-and / guess the public
and the press are convinced now that
am not a speculator During those
four years 1t was difficult to convince
my associates. They were hard
three years I wish could wipe them
out, but am through with that now"
Says He Wants Branch Lines.
Mr. Hartman would not say just
what new undertakings he proposed
| But" said h J, 'it is in my mind to
open up new territory and to build
new tributary lines. This means new
settlements and more people.
/ This attitude he emphasized
throughout his talk on railroad mat
ters, leaving the inference that he
contemplated improvements rather
than increased dividends. In this
connection the action of the directors
of the Union Pacific and Southern Pa
cific railroads today is significant.
Both met. but declared only the reg
ular dividends.
Touching on his railroads in Mexico
4 Mr.. Hartman said he had no immedi-
i ate improvements in nlind-at any
rate, not until new equipment was
needed At this point his attention
was directed to recent magazine
article which said there was raid In
the west against him because OF his
high short haul rates.
at is alleged that you exact more
to haul from New York to Salt Lake
City than from New York to San
Francisco" some one suggested.
II don't want to go into rates at
this time" was the brief. reply. "My
method Is to serve the public and
have them get what they pay for. 1t
is like buying new suit of clothes.
The public gets it's moneys worth.
, give them the best equipment, the
best tracks and regular time"