Barre evening telegram. (Barre, Vt.) 1898-19??, 1901-10-16
Hills LATEST SCHEK
Consolidation of Great NortheE
and Northern Pacific.
TIE GREATEST OF CoMB1HM

J Corporation Said tn Be Forming g.
Control the Securities Of Two ceaass
Transcontinental Lines-stocx e.
vances Upon the Circulation eG t1l.p
Report In Wall Street.
The greatest net gain scored BY 9E
one stock in single day for the HE.
few weeks, says the New York TEas-
rne, was made by Great Northern nzEs-
ferred, which advanced s poinfxr tzs
1861, on reports that a plan had hs.rzr
practically decided upon for the foRnnsr~
ton of corporation which should ezh--
troll the securities of the Great NoEttr-
ern and also Of the Northern Paes1rs-
Northern Pacific preferred and UuAlEi
Pacific were also conspicuously strinxsss.
the former making net ADVANCE e.
~ points and the latter Of "a.
The terms on which it was ruElrH&
the proprietary corporation would TIM
over the stock If the Great Norin4-s
and Northern Pacific were 200 fox slk%
Great Northern and 1875 for Norsiszs
Pacific common, the last recorded srias
of the latter stock having been at tts--
It was also said that F. "a UnderwuuA
was soon to retire from the presiderxr
Of the Erie Railroad company, to wba1c
road he came few months age E,aE-
the Baltimore and Ohio and wouM .ss-
come one of the principal operating 81
ficers Of the proposed new company.
This report was widely credifa7 W..
the street and received virtual GIN
frmation. 1t was Mr.. Hill who pIIesel
Mr. Underwood at the head or slss
Erie road, and in Mr.. Hills opin.atE- H.
is understood, the present Erie ens-E
tive combines in more marked tsyrp.a
the elements of practical railEasaf
man and financier than any other nIar
Of his acquaintance. 1t was rerU&eA
also down town that Mr.. Hill wvs7AI
re tire from the presidency of the Gran.
| Northern before many months b, tas1r
the craftsmanship of the poari AN
that Mr.. Underwood would then sus-
coed him in the presidents chair. -
The story about the plan for urgaax-
Ing proprietary company to hold fin
control Of the Great Northern aM1
Northern Pacific stocks lacked sp<ia.
confirmation. Morgan interests denBE
it in general way, but added thl. Ags
nificant remark that there was n,tllzEE
III the report-yet. The fact seenlx w.
be that company has been forn1syi w.
take over the control Of the Nrza=
Northern stock. but that no decixJMx
has yet been reached as to- traMffes~
ring the Northern Pacific stock tD~saeta
company. 1t is illegal in some -
the states through which the two nxS,E
pass for any railway company tn uwz
the stock of competitor and this pzA-
hibition. it is suggested, may extsak
even to the case of company tnrnasE
to hold the shares of two competing
lines. The proprietary compapN4 ~
ganized and If including the Nort3xz1a
Pacific. would offer it's own securSfi<ss
to the public, tlHs releasing an HR=-
mense amount of capital which EHa
been for months locked up in sans
Northern Pacific.
The titanic struggle between the sIxA
gan-Hin and Hartmann Kuhn. L,eis NJ
Co. interests for control Of the Nsrtfs-.
ern Pacific, with its $SOOOO.OO0 ,-nz-.
mon stock and $75,OOOOOO preferr.E,
contest which swept the market {uMs
of the common stock and which clsiYxrs
mated in the Northern Pacific cor..s."
of May 9, is still fresh in the public .ssr-.
objection. Absolute control of the BG.r..
lington having been purchased ttgvlts
Great Northern and Northern Pa1%
jointly. the position of the Upy~ r.
cific became menaced, as tha-s -
ton largely paraIleled it inyiy om'.
ritory and, in addition, .h.e -.
with the Mas' ,bern - -
1t Billings, Mon. Cont oil Of the NJ
arn Pacific would " ,viously giys. rte
Union Pacific an cFlual voice Wits rtYn
Great Northern IA the direction ~ r,sx
policy. and Interests favs,
y ldehtlhed with the Union Paeaxe
therefore undertook to secure tnsyAss7-..
fol' an aim strenuously combaipa In,
he Morgan interests.
Al the END OF the great contest in .tx
'ocE market 1t was generally u.i.s,
tood that MIR. Hartman and hiss,<s.
lates had succeeded in purchas
aaJorlty of the entire capital stn.x -
ne Northern Pacific, or something m
xcess of $T7,500,0O0 par value. Or
nat Mr.. Morgan and his friends liehr
controlling interest in the $SO,OWDQs
common stock. ~,