The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-01-10
'The Less Friction There Is," the
Western Magnate Says, the sBet-
ter 1t VIII he for All of U.s.,
HE FAvoRs CONSOLIDATION
BUT SAYS HIS PLANS HAVE BEEN
MUCH MIsREPRESENTED.
Combination the Inevitable Policy of
Railways, Because 1t Means Econ
Omy I'm Operation.

NEW YORK. Jan. 9.-James ]. Hill in an
interview to-day outlined what he and his
associates in the giant railroad "com-
munity of interests" are trying to accom-
plish. Instead of a combination of great
roads under one system. he said he was
trying to bring about an agreement be-
tween certain big systems of the North
west by which friction would be pre-
vented and the roads operated more
economically. He denied that he was here
to see ]. p. Morgan and John d. Rookie
Teller.
The day brought no development in the
unfolding of the plans of the Hill-Morgan-
Rockefeller combine. The meeting OF the
Northern Pacific directors did nothing more
important, 1T was announced, than declare
the regular / per cent. quarterly dividend.
Vice President ID. S. Lamont was in close
conference until after dark with several
directors of the Northern Pacific and as
sociates of Mr.. Hill and developments are
expected soon.
Mr.. Hill was in Wall street all day.
James Stillman, president of the National
City Bank, the depository of the Standard
Oil Company, was one of his many callers.
my plans have been greatly exaggerated
and a great deal that is untrue has been
published about what intend to do" said
Mr.. HILL 'I do not contemplate any great
deal such as has been attributed to me.
did not come TO New York 70 see Mr.. Nor
gan. 1 have not seen Mr. Morgan to-day
and have no engagement either to see him
to-day or tomorrow"
lone of the main objects of my trip is TO
consult with the contractors who are
building two steamships at New London
for my line 1 am trying to bring about
agreements between the Western roads
which will prevent friction and make the
operation of the lines more economical. In
other words, an understanding by which
they can save money. The less friction
there is among railroads the better il will
be for all of us. l am believer in railroad
consolidation when it is advantageous. 1t
is the inevitable policy of the roads sooner
or later. Railroads, just like all other lines
of business, should be run as economically
as possible. However. my plans have been
so greatly misrepresented that / have made
up my mind that silence is the best policy"
Mr.. Hill did not attend the meeting of the
Northern Pacific directors. but he saw Mr..
Lamont just afterwards.
Mr.. Hill went down town from the Hotel
Netherlands at 10 o'clock. He spent two
busy hours at his office and received among
other visitors ]. H. Schiff, who is deeply
interested in Union Pacific, and Z. III. Har-
riman chairman of the advisory board of
the Western roads. This afternoon Mr.
Hill attended a directors meeting at the
Chase National Bank and later went out to
luncheon with a. b. Hepburn, vice presi-
dent of the bank.
The wisacres noted the arrival in the
city of Norman B. Ream, of Chicago, said
to be slated to go into the st. Paul direc-
tory, together with Mr.. Hill. He is con-
nected closely with the Hill-Morgan man.
agement of the Erie and the Baltimore &
Ohio. and there are those who suspected
that Mr. Ream came East to confer with
| Mr. Hill.
In railroad circles 1t was reported that
| Mr. Hill would succeed Mr.. p. d. Armour
in the directory of the Chicago. Milwaukee
| & st. Paul Railroad This. however was
| only one of the thousand and one railroad
rumors afioat during the day
The Tribune tomorrow will say: 'It is
said on good authority that among Mr..
Hills plans said to be put into execution is
one for materially shortening the trans
continental journey. Passengers arriving at
Victoria from the Orient and now naturally
taking the Canadian Pacific route in going
to New York will before long have the
choice Of an alternate route arranged by
Mr.. Hill and made UP of the Great North
ern. the st. Paul and the Pennsylvania
railroads. by taking which route they will
be enabled to reach New York eighteen
hours sooner than by the Canadian Paci-
| fic.