The herald., 1895-05-20
THE RAILROAD NAPOLEON
Another Chat With Jim Hill of
the Great Northern
TRANSCONTINENTAL TRAFFIC
c. P. Huntington's Estimate Of Increase
COncurred In
1t Is Purposed Under the New Deal With the
Northern to Give the Canadian
Pacific a TussIc
Associated Press SpeclalsWire1

Associated Press Speclal.Wrel
NEW YORK, May 10. 9.-President James
j. Hill of the Great Northern railway,
who arrived from Europe yesterday. con-
| ferred with the Northern Pacific reorgan-
! ization committee and then started for
Chicago. Previous to his departure he
said in an interview that G. p. Hunting
ton did not put the 10 per cent estm ate
on the increase in business bit too high
as a result of the deal between these
companies. Rates will be put up slightly
all along the line and many expenses
will be cut off. Moreover, it seems that
the Canadian Pacific will be given a
lively race in tho building and develop
ment OF the northwest. President Hill
expects much from the town of Great
Falls. Montana, as the Pittsburg of the
west, and should Tesla succeed at n iagara
falls in making steel from iron ore by
electricity, as he says he will soon, the
Montana metropolis will become one of
the great industrial cities of the north
west, with its contiguous coal, iron and
silver mines.
''Will not the Canadian Pacific be
dangerous competitor ''was asked.
Not in the least" answered Mr.. Hill.
I'VE can compete with any transconti-
mental line in the matter of fast time. We
have nothing to fear from the Canadian
Pacific" Speaking of the proposed new
line of steamships between Japan and the
Pacific coast, Mr.. Hill said:
Now that the war between China and
Japan is virtually over, L expect there
will be Il big industrial development in
those two nations, and the United States
will have as a consequence good deal
of business with them. If such line of
steamships is established, it will have to
have new ships for fast service, like the
Atlantic liners. and of course that would
take some time, but they will come.
What is the general feeling towards
American railways in Europe?"
The present European buying seems to
be the result of investors having more
funds on hand than they know what to
do with. There has been much specula-
ton in Africa and a great many millions
sterling have been made in Africa in
mining enterprises. Hence the people
are looking for places to invest their
profits. 1t is very difficult to get good
European securities. so they are driven
| somewhat reluctantly to invest in our
stocks and bonds. OF course this does
not apply to those American securities
that have always stood WE'LL but to tho SO
that have peen more or less questioned
by investors. Unless American proper
ties are better managed and closely econ
omized, Europe will discount them in
the future. We have got to establish n
character for economic administration if
we want foreign investors to take up our
securities"
What is the industrial situation across
the water?"
''The industrial situation is not picking
up by any means" replied Mr.. Hill.
'The silk business has gone to China.
The most active business in England is
the manufacture and sale of machinery
on orders principally from eastern ma
tons like Japan and India, which nations
are now manufacturing and producing
goods of which England has long held
monopoly. China and India are becom-
ing great important factors in the textile
world. The peace between Japan and
China will open the way to great efforts
on the part OF these countries to compete
with European manufactured goods"
CHICAGO, May 19.-James J. Hill of
the Great Northern passed through this
city tonight on his way to st. Paul
When asked if the reports from Berlin in
regard to the details of the reorganiza-
tion of the Northern Pacific are correct,
Mr.. Hill said: well, part of it is true
and part is not. 1t is impossible now to
sav what the bOndhOlders penerally
speaking. will agree upon. The matter is
in the hands of others, and until their
conclusions are reached, it would be
manifestly improper for me to make any
comments"