The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1901-11-05
The Harriman-Hill Interests
Agree on a Truce.
TERRITORY SPLIT UP
Each of the Big Systems Will Con-
troll Certain District.
THE COMMUNITY" IS FORTIFIED
Status of the BurIinGtOn's Salt Lake
Extension Is Not Yet
Announced.

| w. K. Vanderbilt's arrival in e'hl ago
from the east to-day is awaited befo. DC
official publication Of the final settlement
OF the Hartman Hill controversy is made.
1t is understood that an agreement has
been reached favorable to all parties
which precludes all possibility Of further
friction between Union Pacific and the
Morgan Hill interests.
What will be Of special interest to the
west is that this agreement names the
territory in which each of the big lines
shall have exclusive control. Whether
this ends all plans for the extension of
the Burlington to Salt Lake Oity has not
| been announced. Where Senator Clark 8
Salt Lake City and Los Angeles road
stands in this readjustment of conditions,
is the cause of much speculation Sena-
! tor Clark has been party to the New
York conference under the protecting
wing of James ]. Hill and assisted by
Dan S. Lamont of the Northern Pacific
Community" Is strengthened
The new agreement indicates that the
clamps around the community OF interests
idea have been frightened. The under
standing as to how far each of the big
western roads shall go "and no farther"
is evidently much clearer in the minds of
the big magnates than ever before. The
element OF competition in the handling of
traffic is much farther in the dim distance
than at the first OF the year. Shippers
and producers of the west in these days of
advancing rates and readjusting classih-
cation are deeply interested in the out
come. The new deal means much to the
big fruit and timber interests of the
cast as well as to the grain and stock
interests of the middle west.
The New York conference had to deal in
the main with the interests of the Union
Pacific, Great Northern, Northern Pacific
and Burlington. Incidentally the Wander
bilt interests as represented in the Chi
eago North Western and-to some extent
In the Chicago, Milwaukee & st. Paul
were not forgotten. Senator Clark of
Montana, who proposes giving the people
OF California new route east for their
porducts, had big interests at stake ]
Pierpont Morgan has been the greatest
influence in the conference:
Basis of Agreement.
Inc compromise agreement to which
James ]. Hill, E. H. Hartman and Kuhn
Loeo & Co., representing the disturbing
elements In the situation, are PARTIES in
cludes the formation of a secur,+v co,,
pany OF which Hill will be the president.
The directory will include the Hartman
ana huhn' Loeb &, Co. party and the or-
ganlzat1on will embrace all of tho stool,
ana bonds Of the Northern Pacific Graa+
Nordhern and Burlington RAILWAYS Tba
Union Pacif1c's holdings Of Nortbern D.
ZINC common stock will give it one-third
interest in the company.
All OF the companies will bava o11o++oa
70 them a certain territory in which -
control traffic SO that there will be no CON
hict on that score.
Northern Pacific preferred stoo1, 1,,,,. =
retired by AZ per cent bond on basis
Oh 10 to l2O. No change in the amoun+
or denomination values other than tbie
will be made. '"-1N
fne Chicago North Western in which
MI. vanderbilt is the dominatino ~
Huence, was represented bv Mr. ,r,r,r,
DieS. ne is said to have insisted that Mr..
vanderbilt should be consulted before tho
arrangement of the final details and thts
is being done.
a Hot Struggle Ended.
This =.
struggle which began early in the wear
Ihe ambitious scheme Of E. H. Harrin,on
OF FORMING transcontinentaI line of rood
was the starter. He began work on the
Union Pacific. in which the VandarhiI+s
had large interests, but which thew did
not control. He secured the Trnior D.
CHIC and through that obtained control Of
the Southern Pacific, which gave him q
line from Omaha to the coast. Tn tbiv
he was aided by Speyer & Co. Of New
York, although Kuhn, Loeb &, Co. 6nan.
clered the deal. Later he secured control
OF the Chicago & Alton and brought tbs
Illinois Central system into his combina-
tlon' IN addition to this he secured the
cooperation of the Goulds who own the
missouri Pacific and the Wabash This
gave him an entrance to the Chicago
gateway over several lines.
When Hill Got Busy.
James j. Hill in the meantime awoke to
the situation. He saw in 1t an attempt to
make the southwestern lines and the
Union Pacific the great highway for west
ern commerce to the detriment OF the
lines OF the northwest. His first move
was to secure Chicago connection. Con-
troll OF the Milwaukee could not be pur-
chased in the market, but he finally Sc
cured the Burlington. He then bought
largely OF Erie and in that manner Sc
cured the cooperation of ]. Piernont MOI.
gan Hartman retaliated by buying