The Marion daily mirror. (Marion, Ohio) 1892-1912, 1909-08-17
Railway Magnate Wants
Those Lines.
A COAST TO COAST LINE
Obtains Option on Controll-
ing Stock.
No Definite Announcement is Ex-
pccted Unhl Hartman Returns
Form Europe -Rumor Says the Van
dcrbiits are Ready to Retire.

New York, Augut IA report
that E. II. Hartman has obtained
an option on controlling interest In
the New York Central lines, which,
II exercised, will give him control of
o through route from the Atlantic to
the Pacific ocean, was circulated on
the stock exchange today. Such
route has been the dream of rail-
road men for years. The option,
taken by Mr.. Hartman Is said TO
cover about $4,000, 900 worth of New
York Central stock, q large part of
which was formerly Controlled by
the Vanderbilt interests. The price
at which the stock may be taken
over is said to be $3.50 a share.
II is pointed out that acquisition OF
the New York Central would give
Mr.. Hartman an ocean to ocean
route by way OF New York Central.
Chicago e. Northwestern. Illinois
Central, Union Pacific and Southern
Pacific.
No definite announcement is ex-
pected from Mr.. Hartman until his
return from Europe early next
month.
The New York Central system in
cludes the Lake Shore. Big Four and
Nickel Plate roads.
The belief is gaining ground in
quarters where opinion on such mat
ters is entitled to carry weight that
the Vanderbilts will retire shortly
from the active management OF the
Central and be replaced by repre-
sentatives of a practically controll-
ing interest in the treasury of the
Union Pacific.
Should the pending developments
take such final shape as has been de-
scribed, II will be through an entirely
amicable ARA lgement between w.
X. Vanderbilt and Hartman, and
will meet with less opposition from
| the old regime than did the entrance
| of Mr.. Hartman into the New York
Central board of directors. It is
confidently asserted, though as yet
without substantiation, that the op.
ton on large block of Central
stock which the Union Pacific is gen
| orally reported TO hold Is none 9TH
er than that of the Vanderbilt fam
| lily.
In any such transaction It may be
expected that due recognition will bs
accorded to the potential value of the
|
agement of an aggressive and finan'
clally powerful interest. 1t Is not u
he supposed, of course, that the Van
| Gerbilts would be willing to part with
their holdings on n basis of. present
| market prices, especially In view o.
| the great improvement In operating
| results which the recrganized New
York Central management has
brought about during the past twelv,
| months and the outlook for generally
| prosperous conditions in this coun'
try for an indefinite time to come
Discussion of definite terms by 9TH
ers than the parties directly con
cerned has naturally not progressed
beyond the stage OF talk, but amont
the suggestions Is the one that New
York Central stockholders Will be OF
fered a per cent bond, secured by
the stock as collateral. An offer o
the sort need not be expected unless
or until the Union Pacific has mad'
sure of the outcome by the purchase
in the market or privately of enough
Central stock, In addition to Its $14.
100000 already owned. to make III
practical control.
If, MS Is generally believed, th'
Union Pacific has been investing th'
proceeds of its recent sales of treas
ury securities In New York Central
1t has been in a position to run IL
holdings of that stock mp to some
thing like sec, 100000 par value, with
out incurring any indebtedness ant
without impairlng its working re
sources in the least. Absolute vot
ing control of the New York Central
as its capital now stands, woul
mean about s90,000,0o0 of stock a
| mar. lv ~