New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-02-17
OPPOSED TO MIR. WILLARD.
THE LATEST NORTHERN PA ltlC DEAL
PROPOSED SALE OF II. r'rL AND y /. SloOh
OBJECTED TO-INVFSTIGATING COM
NITTEE'S DELAY.

MITTEE 1T bNN
Interest In The affairs Of the Northern Paci'c l'"ii
road has been STIMULATED powerfully 'y inc al QUIZ
rncn that The director, had decided 20 sell The -.
paul and Northern Pacific RqroaG stock held In tn"
treasury on the eye Of t." publication Of tn" report
OF the committee OF stockholders appointed ~ inc
last annual meeting 80 investigate III" charges 81 ms
manacemcni Thi. action has excited decided ill'm
AGAINST the management o. tn MOI IN IA hl' an"
II seems 10 b. concentrated against Henry Willard.
The outlook seems t. be that tn" opposition
against Mr.. Willard will to head and an i''n"
made which win determine his ability to continue III
control.
The hostility to Mr.. Willard has existed for som"
time Rnmors have been frequently crcnlac' ~
Wall Street that Drcxe. Morgan " Go. wer" nnNi"n'
10 n change In the management OF N" c"hp"N'
and thc rcports have received g,rcrnl cledenc". As
the board OF directors Is classified. her" WIS u" "p
portuny for any demonstration OF III" >tr'nsth o. u"
opposition at the annual meeting on October 20 laSt
But nj that meeting. I'm response to Inc demaho' o'
stockholders n committee was appontc" to Investigate
fine condition and assets NJ ia" company ana maze
fnll report TO tho stockholders. The committee n7m"d
was Henry CLOVIS. Bravton Ives Frank h SUITES ana
william solomon of New York and Jay Cooke. r.. Of
Philadelphia.
Mr.. solomon. who IS 2 member OF the banking hrm
Of epe,cr q Coz which been Interested gr'at deal
In the financing Of the Northern Pacific. d"cllhch 20
sorvo The other members have pursued their IN
vcstcaon, and are about ready to make th''r report
If Is said that the delay In the publication OF Tue
repot has been due the difficulty IN obtaining from
the commands officers complete list Of tho Stock
holdors to whom the report was 10 be addressed In
di,iduol,y Yesterday Jaw Cooke. IT,. the Phill-
dcIpb,s member Of the investigating commi'ter' was
onoed In a dispatch TO kiernhns New" "Ec"'H IN
saving. Il don't know whether the director" nave
obtained a synopsis Of the report or not 'he' haN'"'
Obtained II from us. No one. so Tar aS W. hi'"'
hos scen fine report excep, the members Of IN" col-
mi,.ec We will send II out rs soon a. we E"' Il
IL, a, tho Stockholders | suppose III" officials OF
,bo comnonv have their reasons for Withholding Tie
;ist What their reasons are | don't Know
Yesterday the Northern Pacific directors moi 10
consider matters In connection With the props'" s'
Of the - Paul and Northern Pacho STOCK "''' u,
,he trc,.ury II was decided 10 call NpedH'
mcctinc Of Stockholders April 20 to amchu 'h'
contract between the two companies III a's"Iu'"''
tho nlan proposed announced IN Inc lrlp"'
for the liquidation OF The floating dept IL i u"
tended TO lease the 81 Paul ard Northern Pachc Oh
perpetual guarantee OF per cent for NC hrSl '"o
years and per cent thereafter. ms VIII Nce"'r
the control TO The Northern Pacific IN" -. r""
and Northern Pacific stock 70 the amount Of s'.ooV
700 will ne sold nj a p.!cc not known. but believed
IN bc I'm the nc!ghborhcod OF 30. The first opportunity
o subscribe will be offered the stockholders OF me
Northern Pacific but a syndicate headed by spey'r d
20. has guaranteed or Gnd"fwF1t"n the eh'r' 9"o
,ciiptlOn This sale VIII r''ci,t u' Fi''""'''"
Northern Pacific con7oldi'cd mortfNf' bonds no" h'"
10 secure the company floating debt.
The criticism that Wa cApr",'"d hy prominent
,tcckloldcr, Of the Northern Pacific. who arr not
vet willing t. permit their names 10 De used Is
directed not against any rep g'rI 'Norhant BANKING
commission involl ed IN tn" transaction but a.in l
he arrangements being made ~ tia. time. IhrT" j u
no pressing need for Money on ia" part u 'H'
Northern Iachc and therefore II j, rll" t@i ilAi II
+, bad policy 20 make such an arrangement In
lmr Of dS'rli,i and hnaurh uncertainty. NJ -uch
time ONLY minimum term, cluld DO obtained from
money lenders. II J, ais declared That the tranv
ciion will place in the hand, ~ tie present
Northern PaCLc management practically iS only
AVAILABLE assets. some OF tn prominent s'ocA- .
oldcr. object sir~nuou~iV - ihi, h"n- don" VINE
NJ. Willard I, SIN dominant In the management 81
he NO.ih,In Pacific and before the stockholders nave
N up riiniiy 10 Jud." whether thril committee
II invest .a ~ viii furnish cvif nc" In support ~
he charges Of mi-ndnlScmtni Wnd" II IA" IH't .
annual meeting.
II /, believed that the CrWs cOmmiite" has prepared
Cme incisivc criticism Of tho pI, financial TRAM
EFT ,ps OF tho Northern iaci1c infringement. while
oin. full Justice 10 Ia" merits and possibilities u
b.. property II /, certain HAT there viii b. IN i'm
Ortant opposition to tn" carrying ont ~ ~" -.
Paul and Northern Pacific scheme IT ,al" unl">, In
hc meantime there cnn be effected change, IN thc
onirol Of the Northern Pacific