rocket domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/deborah1/public_html/wp-includes/functions.php on line 61141883<\/strong> 1887<\/strong> 1890<\/strong> April 6, 1892<\/strong> May 2, 1892<\/strong> Dec 2, 1892<\/strong> April 5, 1893<\/strong> June 21, 1893<\/strong> June 27, 1893<\/strong> June-Aug 1893<\/strong> June-Dec 1893<\/strong> July 13, 1893<\/strong> Aug 1893<\/strong> Sept 1893<\/strong> Oct 13, 1893<\/strong> Dec 7, 1893<\/strong> Jan 9, 1894<\/strong> March 3, 1894<\/strong> March 1894<\/strong> April 1894<\/strong> June 23, 1894<\/strong> June 27, 1894<\/strong> June 28, 1894<\/strong> June 29, 1894<\/strong> July 1-2, 1894<\/strong> July 2, 1894<\/strong> July 2, 1894<\/strong> July 3, 1894<\/strong> July 6, 1894<\/strong> July 11, 1894<\/strong> July 13, 1894<\/strong> July 21, 1894<\/strong> Spring 1895<\/strong> July 16, 1895<\/strong> Aug 1895<\/strong> June 30, 1896<\/strong> June 30, 1896<\/strong> Feb 23, 1897<\/strong> March 5, 1897<\/strong> July 17, 1897<\/strong> Nov 1, 1897<\/strong> Dec 2, 1897<\/strong> May 23, 1898<\/strong> Sept 1898<\/strong> Nov 26, 1898<\/strong> Jan 17, 1899<\/strong> Feb 1, 1899<\/strong> April 6, 1899<\/strong> July 29, 1899<\/strong> Aug 1899<\/strong> Sept 1899<\/strong> Oct 30, 1899<\/strong> Nov 15, 1899<\/strong> Dec 21, 1899<\/strong> Feb 28, 1900<\/strong> March 1900<\/strong> April 1900<\/strong> June 1900<\/strong> Aug 13, 1900<\/strong> Sept 1900<\/strong> Oct 1900<\/strong> Nov 1900<\/strong> Dec 1900<\/strong> Jan 21, 1901<\/strong> Feb 1901<\/strong> April 1901<\/strong> April 1902<\/strong> Sept 9, 1909<\/strong>
\nHarriman joined the Illinois Central’s board of directors when Stuyvesant Fish became Vice President.[1]<\/a><\/p>\n
\nHarriman became Vice-President of the Illinois Central when Stuyvesant Fish became President.[2]<\/a><\/p>\n
\nCP Huntington maneuvered, with the help of Hopkins interests and acquiescence of Crocker interests, to have himself elected President of SPCo in place of Leland Stanford, who had been President of SPCo since its founding in 1884. At the meeting Charles F (Fred) Crocker elected 1st<\/sup> VP; AN Towne, the General Manager, elected 2nd<\/sup> VP; and JC Stubbs, the Traffic Manager, elected 3rd<\/sup> VP, with all being made directors of SPCo as well. CP Huntington corresponded with all three regularly, but viewed Charles F Crocker as weak, while Crocker had his own complaints about CP Huntington. Another important SPCo official that CP Huntington relied on in San Francisco was WH Mills, head of the SP land company and a nephew of Mark Hopkins.[3]<\/a><\/p>\n
\nSPCo board appointed HE Huntington as First Assistant to the President, and representing the President in San Francisco in his absence. At that time the family representatives in the SPCo management were as follows: CP Huntington (of course) representing the Huntington interests; Leland Stanford representing the Stanford interests; Charles F Crocker (eldest son of Charles Crocker who had died in 1888) representing the Crocker interests; and Edward T. Searles, second husband of Mark Hopkins\u2019 widow representing the Hopkins\/Searles interests, Mark Hopkins having died in 1878 and his widow died in 1891 \u2013 the Hopkins\/Searles interests actually controlled by New York lawyers (General) Thomas H. Hubbard and Thomas E. Stillman who were friendly to CP Huntington.[4]<\/a><\/p>\n
\nCP Huntington purchased (in his wife, Arabella\u2019s name) the San Francisco Nob Hill mansion formerly the property of David Colton.[5]<\/a><\/p>\n
\nJay Gould died, leaving George Gould as head of the family and the Union Pacific effectively without leadership. Sidney Dillon had died in June and Bishop John Sharp (very much a part of the Union Pacific leadership and representative of the interests of Brigham Young and the Mormon Church) had died the previous December. S. H. H. Clark had taken over as president when Dillon died, but Clark was a Gould man and when Gould died, Clark lost his influence against the bankers and the government in the fight over repaying the floating debt and the government bonds. (Klein, pp. 645-652)[6]<\/strong><\/a><\/em><\/p>\n
\nSPCo Board of Directors and Officers elected this date:
\nDirectors \u2013
\n<\/em>CP Huntington, New York
\nEH Pardee, New York
\nThomas H Hubbard, New York
\nLeland Stanford, San Francisco
\nCharles F Crocker, San Francisco
\nAN Towne, San Francisco
\nJC Stubbs, San Francisco
\nNT Smith, San Francisco
\nST Gage, San Francisco
\nHE Huntington, San Francisco
\nGeorge Crocker, San Francisco
\nExecutive Committee<\/em>
\nLeland Stanford, Chairman; CP Huntington; CF Crocker; TH Hubbard
\nOfficers \u2013
\n<\/em>CP Huntington, President, New York
\nCharles F Crocker, 1st<\/sup> VP, San Francisco
\nAN Towne, 2nd<\/sup> VP, San Francisco
\nJC Stubbs, 3rd<\/sup> VP, San Francisco
\nEH Pardee, 4th<\/sup> VP, New York
\nIE Gates, acting VP and Asst Secretary, New York
\nHE Huntington, 1st<\/sup> Assistant to the President, San Francisco
\nWilliam Mahl, 2nd<\/sup> Assistant to the President, New York
\nGL Lansing, Secretary and Comptroller, San Francisco
\nNT Smith, Treasurer, San Francisco
\nRichard Gray, General Traffic Manager, San Francisco
\nE Hawley, Assistant General Traffic Manager, New York
\nAN Towne, General Manager, Pacific System, San Francisco
\nJA Fillmore, General Superintendent, Pacific Lines, San Francisco
\nAC Hutchinson, President, Atlantic Lines, New Orleans
\nJ Krutschnitt (sic), General Manager, Atlantic System, Houston.[7]<\/a><\/p>\n
\nDeath of Leland Stanford.[8]<\/a><\/p>\n
\nNew York stock market collapses, resulting in 4-year depression.[9]<\/a><\/p>\n
\nJane Stanford wanted cash to settle Leland Stanford\u2019s estate and bequests. She refused to sign any notes for SPCo or to use her portion of SPCo\u2019s securities as collateral for essential loans, as did CF Crocker.[10]<\/a><\/p>\n
\nCP Huntington negotiating a line of credit with Speyer & Co for $5-10 million – with good collateral, 6% interest, and commission – to see SPCo through the depression. In 1893-94 many banks closed and many railroads went into receivership, including the Union Pacific, Northern Pacific, and Santa Fe. SPCo came close to failing in 1893, but managed to avoid it. HE Huntington\u2019s brother, Willard Huntington, who had been an official with SPCo in San Francisco for some time, also lost his salary at this time.[11]<\/a><\/p>\n
\nCF Crocker resigned as President of Pacific Improvement Co, and HE Huntington elected President in his place. Pacific Improvement Co held the securities that represented the major wealth of the four associate families and their ownership of SPCo.[12]<\/a><\/p>\n
\nHE Huntington elected a director of Wells Fargo & Co.[13]<\/a><\/p>\n
\nHE Huntington engineered a major consolidation of San Francisco street railways, combining control and management of the City\u2019s largest system, SPCo owned Market Street Railway, with the next largest one, the Powell Street system, with HE Huntington in control.[14]<\/a><\/p>\n
\nThe bondholders and the federal government forced Union Pacific into receivership. The government construction bonds issued between 1865 and 1869 were due and the railroad still owed $11.8 million of the original $18.8 million. Fred Ames died on September 12. He was the last of the directors that had been fighting receivership. (Klein, pp. 657, 658)<\/em> The receivership also included the Echo & Park City Railway, which Union Pacific had controlled since July 1, 1881. (44 Val Rep 193)[15]<\/strong><\/a><\/em><\/p>\n
\nElection of new President of Central Pacific to replace the late Leland Stanford. CF Crocker, 1st<\/sup> VP, declined and suggested HE Huntington, who was elected President.[16]<\/a><\/p>\n
\nCF Crocker announced to CP Huntington by letter that the principal owners of the CP (and SPCo?) needed to discontinue their active business association and make a financial settlement among themselves.[17]<\/a><\/p>\n
\nThe foreign stockholders of CPRR strenuously objected to SPCo dictating policy to CPRR, through the London office of Speyer & Co. Speyer & Co also expressed serious doubt about the financial strength of both CPRR and SPCo, and CP Huntington\u2019s personal financial situation, and declined to handle any more securities under the current situation.[18]<\/a><\/p>\n
\nHE Huntington resigned as President of CPRR, and both he and CF Crocker resigned as directors of CPRR. Isaac Requa, head of the Oakland Bank of Savings, elected to succeed HE Huntington as director and President.[19]<\/a><\/p>\n
\nRepresentatives of the four principal owning families met in San Francisco and agreed to work together and sign notes for financial support of the SPCo, greatly improving the view in New York financial and securities circles.[20]<\/a><\/p>\n
\nStrike of the American Railway Union (ARU) against the Pullman Company began in Chicago. Part of the strike was for ARU members on various railroads not to handle any Pullman cars.[21]<\/a><\/p>\n
\nStrike reached San Francisco on June 27. HE Huntington sent CP Huntington a telegram urging \u201ca fight to the finish.\u201d CP Huntington sent AN Towne a hard-line telegram directing that all employees who refused to take out trains should be fired, and told they would never be hired again.[22]<\/a><\/p>\n
\nARU ordered a general strike against SPCo.[23]<\/a><\/p>\n
\nHE Huntington wrote a 3,000 work essay putting the SPCo case before the public, published in many newspapers. It took a very narrow view of SPCos\u2019 public responsibility and was not well received.[24]<\/a><\/p>\n
\nTroops (State Militia?) called out. Riots July 2-3.[25]<\/a><\/p>\n
\nSecond HE Huntington letter, 1800 words, published in many papers. Again poorly received. The Oakland Times<\/em>, for instance, observed that \u201cThe railroads are taking exactly the same pernicious and destructive principle which they denounce as so unjust.\u201d[26]<\/a><\/p>\n
\nHE Huntington sent a telegram to CP Huntington urging him not to send any more conciliatory messages to AN Towne. He reported he was working hard to keep General Manager Towne and General Superintendent JA Fillmore backing down and giving any concessions at all to striking employees.[27]<\/a> Of course, Towne and Fillmore only were doing the same thing they had done in the past that had successfully kept major strikes from happing on the SPCo.<\/p>\n
\nHE Huntington reported to CP Huntington that a mob of 1500-2000 people had broken into the SP yards in Sacramento, captured a train, and switched cars around. The National Guard (State Militia?)was ordered out.[28]<\/a><\/p>\n
\nSPCo employeed told to return to work by 4:00 pm or consider themselves terminated.[29]<\/a><\/p>\n
\nA train on the Yolo Causway west of Sacramento was intentionally derailed, with 5 people killed (including US Railway Post Office employees in the mail car).[30]<\/a><\/p>\n
\nHE Huntington reported to CP Huntington that a switch engine in Sacramento yards with \u201cregular troops\u201d was stoned and fired on by strikers, with soldiers returning fire, killing 2-3 and capturing 13.[31]<\/a> (Regular Army troops from the San Francisco Presidio had replaced the State Militia in Sacramento which had sympathized with the striker too much.)<\/p>\n
\nHE Huntington reported to CP Huntington that the ARU strike against SPCo was over. He reported that only about 5% of engineers and conductors went on strike against the SPCo.[32]<\/a><\/p>\n
\nA separate receiver is named for the OSL&UN. (Trottman p. 261)[33]<\/strong><\/a><\/em><\/p>\n
\nDeath of AN Towne, long time General Manager and 2nd<\/sup> Vice President of SPCo. (HE Huntington interested in 2nd<\/sup> VP position.)[34]<\/a><\/p>\n
\nJA Fillmore, General Superintendent of SP, appointed 2nd<\/sup> VP of SPCo. Julius Kruttschnitt appointed General Manager of SPCo.[35]<\/a><\/p>\n
\nSPCo Board of Directors and Officers in office as of this date:
\nDirectors \u2013
\n<\/em>CP Huntington, New York
\nThos H Hubbard, New York
\nThos E Stillman, New York
\nChas F Crocker, San Francisco
\nJohn C Stubbs, San Francisco
\nNT Smith, San Francisco
\nHE Huntington, San Francisco
\nRussell J Wilson, San Francisco
\nWH Crocker, San Francisco
\nCG Lathrop, San Francisco
\nAL Tubbs. , San Francisco
\nOfficers \u2013 <\/em>
\nCP Huntington, President, New York
\nCharles F Crocker, 1st<\/sup> VP, San Francisco
\nThomas H Hubbard, 2nd<\/sup> VP, New York
\nJC Stubbs, 3rd<\/sup> VP, San Francisco
\nHE Huntington, 1st<\/sup> Assistant to the President, San Francisco
\nIE Gates, acting VP and Asst Secretary, New York
\nWilliam Mahl, 2nd<\/sup> Asst to the President and Controller, New York
\nJ Kruttschnitt, General Manager, San Francisco
\nEC Wright, Secretary and Assistant Controller, San Francisco
\nCF Krebs, Assistant Secretary, Louisville
\nNT Smith, Treasurer, San Francisco
\nCharles H Tweed, General Counsel, New York
\nRichard Gray, General Traffic Mgr, Pacific System San Francisco
\nE Hawley, Asst General Traffic Mgr, Pacific System, New York
\nJA Fillmore, Manager, Pacific System, San Francisco
\nR Koehler, Manager Line in Oregon, Portland
\nJG Schriever, Gen Traffic Mgr, Atlantic Properties, New Orleans
\nWG VanVleck, Manager, Atlantic Properties, New Orleans.[36]<\/a><\/p>\n
\nCPRR Officers in office as of this date:
\nIsaac Requa, President, San Francisco
\nCP Huntington, 1st<\/sup> VP, New York
\nWilliam H. Mills, 2nd<\/sup> VP, San Francisco
\nIE Gates, 3rd<\/sup> VP, New York
\nWM Thompson, Secretary and Auditor, San Francisco
\nWilliam H. Mills, Treasurer, San Francisco
\nWF Herrin, General Solicitor and Chief Counsel, San Francisco
\nWilliam H. Mills, Land Agent, San Francisco[37]<\/a><\/p>\n
\nThe property of old Oregon Short Line & Utah Northern Railway was sold to the new Oregon Short Line Railroad, incorporated for the purpose in Utah on February 1, 1897. On January 9, the receivers had sold the property to the reorganization committee, who then sold it to the OSL. (OSL corporate history)[38]<\/strong><\/a><\/em><\/p>\n
\nThe new OSL took possession of the OSL&UN on March 5, 1897. (OSL corporate history)
\n(Trottman, p. 261, gives date as “early 1897”.)[39]<\/strong><\/a>
\n(The Salt Lake Daily Tribune of March 16, 1897 says that the transfer took place “last night, at midnight”, March 15, 1897.)<\/em><\/p>\n
\nDeath of Charles F (Fred) Crocker, 1st<\/sup> Vice President of SPCo and representative of the Crocker family interests. Also President of the Market Street Ry, with HE Huntington as VP. George Crocker became lead Crocker family representative. (HE Huntington lobbied CP Huntington for the 1st<\/sup> VP position of SPCo.)[40]<\/a><\/p>\n
\nForeclosure sale of Union Pacific Ry in Omaha frees UP from its debt obligations to Federal government. Reorganization put together by Jacob Schiff, of Kuhn, Loeb & Co. New Union Pacific Railroad (UPRR) chartered in Utah, incorporated for the purpose on July 1, 1897. (Utah corporation number 2083)<\/em> The organization of the new Union Pacific had been approved by an act of the Utah Legislature on January 22, 1897. (Poor’s, 1929, p. 1051)<\/em> The new Union Pacific took possession of the old Union Pacific on January 31, 1898. (Trottman, p. 269)<\/em>. Winslow S. Pierce, chief counsel of George Gould, was Chairman of the board; Horace G. Burt from the Chicago & Northwestern was President. EH Harriman was on the board, and a member of the executive committee.[41]<\/a><\/p>\n
\nAt SPCo board meeting General Hubbard (representative of the Hopkins\/Searles interests) became 1st<\/sup> VP of SPCo, and George Crocker became 2nd<\/sup> VP. HE Huntington became President of Market Street Ry. (ie \u2013 HE Huntington lost out on what he wanted, and got what he wasn\u2019t interested in. There was an internal power struggle with the other three owner families feeling they had too little voice in the management of SPCo under CP Huntington, and claiming that HE Huntington ran the company in San Francisco in an arbitrary manner. CP Huntington trying to conciliate others, especially George Crocker.)[42]<\/a><\/p>\n
\nEH Harriman named chairman of the UPRR executive committee.[43]<\/a><\/p>\n
\nUnion Pacific control of the Oregon Short Line cemented.[44]<\/a><\/p>\n
\nAt suggestion of General Hubbard, CP Huntington asked HE Huntington to resign as President of Pacific Improvement Co so that George Crocker could be appointed to that position.[45]<\/a><\/p>\n
\nHE Huntington resigned as a director of SPCo.[46]<\/a><\/p>\n
\nSettlement between Central Pacific Railroad and US Government for CP to repay bonded indebtedness to Government through 20 promissory notes, to be paid successively every 6 months for ten years.[47]<\/a><\/p>\n
\nHE Huntington resigned as assistant to the President \u201cfor reasons that are quite satisfactory to myself.\u201d[48]<\/a><\/p>\n
\nCentral Pacific Railway incorporated as successor to Central Pacific Railroad as part of reorganization to issue new bonds to secure debt to government.[49]<\/a><\/p>\n
\nHarriman secures agreement with Northern Pacific giving Union Pacific control of Oregon Railroad & Navigation.[50]<\/a><\/p>\n
\nCP Huntington negotiated the buyout of the Crocker and Stanford interests, at a price they gladly accepted, by his investment banker, James Speyer & Company, buyout beginning this month. Purchased was leveraged by debt by SPCo through sale of a bond issue handled by Speyer & Co.[51]<\/a><\/p>\n
\nCP Huntington wrote HE Huntington advising him on the how to handle the transition period, that HE Huntington should give advice to SP departments that they might request, and saying that once the Crockers and Stanfords were out that he (CPH) and (General) Hubbard \u201cwould work in perfect harmony.\u201d[52]<\/a><\/p>\n
\nCP Huntington wrote HE Huntington saying that Speyer & Co wanted the SPCo board composed mostly of (their) people in the East, to have a new person as 1st<\/sup> VP in San Francisco, and for HE Huntington to be assistant to the President (again). HE Huntington wired CP Huntington in response that with his experience he could not accept the position offered, that with some other 1st<\/sup> VP in San Francisco there would be no use in his remaining there, and suggesting that (under those conditions) he be left out of the question entirely.[53]<\/a><\/p>\n
\nHE Huntington and Julius Kruttschnitt ordered to leave San Francisco for New York for consultations.<\/p>\n
\nGeorge Crocker officially resigned as 2nd<\/sup> Vice President of SPCo, although he had been gone since around the previous October (thus some of the confusion and uncertainty in the San Francisco office prompting correspondence between CP Huntionton and HE Huntington mentioned above).[54]<\/a><\/p>\n
\nCP Huntington comes to San Francisco by private train. HE Huntington also returns in his own car in the same train, and resumed work with SPCo.[55]<\/a><\/p>\n
\nAt SPCo board meeting, HE Huntington elected a director, and appointed 2nd<\/sup> VP (filling George Crocker\u2019s place), with General Hubbard (based in New York) remaining as 1st<\/sup> VP. All other directors from California \u2013 Kruttschnitt, Stubbs, and three others \u2013 had to step down to make room for new directors form the East chosen by Speyer.[56]<\/a><\/p>\n
\nCP Huntington and Speyer & Co bought out the Hopkins\/Searles interests and removed General Hubbard, electing HE Huntington as 1st<\/sup> VP of SPCo. Charles H. Tweed, CP Huntington\u2019s New York lawyer and friend, elected 2nd<\/sup> VP.[57]<\/a><\/p>\n
\nDeath of CP Huntington at his camp, Pine Knot, in the Adirondacks.[58]<\/a> HE Huntington went directly to New York.<\/p>\n
\nCP Huntington will, signed March 13, 1897, made public. Arrabella Huntington, Edwin Gates, and Charles Tweed executors. Nearly 2\/3 of SPCo stock (and other assets) to wife Arabella Huntington, and 1\/3 of SPCo stock (and other assets) to nephew HE Huntington.[59]<\/a><\/p>\n
\nSPCo Presidential selection committee consisted of Charles H Tweed, DO Mills, and James Speyer. Charles H Tweed selected as Chairman of SPCo. Charles M Hayes, then general manager of the Grand Trunk Ry of Canada, selected as President at the insistence of Sir James Rivers Wilson of London, a leading foreign investor in Speyer\u2019s activities.[60]<\/a><\/p>\n
\nHE Huntington returned to San Francisco from New York, where he had largely been since August handling matters. Resumed SPCo duties. Briefly returned to New York in Dec 1900 for consultations with Tweed and Hayes. Rumors circulating that the Huntington SPCo stock was for sale, with various buyers mentioned, including the Vanderbilts, JP Morgan, Speyer, and EH Harriman.[61]<\/a><\/p>\n
\nEH Harriman started negotiating with James Speyer and Edwin Hawley for the purchase of the Huntington stock.[62]<\/a><\/p>\n
\nArabella Huntington and HE Huntington enter into an agreement to sell their SPCo stock (432,700 shares) for $22 million through Kuhn Loeb & Co, with initial payment in cash for 1\/3 of stock on Feb 11, 1901, and second payment (with 4% interest) for remaining 2\/3 of stock on July 10, 1901. Buyer is HE Harriman\u2019s Union Pacific RR \u2013 Speyer had lost control.[63]<\/a><\/p>\n
\nKuhn, Loeb & Co sold 750,000 shares of SPCo stock, representing 37.5%, to Union Pacific.[64]<\/a><\/p>\n
\nHE Huntington reelected to board of SPCo at EH Harriman\u2019s request, although he did not play an active roll in the management.[65]<\/a><\/p>\n
\nEnding his last substantial investment in San Francisco, HE Huntington sold his stock in the Market Street Ry in the fall of 1901 to a Baltimore syndicate, the deal consummated in April 1902.[66]<\/a> The syndicate reorganized the company as the United Railways of San Francisco.<\/p>\n