Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1901-11-28

over ~ 0UO,u oil JU.ut Do..u. ". 4...
purchasing companies, bearing four per
cent, interest and the exc hange OF these
at the rate of two hundred dollars in
bonds for one hundred dollars in Bur
Ington stock transferred over ninety
il per cent of the latter to the joint own
Crshlp of the two most northerly trans
continental lines OF the United States.
President Hill was at that time, as he
Is today. in complete control OF the
Great Northern whilst believing that
through J +. Morgan he could also die
tate the policies of the Northern Pacific.
The Union Pacific which had itself re-
Gently absorbed the Southern Pacific.
felt that its interests were being mena-
ced through the absorption by its two
northern rivals of the Chicago Burling
ton and Quincy. This could only be
remedied by obtaining a voice in the
management of the G.. i. & G. which
was only possible through the securing
of control OF Northern Pacific BY
means of most adroit manipuations
Union Pacific it is supposed secured
sufficient common and preferred stock
combined To constitute an actual ma
jurity, This point is yet in dispute and
the last few weeks.
in order to bring about some settle
mcnt of the matter a board of directors
has been selected by Mr. Morgan con-
tanning representative of all interested
lines as well as of the contestants
The chief point for this board To decide
is in regard to it's power to retire the
preferred stock of the Burlington. in
which case the Union Pacific would
cease to hold the majority.
II therefore happr'.s that the two
great interests now hold control Of all
Che lines coming east from the Pacific
with the exception of the Atchison, To-
peka and Santc Fe and the Great Nor
thcrn. Those two compact groups OF
capitalists expect eventually to control
these also have very good chance
OF doing so.
The Union Pacific interests absolute
ly contdol 5.556 miles of tracks; the
Southern Pacific 9.4i4, Oregon Short
Limo 1873 miles and the Oregon Rail-
way and Navigation company l.l36
making total of l75T4 miles. The
same interests own more than half of
the voting securities Of the Northern
Pacific, operating 5,6i9 miles of road
and through this corporation can ex-
orcise Jointly with the Great Northern
control of the Burlington. with the
control OF the Northern Pacific, the abb
so,utc control OF which ii is within
the power of the Union Pacific TO OBJ
tain 23223 miles of railway Centoring
on the Pacific coast come under the
same management. making a grand to-
tai vt over 10000.
AZ thn present moment the 1asduieS
of these roads rest entirely in the hands
.or little group OF men, scarcely over
q dozen in number all holding ce,ces
in Wall Street and nearly all so ag-
grcsstyoly inclined that we're they not
held tn check by some strong hand
there might be a condition in the strug-
sic developed which would mean the
loss of millions OF dollars 10 the stock
holders while the properties them
selves might be thrown into a chaotic
condition.
The man who is responsible for hav-
ing held these hostile forces together
thus far, the man who really stands at
the helm in this great crisis OF the
trans-rOutineutal transportation inter
csts OF the country is j. PierpOnt Nor
gan. Il is Morgans power over and
connection with Hill which viii assure
. final settlement Of this dispute with
out bringing about railroad war or
I amy Of the disastrous methods by which
( tinancicrs seek 70 be avenged upon one
another
( Ii is well-known that Morgan plans
the consolidation OF all these roads and
the affecting by this means OF the big
gest consolidation OF railroad interests
ever attempted
! Experts have been figuring night and