The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-05-12
Some others Bought Their Shares in
Good Faith and Were Caught
in the Terrible Vortex.
TEARS IN MR.. HILLS EYES
As HE SPOKE OF THE RUIN THAT
HAS BEEN WROUGHT.
Says There VIII BE No More Trouble
III Common Sense Prevails
Northern Pacific Control.

NEW YORK, May 1.-THE Commercial
Advertiser prints the following interview
with James j. Hill:
''Mr. Hill. are the troubles between the
Northern Pacific and the Union Pacific set
tled?" asked reporter.
There is no question of any trouble. l
never myself had any doubt that in the end
We should come out all right. And the
trouble was not foisted on the public by us
did not speculate myself in a single share,
and the shares Of the Great Northern and
the Northern Pacific which 1 have to-day
shall keep, if 1 can, until doomsday. The
troubles which have been caused by this
dispute as the papers called it, have been
fomented by the papers themselves. When
we who are concerned can get together and
talk matters over the differences will not be
so great they appear. They will not be
impossible of settlement. But look at the
ruin that has been done"
Mr.. Hill paused and turned half around
When he turned back there were tears in
his eyes.
Il have received lots of letters" he said,
from friends of mine-men and women
who are not rich, who are comparatively
poor. They know that 1 was interested
personally and largely in my properties,
and they had faith in them and me. Now
they are completely ruined, and simply be-
cause they have been caught in the vortex
of gamble. Yet they bought their shares
in good faith
"Mr HILL" asked the reporter, do you
not think the community of interests prin-
ciple or idea is having a pretty severe trial
just now?"
We'll, that / cannot talk about now.
feel too much grieved over the situation
This very morning / got a letter from the
wife of a friend of mine telling me of the
losses to her family. 1 repeat that this
trouble has not been of my making, and no
one regrets it more than 1 do"
'Will the trouble end soon?''
''Yes, If common sense prevails; yes"
All interest in the financial world re-
mains absorbed in the great contest for
the control of the Northern Pacific and
rivalries that have been caused by the bat
tie. The heavy buying in Union Pacific
yesterday provoked much comment and to-
day the street" was wondering whether
the fight of the railway giants was to be
transferred TO that stock again. The high
price for Northern Pacific in London to-
buying for control of the property was
still going wherever the seller had the
stock TO deliver it. 1t was learned to-day,
also. that at the time Kuhn, Loeb & Co.
were settling with shorts yesterday at $50
a share they were paying the same price
over the counter to all who offered the Sc
curities for instant delivery.
j. J. Hill told a reporter of a news bureau
+I,t
ports circulated 10 the effect that he and j.
Pierpont Morgan desired to secure control
of the Union Pacific There is nothing in
the story" said Mr.. Hill.
A representative of the Hartman syndi-
cate made the following statement to-day:
I'm spite of all that may be said and print
ed TO the contrary, we stand on our as
sertion of the past few days, that we be-
lieve possession of Northern Pacific Rail-
road is now held by Kuhn, Loeb & Co.
1t may take some time to prove this and
it is even possible that some legal trick
may be devised TO wrest control from us.
At this time, however, there is no doubt
in our minds that We are in power As far
as the Burlington deal goes that is only
indirectly involved in the Northern Pacific
controversy and We believe it will go
through in due time
At the banking house OF ]. p. Morgan &
Co. no statement regarding Northern Fa-
cific could b. obtained.
Otto II. Kuhn, of the firm of Kuhn, Loeb
& Co. was asked to-day if he had any
reply to make TO the structures Of Mr.. Hill.
He replied: mo. 1 have nothing TO say on
the subject whatever Does the firm Of
Kuhn, Loeb & Co. still maintain that it has
control OF Northern Pacific" was asked.
1--WE reiterate our assertion, with posi-
tiveness, that We have control Of Northern
Pacific" replied Mr.. Kuhn.