Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1901-03-18
GETS TIE BURLINGTON
Great Northern, Northern Pacific
and Burlington Roads to
Be Merged.
]. ]. Hill Said to Have Sc.
cured Control Of the
interests.
Rapid Advance Of Burlington
Stock Explained Other Rail-
road Rumors.

Chicago, March lS.-The Burlington.
road has passed practically into the
hands of ]. j. Hill The Tribune says
this information comes from an author
itative source. Arrangements are about.
completed whereby the Burlington sys-
TEN is to be leased 10 the Great North
ern and the Northern Pacific railroad
companies, the latter guaranteeing I
per cent dividends on all the Burlington
stock
he Morgan and Hartman interests
ATTAINED control OF the Burlington road
several weeks ago and Ii is with them
that Mr.. Hill has been negotiating for
the lease.
The rapid advance in Burlington
stock during the last two weeks and the
additional jump of six points Saturday
made II certain that something OF an.
extraordinary nature was in the wind.
Few people, however. had any idea that
Mr.. Hill was trying to get control of the
property and special stress was laid
upon the assertion that neither Mr.. Hill
nor any of his brokers was buying Bur
iington stock.
Mr. Hill has been in New York for
mere than a week in connection with
this deal but so secretly were the ne
gotiations conducted that the announces
ment of his acquiring control comes as
a. few days ago whether he was trying
TO secure control If the Burlington he
stated most emphatically that he did
not own and was not buying a share of
the stock. This removed all suspicion
and the conclusion was jumped at that
the Pennsylvania company was buying.
Burlington stock and causing its pho
nonenal rise. But the Pennsylvania
people promptly denied the story.
According to the informant Mr. Hill
told the truth when he said he did not
own a share of Burlington stock The
stock has been purchased by the Nor
gan Hartman interests. These parties
for some time past have been buying
Burlington stock in the open market
and the Boston interests which hereto
fore controlled the road woke up one
morning to learn that control had been
sWrested from them by the New York
men. Strong efforts We're then made it
is said, by the Boston interests TO re-
gain control but in vain. Then followed
the retirement Of c. w Perkins from
the presidency of the company, which,
IS, is now admitted. was due TO the loss
of control by himself and his Boston
friends.
Shortly after Mr.. Hill went to New
York and entered into negotiations with.
the Morgan and Hartman interests for.
lease 1.-THE Burlington system tosthe
Great Northern and Northern Pacific
railroad companies and his offer to
guarantee per cent on the Burlington
stock is said & have beer accepted.
This is the same offer that "as made to
the Milwaukee & st. Paul Railroad
Company short time ago and reject
ed.
AS far as can be learned there viii be
no consolidation If the Burlington with
the Great Northern and Northern Pa
|cific They will be operated as sepa-
rate corporations but Mr.. Hill Will be
in absolute control of the three COM
panies.
The earnings of the Burlington sys-
tenn for 1900 were as follows:
Gross earnings ..... $47 .535,4 400
Operating expenses and taxes. 81. 422S42
Net earnings. 80. !. 80. 16,1l30IS
Other income. 3s2.1s5
Total income. ;. J. J. 1896 2113
Interest and rentals. >. 49,. s.566.5l2
Balance. ....... 1921, $50
DividendA 8 per cent. 49,. 5,S29.e7s
Surplus. ~. :. zoos, os3
The total mileage of the entire Bur
lington system is 1870 miles. This to-
gether with the mileage of the Great
Northern, 5,41s miles, and that Of the
Northern Pacific. 5,4s7 miles. will give
Mr.. Hin absolute control of .745 miles