New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-08-17
j. P. DROPS TO 167 IS
First Official Denial That Mrs.
Hartman Is Selling.
SEVERAL RUM0RS CURRENT
Many Say Dissatisfied Directors
Have Caused Fall of 25 Points
Friction in Board Denied.

e,-.her decline Of nearly Eve points
q, rrn,on Pacific 70 the low point OF 1903
s,ourh. out fresh crop OF runors aoou'
a.. nroperty yesterday. None OF the
,,,,,or, 70 well authenticated. but in view
:, . A-on Of % points IN the price OF
che stock since July o. they are al III
tsrssting. The report that had most cur.
FANCY IN Wall Street yesterday was tha'
Mrs. Hartman was selling n large oiooN
q. her holdings. The rumor was not en-
..reiy new. bu; Il was not until yesterday
that 1, received an official denial
Judge Robert 8 Lovett. president or the
y-rion Pacific. and Charles a. PEABODY
bo,h Of whom We're executors OF t. "a
Esrriman's will. came out yesterday win
6enials of selling by Mrs. Hartman. Nj .
J5arriman is twenty-five miles from ran
rosd on q ranch. in Idaho. The omciai
6e,ial Yesterday was prec!pitated oy uls-
,otcbes from San Francisco saying thaI
:. n,ss believed there that Mrs. Hartman
vs. n heavy seller OF the stock.
Resides the Official denial from Judge
yoyett and Mr.. Peabody. there was an
80 denial Of the report from source
.sot while not Official Is very close to Mrs.
hartman. II was said by this man that
Ms Hartman would consider II httie
.bor; Of sacrilege 10 sell any OF her
f-nion Pacific holdings. She consiaeIs
.ha, the property was built up by her hus-
I'D and Il IS her duty 10 his memory 70
zen the Hartman interests intact
Otber reports that seem TO have strong
49, nr,r,a facie evidence Of truth are that
,hare Is heavy selling by inside interests
>, account Of disagreements among the
hoard Of directors In regard TO the man
.os-,ent Of the property. Going with TINS
"a The Dersistent TumOr that although the
-o-r,arv earned almost Il per cent on the
,or,r,on stock for the last fiscal year the
1i,4end is 10 be cut below the 10 per cent
49, at the next quarterly meeting II
,..,,s nrettv we'll established that there
- haen heavy liquidation in Union Pacific
o., inside sources during the decline, and
frr,berrnore there was no support unul the
bsefnning OF this week. when buying
,-os-s were placed by interests animated
with the company.
:, % believed that II. c. Prick got out
~ the greater part Of his holdings OF
t-r,or Pacific IN the two months between
,ls time when he resigned from the ooaro
~ directors and the making public OF MS
,.spnation Mr. Frick thus got 1ut before
y ,bs decline. 10 is also generally accepted
y. true that the real reason for Mr. Frick S
,ssrnst.on was difference of opinion
VIII some Of the other directors over ques-
lions Of policy.
wr Frick advocate segregation or th9
,,rnsnv's railroad properties from the Sc
e.rsr,, holdings. and his inability 10 con-
vince some Of the other directors OF the
,dvisabilitv Of this plan is believed to have
b.s7 the actual moving cause I'm his res
,r-sr,on. though there we're other points
q, which he differed with the board.
# Is believed that Mr. Frick is not the
,nlv dissatisfied director. and d large part
n he recent selling Is credited to anotner
,i-.ctor. who is said 70 have got rld OF
nearly ell his holdings Of Union PACING
stock. All these rUmors are ott1ciaily de-
rad. and il Is especially denied That there
"a any friction in the board, but the oehef
q the Street Is that the selling is OF sucn
z character that it cannot be ascrioed 10
bear raid only.