The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1899-07-18

| pears very bad and may develop open
| hostilities a any time. In the face of
| this talk about an alliance is absurd.
| The activity in Northern Pacific stock
| is not due to any such alliance ideas
but because of the inherent strength of
the stock, prospects of good annual
report and President Mellen's suppos-
ed attitude regarding dividends.
In regard to the rumors of other re-
ports of alleged railroad alliances a
well known official said:
The tendency of the managers of
the great railways to-day is to make
friendly alliances which will prevent
ruinous competition, but not to actu-
ally consolidate the companies. 1t is
much easier to secure an understand
ing with a rival that each others rights
shall be respected and rates fair to the
companies and the public shall be
maintained than it is to carry out a
plan for the consolidation of the rail-
roads under one management. One of
the inevitable results of the great rail-
road combinations would be adverse
legislation. The railroads suffer too
much from that to-day to deliberately
pursue a policy which would increase
their troubles"
Northern Pacific stock is advancing
on account of a reported change of at
| titude by President Mellen regarding
| dividends. 1t is said that he believes
| the time has come when something
better might be done on Northern Pa
| Cific common. If this is so it is the
| best possible evidence that conditions
| justify something better since Mr.. Mel
lens policy has always been to first
spend all the money needed to main
tain the highest standard of physical
excellence, then reach out for new
territory to keep in touch with grow
11xr 70 II aS
liberal as possible in the matter of divi-
| dends He has observed this policy I'M
swervingly. Beside keeping up improve
ments on the broadest scale, he has
| urged the building of extensions on the
| coast Manitoba and other sections that
promise earliest and best development.
| Some of these are now under way, the
most important being the Clearwater
| line. Mr. Mellen knows better than
| any one else just what the property is
| doing and is able to do, and If he be-
| lieves the common stock is entitled to a
better basis than 2 per cent. he must
| be satisfied with it's present and conti-
| dent of its future. At the December
| meeting the conservative element on
the board will likely consent easily to
an extra dividend or a larger one I'M
| less some extraordinary misfortune
overtakes the property in the mean
| time
President J. J. Hill of the Great
| Northern, on being asked if he was in
any way interested in the Wisconsin
| Central, replied that the story was pure
| fiction. Il have not a cents interest in
| the road" he said. There is not
| enough truth in the story to put on the
| point of a fine cambria needle"
Have you any stock in the Wisconsin
Central or other financial INTEREST,"
Not a penny
Are you entertaining plans for a
transcontinental lne?"
Never thought of such thing The
whole story from beginning to end has
not even the foundation for truth
Mr.. Hill said it was absurd to print
such stuff. There was not the slightest
truth in the story that he would con-
troll the Wisconsin Central or that he
contemplated a great transContinental
line He made it quite clear that he
did not like the stories connecting him
with any other road than the Great
Northern.
The Minneapolis Times stated last
week that efforts of President Hill to
acquire control of the st. Paul q Du-
luth road would be combatted by the
Northern Pacific Should President