The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1895-05-20
James j. Hill Tells About His
New Railroad Policy.
MANY EXPENSES TO BE CUT OFF
FirSt-ClaSs Steamers to Ply Between
Puget Sound and Japan.
Inc Doom of England as Manufacture.
ing Country-India. China and .Iapan.
with Their Cheap Labor. WIN Man.
ufaeture For the World.

New York. May ls-PreSident James 7.
Hhl. Of the Great Northern railway. who
arrived from Europe yesterday. con-
ferred with the Northern Pacific reorxan-
lzataon committee and then started for
thlesigc. PREVIOUS to his departure Mir.
fiiii said In an Interview that q. f. Hunt
ington did not put the 10 per cent asfi-
mate on increase in business "A bit too
high as = result OF the deal between fhe
Great Northern and Northern Paciac
companies
Raies viii De put up slightly all along
the hne, and many expenses will be cut
on Moreover. 81 seems that the Canadian
racine wll he given a lively race in ths
building and development OF the North-
west. Mr. dIiH expects much from the
town Of Great Falls. Mont. as the Pitts
ourg Of the West. and should Tesla sue
oeed at Niagara falls in making steel
from Iron ore by electricity. as he says
ne VIII soon. the Montana metropolis viii
become one OF the great industrial oitaes
OF the Northwest with sts contiguous
coal. iron and silver mines
WIN not the Canadian Pacific be q
dangerous competitor he was asked
Not in the least" answered Mr. HiU.
we can compete with any tranSconti-
mental line tn the matter of fast time We
have nothing TO fear from Canada"
Speaking of the proposed new line of
coast. Mr.. Hill said; Now that the war
between China and Japan Is virtually
over expect there will he a hig industrial
development In these two nations and
the United States will have as a conse-
puence. a good deal OF business with
them. II such line OF steamships is
established IL viii have TO have new shsps
for fast service. like the Atlantic liners.
and Of course that would take some time.
but IT viii come
What is the general feeling toward
American railways in Europe2'
The present European buying seems
TO me 10 be the result Of investors hav-
ing more funds on hand than they know
what TO do with. There has been over
speculation in Africa. and a great many
millions sterling have been made in
Africa in mining enterprises. Hence the
people are looking for places 10 invest
their profits. II is very difficult 10 get
good European securities, 50 they are
driven somewhat reluctantly TO invest in
our stocks and bonds. OF course this
does not apply 10 American securities
that have always stood well, but 10 those
that have been more or less questioned by
investors. Unless American properties
are better managed and closely econo-
mized. Europe will discount them in the
future. We have got to establish a char
acter for economy OF administration TX
we want foreign investors to take up our
! securities-',~--.--~-.
what Is the industrial situation across
the waterT'
The Industrial situation Is not picking
up. by any means,'' replied Mr.. Hin. The
silk business has gone 10 China. The
most active business in England Is tho
manufacture and sale OF machinery on
orders principally from Eastern nations
like Japan and India. which nations are
now manufacturers and producers or
goods In which England has long held
monopoly China and India are becoming
great and important factors In the tex
tile world. The peace between Japan ana
China will open the way to great efforts
on the part OF these countries 10 compete
with European manufactured goods.
Chicago. May t9.-James ]. Hiii. OF the
Great Northern. passed through this city
tonight on his way TO St Paul. When
asked II the reports from Berlin in re-
gard TO details OF the reorganization or
the Northern were correct. Mr.. Hiii said:
well part OF 1t is true and part Is not.
II IS impossible now to say what the
bondholders. generally speaking, viii
agree upon. The matter Is I'm the hands
of others. and untH their conclusions are
reached IL would be manifestiy improper
for me to make any comments