The Coeur d'Alene press. (Coeur d'Alene, Idaho) 1892-1907, 1897-02-06
A THORN IN THE SIDE
o. u. q N. MAY CEASE TO TROUBLE
TRANsCONTINENTA ROADS.
The Northern Paclnc ReOrganiua-
ta0n Committee Has the Refusal
of German Holdings.

New York. Feb IA special cablegram
ming Post says:
THE Berlin committee of the Oregon
Railway q Navigation company { per
cent b0ndholders today declared the sale
of Oregon Railway n Navigation stock
perfect. A large majority OF 0regon Rail-
way 4 Navigation holders have ac-
eepted.''
Members Of the old Oregon Railway Il
Navigation company In this city say they
knew an announcement had been made by
the Berlin commission. but what thar an
nouncement was Iney md not know until
they saw yesterdays Dispatch They
pointed out that ss.OO0.UOO In stock men,
toned therein had not teen issued to the
committee. and that amount would not
be sufficient to control the company. The
company was doing business with three
trans-Pacifc companies. viz. the North
ern Pacific. the Union Pacific and the
Great Northern. and OF course the man
agement of the company In harmony with
those three corporations would be de-
sirable. Members % the Northern Pa
eific syndicate said that they did not
know who were the purchasers OF the
large block of securities OF that com
pany held by the syndicate which had
been sold to J. Pierpoat Morgan They
expect to close up the whole business of
the syndicate In two or three days. The
| members received notice from the man
| ayers calling upon them to turn in their
pro rata share OF 100000 OF the shares Of
| Northern Pacific common and 300 Of pre-
ferred stock.
All Friction VIII Cease.
New York. Feb. Accommodating on the
foregoing the Evening Post says:
Capitalists Identified with the Northern
Pacific Railroad company members Of
the underwriting syndicate and Of the re-
organization committee. a. well as others
connected with the Oregon Railway 4
Navigation company. frankly admitted to-
day that a large block Of the stock OF
the last named company had been pur-
/ chased from German holders. They said
that the stock so purchased. together
with that the purchaser already held,
will give them (the owners Of tho new
stock) control of the Oregon Railway 4
Navigation company and insure Its being
maintained as independent property and
/ operated In harmonious relations with
| the Northern Pacific. tho Great Northern
and the Union Pacific railways.
| There viii be no diVsrting OF tFAffic
| from ons road to another. and no cutting
| Of rates by either OF the three roads
named. but all will work in harmony with
the Oregon Railway 4 Navigation com
i pany as the feeder for all three on equal
terms. By this arrangement all danger
| OF any one particular interest securing
control Of tho Oregon Railway 4 SaSi-
CATION company for the purpose Of TAX
| Ing away business from any one Of the
roads named Is done away with. the pGr-
chasers OF the stock being equally Inter
ested In all Of them A. one we'll known
man put Il today;
instead OF the three roads all running
| trains at the same time in territory served
| by all. and all three trains Only half full.
/ you will see a sensible. Harmonious and
| economical management OF all three roads
| with a better service for the public and
/ operating expenses within proper limits. 20
The members OF the 81. 900. 90 syndicate
which underworld the securities Of the
new Northern Pacific company heartily
| approve of tho transactions. That syuii-
cate Is about to DO closed up. and this
members now only await the account
thereof from Mr.. Morgan. member Of
the syndicate said today there we're few
OF the securities now remaining In their
hands. and those they could sell tn ave
minutes At good prices. The syndicate
will net a profit Of about per cent on
| their investment.