The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1900-12-24
IN CONFERENCE.
Leading Capitalists of the Coun-
try Meet in New York.

New York, Dec. 24.-The Herald says;
James J. Hill, president of the Great
Northern railway company, has arrived
in this city and was in conference Sat-
urday with some of the most import
ant capitalists of the country, represent
ing Morgan, Vanderbilt and Standard
Oil interests.
Mr.. Hills presence in the city is re-
garded as of peculiar interest in view of
the recent stock market activity in
Northern Pacific with the accompany
ing reports of a reimbursement of the
capitalization of that company, and his
recent election also to the directorate
of the Erie railroad, the shares of which
have also been exceedingly active in the
market
From inquiries it appears that Mr..
Hills visit is of a special nature and will
be brief. Attempts made to see Mr..
Hill proved unayailing, as were also at
tempts to reach other prominent finan-
ciers identified closely with such prop
critics as the Great Northern, Northern
Pacific, Chicago, Milwaukee & st. Paul
and the Erie roads.
Harmony of interest and community
of ownership is the bee that buzzes in
every Wall street bonnet at present,
and the suggestion is made that this
theory may be extended to properties
which, while not recently regarded as
disturbing factors, might become so in
hands other than those now represent
ing the control.
Among SuCn properties are the chi
cago, Milwaukee & st. Paul and the
Erie railroad The latter it is said,
has great potentialities, particularly
since il has acquired the Pennsylvania
Coal company and seems likely to as
sumo an important position among the
trunk lines.
1t is asserted upon the very best au-
thority that three principal stockholders
in the Great Northern railway, namely,
James J. Hill, John S. Kennedy and
Lord Strathcona, are now the three
largest stockholders also of the North
ern Pacific road. Lord Strathcona and
the Great Northern. The former is a
director and a member of the executive
committe of the Canadian Pacific and IS
of great influence in Canadian affairs
It appears as though harmony of in
terest in the northwest is now complete
through these great interests and those
of Mr. Morgan in these properties, Great
Northern, Northern Pacific and Cana
dian Pacific.
In view of this situation, Mr.. Hills
election to the directorate of the Erie
railroad and recent purchases of the
Chicago, Milwaukee & St. Paul are of
considerable significance. The stock of
the latter company has been steadily
acquired by powerful interests, not far
removed from those that have recently
bought into the Northern Pacific.
One peculiar fact is that while the
stock. selling at a relatively high price
and bought presumably for investment,
in furtherance OF some great plan,
is being picked up continually, it is now
being transferred on the books of the
company. This leads to the belief that
it is being gathered in for some great
purpose to be made clear later on.
BY persons well informed on the rail-
road situation, it is said that a trihe
more than one-half the common stock
of the St. Paul road is represented in the
board of directors. 1t is said also that
this is not necessarily a fixed interest,
and that some one large holder, the
Standard Oil, for instance, uniting with
the new purchasers, who may for Illus
tratiOn be assumed to be James J. Hill,
John r. Kennedy and J. Pierpont Nor
gan & Co, the latter of whom already
has a considerable holding, might give
absolute control of that property.
In well informed banking circles the
belief prevails that the great announce
rnent to be made in railroad circles in
cludeS this proposition:
Entire harmony Of interest in the
northwest between the Great Northern,
Northern Pacific and Canadian Pacific,
and through community of ownership
an arrangement with the St. Paul road
in the middle section and the Erie rail-
road to tidewater, the eastern outlet to
be used in much the same manner as the
Lake Shore and New York Central are
by the Northwestern and the Union Pa
cific.
That in addition to this something is
to be done in the line of a readjustment
of Northern Pacific securities is the be-
lief in Wall street. In connection with
the matter various plans have been sug-
evidence that something of the kind is
under consideration.