St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-05-20
TO BUILD UP TACOMA,
Willard Secures Control Of
the Pacific Mail Steam
ship Line.
He and Huntington Will OPP
crate 1t to Suit Their
Interests.
President Harrison Wants All
the Americas United by
Steel Rails.
Probability Of a Further Re-
duetion in Chieago-St.
Paul Rates.

New YORK, May 19.-The announce
ment made yesterday Of the big deal
between G. p. Huntington and Henry
Willard, by which the two Wall street
magnateS gain control of the Pacific
Mail Steamship company, attracted
much attention in financial and railway
circles. 1t was the subject of discus
sion and theOriZlng at the Wind sOr
hotel and other rallying places of Wall
street men off duty. On all sides it
was agreed that the new alliance was
sure to bring about most important
results. There were rumors Of con-
ference during the day at which repre-
sentatives of Mr.. Huntington and Mr..
Willard met Jay Gould or his son George
to consider propositions from the Gould
quarter for the modification or change
of plans which the new controllers of
the Pacific Mail property have in view.
1t was stated on good authority, how
ever, that the original purposes of the
new combination would be carried out.
Nobody seems to know how largely
Mr.. Willard is interested in the new
deal, beyond the fact that he
scheme for bringing Pacific Mail
his Northern Pacific railroad there.
This is of consequence great enough to
warrant heavy expenditures to obtain
it, but it is generally supposed that all
the prospective advantages and profits
of this new connection came naturally
through his mere requirement of COM
paratively small interest in the syndi-
cate conducted by MIR. Huntington in
buying the Pacific Mail stock control.
Much of the stock which makes up the
newly bought majority is said to have
been secured by Mr.. Huntington
and Mr.. Wizards brokers on an
average of $40 per share below
the present market price. Out of
the 100000 shares which make up
the Pacific Mail capital the syndi-
cate owns $4,000, while Henry Hart,
whose idea produced the syndicate.
owns personally $4,000 shares more,
making concentrated total in favor Of
the Huntingto n-Villard policy of over
10000 shares. 1t is limited that Mr..
Huntlngton's South and Central Ameri
can schemes are to be helped materially
by the new deal. Lines OF steamers
will be put on soon to develop traffic in
these southern directions. 1t is init
mated that the present subsidy from
TIC u ldlllOtiuo Will lidNC
to be much increased or else be ended.
Here IS where Henry Harris in
fluence will be felt. Mr.. Hart
has long contended that this sub
sdy was not equal to the concessions
allowed to the railroads by the steam
ship company C. P. Huntington. too,
as a big owner of Pacific Mail stock,
could, of course, favor raise IN the
proportion paid by his roads, such a
transaction amounting practically only
to passing of funds from one to an
other of his own pockets. Jay Gould
and Russell Sage would not bessos hap
PLY situated, however. Russsf sage is
quoted as saying that Huntington's big
has really been made mters almost
whom the establishment of Pacific
Mail port at Tacoma signifies financial
benefits far beVOnd cOmDutatiOn