The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1909-09-10

READY AT MS mana, 10 90 with as ne
pleased, and he went to Chicago
where General Manager Jeffrey was
in charge OF the line. He began to
plan changes and to execute them.
General Manager Jeffrey, incense6
at the idea OF taking orders from this
tyro in the work OF practical rail-
reading. resigned Hartman went
cheerily on, as if nothing had happen
ed, with that optimism which marked
his every utterance and action up to
the day Of his death. He remained
there for three years, taking what was
for him postgraduate course in rail-
reading. making a few mistakes and
profiting by every one he made.
All of this time. while Hartman had
been recognized as a man Of marked
ability, he had not been taken up by
any of the big men" Of Wah Street
In those days. even as now. selfpromo-
ton was a factor. The man who
talked big, gripped hands heartily.
made himself heard and seen, got the
first hearing. This was not the art of
Hartman. He was a man of action,
but not an actor.
Begins His Reorganization.
Perhaps it is for this reason that
for some years after taking charge of
the Illinois Central comparatively lit
tie was heard Of him. He was not
called upon to take part in any Of the
big reorganization schemes In Wall
Street until 1898 when Kuhn, Loeb &
Co. made him chairman Of the new
executive committee of the old. run
down, scandal-ridden Union Pacific.
The Kuhn-Loeb syndicate paid the
government $57 200, 900 cash and $27.-
100000 to settle with the holders Of
the first mortgage bonds. In return
they got 1900 miles Of a rundown rail-
road, from Omaha to Ogden. But that
road was the beginning OF the great
railroad system OF 1909. controlled by
E. H. Hartman and stretching over
67,759 miles OF track.
Harriman's development of Union
Pacific is one of the virile romances
OF railroad. 1t came at time when
the country was about to plunge into
war with Spain over the troublesome
little Island Of Cuba; when Theodore
Roosevelt, as the belligerent Assistant
Secretary Of the Navy was clamorour
for battle; when railroads were going
to be overwhelmed with traffic as
never before, since the crowded days
of the civil war.
Napoleon Of Finance.
| Hartman saw all this coming, and
while his board of directors denounced
| the middle-aged Napoleon OF finance.
he ordered equipment over their
heads. consulting no one, AMI Kuhn.
Loeb & Co., with growing faith in his
genius. paid the cost.
Instantly Union Pacific began to
prosper; it's stock rose in Wall Street
it was a vital railroad, through the
heart Of a rich country, pointing east
toward the Atlantic, west toward the
Pacific. and Hartman meant that
some day those shining rails should
bridge the land from the one ocean to
the other.
He lived to see his dream realized.
For Hartman was a dreamer as
we'll as a toiler. It needs Imagination
this achievement Of big things and
the small bodied, big Drained railroad
builder could see SO much farther
ahead than his associates that they
often thought him visionary. But he
went right ahead with his visions
ened curves and leveled grades and
saved mile, a half mile, hundred
yards. wherever engineering skill
made it possible.
He spent $200. 0O0,000 in six year.
improving Union Pacific. He took his
trains from Ogden directly across the
Great Salt Lake. instead of by a Ions
haul, over steep grades around the
shore
| A Solitary, Seeretive Figure.
And all this time all one could sex
or know Of Hartman was his work
He was a solitary. secretive figure
coldly practical when he was MOI
dreaming OF wonderful developments
He took no one into his confidence
not even his boards OF directors.
When he decided to raise the divi
dend on Union Pacific to 10 per cen
he casually omitted to mention it Il
anyone in advance. No one in Wal
Street was "on" and no one had load
ed up with the stock to make a coup
II there was to be any specializing il
Union Pacific, Hartman was going t.
do it himself When the Union Pac!f
ic dividend was raised. it was the in
vestors who got the benefit, not The
traders in Wall Street.
/ When Hartman found obstacles IL
his way he brushed them aside One o
these was Stuyvesant Fish. whom h
brushed from the Presidency of tn.
Illinois Central two years ago. putin,
Harrahan in his place. Wall Stree
denounced Hartman bitterly for hi
socalled disloyalty TO Fish. his frien,
Of more than twenty years standing
But the simple tact was that Fish 90
in the way Of HarrimAn's express