Arizona republican., 1909-09-10


 trolling interest, reorganized the man agement and converted the bankrupt company into one of the Best dividend payers. In its rehabilitation and later. when he took hold of the South ern Pacific, Harrimans policy was one of lavish expenditure that made the properties as near physically perfect as possible. Dividends were allowed to wait in perfection.
 Harriman's most spectacular per- formance was in 1901. when he strug- gled with the Morgan and Hill inter- ests for control of tRe Northern Pa cific. In May of that year the historic Northern Pacific corner resulted in the stock of that company going to 5000. At the showdown Hartman produced s7S.OO0.0OO in stock out of total of s155.O0O.OO0. However, the Hill Morgan people held the whip hand, but Hartman secured a com promise and he and some of his as sociates were elected to the Northern Pacific directorate.
 Hartman made his debut as a rail- road man in 1883, when he became director of the Illinois Central. He was then worth million dollars. He formed a business alliance with Jacob M. Schiff, and his influence in Wall street grew rapidly. In 1894 he at tempted to reorganize Erie and was soundly whipped in the fight with the Morgan interests. UEdaunted, he set about to learn the railroad business in a way to make him master and thus equipped himself for the successful undertaking with the Union Pacific.
 Hartman was born in Hampstead, l.. l.. Feb. 25, 1S4S. the third son of Rev. Orlando Hartman, rector of St Georges Episcopal church. The youth knew no luxuries and worked hard for the little education he received. At 16 he found employment as an errand boy in a brokers office in Wall street He was an astute lad, always looking for a chance to better himself, and in 1870. before he was 23 years old, he had bought a seat on the New York stock exchange and paid for it with S20, 1000 he made in speculation. He learned his elementary lessons in fi- nance in the school of Jim Fisk. Jay Gould and Commodore Vanderbilt, and emerged broker on his own account, devoid of sentiment in business. This was shown when he busted from the of the Illinois Central Stuy- vesant Fish. a man who probably had done as much to help Hartman as any other now living and who had years before made him vice president of the road
 When the insurance scandals of 1905 broke out Hartman was director of the Equitable Life, of which his friend. James Hagen Hyde. owned a control- ling stock interest. Hartman was Hyde's closest adviser in the fight to displace Hyde and many have said the result might have been different had Hyde not turned upon Hartman and charged him with being an enemy in the guise of friend When Thomas F. Ryan turned up a couple of months later as owner of the Equitable. Har- riman said he was disappointed and admitted before the Armstrong irAes- tigation committee that he had ex petced to buy 1t for himself.
 Outside of his business Hartman found time. or cared for. little but his family and as a single hobby the building of a great estate. The meta morphosis Of his place at Arden from rocky country forest into kings park and palace Is well known. The work is still unfinished.
 MT. Hartman married Miss Mary Averill of Rochester. Five children were born, three girls and two boys. The eldest daughter is the wife of Robert L. Gerry. son of Commodore Eldridge T. Gerry. The secord daugh- ter is Mary, the third Carola. The eldest son, Walter Averill, is just out of college and Is learning the railroad business. The youngest. Roland. is IA years old and still in school