Bismarck daily tribune. [volume] (Bismarck, Dakota [N.D.]) 1881-1916, 1909-09-10

CTdl huu EdCluC MdA SICoASAAH WA
pany. His, holdings of Brooklyn Ra-
pid Transit stock and, bonds were
very large few years ago and these
have probably been increased in late
years. He was reported to have been
the largest individual stock holder
in the Wells Fargo Express Company
which only recently acquired a vir-
tual monopoly of the express bust
ness in Mexico.
Harriman's real estate holdings in
this city were comparatively small.
His home in Arden is said to repre-
sent an outlay of over 100000.
Hartman Obituary.
New York, Sept. 9.-From early
manhood a commanding figure in the
widening circle of Wall Street ac-
tivities. 1t was in 1897 that E. H.
Hartman gained foothold by which
he lifted himself from the numerous
company of moderately successful
financiers to place among the half
dozen financial kings of the age. At
one time Union Pacific stock was 60
ing begging and the road was the
despair of many moneyed interests
whose brains and capital had failed
to place it on a paying basis. Har-
riman, backed by Kuhn, Loeb & Co.,
and the Standard Oil Interests, I'M
dertook the railroad. He secured a
controlling interest, reorganized,
and through his transcend
ent genius converted the bankrupt
company into one Of the best divi-
dend payers. In this rehabilitation
and later, when he took hold Of the
Southern Pacific Harriman's policy
was one of lavish expenditure, which
made the properties as near physi-
cally perfect as possible. This pol
icy has been continued on all the
Hartman lines and to it has been
added close study of territories adj
jacent to the properties and which
or could be made to con-
tribute to their welfare.
Harriman's most spectacular per-
Torrance and which made his name
familiar to all the reading public
was in May, 1901, when he was strug-
Cling with the Morgan and Hill in
terests for the control of the North
ern Pacific. On May 9 of that year
the historic Northern Pacific corner
resulted in the stock of that COM
pany going to $1,000. At the ''show-
down" Hartman produced $78,000,-
600 in stock out of a total og $780,
900 900 however, Hill-Morgan people
held the whip-hand through q by
law Of the company which permitted
a retrenchment of preferred stock
at any time. OF this holding SAL
100000 was preferred stock but Har-
riman secured compromise and he
and some of his associates were
elected to the Northern Pacific d.
rectorate.
Harriman's success was not with
out early struggles. He made his de-
butte as railroad man in 1883 when
he was made a director of the IIli-
nois Central. He was then worth a
million. He established close rela-
with James Stillman and be-
came a member Of the banking firm
Of Loeb, Hartman & Company. He
also formed business alliance with
Jacob H. schir and his influence in
Wall street grew rapidly.
In 1894 he attempted reorganiza-
ton Of the Erie road and became in
volved in fight with the Morgan
interests. In this struggle Hartman
was soundly whipped. Undaunted
he started to learn the railroad bust
ness in way to make him master
and SO equipped himself for the use.
cessful undertaking with the Union
Pacific three years later.
Hartman was born In Hampstead
Long Island, February 25th, 184s,
third son of Rev. Orlando Hartman,
Jr., rector Of st. Georges Episcopal
church at Hampstead. His mother
came from an old and aristocratic
family of New Brunswick, N. r. The
family in small circumstances and
the youth, who was to become multi
millionaire, knew no luxery and
worked hard for little spay. At six
teen he found employment as en-
rand boy In brokers' Office in Wall
street. He developed into an astute
lad always looking for chance to
better himself, and in 1870, before he
was twenty-three years old he had
bought seat on the New York,
Stock Exchange and paid $4,000 for
1t which he had made in speculation.
During the years he had been err
rand boy and later as brokers clerk