New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-05-20

holders that they have become victims OF the oiuH
game that seems to have been thus deioera'eS
o.-F%m tho circular calling for Proxies issued
Xmes Sidney Dillon Elijah smith John H. Hal ana
Samuel Thomas, II Is evident that the ST. Paul Mime
spolls and Manitoba Railway Company is one OF inc
party in the combination that is trying 10 get G3Il
troll of the Oregon Transc continental Company IhS
is an pectcd revelation 70 the public HSSo you
good deal. The combination hS as,.Ss that
James I'M General samuel Thomas aud also SsTI
S. Brice, parties 10 the combination AZ to pr,e
voS S ~ SUCCESS IN M ptsrt Of The Oregon Trans
continental Company not only a. d nS and Nayga-
n OF g b u as tho largest holders OF tia, o.
the Northern Pacific Railroad. hsVS PVTI Mime
.noI, 'n snd u" Manitoba Company had begun monhS
ago to arrange traffic combinat ess Initiation TO
Pacific feel under fnf thus openly announcing
their alliance It viii open the eS~: Lao Of tho
hS Oregon ,c Tsn'c sos RSoder ne men
danger they have escaped through my StircnfaI Com
ing inc Ss rcompoto6 Of the alliance is snUs t
if1Instrsnon Of tho old fable OF the wolves "''"'
herd the sheep.
1s lie A FRIEND OR AN ENEMY
Tho idea OF the ST. Paul, Minneapolis ana Man'opa
Company, the traditional enemy OF INC ., I'D
cioc becomIng the protector OF the Northerh racine
.,n.,holaersI why, that company has been
The most aggressive competitor OF the Norm
srn Pacific in Minnesota and DAKOTA LOT
at,can years and within year mas com
nI.tod as IS we'll known, 700 miles Of road paraienhg
the Northern Pacific all tho way to the heart OF
Montana All the friends OF James j. Hill know more
over TINT his great ambition Is 10 continue his line from
uelona 10 the Pacific Coast AS said, cannot Do
too grateful ~ these gentlemen for showing he'r
hands. For, am sure, 1t VIII arouse every lH"'
pendent holder Of Northern Pacific stock 10 the mortar
pcrils that would befall the company II James :.
Hill acquired control over IT. don't wonoer tna'
his aDpetite has been whctted In that direction TOT
while the Northern Pacific earnings have shown
steady increase in the years, those of his own
company, everybody knows nave uhdrrgoi ,e S
enormous decrease since last iaii. 10 @ o,'H ~
from the Northern Pacific system 20 MS own "OIIt W
course be very easy ard 9necuvU SSnS " ,hc recent
deciinc in tho Union Pacific earnings, that IL ~ also
hungry for the Same prey .,..,,,.. y, ro,,r on
Git is stated In the proxy SrS on r y, MI Tram
continental preferred stock, secured by SlZoVoVUo ~
Oregon Railway and Navigation COMPANY ,,"Gn S%
stockholders. This is about a. , TS" 81
tia, pS MsnoDa RI Hallway
company a, a rlghtfh champion OF tho NnitheTrh1
Pschc srochhodes The simple truth Is 'ha nJ Tram
c0ntnonta Company II I succeeded, a. ! cN.c, d6a
before this trouble becS9 IN placing ststed At
par For IL would preserve intact the most NAtusDo
asset Of the com!any rprc,e n,sa og m Cn;;v,ny
storE and result in paying OFF It's entire hOatnI drot'
and cavs "a 900 900 as working capital in rs treasury
there woue 49,, 80 y, The Orc-on hallway and Navigation
Companys dividends over those oil inc H,sele''rIn
: :sGGa T n til al, 'TO hold my pos
session draft OF an agreement b'l"ecn 'n'
~ the Union Pacific and Oregon short Line, Northern
pa,iHc ana Oregon TranscOntncnta Companies
drawn BY NrssrS. Dillon Swaync. mo very IaNlris
snIt ard by another Union Pacific lawyer, providing
for the issue OF Sl2OooOo0 OF oregon ana drasCm.
ansn Ra STTp snG SSVissn Company stock This
agreement had tho full assent OF The prrSidcht OF w
Union Pacific and Oregon short IAne Iompan.. an
for several weeks he prOf'e'ei ~" 'trunEst anNS
to have Il assentcd tn by the Northern Pacific ana
Oregon Transcontlnontal COMPANY. In oiLer W"ri,,
the signers OF the opposition circular pTohou.e .T
issue OF 40 900 600 Of Oregon and Transconinonlai
preferred stock injurious 10 The Ntpckh"ncS OF w
company but they wore perfectly willing. until lately
that ST. 900 900 of bonds should bo placed ahead OF
them.
HOLDING MAJORITY OF THE STOCK.
o-Do you wish TO say anything about the letter OF
President Charles +. Adams concerning reduction oil
Oregon Railway and Navigation Company diNhehds'
which was embodied IN your second AhdaNtI A.
As # speaks for itself, VIII only add that o'>'d's
sending the letter TO the Oregon and Tranronuhehnl
directors he sent officially copy Of It 10 the Northern
Pacific Board.
o-Is II true Mr. Willard that you and your friends
own an absolute majority q the outstanding oregon
and TrauscontDeutal Company docki A.-ies sT'
Il ID absolutely true We bold nearly 2oHooo shar's'
and in addition | have ALREADY proxies In MY bahds
for about JOCO more bLhCNi i AuVN ''l' N''''' ~
docs not believe that We have secured cOuiToi. Dut
II f. my Intention as soon tho stock ltiE"r Of the
Oregon Transc0ntncnta Company Is written up 10
invite COMMITTEES OF three neutral bankris OF lI"'.
ncnco % prove our holdti Z, by the iootlnS on 10
ledger in order 10 establish tho fart OF our NCluIl
BEYOND ganSay am sure the pubic VIII GsiTo
Nth me that IN the fact thai ny Sll and ChHN nav
Invested over a. 600 900 In this majority INTEREST |
the best possibly proof Of the Csri,SncsS 81 our pr
NOE 10 rhabiitsto the company, ard also the stphE
eSt possbic guarantee that "" cannot DO anything
contrary is best interest Without hurting ourselves
more than any body ehc: - -, -,
| o-soIne pruple think that you have been instru
mental in bringing about he present G%rmsl
| In Oregon and 1IBL SCOntlnnniAl company
stock Is there any foundation for MS
| At Is absolutely untrue We have done nothln.
beyond buying stock, paying for IL, and holding ON tI
| H. / presume the other side has done the SANE
The corner must be therefore simply due Ia The foolish
ness OF the shorts selling more stock than Wrr
| is took occasion every day, N the last lori
night in my Office 10 caution against Just thS con
| tIncency nut regret 10 say that IN some caSN
ieast ms advice was not needed. avn very ahAion
10 nut an end to tho distressing state OF things AT h
| Gtnrk FXchsr-r, and / AM thinking somewhat o
nronoSng 10 the other side that each shan cOhtinu
10 600 shares OF holdings for the rcUci OF ih
! mnrket, OF course, under proper conditions ana 10
| strictlOns