The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-06-01

resent bond and share capitalization OF
about &,50O00O. This is a loose estimate.
The rough lesson which the Northern
Pacific corner taught had a wonderful
effect upon the magnates. It most notice
ably subdued them. An inkling Of the
conferences and their result became
known in Wall street in the afternoon
and led to the urgent buying of Sc ur1-
ties by strong interests, which were al
lied or In close connection with the leader I
in the big deal now approaching COnsum- !
nation. The important railway stocks
advanced sharply, and quotations were !
at the outside range when the market !
closed. The probable effect on the pun !
lie mind of the formation of the railroad
systems of the country into stupen1ous
groups was discussed at the conferences.
1t was conceded that the public might
take alarm at the outset, but TIE con-
chlsion reached was that appreheus.on5
would be stilled by demonstrate n OF
the fact that no oppression is contem-
plated, and that the arrangement wnen
completed will be OF vast general bene-
fit instead Of injury. 1t was con ended
that in the end the pubic will enjoy
cheaper freight and passenger tariff, and
that the service in both classes of trans
portation will be wonderfully imp owed.
The opinion was voiced that this mill
lennial condition can be effected within
a period Of twelve months, or at least
sufficient progress made TO quiet 20 Tar
alarm and direct settlement into friendly
channels.
COMMUNITY OF INTEREST.
(By Associated Press)
NEW YORK, May 3l.-The conflicting
interests In the Northern Pac hc railroad
have reached final amtcable agreement
upon AL matters of disagreement and
their future relations to the property
There has been no announcement Of tho
terms of the new pact which ends the
most remarkable financial battle in the
record of Wall street, and none OF the
details have been made public Late this
afternoon the following statement went
out on the ticker:
"It is officially announced that an un-
derstanding has been reached between
Northern Pacific and Union Pacific in
terests under which the composition Of
the Northern Pacific board will be left
in the hands of j. p. Morgan, certain
names having already been suggested,
which will especially be recognized as
representative of the common interests.
It is asserted that complete and perma-
nent harmony VIII result under the plan
adopted between all interests invoved."
REPORT CONFIRMED.
When the statement was shown to
LOUIS "A. t1tlIISIiSLluSig yu num- '@C~D -
Co.. he said
"That statement IS authentic. We
cannot go into particulars az to the
settlement or give you any details at
this time. All that we can say Is that
there has been a settlement of the dif-
ferences that existed and the matter Is
at an end"
Jacob H. Schin declined to add any
thing TO the official statement beyond
confirming the truth of it. All ]. J. Hill
would say was that a satisfactory settle
ment appeared to have been concluded
One Of the stories heard today after
the announcement that peace had been
declared was that at least two Northern
Pacific directors would enter the Union
Pacific board and that equal representa-
ton would be given to the latter road in
the directory Of the first named.