The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1901-11-30
Northern Securities Roads to
Have Exclusive Directors
TWO 500 VACANCIES
They Will Be Filled by Special
Election Monday.
Soo'S RELATIONS TO THE MERGER
cure Pledge of Neu-
traIity.

w. B. Dean, of St. Paul, who was re-
Gently elected a director of the Great
Northern railway company, to succeed
Jacob H. Schiff of New York, has filed his
resignation as a director Of the 500 road.
Mr.. Schiff, who is a director in the North
ern Pacific, resigned in accordance with
the policy adopted by the fnanciers in
terested in the Northern Securities
merger, who seek to have the directorate
of each road free of men who may be
serving on the directorates of parallel or
competing lines. 1t is known that Presl-
dent Hill has for some time been anxious
to bring Mr.. Dean into closer association
with his interests and especially with the
Great Northern. Through that he becomes
one of the northwestern business men in
terested in the big merger. The reasons
offered for his resignation from the 500
are practically to the same as the ex-
plantations offered for the withdrawal OF
Schiff from the Great Northern.
A Special 500 Election.
On his return home yesterday President
Lowry, of the 500, after conference with
General Manager Pennington, decided to
call special meeting of the board Of di-
rectors for next Monday. At this meet
ing two directors, to succeed Mr.. Dean and
the late Governor Pillsbury, will be elect
ed. The present members of the board
are: Thomas Lowry, John Martin, w. D.
n
E. Pennington Of Minneapolis. The Cana
dian Pacific interests are represented on
the board by Sir William Van Horne,
President Shaughnessy and R. B. Angus
of Montreal
President Lowry makes a correction In
his interview Of yesterday in which the
newspaper men misunderstood his attt-
tude toward the general proposition OF
railway combinations. He says that as
general principle he is not opposed to
railway combinations. But the uniting OF
the 500 road with combination of north
western roads would, he believes, be det-
rimentaI to the interests of the north
west.
The opinion is general that Mr.. Hill is
planning to bring influence to bear upon
the Canadian Pacific at least to persuade
1t to use it's influence for peace in north
western traffic affairs. The 500 is the big
question mark to Hills big plans OF per-
feet railroad cooperation and harmony In
the northwest. Reports from New York
indicate that President Stickney of the
Great Western has given assurances that
his system will not be a trouble maker.
To complete the program some such as
surance is wanted from the Canadian Pa
ciic and the 500. The argument that
Morgan, Hill and Hartman will be unable
to incorporate the Canadian Pacific into
their big scheme because public senti-
ment in Canada and England would be so
strenuously opposed to it, is not taken as
final. If the merger can be made sue
cess on the American side of the line,
there would be no trouble in extending its
operations to Canadian roads. The stock
of the Canadian Pacific is scattered
through Germany, England, Canada and
the United States. It could be purchased
and a Canadian Pacific alliance with the
community Of interest arrangement could
be obtained by furnishing the funds and
starting quiet campaign for the stock.
Shippers vitality Interested.
Since the further progress of community
of interest plans through the organiza-
tion Of the Northern Securities company
and other details connected with the
Northern Pacific settlement, shippers and
business men generally in Minneapolis
and throughout the northwest have been
able to see much hope in the situation
as long as the 500 remained an independ-
ent road free from the influence Of Nor
gan, Hill and Hartman. Many Of the
large shippers have expressed the opinion
that as long as the plans Of the big trium-
virate did not reach the Canadian Pacific
and the 500, those systems would furnish
enough competition aided by the competi-
tive influences of the markets of the
country and the world to keep rates in
the northwest within satisfactory limits.
The declaration by Mr.. Lowry that he
Is OppO60U 10 any move TOWARD pldC1QE
the 500 under the influence Of the persons
interested in the northwestern railway
combination, together with the known an
tagonism of other northwestern owners OF
500 stock, who have been identified with
the 500 since it's organization has had
a reassuring effect
The Canadian Pacific owns 81 per cent
of the 500 stock and with the 500 inter
ests in the northwest lined up against an
alliance with the Community party, in
terest turns to the probable action Of the
triumvirate toward the Canadian Pacific
While in Minneapolis recently, President
Shaughnessy plainly said that he did not
agree with Mr.. Hills ideas in some de-
partments of railroading; but the banker
management of American railways as
typified in Morgan, Hartman and Hill
has sprung so many surprises in big deals
that prominent railway men and fnanciers
would not be surprised to hear that the
Canadian Pacific had been drawn into
the triumvirate's plans, although opposed
by men prominent in the operation of the
property.
remarkable old horse has just been
turned out to grass in Newark, N. J. He
has been used for producing antitoxin for