Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-11-06


as to the individual debts is still in the su-
psrior court, and that the injunction is
operative, and the defendants will disre-
gard it at their peril. Consequently, with
tie view of the law which the plaintiff
takes, he cannot appear upon the motion
in the United States circuit court which
you have noticed for Monday next
That there may be no question
of the plaintiffs position we think it suit
able to send you this notice now"
The fact that w. K. Vanderbilt had de-
cided not to open his city residence this
season was taken by gossips as an admis-
sion that he was hard up and proof that
his losses some time ago were very heavy.
The persistence of the party who are max
ing fight on the Willard party in the
courts has created some uneasiness, but
the general impression seemed to be that
the clique controlling the Northern Paci-
fc and Oregon Transportation would
permit no great depreciation in
either until after the new
mortgage bonds are issued in the hands
Of investors. After the colossal junketing
expedition which must have cost the North
ern Pacific pretty penny, Wall street was
most unnaturally surprised to find that
ratrenchment was the order Of the day.
ce President Oal1es has gone to the west
10 reduce expenses. This economical
move has already had a bad effect, and
several accidents have occurred on the road
owing to the reduction in the efficiency Of
switchmen. That there is something in
these reports is proved by the caustic
letter written by Haupt, who has been ger.
eral manager of the road since 1881, and
VINO has just resigned his Office. We'll
street has been expecting for some time a
statement Of the financial position of the
Oregon Transcontinental company. The
date of its issue has beens postponed from
day to day and it is now whispered that
several OF the prominent bankers interest
81 in that company have refused to sign
or in any way to indorse the statement.
Their connection with thu concern was
regarded by the public at large as of
much more Importance than the exparte
now said that the company does not
dare to publish the statement
without the endorsement of Mr.. Belmont.
Messrs. Drezel & Morgan and other well
known men supposed to be interested in
the affairs of the company. The recent
decline in the Willard stock has directed
public attention to one point which ought
to be ventilated. Is the president of
company trustee of the stockholders or
as the speculative nominee of few Wall
street operators? OF course every one
knows that man like Russell Sage be-
comes director in railroad company or
a bank merely to have his information six
months ahead of every one else and to be
able to map out his puts and calls
accordingly. But it seems as If the
president of railroad at all events, if not
the directors, should have other aims than
these. He is the trustee of the stockhold-
ers and should feel bound to ignore all
private money making schemes in his
management of the road. One would
think that the very last thing the president
of railroad should do would be to get up
a company to speculate in the shares Of
his corporation, yet this is the very thing
which Mr.. Willard had done. No man can
serve two masters, and it would be good
for Mr.. Willard to consider whether he can
attend to the interests of the Northern
Pacific and Oregon Transcon-
tinental at the same time.
The shareholders in the Northern Pacific
have right to the undivided attention of
Mr.. Willard to their affairs, and if it is true
as it is being said that Mr.. Willard had
suits against the Northern Pacific which
he subsequently, compromised for large
amount of the stock of that company, he
cannot and must not complain that the
public refuse to believe in the future of the
enterprise entrusted to his charge.