New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-06-25
DECISION HELPS STOCKS
Advance All Along Line, Notably
in Pacific Railroads.

TIE decision in the Hartman merger
case. reports Of which reached number Of
the Stock Exchange houses yesterday be-
for the opening. sent Union Pacific and
Southern Pacific up 10 new high records
for the current year the former going up
ga. points TO 1884,. and the latter Sas points
70 1898 The general effect was 10 produce
a decided advance all along the line. such
as is rarely seen at a short session. Total
transactions for the two-hour session We're
37j O3O shares. against 2os,o46 shares on Fri
day and 2l2 sos shares on the corresponding
day year ago. comparing favorably with
the day after the American Tobacco de-
Cision was rendered.
At the opening Union Pacific showed an
advance OF only - OF a point over Fridays
close. but the close left II only "a OF a
point short Of the days record. a net gain
of Sl9 points Southern Pacifcs gain was
the same. the close being al 123ss. only II
OF a point below the high. Great North
ern. another Of the lines named in the
original suit. gained 2l2 points over Fri
days close. opening at 1874 and going TO
139 It's net gain was half a point less
Northern Pacific and Atchison also gained
noticeably the former closing at Ia points
over Friday and the latter at lis points
ST. Paul and Chicago & Northwestern each
showed a net advance OF "a. points
The decision relieved the fears OF many
| investors that one OF the largest railroad
combinations in the world might be dis
solved and dividends affected accordingly.
and also gave rise 10 the hope that other
combinations might be expected in the
terday was done by commission houses
and the view was often expressed that II
II had not been a short session and II
fewer Of the brokers and operators had
been away from the city the activity would
have been much greater and the advances
perhaps larger.
The government suit TO dissolve the
! Union Pacific system was begun on Febru-
airy .. 1908. in the United States Circuit
Court in Salt Lake City. The defendants
named. besides the Union Pacific Railroad
Company, were the oregon Short Line
! Railroad Company. the oregon Railroad
and Navigation Company. the San Pedro,
| Los Angeles & Salt Lake Railroad Com
/ pany. the Atchison, Topeka & Santa Fe
| Railway Company, the Southern Pacific
| Company the Northern Pacific Railway
Company. the Great Northern Railway
/ Company. the Farmers Loan and Trust
Company of New York City. the late Ed
ward H. Hartman. Jacob II. Schif. otto
! II Kahn. James Stillman, the late Henry
y Rogers. Henry c. Frick and William
A Clark
/ In It's bill OF equity the government
/ sought 10 set aside the control by the
Union Pacific and its subsidiary corpora
tions Of the Southern Pacific and Of the
/ Gan Pedro. Los Angeles & Salt Lake Rail
/ road. also 10 have declared Illegal the own
arshin Of stock in the Atchison. Topeka
! Santa Fe Railway and the Great Northern
and Northern Pacific railways
The governments petition was signed by
! Charles J. Bonaparte then Attorney Cen
eral of the United States. and his special
assistants. II set forth in detail the agree
rnents Nv which the defendants were al
| l.qed 10 nave secured for themselves ana
otbers the management and control Of the
various roads and steamship lines and 10
have operated them In restraint or COM
,,,orco L,x-.Judg- Lovett. the successor OF
NJ Hartman as head OF the Union Pa
inc system. was made defendant by
stipulation
The governments suit was based largely
on testimony given before the Interstate
commerce Commission at hearings which
h.ga, on January (. 1867, and were held IN
,,a greater part OF that year. the commits
s,or string AT New York. Chicago, san
Eranc,sco and Seattle. Among the wit
,ossee were Otto II. Kahn. OF kuhn' Loeo
p "a =. II Hartman. then president OF
the Union Pacific and Southern Pacific
Alexander Millar. secretary oil Do'h com
nanies. ] G. stubbs. traffic director Of the
Hartman system julius Kruitschnitt. d.
rector Of maintenance and operation; +. r
Ripiey. president OF the Atchison' Topeka
! 4 santa re: =. T. Jeffery' president oil the
nepver & Rio Grande and the Western
p,citic. ex-senator william a. clark
resident Of the San Pedro. Los Angeles n
! sst Lake. and many traffic oficiHis' One lhe
/ case was argued last OctoDci ~ -. ~"
/ heforo the United States thcult our
! LAWYERS here considered the opinion VI ~
orcat importance from another pom, "a
/ -,ew as il affirmed the Legality Of nold-
inc comuanv. which. I'm the Nortne'n So
/ rnrities case. was declared uhia"iu"