The daily morning Astorian. [volume] (Astoria, Oregon) 1883-1899, 1897-03-04
ALL INTERESTS TO
BE HAIR MONlZED
Great TranscoOtinentaI Roads to Norh
Together Over the 0. X. a "
EFFECT ON TIE ASTORIA ROAD
VIII Bc Part and Parcel 0f the Gen
crni Rchcmc-'Admhtcd by all
Familiar with situation.
oNTHE ASTORIA ROAD

From the New York sun.
About two weeks ago the announce
mrnt was made In the Sun that ma
jorty of the preferred stock u the
Oregon Railway ana Navigation Com
pany had been purchased, chiefly. from
foreign holders. for interests Identified
with the Northern Pacific and the Great
Northern railway companies The Deui-
sche Bank " Berlin wiz credited with
making the negotiations abroad that
resulted In the purchase 81 100000 par
value of oregon Railroad and Sayiga.
ton preferred frnm the committee rep
rcpenting German holders Of tnat stock
I, WAS learned yesterday that the real
principals In the transaction are the
Northern Pacific and Great Northern
companies,
They have acquired this stock. which
through the provision Of a voting trust
control the OrcgonRRilruad and Nsvlga-
tion Company for the next i've years
under an agreement that places both
companies. aH well as othor connecting
lines. on terms Of equality In exchang-
ing business with the oregon Railroad
and Navigation system The purpose
OF the agreement ls 10 secure the hand
ling of tmfiic by the various lines In
tcrested by the most natural and short
est routes. to avoid unnatural diversion
of trafilc by direct or indirect methods
TO secure Ia all lines using the Oregon
Railroad and Navigation system fair
terms. and stable and lawful rates. and
To prevent the O. Il. and y from cut.
ting rates with connecting lines In order
to secure ,rRfic.
1, is understood ,ha other ;ranspor-
tatlon interests In The Pacific NorthW t7st
are already or may become Interested
In the transaction. chief among the con
Meeting hines IL the orrgpn Shor, Line
and Utah Northern Hallway Company.
which owns majority ot the common
stock of the oregon Railroad and Nav
!gluon Company. which circumstances
would seem to guarantee It's acqides
cencc IN any agreement calculated io
Increase the profits of the company last
named A very large proportion of
the stock OF the shor, Line Company
Is In turn held 10y the Union Pacific
Railroad Company, aud II is therefore
obvious that when that company has
been reorganiEed the policy OF Its man
agement will be favorable 60 the efforts
that have been made TO bring all " the
northern transcontlnental lines into
harmonious relations With the Oregon
Railroad and Navigation system.
The definite steps THAI have been
made In this matter In uhe last few
days have apparently been made the
basis lfor the publication OF absurd
reports that the Great Northern Rail
way Company has secured control OF
the Northern Pacific Railway. II can
be stated upon the highest authority
that the Great Northern Railway COM
pany does not own dollar OF the Sc
ouriues of the Northern Pacific Rail
way. The recent sale OF about 1890
shares of Northern Pacific common and
preferred by the syndicate that under
wrote the Northern Pacific plan Of re-
organization to various purchasers rep
resented by the DeutsChe Bank of Ber-
lin was, as stated In the sun at thc
time the transaction was made, To the
bank and It's constituents,
That the Deutsche Bank will repre-
sent uhis stock and that the manage
ment of the bank is not hostile to the
Great Northern Company was distinct.
ly stated AT the time. As matter of
fact, the stock purchased by German
capitalists, added to that already rep
resented by the Deutsche Bank. would
not absolutely control the company
even were the stockholders entitled t.
vote. which they are not. as the con
trol OF the organized company Is vest.
ed for the next flve years In voting
trust.
An allinace between the Oregon Rail.
road and Navigation Company and the
lines connecting with II has always
seemed 50 desirable that the managers
of those roads have endeavored to bring
II about for the last ten years. Al
one time the Northern Pacific controlled
the situation, and more recently the
Union Pacific, Now. both OF them and
the Great Northern as well VIII be able
TO use the road on equal terms.
Much has been said In the papers al
over the country regarding the contro
OF the O. Il. & N. Railroad, and the
rumor that President Hill or the Great
Northern, under the general plan OF the
German bondholders, had secured con
trol, and would personally dictate tn,
operation Of the Northern Pacific. Tn,
article above, from the New York Sun
gives the true inwardness of the dea
copsummated by the Deutsche Bank o
Berlin, and the reiterated denials b!
President HIM of any intention on hi
part to run the Northern Pacific, o.
that there was any combination o.
scheme which would make II possible
for him to do so, must forever set al
rest such wildcat rumors. A specia
oablegram from Frankfort on -the-Mali