The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1895-05-20
HILL TALKS.
General Railway Situation Clearly
Outlined.

! New York, May 19-President James ].
/ HILL of the Great Northern railway, who
arrived from Europe yesterday, conferred
with the Northern Pacific reorganization
committee and then started fer Chicago.
Previous TO his departure, Mr.. Hill said
in an interview that c. P. Huntington
did not put the 10 per cent estimate on in
crease in business a. bit too high as a
result of the deal between these two conf
lianies. Rates will be put UP slightly all
along the line and many expenses will be
cut of. Moreover, II seems the Canadian
Pacific will be given a lively race in the
building up and development Of the north
west. President Hill expects much from
the town of Great Falls, Mont, as the
PiutSburg of the west, and should Tesla
succeed at Niagara Falls i'll making steel
from iron by electricity, as he says he
will soon, the Montana metropolis will
of the northwest, with its contiguous
coal, iron and silver mines
will not the Canadian Pacific be a
dangerous competitor" he 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 Canada"
Speaking of the proposed new line of
steamships between Japan and the Pacific
coast, Mr.. Hill said:
Now that the war between Japan and
China is virtually over, l expect there
will be a big industrial development in
those two nations, and the United States
will have, as a consequence, a good deal
of business with them. If such a line of
have some new ships for fast service,
like the Atlantic liners And, of course,
that will take some time, but 1t will
come"
What is the general feeling towards
American railways in Europe"
THE present European buying seems to
me to be the result of investors having
more funds than they know what to do
with. There has been over-speculation III
Africa, and a great many millions Ster-
enterprises. Hence the people are look
ing for places TO invest their profits. 1t
is very difficult to get good European Sc
curitieS, so they are driven somewhat re-
iuctanuy to invest i'll our stocks and
bonds. OF course this does not apply to
American securities that have always
stood well, but TO those which have been
more or less questioned by investors. UIl-
less American properties are better man
aged and closely economical, Europe will
discount them in the future We have
got to establish a character for economy
in the administration if we want foreign
investors to take up our securities
What is the industrial situation across
the waterg
1.-THE industrial situation is not picking
up by any means" replied MIR. 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 nations
now manufacturers and producers CT
goods which England has long held
monopoly on. China and India are be-
coming great and important factors in
the textile world. The peace between
Japan and China will open the way to
great efforts en- the part of these coun-
tries to compete with European manu-
featured goods"