The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1899-07-18
STORY IS CONFIRMED.
What the Passing of q. X. & n. Control
to the yanderbilts Means.

The news published in the Standard
Saturday morning that the control of
the O. r. & n. had passed to the Union
Pacific and the Nanderbilts was a scoop
on the big New York papers the Wall
Street Journal being the only paper in
that city to have the news as early as
Saturday morning. Wiring to the Spo-
kane Spokesman Review concerning the
story the Wall street correspondent of
that paper says:
THE story is fully verified to-day by
the deciding to dissolve the voting trust
under which directors are now elected
and which has been in force since the
company's reorganization. The direct
ors simply turn the property over to the
common stockholders of the Oregon
Short Line and the Union Pacific pre-
ferred stockholders, namely the Great
Northern and the Northern Pacific, can
not longer elect two-thirds of the board.
Though they control the majority of
the preferred stock they will have very
little to say about the company's af-
fairs.
The Importance of this step is OBJ
vious 1t places the Union Pacific in
direct control of the o. r. & n. and in
sures the election of a board at the
next annual meeting which shall be in
entire harmony with the Union Pacific.
AT present there are several represen-
tatives of the Northern Pacific on the
o. r. & n. board, also representatives
of the Great Northern. Up to the pres
ent time the Oregon Navigation COM
pany, through the voting trust, has
been run more or less in the interests
of the Great Northern, Northern Paci-
fic and Union Pacific jointly Hence
forward the company will be owned and
managed mainly in the interests of it
self and the Union Pacific and only in
the interest of the other companies so
far as their interests are in harmony
with those of the Oregon Navigation
and Union Pacific.
This action knocks silly the stories
about a Great Northern Northern Pa
cific alliance. If the Northern Pacific
and Oregon Navigation could not pre-
yiOusly settle the Clearwater row they
certainly have no decent, chance of do
ing so now. Nothing in the nature Of
a settlement is in sight nor expected.
Last spring the companies agreed to
differ on several important points, re-
stricting the differences as far as pos
sible to the actual territory in dispute.
Such club-footed agreement means
nothing. There is only one interpreta-
ton of the Oregon Navigation's last ac-
ton, namely, that the company feels
the time has come for it's owners to
elect an entire board of directors. The
Northern Pacific directors will be asked
to step out.
"As far as the Great Northern is con-
cerned the situation Will be unchanged
as Hill has been in sympathy with
Mothers actions in the Clearwater mat
ter. Mohler can now proceed unhamp-
cred and that is what he will do. The
Oregon Navigation and Northern Pa
cific are getting into each others terri
tory now and every days construction
brings their purpose farther apart and
their rails nearer together. Mr.. Ken
nedy, though a large stakeholder in the
Great Northern, is not director and
his election to the Northern Pacific di
rectory will not ease the Clearwater
agony one iOta.
The Vanderbilts and Goulds, Atchi-
son and Southern Pacific, Southwest
ern lines and others are proceeding
with their work of concentration, alb
sorption and cooperation and only the
northwestern lines seem to be having
serious trouble with one another"