The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1895-05-29

Hin Is Expected to Work wall Street
With His Railroads.

The Eastern papers do not think there
viii he any consolidation of the Great
Northern and Northern Pacific lines nut
simply very close traffic alliance aud
some OF the papers do not think that ever
any particular traffic agreement win be
entered iuto between the roads. The New
York Herald and the Chicago TgnesTIer-
aid are of the opinion that Mr. IInI viii
operate thu roads separately but will have
a traffic agreement that VIII he TO their
mutual benefit Other papers and S.av-
eral weil-known railroad men. who are
acquainted With President HIN and his
policy are of the opinion that he has no
intention OF operating the Northern PaCi-
&c permanently or even Of securing ashs1-
lutte control, but that he IS In "A gigantic
scheme with a New York syndicate 70
make some money Oh the stocks on both
lines by system Of bulltag and bearing
tho market.
Ths fdca seems to be that Mr. Hin win
build up tire securities and stocks Of ho-h
lines. especially the Northern Pacinc. and
then sell the stock out In small blocks 10
people throughout the country. When the
turn is discovered, those who bought stock
viii hurry 10 ssh and Consequently values
viii fau away down. II Is expected that
Nj. Hill VIII also let 60 a good DIAL Of
Great Northern stock IN small blocks and
when & - discovered that 10 IS aS good
as OK Of the road thu values VIII d>-
CT>esSs aui ne caEs buy ~ again at his Own
figures. BY this system of whspSa wing II
"a calculated that ar FTin and his friends
VIII clean M s. o0o. cta or sS0soa 90
BY many u - not believed that MIR. uir
viii care % buy Mort ern Pacific stock
after he has uSed q for what he can got
ont % g. What effect such a naareqy.r
VIII have on the permanent value OF the
seoek oS TIA; rne can only he con 3e,tlsred.
The New York Sun has a good deal ~
say concerning the reorganiz alton OF the
Northern Pacific company. bat states fe,a.
all its plans have not vet beea formulated
although L declares chat TIll viii bo pres
ideut. Il states that the general outlines
have been agreed upon. aut there are
numerous details Yet % be settled. The
sun SAYS that IN general terms the ulan
vrovtda< for ire foreclosure Of eNEsfire
mortgages and the formation az a rcw
company with a On pitsl stock - Sttsl so -
esN Continuing. the sun SAYS.
An issue % fsonds Will ~ provided fo-
under one mortgages sufficient 20 retire by
exchange the various issues % .ae Y,-es-
ent company and 20 furnish whatever
may ~ needed for Improvements ana a.
ouIsttions 81 branch lines. r s. r..oorfe,5
that these bonds viii re guaranteed Y,v
the Great Northern. Some % the Dew
bonds are % bear per cent. AM some ?
per cent interest. The present second
mortgage z~ouds OF the Northern Taciac
are - receive liza in the new fou~s -hs
third mort gage bonds par IN The negr
fhrees. with = per cent. 81 r-w stock
ard fhe cocsois - per cent fa new th-ass
AMI - per cent. IN new stock F~oy{sk,-
Is ma Pc FOR the payment c1 a scale. ~
Overdue coupons. SRI the daar.nx a.h.
and receivers CsrftGSa res are 20 IA tssis
from a. Assessment OF 81 $50 asa on -,a
stock % tne prFSeu; company.
~Nr James : fEtt has a~~-~f