, 1881-03-23
NEW YORK.
Financial Circles Excited by
the Struggle in North
ern Pacific.
The Fight Practically q Brittle
Between Tacoma and
Portland.
II Willard Captures the Road, It
Means Portland for the West
ern Terminus,
Billings Action in Tapping His
Water-1'ank Criticised in
All Quarters.
No Possibility, However, Of Say
ing that the Willard Pool
Is Defeated.
Its Members Declare that They Can
Buy All They Wish Of the Now
Famous Residue"
ncasons Why Tacoma Was Selected by
tho Present Management OK
tho llonl.
Gen. Grant sturts for Mexico Next Mon
day-His Views on In E1-
tra Session.
Its Members Declare that They Can
Buy All They Wish Of the Now
Famous Residue"
ncasons Why Tacoma Was Selected by
The Present Management OF
tho Road.
Gen, Grant Starts for Mexico Next Mon
day-His Views on In E1-
ira Session.
NORTHERN PACIFIC.

No4k IL li1LN l-AI2l 1Ss
AT LAST.
Spttial Ditpatth to The Chicago Tribune.
New Youx, Alnrch .:,.-Tho press If Now
York has 1T lust found out that thcrc IA sofnc~
thing tho matter with tho Northern 1'Mci1c
management. After tho publication or tho
{act og the purchnan Of 600 stock by Nr.
Henry Willard in THE CHICAtlO Tribune. aud
tho stntelncnt, bnsed on recent occurrences,
TINT tho Oregon 1tailway & Navigation Company,
Of which Niilnrd is President had virt,i-
nlly secured control Of tho road. md would
unn,lesttonnbly bounce tho present Nnrthcrn
Pacific UIlIcprs ut thu next annual meeting. they
enlpavoreh to ignore tho situation by treating
Il with silence, or cse lightly touching Upon tho
report ns IN ImprtbAbI!lty TINT needed no fur-
.ther comment. TnE Tn1nuNE. however. hnd
taken tho wind from thor sRs In Il matter TINT
lny right undur their ns'ses, nnd they hndn't tho
enterprise to find mt, and consequently tho
story Of tho "provlncinl press" wis other
sNEEl,ED At Az SENSATIONAL
or unccrcInol,;ousy snutEed out, hccause to
notlce Il they must take 1t seconG- hand. Tho
reports OF tho action Of tho Vii1nrl RyndfcHtc
bud Tho effect to materially strengthen tho
stocks of tho Northern Pacific. for 1t WIS
generally understood TINT tho Willard syndf-
cato intended to develop tho road. some
questioned tho truth of tho syndicate's claim as
to its having secured control 0f tho Northern
pncthc. and thnro we're predictions Of PEoba-
bic light by tho present management, lod by
President Frederick Killings, for 4 continuance
OF power. There Is nat tho slightest question
but thRt tho V!iartl syndicate, as stated In THE
Tn1uuNE dispatches ten days ago, secured COIL
trul Gf i,UQ0 COO OF tho $7SUo0,o0 at stock. Mr.
billings, tho President Of tho Northern Pacific
Company, being loft with sd,0o0,00o.
IN ACCORDANCE WITH THE rE1sNs OF 1sE-
ORGANISATIONS,
tho capIta1 stock Of tho rnNt wns placed Mt
mn Nh H,.1,+ 1+1tN :
fcrrctl stock lt,l $4D QUO OF common All tho
preferred stock was issnod. and about Ooo
Of It cancelled by oxchunge Mt pnr for tho Con-
pany's lands. OF tho $40 100000 OF c0m-
mon stock s3t,O0o,0o0 wAs put niinat. and
tho rernuininR $la.DUl000 hhs lain unjsaucd
IN tho trcnHury. II is this $1B, GOO coo which Inns
now been lss,sc'l aud placed upon tho mnrkct,
depressing prices. Tho manner In which this
stock wns ISSUED was rather strange, having
been accomplished by authorization OF tho
Executive Connttcc Of tho linnrtl OF Directors,
instead Of by tho full Hourd Whatovcr tnny bn
nald in Justification Ut tho distribution itself,
It cannot DO denied TINT tho ma1,-
criticism Il WIS uu important matter fl the nf.
fu,rs Of tho f.ompany, and should huys bpep de-
l,bo-atoly considered by nil Interested, fnsteuti
NJ heinr anr,,n,. lkn n trn, ,1non not on1y tho
public. Tut these fairly entitled to know evory-
sh,x ,. ~, .,ua,. ~ - r.,r,on.,
" w. wAI;' sTnrr.r ~
---- "te'',' 't"1.'. \.
vas. OF course cot'sdefao'y c1cte' "'er tne
distribution, MD soulo operators 80" III u tno
hrst 'nove VI the Killings rafty aealnst mo w
lnea pno!. Sir. bnfnueI HH"eson' secretary CT
tho Northern 1'ncltic ltat]roAd. In ePenklnK to.
night uptn this point, sntd: "Thfs i9sho NJ the
ls0,UD aharcs Of common stock was na0.ao
bccause It could not be nvndeA. Tho
stnck WIS tho property OF bondhoders OF
tho Old Northern racii'c. Iii its tsnlssuca stato