New-York tribune., 1909-09-14
lL0VETT NEW U. P. HEAD
SUCCEEDS Mr.. HARRIM4N
As CH4IRMAN.
Jacob III. Schif and WiIlian, ROckn-
teller Made Members of the
Board of Directors.

X. =.
as chairman Of the executive committee. Jacob
H schiff and William Rockefeller were elected
directors TO ill the vacancies caused by the
death of Mr. Hartman and Henry II. Rogers.
Messrs Schiff and Rockefeller were also
elected 20 the executive committee the member
shp Of which was increased from five TO six.
Their associates on the committee are Judge
1ovett. Henry C. Frick. Marvin Hughitt and
Frank A Vanderlip. The board appointed Mar
win Hughitt Charles A Peabody and Henry c.
Prick committee 10 draft resolutions in regard
TO Mr.. Harriman's death.
Surprise was expressed in some quarters that
u representative of the Morgan interest was not
elected 10 the Union Pacific board yesterday,
but. said in The Tribune two or three days
ago, the best opinion has been that that devel-
'opment would not occur in advances OF the an
aaual meeting Of the stockholders. next month.
when the list Of men TO be voted for as direc-
rors might include the name OF a Morgan
snominee
The two directors chosen yesterday are repre-
sentative of the interests with which Messrs.
1IaTTiman and Rogers were identified. William
Rockefeller. whose oldest son, William G. Rookie
feller. has for several years been a member OF
'the Union Pacific board. is a leading member OF
;the so-caned STANDARD OIL party. and as such
had been closely associated with Mr.. Rogers as
well as with the dominant interests in the Union
sPacihc.
Jacob H. schin is head Of the HOUSE OF Kuhn.
loeb & Co, which has been the banker Of the
Union Pacific system for a long time. He was
for years a director of the Union Pacific, but
retired early in 1906. when the members OF his
tim resigned from all OF their railroad director
ships issuing in explanation this statement:
The reason for this step is the steadily in
creasing difficulty which the members of the
lfarm have been experiencing in meeting the de-
nsnds OF their own business and at the same
time giving the necessary time and attention to
the performance of their duties as directors OF
tcorporations.
REPRESENTS FOREIGN INTERESTS
No authoritative reason was announced yes
serasy for the action of Mr.. schiff in departing
ffrom this three-year policy but it is understood
that the explanation OF the step lies in the fact
I; Of the large foreign interest in Union Pacific
which is represented by Kuhn. Loeb & Co. to
which body of investors Mr. Schin"s entrance
into the board win serve a reinsurance. sup
plementing the formal announcement of Thurs
day that Kuhn, Loeb & Co. the National City
Bank interests and other leading interests were
acting in unison in Union Pacific affairs
The directors of the Southern. Pacific COM
pany are 10 hold a meeting to-day, when it is
expected that Judge Lovett, who is a member
OF the executive committee Of that company
also, viii be elected TO succeed Mr.. Hartman as
sts chairman. II is also thought probable that
the place Of Mr. Hartman the board will be
filled by the election of Otto H. Kahn. of Kuhn.
Loeb g. Co., who a director prior 10 Febru-
airy, 1906, or Of some other member Of the bank
ing firm.
IL is understood that the presidency of the
Union Pacific probably will not be filled be-
fore the annual meeting on October -. and
that the new board of directors 10 be elected
on that date by the stockholders will choose
an operating man for the post, the name of L.
T. Loree president Of the Delaware G. Hudson
company being the most prominently men,
toned, although other possibilities include
Sulius Afuttschnitt and J. c. Stubbs. chief Of
ncers OF the system on the operating side
Mr. Hartman for some time directed the
oestinies Of the Union Pacific and Southern Pa
cihe chairman of the executive oommittas .,
each corporation. with H. c. Burt as president
OF the Union Pacific and Charles NJ Hays as
president Of the Southern Pacific II is gen
orally believed that the directors Of the two
companies will return TO that system with
Judge LoVett in responsible control as chairman
OF the executive committee of each board, carry
ing out in that post the development plans of
Mr Hartman, TO which the Union Pacific ana
southern Pacific are committed
Directors Of the Union Pacific are still entire
y uncommunicatve concerning the plsn fo,
aggregation Of the companys investment hold
anes' the announcement of which is not Ioo,eo
Tor IN the near future by the Street. Union pa.
enc was weak in yesterdays stock marker
closing az 2olss. a net loss Of 3ks points. while
southern Pacific declined IL points
JUDGE LovETT A WORKER
ROBERT Scott Lovett mas been in this city only
tnree years When Mr. Hartman got control
Of the Southern Pacific ne saw al once the aa |
Flsahnty Of getting the man who for several
years had been the presiding genius OF the dozen
or more Texas properties OF the Texas & Pacific
M Lovett accordingly became counsel for the
Southern Pacific, with Offices in Houston Tn
-SvS he came u New York and became the ter
tonsl counsel and confidential adviser OF Mr.
hartman AS consequence of this intimate
relauonshsp there is probably no one who knows
cihc
The man who succeeds z. II. Hartman ha,., |
life in even humber circumstances thar a,s h,s |
predecessor He was born in 1850 in san IA
cinto Tex, the son OF poor miller He had 20
WORK hard for his meagre high school education
and ne Is not lawyer grown into the railroad
business
ny boFett began his railroad career in
Ateral sense right at the groand In fart his |
trst employment away from home was with a |
talroao that was being built when he was |
fourteen. He wanted some money 20 finish hts |
education. and Joined the construction crew or |
the Houston. East & West Texas Railway ana |
WAS SET 10 work digging stumps from the right |
OF way He stuck 90 IL and soon was r,,nninoAa |
seiaper Mr. Grasse, the contractor. liked the |
spnntsiers grit and put lhm in charge 20 /
si'aA Store IN the new town OF Shepherd. While !
- ne studied nights. and in a few months /
went 70 Houston TO school When his sa,,,n /
gave out he returned 20 shephera ana ,,,sr,.es
another year In tie store az Eugene c,,,.t
Aflen came his rein 10, 81