The Penn's Grove record., 1914-03-20
J.. S. EXPRESS CO.
BUSINESS MAY GO
TO WELLS FARGO
Mrs. Hartman Holds Millions in
Stock of Both, and Deal
for Valued Holdings
Is Hinted At.
STOCKS FIRM STRENGTH
ADDS TO TALK OF DEAL
The New Express Rates Have In
creased the Charges on Thous-
ands of Regular Shipments
Throughout the Country.

nrou9nOuI the country
New York.-Although the dissolu-
ton of United States Express Com
pany, will require at least six months
of preliminary work, evidences are
accommodating that the Wells Fargo
Company will take over at least the
major part of the United States Com
pany's business.
No announcement of any plan has
come from any other company, but, in
the face of the announcement of dis
solution, stock of the United States
Company is holding firm, and if no
sale is made Wall street will be mucn
surprised.
Perhaps the strongest reason for
thinking that this will come about is
the fact that Mrs. E. H. Hartman,
who controls about 1902, 800 par
value of the stock of the United
States Company, personally owns
$685. 500 par value of the stock of the
Wells Fargo Company. 1t was the
Hartman and allied interests that put
through the dissolution project, and
If there should be a sale, Hartman
control would be extended to approx
mately 40 per cent. of the Wells Fargo
Company.
mail order houses now owned by the
United States Company are the as
sets likely to be most eagerly sought.
Real estate now owned at terminal
points would figure Importantly in any
sale, and the territory now covered
by the Wells Fargo Company would
join nor neatly with United States
territory than that of almost any other
company.
The further fact that the United
States Company is the only one that
has taken action even tending toward
withdrawal from business heightens
the belief that there will be a sale
rather than an actual winding up of
it's business.
The contract with the Chicago, Mil
waukee and st. Paul Railroad was
one of the most valuable ever held by
the United States Express and it is
only a short time since the business
of that road was taken over by the
Wells Fargo Co.
Nobody in Wall street believes that
the United States Government has
driven the United States Express
Company out Of business.
The Hartman estate is the domin-
ating financial power in the United
States Express Company.
The Hartman estate is also the
dominating financial power in the
Wells Fargo Express Company.
The United States Express Com
pany is going into liquidation on the
pretext that the new rates fixed by
the Interstate Commerce Commission,
following the competition of the par
eel post, make it impossible for the
company to carry on its business.
While the express companies claim
that the express rates were reduced
February first, a comparison of the
new rates with the old rates, shows
that the new rates have in many cases
resulted in an increase of fifty per cent.
In the rate per hundred pounds and
the new rates per hundred pounds
has resulted in an increase of from
ten to forty per cent. on thousands
OF regular shipments that make up the
bulk of the express business.
The Wells Fargo Express Company
however, is still doing business at the
old stand, regardless of reduced rates,
or parcel post competition, or the ex-
actions of State authority.
1t happens that the Wells Fargo
Company has long been a much more
profitable concern than the United
States Express Company. It's capital
stock is $4,000 900, watered up from
$4,000 Since 1894 it has paid as
high as 10 per cent. dividends, exclu.
slve of a 200 per cent. stock dividend.
The United States Express Com
pany has a capital of only $40, 900, 900.
It's dividends have rarely exceeded 6
per cent, and have been as low as
4 per cent. eve in periods of general
prosperity.
The stock of the Wells Fargo Com
pany ran from ssh to 1923 In 1919,
while the stock of the United States
Express Company f~luctuated between
38 and Sc.
The Wells Fargo company controls
nearly three times as much railroad
mileage as the United States Express
Company, and it is plain enough that
II the United States Express Company
were lquidated there would be more
business for the prosperous Wells
Fargo company.
Besides, n express company is
enough for one estate to control.
Why compete?
The facts slash the pathetic picture
that has been painted of an historic
corporation in the process OF being
throttled by a remorseless govern
ment. And, unfortunately, the reasons
given by the officers Of the United
States Express Company for the pro-
posed liquidation do not square with
truth and common sense