Seattle daily post-intelligencer. [volume] (Seattle, W.T. [Wash.]) 1881-1888, 1883-12-21
WILLARD EXPLAINS.

WILLARD EXVLA1Nss
Nv YORK. Dec 19.-Villard was seen
- hia residence by reporter. TO whom
(. enid: "The management OF SIX large
.cmnanies. control OF which l have 50
=, exercised, was far too great load
-, me. II was impossible to give each
"a the corporations that executive care
allied for in Justice to the interest OF
shsir stockholder-. have been greatly
"vervorked for years past and In great
danger OF bodily break down. My
sS.s,c;an has cautioned me, time and
time again, that il did not relieve my
nT ~ q mart of the burden l might
collapse at any time: In obedience
49,, IN the interest Of the several cor
scrstious. s and in justice to myself and
tsm;lv. made up my mind long ago
.S.. 90 soon as nv principal task. viz,
sasrist;no We. the Northern Pacific, WAS
ooh;sred would retire from the man
.sr.nt of the companies. According
- .oc.a fiye weeks since, requested
Wai;sm Endicoit, Jr., to assume the
.~s...ors;bility Of the Presidency Of the
D.lrso, and Transcontinental. He re-
ssS eo, eome time. but final and ur-
80 .rraal 70 him last week resulted in
ssssrtsnce. He is one Of my oldest
Ia trnest friends. and my associate in
az n,soon enterprises from their very
..,an;xstiop. -. 10 / naturally turned to
~, The relations between the North
an Pacific and its allied corporations
srs such that points of issue between
ths@ continually arise, in deciding
vhich have heretofore been acting, 30
IN sDeak. on both sides. OF course, /
naa1 not say that this was hardly a
nroner relation for me. A specific case
bas now arisen, which in itself rendered
q impossible that should continue in
the Oregon and TranscOntinental Board.
It In the final settlement of the account
hetveen the Northern Pacific and tho
Oregon and Transcontinental, covering
their financial transactions during the
last three years. There are some claims
OF enc against the other, involving both
right and equity, upon which ought
mot to pass in a dual capacity.
The World says: This certainly
might be q good and sufficient cause
in ordinary cases, but what sort Of a
railroad President must Willard be il he
il influenced by such considerations rs
the last named.
The Sun alono Of the morning pa
pers condemns the reckless street Cos
zip about Willard, and says: We have
known Willard for great many years.
and shall require evidence much more
substantial and conclusive than wild al
legation and violent runners of Wall
street before we shall be willing to be-
lieve that he is anything but a man of
upriehtness and fair dealing.
NO INTENTION OF LEAVING THE NORTH
ERN PACIFIC.
NEW York, Dec. 19.--Henry Willard
on Monday moved into his magnificent
mansion on the corner Of Madison ave-
nne and Fiftieth street, and on the same
day moved eat Of Oregon Transconti-
mental and Oregon Navigation. The
two events. apparently 30 widely sop
arate, and Wizards suddenly acquired
wealth Is regarded a. the cause Of the
distrust felt by his former friends of
his capacity and faithfulness. Willard
was interviewed, and said that he posi-
lively denied any intention OF resign
cifie, and that no suggestion Of this
any quarter. notwithstanding all that
had been said in tho papers on the snb-
jeCt. Nor would he entertain any such
the last annual election Of the North
ern Pacific $64 coo COO Of stock. directly
and by proxies, and | shall certainly
remain at my post until majority Of
the Northern Pacific stock holders shall
decree otherwise"
yILLARD's REsIaNATIoN FROM THE NORTH
ERN PACIFIC PREDICTED.
CHICAGO, Dec. 1.-THE T,Ibune's St.
Paul special Of December 18th says
A well-informed ex-railroad man of st.
Paul says: ~ WAS in New York this
fall, after the return Of Willard, and
from friends there in the Northern
Pacific learned that il had been decided
that Willard must step down and ont by
the last Of January, 1884. Drexel. Nor
gan Il Co., Of New York, and Drexel Il
Co., Of Philadelphia, are and we're in
-imical to him, in the sense that they
must find a scaE egoat, and he was cho-
sen. YOu zee that Drexsl, Morgan 4
Co. stand in the same position to the
Northern Pacific that Jay Cooke once
did, except In the important particular
that the road il completed and IL not
bankrupt. They staked their reputa'
ti0n, az it were. on their ability to make
its stock reach par, and succeeded, as
you know, only to SEQ it, to their in
tense modification, fall lower and low
er, until, TO give round numbers, pre-
ferred Northern Pacific sank TO 90.
common to rs, and Oregon l. Trans
continental, which costs its possessors
S cents in hard cash, went below b
Their chagrin was M deep AZ il was
natural, and as ! have said scapegoa'
being necessary, Willard was selected to
rhov ho - II Mill v,ut A~o Deaos Ia M
OF tho Northern Pacific on New Years
day, 1884,"
KILLINGS WORKING AGAINST WILLARD.
have no doubt but that the fall oi
ten points in the Northern Pacific aftel
Willard had started on his famous ex
cursi0n VAS engineered by Drexel, Nor
gan 4 CO. They were bears for time
but started downward rush that the,
could not check, and In hurting Villart
they also hurt their own property Ia,
moro than they had believed possible
Frederick Billings has never recovered
from his modification At being oustet
BY Willard, and he has "knifcd' the lat
ter constantly. He was Kept accuratel,
posted ~ to all movements aud interest
Of the management, and has conse
quently been in position To- d,
great harm. In his course he has beel
aided by Geo. v. Sims, formerly his pri
vate secretary. but later that Of Oakss
Il Ii also known in New York tina
Cakes 10 heavy loser through tn
stock depression. He has lost all hi
accumulAtlons, in fact. aud ~ hap
pOn 10 know was exceedingly nsrvou
about his position last October, belle,
in9 that he would accompany villar
into the outer world. How. many mor
0f the present Northern Pacific official
are heavy losers ] do not pretend I
know"
II you want laborers. mechanics
cooks. steamer or vessel crews, mill Q
logging camp hands, call or addrsas a,
We make no charges. WashingtO
Territory Employment Bureau, VAST
ington street, next 70 Police Court.
u. box 682. Is lia
ADMraARIR.-Oor show window
packed full Of choice holiday good
and in tho center IN the grand psiz
a.