The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-11-15
RAILROAD GENERALS BUSY PER-
FECTING THE DETAILS OF
THEIR GREAT WORK
MR.. HILL IS CHOSEN PRESIDENT
OF the Northern Securities Company
and the Directors Are An
nounced With Seeming
Certainty.
SCOPE OF THE DEAL rs BROAD
Special to The Globe.

Special to The Globe.
NEW YORK, Nov. 14-Wall street will
not need to guess much longer on the
main points in the settlement of the
Northwestern railroad situation. The
problem has reached the stage where the
details can be decided upon and announc-
ed rapidly. Yesterday the incorporation
OF the new proprietary company formed
to take over the Great Northern pre-
ferred and Northern Pacific common
stock, and the plan for the re-
tirement of the Northern Pacific pre-
ferred stock were made known. Today
came the names of the directors of the
Northern Securities company. 1t was not
expected last night that this step in
rounding out the deal would be taken so
soon, but it is now thought that the other
details will come out as fast as they can
be arranged. AS great secrecy was .mains
tained regarding the place and time of
this meeting. and as at first all who were
present at the meeting declined to say
anything regarding it's purposes, it is not
thought that it was intended to make
the announcement of election today.
The meeting was held in the office of
John S. Kennedy, 81 Mas au street, an at
torney for some prominent interests in
the company, and the fact that the meet,
ing was to be held was known by only
one newspaper man in the entire city.
Among the prominent interests who at
tended the meeting were James j. Hill,
president of the Great Northern railway;
James Stillman. president of the National
City Bank Of New York. and represent
ative of the Hartman party; G. w. Per-
kins, of the firm of j. p Morgan & Co.,
and George F. Baker, president of the
First National bank of this city, in which
j. +. Morgan is dominating spirit.
Those Interested Keep Mum.
minutes, and not to attract attention,
those present left the room singly and
rushed into the elevator, which is direct
~ opposite the door of the meeting room.
AT first they declined to give any infor-
nation regarding the meeting, but little
later it was learned that the directors
of the new proprietary company had been
elected, and their names were secured
While 1t is conceded that in the terms
for the retirement of Northern Pacific
preferred stock the honors were about
equally divided between the Hartman
and Hill-Morgan interests, it is pointed
out that in representation in the board
of the new company the latter faction has
decidedly the advantage. OF the fifteen
directors the Hill-Morgan interests have
twelve.
At least two of the Hill directors as
elected today are understood not to be
fixtures, and it can be stated on author
ity that their places will be taken in
due time by Lord Strathcona, of the Ca
madam Pacific, and one other prominent
foreign interest. This latter fact sug-
gests that the Canadian Pacific viii
share in the far-reaching settlement OF
the Northwestern railroad situation that
has been effected.
Buying Canadian stock.
The controlling interest in Canadian
Pacific stock was held by the Deutscht
Bank of Berlin for some time. The
stock has reflected great activity and
strength of late, and although it cam
not be learned definitely at the moment
il is the opinion tonight that the recent
heavy buying was for control, and that
it is now lodged with the Hill Morgan
party.
The opinion was freely expressed by
well informed interest tonight that the
Continued On Seventh, Pu