The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1901-11-22

pause and inquire:
sis amassed capital greater than
governments Can this perilous under
taking succeed in the face of hostile
governors and legislaturesS Is it safer"
All capital is not in sympathy with
the vast consolidation, and the inan-
cial world is stirred to it's depths by
the present situation. The prominent
interests behind the Northern Securi-
ties company make light of it all.
They admit that they expect much OPP
position to their plans, but contend
that in view of this the legal status of
the new company was constantly borne
in mind. There is nothing in state of
federal laws, they say, to prevent the
deposit and exchange of stocks contem-
plated by the new corporation. There
is no intention to consolidate the rail
ways.
So they say. But, at the same time,
Charles Steele of J. P. Morgan & Co.,
says the Northern Securities company
will benefit the people, by giving them
better facilities, better service and
more stable rates. To do so the COM
pany must exercise general supervi-
sion over the lines, must keep close
rein on both operating and traffic de-
partments, and, to all interests and
purposes, run all the roads as a con-
nected whole.
The New York Journal of Commerce
says that Mr.. Hills original intention
was to place Darius G. Miller at the
head of the traffic of the Burlington
as we'll as of the Great Northern and
Northern Pacific, but this is opposed
by the Hartman interests, who believe
that Miller would discriminate against
, the Union Pacihc. Such a move would
be in direct violation of the Minnesota
law. The managers of the merger will
have to keep their tracks covered bet
ter than that.
Gov. Van SAINT heard from James J.
Hill yesterday by wire. The telegra m
was considered confidential, and the
governor declines to say anything in
regard to it. Evidently the president
of the Northern Securities company
thinks the governors attitude at least
worthy of notice. Mr.. Hill says, how
ever, that the company is not organized
for operation, but for holding stocks,
and as such violates no law.
There may be governor trust
to fight the railroad trust Gov.
Rogers of Washington is talking of CO.
operation among the governors of all
the states containing the lines Of the
Northern Pacific and Great Northern.
The Washington constitution provides
that "monopolies and trusts shall
never be allowed in this state, and
directs the legislature to carry out the
provision. There may be an extra ses-
sion in Washington, and Gov. Rogers
is in correspondence with the COVER
nors of Idaho, Montana, North Dakota
+ and Minnesota, looking to some con-
certed measures against the new stock
| buying trust.
| All sorts of rumors are ahoat. One
| is circulated by morning paper, to
| the effect that M. D. Grover the astute
general solicitor of the Great North
ern, advised James J. Hill against the
| legality of the new venture, and there
/ fore was left out of it, W. P. Clough
being made general counsel What
ever Mr.. Growers opinion on the mat
ter, it is not likely he would have been
| taken into the new company, but
retained in work peculiar to the Great
Northern, which commands his entire
attention.
! No one knows whether Attorney
J General Douglas will bring an action
I against the new company, or where he
would bring it. True, its president
lives in Minnesota, and service on him
| might be legal. Otherwise there is no
! way to reach the new corporation in
the state courts. 1t violates no federal
law. therefore there seems no way of
getting it into the federal courts
The question will first be examined
in all the phases, and if the attorney
general finds any ground on which to
bring suit, or any method of bringing
it, he will proceed. If he finds there
is no present legal remedy, an action
would of course be fruitless.
: The governor is receiving enthusiasts
tic support from members of the legis-
lature and people generally. w. b
Anderson, member of the house from
Winona, says:
/ No one can convince me that there
is not power in the people of this state
to prevent the proposed consolidation
of the Great Northern and the North
ern Pacific railways.
| hear attorneys say that to pass
law calculated to reach the point at
issue would be unconstitutional and
all rot but don't believe them. hold
the opinion that the state Legislature
can hit upon remedy, and approve
the suggestion that the matter be
taken up at the special session. If this
state and its people have not the power
to control the corporation within it's
borders, then it is high time we found
it out.
| believe Gov. Van SAINT has made
hit with the people by the determin-
ed attitude which he has assumed, and
believe he will lose nothing politi-
cally by it.