Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1881-03-04
Not Confirmed.

Ii SectuS tudt tuS oiopatShCo Az
nouncing that the control OF the
Northern Pacific Railroad had
passed to the Oregon Railway and
Navigation Co. by the purchase of
$4,000, 900 of stock, has not been
confrne by later reports, and
although the Oregonidn announced
on the surest authority that a
scheme for the this object had been
carried through to success, very few
people place any confidence in the
statement. They appear to view the
matter precisely as the n. Y. Post
did, when it stated that, if the re-
port be true, the tail would here
after waggle the dog, an absurd
proceeding which no well-regulated
canine would for moment permit.
The Tacoma Ledger, which should
possess some means for forming an
intelligent opinion, discredits the
story, and shows the absur'ity of
a monopoly, backed by a city of
10000 people, effectually blocking a
great national highway, chartered
by Congress to furnish means of
transportation by the natural outlet
of the produce of the great inte-
rior. 1t affirms that Mr.. Willard,
desires to withdraw from the Ore
egon Company, and several months
ago announced his intention to do
so sometime in April. If this is
true, it affords an explanation of a
bold attempt at bulling" the mar
ket to unload. The vigor displayed
in the management of the company
and the extension of its lines, in this
event, may only be regarded as an
expenditure of reserve force to ac-
complish that object. Under this
stimulus $4,000, 900 of stock, based
upon property scarcely aggregating
$4,000, 900 in value, and burdened
with mortgage of $4,000, 900, has
been advanced 10 the absurd pre-
MUM of 76, and it only required a
bold dash to place it at figures which,
to the most obtuse speculator would
indicate the wisdom of speedy sale.
In other words, by. systematic
policy of imitation, the property of
the corporation which Mr.. Willard
represents may, for brief period,
have become too valuable to keep.
The Ledger continues: 1t is true
that there has been much activity in
Northern Pacific shares, and some
stock has changed hands, but that
was necessary to MIR. Wizards plans.
We say that even if this were bona
.,ide attempt on the part of Mr.. Viii
lard and his friends to acquire con-
troll of the Northern Pacific, that it
would be impossible for him to know
that he had succeeded until the Sep
TENDER election, eight months hence,
and that if there is any man in the
country llikely to know where the
control lies, that man is Mr.. Fred
crick Billings, the President of the
Company, and under date of Feb.
23d he states that no transfers of
Northern Pacific stock have been
made indicating change of con-
troll. To secure an amount of stock
which would insure this would neces-
sitato an expenditure of not less than
thirty millions of dollars; and what
we are inquiring is, whether it is
probable that Mr.. Willard could
command that sum of money, who
found it a difficult matter a few
months ago to raise the trife of one
three-hundrcth part of that sum,
with which to pay the first instalment
required in the purchase from the
Oregon Steam Navigation Company
Moreover, in buying the stock nee
essary for control, it could only be
secured, in so short at time, on a
rising market, for the demand in
variably determines the rise, and it
would involve the absolute loss of
from seven to ten millions of dol
lars to make allowance for the reac-
ton in price which would follow
The high water in White river has
= A. q /