The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1901-05-09
BIC BURL INGT0N DEAL
is PLACED IN JEOPARDY
Financial and Railway Kings Engaged in Furious
Battle.
Many Conferences Held and an Appeal Sent to Morgan
Corner in. Northern Pacific Stock.
J

Now York May So Bealing wieA the
s-eIaticn OF things ia the turmoil Of
&al sueet To-Day. the dnanciaI writer|
ii he Evening Post IN q news leader
in SIS iast edition this eveEius. SAYS
The fundamental fact in the North-
EN- Pacihc situation TODAY was That
the BaFhuEton deai eis placed in jeoR-
ardy IS ma tets stand at preseuta
Onion Pacific Interests, which Werei
alarmed at the danger to their prOperty
lying in burlington g control - the
n0riheIu tr3nscQnt line4e have
bought enough Northern PACING stock
~ prevent the ratification Of the Bur-
Hngt0u purchase by the N0rthern Pa
cifc shsTeho lters upless some asFee--
protect tnei Interests sufficiently. Tie
CORNER iu the suareS yCas unpreTnedf-
gated. That tleyel3pnent resulted, 81
S. said from Alr. keene.s clever appre-
ciaUon OF the situation in the stock
heavily Reduced uhs d9atiue supply
The corners secondary aspect, th0ugn
The more spectacular one - the pupifc
Sc q movement 81 far-reRchIug couse-
ptanS tor me creates 81 Tatiroaa
mergers apsettins President Hil's au-
caClcus plan 90 have the Northern, Pa
cifc control the Burlington.s opeta-
Gons
The poles. OF kuhn. Loeb. &. 60. has
Been essentially one 81 projection.
and being Hov.s IN a-f0uinaut pesiti0Rs
whore TIE balance of power ln tn5
Wesrern railway sri ll3fttnu, so rudeiy
disturbed bys ar Hilts burlington deal
has been restored they content them-
selves without creating testing hostile
mies among tie great western railroads
which would follow the abandonment
of the BurliPGtqp dealt There prooa ply
Hraf.f rr Hraf 49, en-
Hent. with the Union PaciHc SHARING
the control as welf as Northern Pacific
and Great. Northern, Under a nodifiea-
fion of The burden Of the gHarantee.
Distributfon Of stock.
The conditions un5er which KIM
Loeb q 20. 1vere able q evih theirad-
yantaEe Wsre tnat The = s.l-9lorg9n q :
400 Q8e siaares ofs fS0Fthern- IA aiiis as a.
ne7 ustnent investment which MAS
nractfcaIly OF the marKet. In additi01
Fbout z9o 900 shsres nere zIeld aprQaf,
Union Pacific interests. Fais ley yir-
iuallv but 100000 shares Of the $4,000
shares of common stock Qutstandlng
available 81 the New York market
NbHe there have been heavy safes ~
Northern Pacific by insiders. the STOCK
heId for control has not beer sold and
III Is not likely that insiders Wenu shDrU
uf The market. as has been iutimated,
Tho CORNER in the stock Was NOS looSea
for by the serious huEers OF northern
Paciho who had practically -accOIp7
plished their pWrohsses before Mons
eays sharp rise The pEr0teChnics IN
tSe shares are attrinuted TO M scene.
who. Compre bending what was ctuatiy
going ON, ard understanding the large
shorl interest Of sYsSuEat ors. 81 en- antD
the market and effected the CORNER
AR. IIiH. il Vas autntrit tively stated
today has not sold any Of his NorlneFn
pacif, stock fIis large interest was
Rcolured last sumrner,- arcalnE nifty.
when che stock broke con the. reducuQn
of the common dfvidend end the seeIn-
iuglv poor trafdC.. prJspets fesuiLIuS
from the failure of me sprlug Wlsat
s,a-val4 ne SAID to-day - have nliL
bought share oil Northern Pacific IN
Elk months.
Tn reference t. the reported amer