The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-05-08
MIR. HILLS INTERVIEW.

The prospect of one or more great
transcontinentaI railway lines has nat
urally been regarded by the American
people with supreme interest as indicat-
ing new developments in the great prob
lem of transportation fraught with the
utmost Importance to every material in
terest of the country
Fortunes have been made and doubt
less some lost on the assumed movement
in this direction The active imagination
of stockholders, as well as Of ingenious
newspaper writer's, has suficed not only
to outline the several transcontinentaI
systems in course of organization, but
has specified the roads with the utmost
particularity which would be involved
in the different systems in course Of or
ganization
The authorized interview with Mr..
James ]. Hill, which has just appeared in
the public press puts an effective end to
all speculation of this character. Such
operations as that gentleman has been
engaged in, and which have to some ex-
tent been made the basis of the wonder
full stories which have been aAoat, have
admitted of a very simple explanation,
spoken with all the dire ctness and terse-
ness which distinguish that gentleman's
utterances on all subjects OF public con-
Germ.
So, too, the projected transcontinental
systems have sunk into the merest CHI
mera of overheated imaginations as the
result Of his brief interview. The imprac-
ticabnity of such an undertaking as
transcontincntaI system under existing
conditions of population in the different
sections of the country which would be
traversed by such systems is made SO
plain that the wonder must be why any
intelligent student of transportation prob
lens could have deemed such an under
taking within the scope of practical rail-
road organization or administration.
The interview of Mr.. Hill naturally pos
sesses great national interest. The con-
servatism, good sense and foresight which
distinguish every statement of it will
leave profound impression If it's refer
ence to the disposition prevailing among
certain Of the clements of productive So
ciety to engage in stock speculation is
given the weight which its intrinsic good
sense suggests the country will be great
ly the gamer.
The marvellous advance which has been
I'm in, fba
stock of the principal railroad system
for some months past must, of course,
have offered the strongest irducement to
speculation, even on the part Of those
who ordinarily have the sense to keep
aloof from stock operations These ad-
vances are in great measure no doubt the
legitimate result of the vast progress
which is being made in material wealth in
this country. They still continue, and, no
doubt, there will be no great falling away
from the standards of value which have
been realized; but IN such an event it is
entirely unwarrantcd to assume that such
activity win continue in stock transac-
lions as to lead to further great ad-
vances on the basis already realized.
Whatever the future may have in store
in the matter Of the prices of raH.@ad
stock it is safe to assume that the time
ly words of President Hill will be follow
ed by a considerable lessening of purely
speculative transactions in that form OF
property.