The Ogden standard. [volume] (Ogden City, Utah) 1902-1910, 1909-09-10

New York. Sept. 9-From early
manhood commanding figure in a
widening circle OF Wall street activity,
it was in 1897 that Edward Henry
Hartman gained foothold by which
he lifted himself from the numerous
company of moderately successful
| tinanciers 10 place among the halt
dozen financial gians of the country.
Union Pacific stock was going beg
ging and the road was the despair ot
many moneyed interests Hartman,
backed by Kuhn, Loeb e Co and
Standard OIL interests. undertook It's
rehabilitation. He secured u con-
trolling interest reorgani2ed the man
agement and converted the bankrupt
company into one OF the best dividend
payers. In this rehabilitation, and
later when he took hold Of the South
ern Pacific Harriman's policy was one
Of lavish expenditure, which made the
properties as near physically perfect
as possible The matter of dividends
was allowed TO wait upon their per-
| lection.
Earrimans most spectacular per
| formance was i'm 1901 when he strug
gled with the Morgan and Hill inter
ests for control Of the Northern Pa
clfic. On May of that year the his
torlc Northern Pacific corner resulted
in the stock OF the company going TO
$1,000. Al the show down" Harri-
man produced SIS 0D0, 900 in stock out
of total of $155,000. 900. However.
the Hlll-Morgsn people held the whip
hand through a bylaw which permit
ted the retirement of preferred stock
at any time OF his holdings. $l1 ,000.-
600 was preferred stock. but Harrl-
man secured a compromise and he
and some OF his associates were elect
ed to the Northern Pacific directorate.
Hartman made his debut as a rail
road man in 1888. when he became q
director of the Illinois Central. He
was then worth a million dollars. He
formed a business alliance with Jacob
II Schiff and his influence In Wall
street grew rapidly. In 1894 he at
tempted TO reorganize the Erie rail
road and was soundly whipped in a
fight with the Morgan interest I'm
daUnted, he set about to learn the
railroad business in way TO make
him master and so equipped himself
for this successful undertaking with
the Union Pacific
Mr. Hartman was born in Hemp.
stead, Long Island February 25, 1918
the third son of Rev Orlando Harri-
man. Jr., rector OF st. Gearge's Epis-
copal church at Hempstead The
youth who was TO become a multi
millionaire knew no Injuries and
worked hard for the little education he
received AT sixteen he found employ
ment as an errand boy In a brokers'
office In Wall street, He developed
into an astute lad always looking for
a 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 for it with $4,000 he made In
speculation.
He learned his elementary lessons
in finance in the school of Jim Fisk
Jay Gould and Commodore Vanderbilt
and emerged broker on his own ac-
count devoid Of sentiment In business.
This was shown when he ousted from
the presidency OF the Illinois Central
Stuyvesant Fish. man who probably
had done as much TO help Hartman
on In his career as any other man now
living and who had years before mado
him vice president of the road.
When the insurance scandals of 1905
broke out Hartman was a director