Daily inter mountain. [volume] (Butte, Mont.) 1881-1901, 1901-01-05

had this to say:
Il have made no loan in Montreal
Does it not stand to reason that If
needed money l could get it without
going to Canada? No deal by which
we get control of any western line has
vet been contaminated. l will say, how
! ever. that some Of the big lines hope,
| by getting together. to reduce working
expenses. Any movement now on foot
by the railroads is simply for the pur-
! pose of economizing.''
Mr.. Hill does not state that there
is no deal under way. The announce
ment was made semi officially today,
and the information did not come from
New York source. that the big deal
| by which the Hill Morgt ockefeller
interests We're to secure control of the
Northern Pacific and st Paul roads is
practically consummated and that in
side of a month the systems will be,
in effect, one.
About three weeks ago, so the story
goes. President Hill obtained loan
from Canadian capitalists of SIS, 900 900,
and it is added that much of this money
went for the purchase of Northern
Pacific and st. Paul shares. In the
vaults of the Great Northern treasurer,
showing that this immense sum was
placed to the credit of President Hill in
the Chemical National bank of New
York city. The depositors We're, it is
asserted, Sir William Van Horn, presi-
dent of the Canadian Pacific; Il. 3.
Angus, multi millionaire and director of
the Bank of Montreal, and Lord Mount
Stephen of Montreal.
President Hill will leave for New York
next week, and it is stated that the
sole object of his visit is to put the
finishing touches upon the most gigantic
railroad deal in recent years.
The following dispatch from Chicago
seems to confirm the stoy of the deal
as it comes from ST. Paul:
Chicago, Jan. 4.-The Chronicle to-
morrow will say:
President Albert ]. Earring of the
Chicago, Milwaukee & st. Paul rail-
road. yesterday sold his 10000 shares of
stock in the road.
The line has passed into the control
of j. j. Hill, J. Perpont Morgan and
John d. Rockefeller.
Tonight Mr.. Earring enjoys the dis
tinction of being president and man
ager of company in which he does not
own single share of stock. He has
made a profit of $4,000 on his stock
and does not know whether he is to be
retained in an official capacity by the
new management.
James ]. Hill will enter on the direc-
tory of the Chicago, Milwaukee & ST.
Paul road in a few days. and within
month it will be part of continuous
line under one control from New York
to Seattle. The Baltimore & Ohio road
may be the eastern link
The big purchases made by Hill and
his supporters did not figure in the
market transactions. They We're made
outside the exchanges and in direct
dealing with the holders.
Earring was not the only big Chica-
goan to part with his stock. Marshall
Field is reported to have disposed of his
stock. amounting to 100000. The
Mitchell estate parted with
$4,000, 600 worth, and the heirs of the
late George T. Smith are said to have
disposed of 100000 more, the sale hav-
ing been made through Alexander Ged-
des, who represents the estate on the
directory of the board.
Earrings stock was sold for 5000, 900,
going off at 1852 share. The other
purchases are said to have been at the
same price. Earring bought his stock
before he became president of the road.
The total purchases made yesterday
by the Hill interest are reputed to have
been in excess of 5000 900.
The st. Paul line will pass over to
the Great Northern under a lease, it
is said, whereby the preferred stock
holders will be guaranteed per cent
common stock, per cent for two years
and per cent thereafter. Under the
lease general officers of the Great
Northern will direct the line from St.
Paul to Chicago and what changes will
take place in the consolidated manage
ment it is impossible to predict.
The Northern Pacific and the Great
Northern agents in this city received
word yesterday that the new Scent rate
in Montana would be effective on Feb
ruary l. In the local office Of the North
ern Pacific the following telegram from
Charles S. Fee was received:
"St. Paul, Jan. 4.-To w. II. Merri-
man, Butte: The Northern Pacific has
arranged to reduce their local passenger
rates in states of Idaho and Montana
from to cents per mile, effective on
FEBRUARY l next. This will make
uniform passenger rate over this rail-
way Of cents per mile."
In the Great Northern Office Major
Dawson received the following telegram
from F. I. Whitney, general passenger.
agent, dated from st. Paul:
effective February / next the Great
Northern railway and the Northern
Pacific railway will reduce the local rate
per mile between stations in Montana
and Idaho to cents. The new tariff
VIII be sent showing the changes as
soon as same can be prepared and
printed
On or about January Goth the direct
ors of the San Pedro. Los Angeles & Salt
Lake will meet again in Salt Lake at