The sun., 1901-06-16
GIGANTIC RAILROAD DEAL:
ST. PACL TO GO TO U. p. AND THE
HARRIMAN- N-R0CkEFELLER GR0IP.

| And Harmonious Relations to he Maintained
With the Morgan-Hni Group Northwest
srn. Alse. Frteudly Offer for Sc. Paul
Said to He 200 In L. r. Per Cent. Bosds.
That deal involving the future control
Of the Chicago. Milwaukee and st. Paul
road is pending was definitely learned
yesterday from banker in q position to
know. Its completion. he stated. will
mean the establishing OF an absolute har-
mony Of interest in tho Northwestern rail-
road situation There will be two great
groups Of roads which will have joint
friendly relations under the harmony Of
interest plan One will be the Northern
Pacific.Great Northern Chicago. Burling-
ton and Quincy group. dominated by Nor
gan-Hill interests. and the other will be
made up Of the Chicago Milwaukee and
st. Paul and the Union Pacific and its affili-
ated lines, in which group Hartman
Rockefeller interests will dominate. The
Chicago and Northwestern. In the owner
ship Of which the vanderbilts are promi-
nent. will also be in the harmony Of interest
scheme
The same banker said that the st. Paul
deal might be closed at any time. and that
| a public announcement might be expected
this week.
People In Wall Street best able to Judge
how matters stand stated yesterday that
! they believed that the Union Pacific COM
, pany would make an offer to the common
stockholders Of the st. Paul company similar
to the Offer accepted by the Burlington
| stockholders from the Northern Pacific and
Great Northern companies. That Is. they
| 100 per cent. premium in new Union Pacific
per cent bonds fortheir stock. or In other
words, 500 par value of stock can get In
| exchange 500 In bonds. The belief that
such an offer il pending helped TO cause q
great scramble on the New York Stock
Exchange yesterday for the stock.
81. Paul common opened at l7+i., which
was the lowest price Of the day. Before II
O'Clock the stock had touched l7s.and though
there was a reaction TO l76 another rush up
took place In the final half hour Of trading
which carried the price on heavy dealings
to 1919
This is the first time the stock has been
above is0 since the Northern Pacific panic
The closing sale was at 1907 orc :. points
above Fridays final price The total sales
were 81 800 shares. st. Paul preferred
stock on sales Of $500 shares touched loA.
closing at 1893 or points above Fridays
final price.
According 10 one Wall Street report
yesterday. at the annual meeting OF the
stockholders OF the Union Pacific Railroad
in October provision will be made to pay
for 81. 900 Ooo par value OF st. Paul stock
to be supplied TO the Hartman syndicate
by James Henry Smith. Peter Geddes.
William Rockefeller. Norman b. Ream
and Marshall Field. Chicago dispatches
received In this city yesterday reported the
arrival there OF l.. II. Hartman and J. d.
Rockefeller Mr.. Hartman had confer
ence with j. c. Stubbs. Third Nice-Presi-
dent OF the Southern Pacific Railroad
II. c. Burt, President Of the Union Pacific
Company also being present and there
was a report in this city yesterday that
very important change in the character
Of Mr.. Stubbss duties may shortly be
made