New-York tribune., 1901-05-12
GIANTS STILL CONTENDING
APPARENTLY NO CHANGE IN THE
NORTHERN PACIFIC SITUATION.

EACH SIDE STILL CLAIMING vICTORY-MR.
MORGAN AND UNION PACIFIC.
No change occurred yesterday in the Northern
Pacific situation. Both the HiIl-Morgan and
Hartman Kuhn. Loeb interests continued to
claim control OF the property. but 1t will prob
ably be several days before it can be definitely
ascertained which party has secured the
jority of the stock. although Wall Street still
leans TO the belief that Mr.. Morgan and Mr.. Hill
have succeeded in retaining possession Of the
road.
representative of the Hartman syndicate
yesterday made the following statement:
In spite Of all that may be said and printed to the
S we stang @ on our asseroon .. ehe Nth st lew
Pacific is now held by Kuhn. Loeb & co. 1t may
BE that some legal trick may be devised 70 wrest
no doubt in our minds tina that WE are in power AS
far as the burlington deal goes that Is only indi
rectly involved IN the Northern Pacific controversy,
and we believe 1t will go through in due time
The report that Mr. Hill and Mr.. Morgan
were contemplating the acquisition of control of
the Union Pacific in retaliation for the effort Of
the Union Pacific interests to secure control Of
the Northern Pacific emphatically denied
yesterday by Mr. Hill. who said: There is
nothing in that story at ALL" Leading Union
Pacific interests also declared that they did not
attribute the recent advance in the stock TO
any move on the part OF the MOrgan-Hlll party.
The Union Pacific people apparently not
worried by Mr.. HilTs opinion Of their course.
Their position is that in seeking to obtain con-
troll of Northern Pacific they themselves acted
in self-defence, as the acquisition of the Bur-
lington by the Northern Pacific and the Great
Northern placed the Union Pacific in an ex-
tremely Instantaneous position. BY that
move. they urge. the two Northern roads would
gain an independent entrance into Chicago and
also tap the central territory in which the
Union Pacific and the Burlington cOmpeti-
tors. while the Union Pacific extends eastward
only TO the Missouri River. Their attempt 70
buy control OF tina Northern Pacinc, they IN
sist. did not have IN view any purpose or GRIP
plng or wreCking that road, which parallels
the Union Pacific at a distance OF several nun
dred miles, but was undertaken simply Tor the
purpose of safeguarding the interests or tne
Union Pacific, which, in controlling the North
ern Pacific would have equal voice with the
Great Northern in the operation or the Bur
lngton. -
Street is the attitude Of Mr.. Morgan toward the
Union Pacific in case il shall prO-e that he stll
holds the Northern Pacific Mr.. MOrgans policy
in railway management has always been con-
structive and not destructive. He Is not
wrecker And so II is the feeling in the Street
that he would grant reasonable concessions 20
the Union Pacific, the apparent alternative pc
ing far reaching and disastrous warfare. Gable
advices from Paris TO The Tribune are that Mr.
Morgan has engaged passage on the Kaiser
Wilhelm der Crosse, leaving Southampton on
Wednesday, but that IL Is not unlikely that not
Mr.. Morgan himself but his son. may occupy
the rooms. Mr. Morgan said yesterday morning
in Paris that he had not yet maCe up his mind
whether or not he would return at present 10
New-York At the Office of j. P. Morgan q co:
yesterday afternoon. member OF the urn sala
that IL was not known Just when Mr. Morgan
would come home. adding that he usually re-
turned in June.