Evening star., 1901-05-11
OWNERS OF N. P. R. R.
Claim the Control Has Passed to
Kuhn, Loeb & Go.
THAT MEANS HARTMAN SYNDICATE
Representative Of That Party
Talks Of the Situation.
FEARS SOME LEGAL TRICK

d NEW YORK. May IA representative
of the Hartman syndicate made the fol-
lowing statement today:
In spite of all that may be said and
printed we stand on our assertion of the
past few days that believe possession
of Northern Pacific railroad Is now held
by Kuhn, Loeb & Co. 1t may take some
time to prove this, and it is even possible
. that some legal trick may be devised to
wrest control from us. At this time. how
ever, there is no doubt in our minds that
are in power As far as the Burlington
deal goes that Is only Indirectly involved
in the Northern Pacific controversy, and
We believe it will go through in due time
At the banking house Of ]. p. Morgan &
Co. no statement regarding Northern Pa
cifc could be obtained
stool. Exchange Closed.
With both the stock exchange and the
consolidated exchange closed today. and
with practically nothing doing on the
curb Wall street very quiet. Al
though the exchanges were not open
for business. all of the larger broker
age houses had their clerks at work
Strengthening out the accounts of specula-
tors and putting their books in order, In
the rush days from Monday to Friday none
of the usual making out of customers
statements was done. and it probably will
he iate tomorrow night before the baianc-
ing of accounts viii he finished.
Many spectators went down town to
await the bank statement and to get the
London quotations for American securities.
At pm. LondonS prices generally showed
advances as compared with the ciose at
New York yesterday. the extreme rise be-
ing l. points in Northern Pacific Other
stocks generally were UP. but United States
Steel common \ and the preferred /.
lower Illinois Central showed Il decline
Of Ia.
Interest in Northern Pacific.
All interest in the financial w-rld remains
absorbed in the great contest for the con-
troll of Northern Pacific and the rivalries
That have been caused by that battle The
heavy huying in Union Pacific yesterday
provoked much comment. and today the
- street was wondering whether the fight
OF the railway giants was to be transferred
u iHdt stock again. The high price for
Northern Pacific in London today was
taken by many as an indication that buying
for control of the property still going
on wherever the seller had the stock to de
HFer II was learned today. also that at
the time Kuhn. Loeb & Co were sertIinq
Wltn shorts yesterday at $50 a share. they
were paying the same price over the conn
ter 70 all who offered the securities for in
stant delivery.
Interview With j. J. HILL
The Commercial Advertiser prints the fol-
lowing interview with James J. Hill:
Northern Pacific and the Union Pacific set
tled?" asked reporter
mere is no question of any trouble now
never myself had any doubt that in the
end We should come out all right. And
the trouble was not fosted on the public
by US ''''>
II do not speculate myself in single
snare, ana the shares of the Great North
ern and of the Northern Pacific which
mae TO-DAY shall keep. if can. until
doomsday. "'''''
The troubles which have been caused hv
t thls Ilspute. as the papers call it. have
p'Th iohented by the papers themselves
hen We who are concerned can get to-
fttHeF ana talk matters over the differ
1ncts VIII not be so great as they appear
IheE Will not be impossible of settInmopt
But look at the ruin that has been donn
MI Hill paused and turned half around.
w hen ne turned back there were tears in
his eyes "
Friends Who Were Ruined
Il have received lots of letters" he said
from friends of mine-nen and women
who are not rich, who are compararivelv
poor They know that 1 was interest ed
personally and largely in my properties
and they had faith in them and In mo
Now they are completely ruined and sim
ply because they have been caught in the
vortex of gamble. Yet they bought their
shares in good faith
Mr. Hill. asked the reporter do Won
not think that the community of interests'
trial just now -
Well, that l cannot talk about now
lttl TOO much grieVed over the situarion
inns very morning l got a letter from the
"lle or a friend of mine. telling me of the
losses to her family. / repeat that this
= trouble has not been of my making. and
no one regrets il more than do
VIII the trouble end soon?''
yes, If common sense prevails; yes"
London short Northern Pacific
LONDON. May IA special meeting of
the stock exchange committee has been
summoned for Monday in the hope of
reaching a solution in the difficulty in
which operators and brokers who have
given calls for Northern Pacific for the
end of May and July find themselves 1t
dey eloped today that every share here Is
held by the MOrgans and Kuhn, Loeb &
Co, and therefore the brokers are unable
TO secure a single share for delivery The
situation has depressing effect. Owing
10 the closing of the New York stock ex-
change Americans Were absolutely stag
nant. awaiting developments.
j. Pierpont Morgan will be in London this
afternoon. and a conference will be held
II is hoped he and Kuhn. Loeb & Co will
do something to relieve the situation In
the meanwhile there is considerable anx-
fety. Though the closing of the stock ex-
change here was easier quotations mostly
showed a marked advance. Northern Pa
cifc common was quoted at an advance Of
SDi2 points in connection with the settle
ment.