St. Paul daily globe., 1893-06-08
pit at that spot little later from which
we took many train load of ballast"
AS A FINANCIER. Z
One Of the Greatest Character
istics of the Man.

One OF the Greatest Character
istics of the Man.
1t Is doubtful which of the two is the
more prominent and valuable faculty
possessed by MI. HiII-his knowledge az
manager or his skill as finapeier. The
first is undoubtedly more familiar to the
world. but it is question whether it
has stood him in better stead than his
inimitable fnssse as fipapcier. Plan
and manage as he might, the splendid
T Great Northern system of today could
never have been made possible but for
the consummats manner in which its fin
anees were handled. There is where
Hill shone. After the purchase of the
Dutch bonds, Of one branch of the st.
Paul & Pacific and the stock of the
other line, 1t became necessary to
float s32,00o.O0O of bonds to raise the
money to complete the road, and
when Mr. Hill accomplished this
through Montreal bankers, it estab-
lished his reputation as much as finan-
cler as a railroad man of enterprise and
ability. In those days-eighteen years
ago-Mr. Hill was not a capitalist, it
must be remembered. But his shrewd-
ness and broad Judgment covered
finances as we'll as MANAGEMENT. Fig
ures and their combinations were quite
as familiar to him as facts and conclu-
sions. he satisfactorily proved that IN
transportation company he figured
rates to point at which there was
money for his company and bankruptcy
for sany rival from across the line. He
has shown 1t In every bond transaction
OF his company. securing money upon
favorable terms when other enter
prises found the money markets
of the world practically closed.
He has the unlimited confidence of
those who control the ebb and flow of
the golden tide and his securities have
never gone begging. When it became
necessary to raise the money to carry on
the extension, the completion of which
is now being celebrated, the financial
world was astonished at the rapidity
with which Mr.. Hill disposed of the
par. 1t was scarcely known in the
marts of Europe that Hill wanted
f6.000,000 sterling before the offer to
take the bonds came at once. The
money came at time of great strin-
gency in New York, but before it was
actually necessary to the. company, and
by It's use in Wall street, Mr.. Hill was
enabled to solidify himself with the
money powers of the street and reap
rich recompense for the company.
After his long experience, Mr.. Hill is
now recognized the country over as a
financier upon whose judgment and
foresight nation might depend. Sec
retary Carlisle, of the treasury, once
referred to him as ''the great financier
of the West" while it Is well enough
known that twice since his election,
President Cleveland has sent for Mr..
Hill for counsel and advice upon the
financial policy to be pursued by the
administration.
The singular shrewdness, judgment
and foresight which have characterized
the financial operations of the Great
Northern magnate might be illustrated
by dozen stories In connection with
his successful manipulation of the
stocks, though he has never been a
Hspeculator. In this particular he stands
out alone and singular. Though he has
been frequently referred to as ''the Jay
Gould of the West" he differed from
the deceased finaDcier In the important
particular that, while Jay Gould was
wrecker of railroads, Jim Hill was
builder up of countries. In finance, as
In other matters, ,he saw the end from
the beginning, and In his course never
sWerved.
/ In this connection it might be said
that he foresaw the present financial
crisis months before 1t arrived, and ac-
curately described the producing
causes. 1t Is his opinion that when it
has passed the country will experience
the greatest upward and onward mOve-
ment in ie history.