The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-11-07

AGREEMENT IS RE5eHED By MIR.
y. j. HILL AND THE HARRI-
MEAN sYNB1CATE
WILL PERFEeFPIAN AT ONCE
All interests to Have Representation
In the New Stockholdfng
Company That Is to
Be Formed.

NEW YORK, Nov. B9The Times tomor-
row will say: The main points in the
settlement of the Northwestern railroad
tangle have at last been agreed upon.
This statement was made yesterday by
a member of the arriman syndicate, and
a member Of the Hartman syndicate, and
Great Northern railroad Many minor
details remain unsettled. however. and it
is possible some of the main features
may be slightly modified. It Is expected,
nevertheless. that the plan in its en-
tirety will be completed by the end OF
the present week.
The principal features of the settle
ment plan are the Reorganization Of the
stockhelding company and the decision
not to retire the Northern Pacific pre-
ferred stock The latter proposition was
the one on which centered the major
part OF the discussion. ana, 1t is stated,
that contention of the Union Pacific in
terests that. permanent peace could only
be obtained by due recognition of their
rights. finally won.
II the new stockholding company by
which the various stock issues are to be
funded. the former scontending interests
will be equally represented. The North
ern Pacific directors will meet next week
to act on the dividend and they probably
will consider this question in its relation
to the settlement.
Regarding the reported settlement the
Journal of Commerce win say tomorrow:
Details Not Given Out.
An authoritative admission that a gen.
erai basis of settlement of the existing
difficulties had been reached was made
today. Details of the agreement were
not announced, and it was even intimate
that no official statement will be given to
the public. It was, however. definitely
learned that the current settlement in
wolves the organization of a proprietary
company which shall acquire the stocks
of the Northern Pacific and Great North
ern Railway companies. The terms upon
which these stocks will be taken over
were not given.
The current arrangement involves q
definite understanding as to the control
of the Burlington system on terms de-
clared to be satisfactory to Union Pa
cific interests. What these terms are was
not stated, but it Is learned on reliable
authority that the arrangement is one
Of very definite character, which will
prevent any extensions of, the Burlington
system to the detriment of the Union
Pacific interests Union Pacific interests
will be represented In the new proprie-
tary company, it's stated. both through
stock ownership and by representation on
the board of directors
It was furthermore definitely estab-
lished that the st. Paul system has no
direct interest in the current settlement
The position of ST. Paul may be some
what benefited generally upon the clear
ing UP Of the Northwestern situation,
but the control of the st. Paul for the
present at least is not to be disturbed.
One report was that it is eventually in
tended to return the Burlington system
to its original status CT an independent
road through the medium Of the new
company recently incorporated in Iowa.