New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-09-22
THE NORTHERN PACIFIC.

AR FAHNESTOCK's COMMENTS ON The MI ' ~
TIE GERMAN BANKERS ON THE ROAD
Statements having been recently pubnsneu
"a the effect that the financial emDarraSSne "a Wv
Northern Pacific Railroad originated 10 an Au'oi'0 10
-, 81 . commission OF German bankers, who person
ally inspected the lineand the resources oi 'ne
pacific 10 determine whether TO subscribe 10 us bonus
r.r,rter Of THE TRIBUNE called last evening
a q Fahnestock executive head OF the New
yort house OF jay Cooke & Co.. at his residence Oh
adsopave to learn from him the facts connected "u
,bo visit of the commission and It's report MI
FahnestOck said; -. .o
why that matter was dead and buried years aSO'
what the use OF exhuming it az this juncturt y,
II IL represented 10 have been the real beghnnf 20
The Northern Pacific troubles, ana Ina, time
aogether interesting and important az thls li'' nA
Tl tell YOU the whole history OF the anaIa' rears
then You'll see what II amounts TO- Ihree ", 20 intro
sgOod Vs Nptbern Pacinc loan into Vienna where mo
American railroad bonds hau Doe Zen the Union
bad nearly completed neg n9gO's' certain amOnntone
million or So believe EyeTythnE va" Wa PhsDt learned
NoIaDlS ,S sonrce that the Northern Paelnc was 70
s,n through an reRon that the onss W lands
M ,"Ss - conseouept redemption OF IT'S DOnus
n 9u renresentatiye IA the business then sue,
sted mai instead Of trusting TO vague reports am
kesseI ma INCARNATION the Union Bank should send
er ri he expense of the Northern Pacific COMPANY,
IN agent or commissioner 10 InsAo p su about It's
Of the enterprise and ma OUT al renort
climate and prospects ,or GPo' The idea was
nc, ,.SJr.hIv Teceiyed and a party Of five was made
up 10 visit the line and inspect the cond5Oh OF Of
the road Mr.. Fotz representing nS oV trector of
Vienna Herr Haas OF Berlin, government ulleO0SL ~
the Prssian railways and newspaper CORRESPONDENTS
Dontex) from Frankfort, were the only n1ep % sn
Ssr They landed in this country IN que
iime aud the first controversy ~hien ,SbIcS
Nas between Foz and Haas, as 10 "Lcn
vyas the chief OF the party, ana so strenuous was
the dispute that neither spoke TO tue other duIs w
entre nm The company jourueyed together as lat as
ne Red yer where Haas left the Others and went on
Ss own account 10 the Pacific Coast, stopping al san
Francisco and never visiting the western terminus anu
ths Pnect Sound possessions Of the Northern
Pacific Foltz aud the rest Of the party went ho%eVeI
10 Portland, and other points on the western
hey also procured very full data, while IN MnhesoIa
aud further west. upon which TO 3ase Ine &
rage car, near Cleveland, on the way nome ah1
Inc party, reduced to the notes ana Oil 81
their pockets without stopping 70 repair their losses Dy
die fire returned 70 Europe, whittier Hass Aau pre-
EVER Dentex came 10 me and offered for small
sun, / think it was $500, 70 make any A i
nf n report which l should want. In que
Sme botb REPORTS were made-that OF Foltz 10 the
non Rank OF Vienna and that OF Haas to the principals
whom he represented IN Berih: foin tS az
great amount OF general and statlstc matter, anu ~
gued that after the completion OF the Vtu, tnIeV
believe. must elapse before tAT saieS IT. 10 ' mrnriSe
would pay the interest on the DOhds, 10 plO.iiuSS
for this prospective deficiency the report recommended
the creation OF a reserve fund OF S5oOJV thOugu MIN
out suggesting how tins amount suoulu DC t . -.
Few minor and entirely technical changes IN the terms
of the mortgage were advised, and that was the ehte
result OF Mr.. FOltz's visit ,,, Al. u.
Haas made a report IN which he concluded that II
roud not expedient invest III the bonds OF the
Northern Pacific for some reasons Whch 90 not now
ecal but at the same time he made rOse-cOlored re-
port upon the Paul and Pacific road, when ne SAD
Wa certain 10 be a splendid success mat ROAD,
sou will remember, went to smash, ana
Eas mt into the hands Of receiver
Eome time since Haas at the time be was here was rue
agent OF the house Of Lpman, Essential Co. OF Am
Eterdam, who were heavily interested In ST. faul ana
Pacific and doubtless regarded their interests safe IN
his gmcnt As "a result OF the reports, the Union
RAM of Vienna declined TO cOnsummate It's suOscrlp-
ton a result which was, on the whole, entirely
satisfactory TO Us, they were determined
on having so many conditions, Restrictions,
and prior stipuatiOns that their purchase
of bonds would probably have been OF no advantage 10
us Subsequently both reports were published In Europe
enough Of that am not certain. Tney were sent TO me
aud have them now somewhere, though can't say
whether in print or manuscript / know that two or
down town came 10 me, intimatng that they should
publish the reports unless paid heavily for their
suppression. i invariably declined their proposition,
aud advised them 60 ahead with their publications,
hut they appeared And that is the sum and sub
stance these reports OF the German bankres Of hch
80 much first and last, has been said I've no doubt
whatever that had chosen, could have had any kind
OF report which wanted, either from the entire com
mission from the members singly, had been willing
10 pay enough for IT, have never seen the Northern
Pacific Railroad, and am free TO that have not
Thought very much OF It; hut If am put the re-
aired list here the events OF the last two three days
indicate intend the Northern Pacific for self,
snd 20 adshing in some Of the lakes along Us line