Bismarck daily tribune. [volume] (Bismarck, Dakota [N.D.]) 1881-1916, 1901-11-14
CAPITAL OF MANY MILLIONS
Northern Security Company Incorpor-
ated with a Capital Stock Of
Many Millions. s. l:;:. \:
Organized with the Purpose Of Car
rying out a Railroad Con-
solidation Scheme.
Incorporation Fee of $50. 600 is Paid
with a Check. Signed by ]. =
Pierpont Morgan.

Trenton, N. j., Nov. 14.-The North.
ern Securities company, capital $4o0,-
100000, was incorporated here at noon.
The company is formed to acquire and
deal in stocks and securities of cor
POI ations The fling fee of $4,000
was paid, the check coming from J.
Pierpont Morgan & Co., who are un-
derstood TO be identified with the COM
pany. The incorporators are George
F. Baker, Jr.. and Richard Trimble.
New York, and Abram NJ. Hiatt, AL
lenlfurst, n. J.
The certificate of incorporation was
Jennings & Russell. It is understood
that the company is formed for the
| purpose of carrying out a plan of con-
soli0ation of some Western railroad
| interests, including the Northern Pa
! cifc. The powers conferred upon the
company by the articles of incorpora-
ton include these:
| "To acquire by purchase, subscrip-
ton, or otherwise and to hold as in
vestment any bonds or other securities
Of Indebtedness, or any share of cap.
iIal stock created or issued by any
other corporation or corporations, as
soeiation or associations of the state
of New Jersey or any other state. ter
ritory or country.
'sTo purchase, hold, sell, assign,
transfer, mortgage or otherwise to dis
or evidences of debt, created or issued
by any other corporation Or corpora
tions, association Or associations of the
state of New Jersey, or any other
state, territory or country and while
owner thereof to exercise all the right,
power and privileges of such owner
ship"
The capital stock of the corporation
is divided into 100000 shares Of s100
each, all of which is to be common
stock.
No Official information.
Regarding the Incorporation of the
Northern Securities company no Off
cial admission could be obtained as to
| the scope of the new company or the
values at which the Great Northern
and Northern Pacific shares will be
turned over to it. Great Northern's
outstanding capital is S125,000,000, par
| value, S61IuS dl Gtp III GuS mdfheL,
while Northern Pacific's total out
standing stock is $155, 100000, par
value, making a total of S0,000,000
Par value, for the shares of these two
companies. At 200 for Great Northern
the amount would be increased to
S405 100000 for the two companies.
| 1t is understood that Union Pacific
interests waived all objections to the
retirement of Northern Pacific pre-
ferred shares and will have heavy
interest in the capital of the new COM
pany, considerably beyond the par
value Of their present Northern Pacific
shareholdings, which are placed at
! SIS, 900, 900, par value, just over ma,
jority of the total.
Burlington shares, it is understood,
are not to be turned over to the new
Northern Securities company. That
stock is now held as collateral for the
outstanding Burlington collateral
! bonds. with voting rights vested in the
Northern Pacific and the Great North
/ ern railways. Under the new ar
! rangement the Great Northern rail-
way will have voting rights in the
Burlington, the board of directors be-
ing about evenly divided between the
Union Pacific and the Hill interests.