The sun. [volume] (New York [N.Y.]) 1833-1916, 1901-11-24
OFFER BY $4oo,ooo,ooO co.
or $50 FOR OUTSTANDING GREAT
NORTHERN AND SII5 FOR N. p.

0S Per Cent. Of C.. ID. q q. Already Dc
iyered 70 Great Northern and N. p.
Harmony Combin Directly Involves
]O,S36 Miles Of Road and Two
and . Half Billions In Securities.
President James j. Hill Of the Northern
Securities Company, and Of the Great
Northern Railroad, issued q circular yes
terday announcing that the new $500 Co.,
900 corporation was receiving deposits
OF stock from the Great Northern and the
Northern Pacific Railroad companies. In
behalf Of the Northern Securities Company
President Hill said:
A uniform price has been paid of $3.50 per
share, In the fully paid stock Of this COM
pany at par. This company is ready to pur-
chase additional shares Of the same stock
at the same price. payable in the same manner.
and will accept offers made on that basis
II made within the next sixty days.
Offers for sale OF stock OF the Great Northern
Railway Company should be made upon the
enclosed form and should be accompanied
BY the certificates OF the stock offered with
transfers duly executed. having United States
stamps for transfer tar Of two cents per
share af1red.
Upon receipt Of any such offer. 20 accom-
panied. the Northern Securities Company
viii deliver to the seller Of the stock Of the
the Great Northern Railway Company. GER
tifcates Of It's own stock 70 the amount Of
the purchase price above named. or. II such
certificates are not then ready for delivery
its negotiable receipt obliging II to issue and
deliver such certificates as soon as ready. For
fractional parts OF shares scrip certificates
convertible into stock In multiples Of 500 will
be given
There Is authority for tho statement
that more than 90 per cent. OF the stock
~ tho Graat N1rtho- p.IIr1ol q. .l~-.l-
In hands friendly to Mr.. Hill. The Northern
Pacific Railroad Company will issue a
circular early In the week calling on its
holdings with tho No rthen Securities |
Company on the terms Of Sis for each
share Of the common stock. The pre-
ferred stock Of the Northern Pacific Com
pany will be exchanged at par on Jan. 1, |
1902. for bonds onvertible into common |
stock. and inssmuch as nearly all Of the |
Northern Pacific preferred stock is owned
by the Morgan. Hill and Hartman inter-
ests, there Ia every reason TO believe that
this preferred stock will speedily be turned
over to the Northern Securities Company.
From the main Office of the Chicago.
Burlington and Quincy company comes
the statement that es per cent Of the SILL
100000 stock OF that company has been
delivered TO the Great Northern and North
ern Pacific companies. |
Since the formation Of the Northern
Securities Company and the harmonious
agreement reached between the Morgan
and Hill railroad interests on the one side
and the Union Pacific and Chicago and
Northwestern interests on the other side,
there have been calculations from different
OF view OF the extent Of railroad
control represented by the parties interested
In this agreement. The roads directly
Interested in this harmony agreement, with
their mileage, stock capital and bonded
are shown In the following
table:
Roads. Mnsa0. tSfoeks, Boofs