St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1895-05-20
NORTHERN PACIFIC DEAL WILL
BE THE BUILDING UP OF THE
NORTHWEST.
DRIVE OUT CANADIAN PACIFIC
AND PLACE BOTH ROADS IN A
POSITION TO COMPETE WITH
ANY LINE.
THE PITTsBuRG OF THE WEST.
Great Northern Magnate Has
High Hopes of the Future of
Great Falls.

NEW YORK, May 19.-President
James J. Hill. of the Great Northern
railway, who arrived from Europe
yesterday, conferred with the North
ern Pacific reorganization committee
and then started for Chicago. Pre-
vious to his departure, Mr.. Hill said-in
an interview that Coils P. Hunting
ton did not put the 10 per cent esti-
mate on increase in business a bit
too high, as a result of the deal be-
tween these two companies. Rates
will be put up slightly all along the
line, and many expenses cut off.
Moreover, it means that. the Cana
dian Pacific will be given lively race
in the building-up and development
of the Northwest.
President Hill expects much from
the town Of Great Falls, as the Pitts
burg of the West, as should Tesla
succeed at Niagara Falls in making
steel from iron ore by electricity, as
he says he will do 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 rail-
way be a dangerous competitor ne
was asked
mot in the least" answered Mr.
Hill. oFs4
eve can compete with any trans
continental line in the mater of fast
time We have nothing to fear from
Canada"
Speaking of the proposed new lines
of steamships between Japan and the
Pacific coast. Mr.. Hill said: Now
that the war between China and Japan
is virtually oyer, I expect that there
will be a big industrial development in
those two nations, and the United
States will have as a consequence
good deal of business with them. If
such a line of steamships is estab-
lished, it will have to have new ships
for fast service, like the Atlantic
liners, and of course that would take
some time, but it will come" /"
- what is, the general feeling to-
wards American securities in Europe%
'"Fhe present European buying seems
to me to be the result of investors
having more funds on hand than they
know what to do with. There has
been overspeculation in Africa, and
great many millions sterling have been
made in Africa in mining enterprises,
hence the people are looking for place
to invest their profits. It is very diff
f1cult to get good European securities,
so they are driven somewhat reluc-
bonds. OF course this does not apply
to American securities that have al
ways stood well, but to those that
have been more or less questioned by
the investors. Unless American prop
critics are better managed and closer
economy exercised, Europe will dig
count them in the future. We have
got to establish a character for
economic administration if we want
foreign investors to take up our Sc
curities."
''What is the Industrial situation
across the water?'' 3
'"The industrial situation is not pick.
ing 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 ma
chinery on orders, principally from
Eastern nations, like Japan and India,
which nations are now manufacturers
and producers of goods of which Eng
land has long had almost monopoly.
China and India are becoming great
and important factors in the textile
world. The peace between Japan and
China will open the way to greater ef-
forts on the part of these countries to
compete with European manufactured
goods"