The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1901-05-14
He BLAMES THE PAPERS
Says They Are Responsible For the
Present Conditions.
THE WAR IN PAclFIcs CAN BE SETTLED
So He Declares, But the Struggle For North
ern Pacific Control Seems as Fierce as
Ever. London Brokers Cannot Buy
Shares For Delivery.
Shares For Delivery.
CBy the Associated Press.)

n,
Stock Exchange and the Consolidated
Exchange closed today and with prac-
tically nothing doing on the curb
Wall Street was very quiet. Although
the exchanges were not open for bust
ness, all the larger brokerage houses
had their clerks at work Strengthening
out the accounts Of spectators and
putting their books in order.
In the rush days from Monday to Fri
day, none of the usual MAX
ing out of customers statements was
done and it probably will be
late tomorrow night before the balanc-
ing of accounts will be finished. Many
spectators went down to await the
bank statement and get the LONDON
quotations for American securities. AL
2 p. M, Londons prices generally
showed advances as compared with the
close at New York yesterday, the eX-
IRENE rise being Is points in Northern
Pacific Other stocks generally were
up but United States Steel Common was
3-S and the preferred u lower. Illinois
Central showed decline of l IA.
All interests in the financial world re
main absorbed in the great contest fof
the control of Northern Pacific and the
rivalries that have been caused by that
battle The heavy buying in Union Pa
cific yesterday provoked much com
ment and today the street was wonder
ing whether the fight of the railway
giants was to be transferred to thai
stock again. The high price for North
ern Pacific in London today was taken
py many as an indication that buying
for control of the property was still
going on wherever the seller had the
stock to deliver. 1t was learned today,
also that at the time Kuhn, Loeb and
Company were settling with shorts
yesterday at $3.50 a share they were
paying the same price over the counter
to all who offered the securities for in
slant delivery.
Mr.. Hill told a reporter of the news
bureau that there was no truth in re-
ports circulated to the effect that he
and j. P. Morgan desired to secure
control of the Union Pacific.
A represef tative of the Hartman
Syndicate made the following state
ment today:
I'm spite of all that may be said and
printed, we stand on our assertion OF
the past few days and we believe pos
session of Northern Pacific Railroad is
now held by Kuhn, Loeb and Company.
1t may take some time to prove this
and it is even possible that some legal
trick may be devised to wrest control
from us. At this time, however, there
is no doubt in our minds that we are
in power. AS far as the Burlington deal
goes that is only indirectly involved in
the Northern Pacific controversy ano
we believe it will go through in due
time
At the banking house of j. P. Nor
gan and Company no statement regard
ing Northern Pacific could be obtained
The Commercial Advertiser prints the
following interview with j. j. Hill:
"Mr. Hill, are the troubles between
the Northern Pacific and Union Pacifis
settled?" asked a reporter.
There is no question of any trouble
now l never myself had any doubt
that in the end we should come out
all right and the trouble was not foisted
on the public by us. l do not specu-
late myself in a single share, and the
shares of the Great Northern and of
the Northern Pacific which / have to-
day shall keep, if / can, until dooms
day.
THE troubles which have been caused
by this dispute as the papers called
it, have been romented by the papers
themselves. When we who are con-
cerned can get together and talk mat
tiers over the differences will not be so
great as they appear. They will not be
impossible of settlement. But look at
the ruin that has been done"
Mr.. Hill paused and turned half
around. When he turned back there
were tears in his eyes.
II have received lots of letters, he
said from friends of mine-men and
women--who are not rich, who are COM
paratively poor. They know that / was
interested personally in my properties
and they had faith in them and in me.
Now they are completely ruined and
simply because they have been caught
in the vortex of gamble. Yet they
bought their shares in good faith.
"Mr. HILL" asked the reporter, edo
you not think that the community of
interests principle or idea is having
pretty severe trial just now?'
We'll, that | cannot talk about now.
feel too much grieved over the situa-
ton. Tuesday morning | got letter
from the wife of friend of mine, tell
ing me of the losses to her family. ]
repeat that this trouble has not been of
my making and no one regrets it more
than / do"
''Will the trouble end soon?"
Yes, If common sense prevails. Yes.
Otto A. Kuhn, of the firm of Kuhn, Loeb
G. Co.. was asked today if he had any re-
ply to make to the structures of Mr..
Hill. He replied:
mo, have nothing to say On the sub
ject whatever"
Does the firm of Kuhn, Loeb & Co
still maintain that it has control of
Northern Pacific?"
I'VE reiterate our assertion WITH posi-
tiveness that we have control of Norsn-
ern Pacific, replied Mr.. Kuhn.