, 1881-06-11
The Northern Pacific.

PurIApElPHrA.-The true story of hoV-
Mr.. Henry Willard obta,ned contr,l Of the
Northern Pacific railroad, andhow his snit
against the company c,me to be dbind ned,
was told to-day ny a gentleman who Is ia
mlliar With the insid history Of the s.
cret neg ,tiations he tini'e of which so
surprised the railroad world. Cap, am
Ainsworth, an old Pac tc coast man, was
the mutual friend who was chosen to pour
sweet words into the ear Of p. esdent
Billings. He made long ago direct off T
If 500 for til 1t gentleman scommnn stock,
and $50 for preferred, III some 50 OOO,-
600. Mr.. Bill ms spurned the offer, and
ms s,ed that here could be NJ cm ,rom-
rse until all the Law suits were Withdrawn.
He was s ncere, and his action dlsarmeI
his friends, who owned a majority of the
stock of the road. Then Mr.. Willard b.
gan to use little diplomacy, and gradu
ally Mr.. Billings began t1 W AIKEN. He
was surely under great t-mp'aion, and
Mr.. Willard proved an arch htempter- Me
B Hin, "a owned %, 900 shares of stock thaf
he had paid 81 SO for seven years aga
He was offered $50 cash for 1t. Ii Was
also suggested to him that he WAS killing
himself by hard work, and that It was
tine that he should retire from bus hess
and make provisions for the disposal OF
his estate. THIS Argument Wa, potent
one, for Mr.. BlIlin.s Is. suffering from
Brisht's disease and his health IS very
precarious Carl Schurz also used his
power # persuasion On Mr.. Billings, and
at last that gentleman whispering " he
would ne er consent" TO his friends, con-
| sented. A plan of compromise was secret
ly drawn up and agreed to. IL involved
q fair arrangem mt for both sides, and an
entire and complete drsurtion Of Mr. Bill
lings by his friends. The points of agree
ment which were signed by Mr. Willard
! for himself and associst s, and confirmed
by the board, We're
l. The recognition of Mr.. Willard, by
admitting two of his friends to the direct
ory.
| 2. The building of the Cascade division
as soon Us the surveys were compie:ei.
3 That Mr.. Willard shonld cast his vote
and proxies at the September election for
majority of the present board of direct
UTs.
4. That the road from Tacoma 10 Port
land. which IS alieady Completed 10 Hele.
M, should be flushed as suon as poss bic.
8, That the suits should be Withdrawn
! by Me- Willard, and no further obstacle,
be D aced TO the issue Of the lS0, CO. shares
of nsw stock
6. That Mr., Billings transfer to Mr.
Willard 80. 900 900 Of stock at $50
Il Is general SAID that there S a p,i
ya-e agreement between Mr. Billings anG
Mr. Willard, by wh.cn the latter vail re
,Ire from III. pre,idency If the road he.
f,re June 10. ana it is thought rhat Mr.
Wizard viii succeed N. The cnmprom
ise and sale of Mr.. Billings' sock give.
Mr. Wizard andispu,ed con -rol OF IN,
roed. vii br seen ths' sMr. BlilIng
sells Nj '-,lIard 5000. .OoO, whseh e,s
hia. $40 90. To get the 'es,, VII eh va
nee ssar + give Nc Viii, ID control. Sir
Billings OF. .:nt 81 .0oo, o,0O # st OK IN III,
MAJ ker, aud to"E rWn frisI Is mo III Sc
| CT I, who su,nisht /, he I'll ct So, coo .OO'
ri. her out IF her holdinys IT hy purcha
SEES IN the n,2-xe. whe he boaEd met
no one knew Of "a, svran. su,rEt or IN,
prop .sed comp7o Or, ant when IT va
ann, .unced, Mr. 2 ius;se1cused hls e,io'
On ths score Of health The acrus
se.se uf the beard an the agreement va
not taken Mr.. Willard had ntrol G
rad, and there vas nothing 10 do bu' q
agree TO what Vas inevitable ~ thers
was no oppes ti'n 70 II.