The Hawaiian star. [volume] (Honolulu [Oahu]) 1893-1912, 1901-05-10
FINANCE TNANS At WORK
KEEN STRUGGLE TO OWN UNION
PACIFIC.
Morgan Buys the Leyland Line Of
lips Maintains His Corn Corner.

NEW YORK. May "A battle of
financial giants is on for the control of
the Union Pacific system. 1t is the
Vanderbilts against Hartman and
Gould.
Discussing the Union Pacific situa-
tion. the Mail and Express has the fol-
lowing; From the current tremendous
market movements IN Union Pacific and
AtchisoD-big advances occurring in
each today-it became clear that a
fight is going on between great money
interests over the establishment of
transcontinental systems. 1t now ap-
pears that this fight centers around the
plans of George j. Gould and r. II.
Hartman to establish vest network of
roads from the Atlantic to the Pacific
Ocean. William X. Vanderbilt and the
Pennsylvania Railroad people. seeing
what was up. have made up their minds
to Illustrate them.
NEW YORK, April 30.-Never before
in the history of the Stock EXCHANGE
did the volume of business transacted
even approach that of today. The
number of shares sold was 1886, 400,
which is more than 100000 above the
previous high record. The total sales
of bonds were S6,2SS 900, which is also
record breaker. The intense activity
displayed by Americans was continued
in London.
LONDON. April 29.-The first step in
the direction of the consolidation of
some of the biggest transatlantic ship
ping interests has been accomplished by
the purchase by j. Pierpont Morgan q
Co. of the Leyland line of steamers.
LONDON, April 30.-A circular was
issued today by Chairman Ellerman
of the Leyland line announcing a pro-
visional contract with j. Pierpont Nor
gan for the sale of his entire HOLDINGS of
ordinary shares in the stmeaship line
| no ,s.Ix Oh,
share for each e10 share, and Morgan
! agrees to purchase on similar terms all
ordinary shares offered before May
26th Holders of a great majority of
the ordinary shares, according to the
circular. have intimated to Ellerman
that they will avail themselves of the
offer, and the effect will be that the
purchaser will become the owner. of
practically all the ordinary shares of
the corporation at a cost of upward of
e1, ,750 900.
| A meeting of the shareholders has
been called for May 7th.
The Leyland line deal provokes un-
usual discussion In the Err papers.
which reve"'T the existence of not a
| little apprehension as to the possibility
of the United States DON'T ting the
Atlantic carrying trade. The general
/ impression. however, is that the trans
/ fer is connected with the probable pas
| SAKE DS lnt united ElANeS oenAIf OF q
! subsidy bill 1t is considered thar the
! terms &C the transfer are so profitable
to the Leyland people that there is be-
lieved to he no question of their accept
ance, an dthe other shipping company
would pladly sell on the same terms.
CHICAGO. May 2.-Mav corn touched
So cents today. the market slipping
from so cents to So cents easier than
! from 4S% cents to so cents the day pre-
ViOuS. Five, cents advance in an hour
did not seem to change the situation
at all. did not seem to increase the sup
My in the pit. did not swell Western Of
ferings, did not enlarge the arrivals at
this point. The so cent prediction by
George II. Phillips, so long consideISJ
eXtravagant, was forgotten. Even
Phillips seemed to have forgotten It.
He was talking so. There was a yield
ing from the top price Just before th'
i close. May, which had started at so
and which had touched So cents, CLOSED
at 531a cents.