The Madison daily leader. [volume] (Madison, S.D.) 1890-current, 1890-05-21
YILLARD'SLATEST SCHEME
Ii Is to Secure Control OF the
Pacific Mail Steam
ship Company.
How 1t win Benefit the Northern
pacifle---Establishment of .
Mail Port at Tacoma.
What Wall Street Says Of the Pro-
posed Deal---Ex-Senator Sabin
Sued for Fraud

NKw YoRK. May 20
The New York Times says that the am
nouncemsnt OF big deal between G. r.
Huntington and Henry Willard, BY which
these two Wall street magnates gain cons
troll of the Pacific Mail Steamship COM
pany, attracted much attention in financial
and railway circles. II was the subject or
diseuasion and theorizing az the Windsor
hotel and other rallying places of Wall
street men OF duty. On al sides u was
agreed that the new alliance was snrs to
bring about moat important results. There
we're rumcrs Of conference during the
day at which Representatives Of MIR. Hunt
ington and Mr.. Willard met Jay Gould or
bis son George to consider propositions
from the Gould quarter for the modidea-
ton or change Of plsAA which the new
controllers OF the Pacific Mail property
have In view. II was stated on good
authority, however, that the original pur-
poses of the new combination would be
carried out.
Nobody seems 10 know how largely hr.
Willard Ia interested In the new deal,
beyond the fact thAt he has gained In
aorsement of his scheme for bringing
Pacific mail steamers mp 10 Tacoma TO
connect with his Northern Pacific road
there. This 10 of consequence great
enough 10 warrant heavy expenditures 10
obtain il, bat II Is generally supposed that
ell the prospective advantages and profits
of tins new connection came naturally
through his mere requirement Of q COM
paratiyely small interest In the syndicate
conducted by Mr. Huntington In buying
the Pacific Mali stock control. Much OF
the stock which makes mp the newly
bought majority In said 10 have
been secured by Mr. Huntington and Mr..
Wizards brokers on an average Of so per
share below the present market price. Ont
Of the 200, 900 shares swaich make up the
Pacific Mail capital, the syndicate ewns
$4,000, while Henry Hart, who mas pro-
dueed the syndicate, owns personally
| 81, 900 shares more, making q concentrated
| total In favor of the Huntington Willard
poIscv OF over ll0,0uO shares.
II In limited that Mr.. Huntington's south
and Central American schemes are 70 be
helped materially by the new deal. Zines
/ of steamers will be put on soon to deyelop
| traffic In these southern directions. it 10
tA&AthAAGus AuDs Ahak tAw ktSn0bh "0M1A1y
| from the transcontinsntal railways viii have
to be much increased or else be ended. Here
ID whore Henry Hart's influence will be felt.
Mr.. Hart has long contendek that
this subsidy was not equal To the conces-
sions allowed to the railroads by the
steamship company. @. Y. Huntington,
who is big owner of Pacific Mail stock,
could of course favor raise in the pro-
| portion paid by the roads, such transae-
tions amounting practically only to the
passing Of funds from one to the other of
his own pockets. Jay Gould and Rus
sell Sage would not be happily situated,
however.
Russell Sage Is quoted as saying that
Huntingtons big purchase has really been
made almost wholly In Henry Villard's IN.
terest, to whom the establishment Of a
Pacific Mail port at Tacoma signifies hnan'
ciai benefits far beyond computation.