The new North-west. [volume] (Deer Lodge, Mont.) 1869-1897, 1883-12-21
WILLARD STEPS DOWN AND our.
Out Of TranseoEtinentai: Being Squeezed Out
of Northern Pacific.

NEW YORK, Dec. I'LL Is officially an.
nounced thai Henry Willard resigned the
presidency Of the Oregon Transcontlnental
and Oregon Railway and Nayigntion Com.
pany, and that w. Endicott, Jr., az Boston,
succeeds him - president Of the Oregon
Transcontinental, and T. Jefferson Coolides,
Of Boston, president of the Oregon Railway
and Navigation Co. Coolidee also euter1
the Oregon Transcontinental Board 81 Direc-
tors. The reason assignsd for the resiRna-
ton ID, Willard says he has become Impressed
with the conviction that Il would mot Be
proper for him to continue to be preSident
Of all companies, whose management he hss
heretofore directed, after the compistion of
the Northern Pacific. Willard, some weeks
ago, urgently pressed Endicott to accept the
presidency Of the Oregon Transcontinental.
NEW YORK, Dec. ia syndicate has
taken . part Of the bonds of the Oregon
Transcontinental Company, amounting to
between nine and ten millions. This will
relieve the company of the larger part of the
debt of late 80 burdensome. A report of.the
condition of the company will be made In .
few days. 1t IL positively asserted, however,
that the report will show on hand an aggre-
gate OF stocks fully equal to the amount held
At the time of the annual report of June
last.
New YORK, Dec. 1S.-A reporter called
upon large stock holder of the Northern
Pacific. at Is we'll known" said he, "there
has long been great dissatisfaction at the
condition of affairs of all the Willard compa-
mics. Since the extent of the Indebtedness
Of the Oregon Transcontinentaf Company
has developed, this feeling has incre ased,
and IL was determined that some change
must be made 1T once. Were his policy ever
so sagacious, the suspicion which has been
attached to his actions renders him the
Jonah who must Ue thrown overheard or the
ship will sink. For the present. but only
nominally, Frederick Billings has resigned
from the Oregon Transcont.nepta! directory,
and will take charge of the Northern Pacific
Railroad again. He abandoned one to save
the other. His stock was sold last week.
He was long OH the stock, then unloaded.
He was disguised with the way the blind
pool was conducted, and disagrees with his
colleagues on matters of ,retrenchment as
we'll. Willard is probably millionaire, but
no more. When be loses the Northern Pa
cific presidency his revenues viii be decreased
In all $50, 600 year. His t~s big houses
will be TOO large tor him them There is q
large mortgage on his palace
III,
"It Is just such position as Vanderbilt was
placed in when be resigned the presidency Of
the New York Central. When an officer sees
that the stock Of his company Is booming
and the stockholders are making money, II
Is for bis interest TO remain Ia the company,
perhaps. When the stock begins to decline.
aud only one officer Is making any money
out Of the concern, there 10 naturally dissst.
isfaction. President Willard is trying to do
just what Vanderbilt did," -.
"Should Willard also resign the presidency
OF the Northern Pacific" said u broker, she |
will sill be worth $40, O00, 000, while many of
the men who have been clamurirg for his re. |
tirement from the active control of the roads
he built up, will be compelled To begin life |
anew. The great trouble with Willard Is his |
total Indifference TO what men about town |
say or think. He Is cold In bis nature, and |
loves money. He 81 arted out in life to be- |
come millionaire, and he has amassed so |
much wealth that he Is In position to laugh |
1t and defy his enemies"
The opinion on the street Is that the /
change Is the best thing which could occur
or the companies interests, and Billings,
irst President, has better knowledge of the /
Iystem Of roads than any other man living.
de Is several times millionaire, and man
n whom the public has confidence. His
policy will be conservative and In favor of
"The change cannot be for
he worse, In any event." said prominent
operator. - Fsty -
The Tribune says his secretary said be had
eff the Board from motives Of delicacy, be-
ause Of The intimate relations between the
company and the Northern Pacific Railroad.
{ Is probable there will arise intricate ques-
ions between the two companies, and Viii
ard does not consider IL proper that he
hould vote on both sides of them. am sure
hat his personal interest In the companies Is
lst Is large as IL ever has BEEN His resig-
alton Is not al all an intimation' that he has
losed out bis interest In the stocks of The
ompanies.
Editorial comments: Willard retains the
Of the Northern Pacific, but indi-
atoms are that strong fight is TO be made
gainst him, and 1t will require the exercise
I Napoleonic nerve and genius on his part
he holds bis ground. ~
Herald: Wall street was treated to real
snsation yesterday in the resignation of
lizard. The result Of Eans change cannot
foretold, nor in the ris. prices tbst fol-
,wed the announcement e.o1 iseH any dis
fragment to Wizards management Of, the |
The public should await devel-
pments before rushing In or selling out. i,
he morals of Wall street are stiff un-
hanged. "a
Tribune: The changes indicate that in
'me particulars there were, difficulties Of ],
hich the public had not been advised; and
et the event proves that At the time when |.
lere seemed to be "no bottom" Il was rs
'ual the precise time for the "sbort" specu-I |
tors to be most wary. Ef T.. IVA
s.