New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1901-05-13
ANXIOUS ABOUT STOCKS,
FEW CARE To PREDICT FEATURE OF,
TO-DAY'S MARKET.
BOTH SIDES IN THE STRUGGLE OVER
NORTHERN PACIFIC STILL CLAIM 10
ING VICTORY. xlR

NORTHERN PACIFIC STILL CLAIM 10
ING VICTORY. gaR
Preparations for the beginning OF the new
week in Wall Street went forward at a steady
pace yesterday in many brokers' office. where
clerks toiIed as on weekday TO bring their
books up to date for the reOpening Of the mar
ket this morning In the corridors and cafes
of the waldorf-Astoria discussion OF the pros
pect continued until late hour last night
The hnanciers seem to be pretty evenly divided
In their sympathies and their hopes between
the Hill Morgan and the Hartman -ESuhn-Loeb
factions. which have been fighting for control
OF the Northern Pacific. Friends OF both sides
were claiming the victory last night vehe-
mently as ever.
Otto H. Kuhn. Of Kuhn. Loeb & Co. said he
knew Of no change in the situation. He reiter-
ated his statement OF last week that the Harri-
man syndicate still held possession Of the Union
Pacific. but he declined to predict what would
be the outcome Of the controversy over North
ern Pacific. Other interests intimately
nected with the Kuhn-Loeb syndicate, when
seen yesterday. asked to be excused from fur
ther discussion of the subject. Jacob H. Schifr
was out of town. but friends of his said there
could be no doubt in the world that If the
Northern Pacific stock which had been bought
for the Hartman syndicate in the open market
was delivered per contract 1T would have
enough to control the situation.
MR. HILL STILL POSITIVE
On the other hand j. j. Hill was positive that
in the strong boxes OF ]. P. Morgan there lay
enough Of the actual stock to give control to
the Hill-Morgan combination without counting
upon a single share yet to be delivered from
any quarter. Mr.. Hill was seen at the Waldorf
Astoria yesterday and surrounded by
group of reporters. One asked:
LIorra a. 1arr f1E,
would lead you to doubt the safety OF your
position Northern Pacif1c?"
have not" Mr.. Hill replied. "I am as con-
ident ever. and confident I can be,
that ]. P. Morgan controls Northern Pacific"
"Supposfng then" Mr.. Hill was asked. that
you have won. is it your intention to give voun-
tarily to Union Pacific interests any representa-
ton in the directorate of the Northern Pacific
after the Burlington deal is compIeted?"
Now. don't ask such questions that"
replied Mr.. Hill. II am plain farmer from
Brushhurst and I don't know anything about
such things You must ask Mr. Morgan about
things like that. II he wants to give Union
Pacific interests place in the Northern Pacific
directorate he will do So 1 suppose. but can't
speak for him
"SupposIng" said third reporter that you
mistaken after all in thinking that Mr. Nor
gan has control of Northern Pacific. and it
Turns out aJ meeting Oh SNOCh-
holders that Kuhn. Loeb & Co. have control.
will they kill the Burlington deaI?"
Mr.. Hill smiled benign smile but declined to
speculate upon the intentions Of Kuhn, Loeb &c
Co. A friend of Mr.. Hill who heard the question
answered it in this way:
do you suppose that the fnanciers who have
been fighting Mr.. Hill for control of Northern
Pacific do not know a good thing when they
see it? OF course. they would put the Burling-
Pacific. Vast sums Of hard cash were paid out
by Mr.. Hill. Mr.. Morgan and their friends to-
buy control of Burlington from the shrewd New
Englanders who held it and would only let it
go at fancy prices. Mr.. Hill would not have
spent all that money for Burlington unless he
confidently expected to lease it TO the Northern
Pacific. What enrages him is that men who
have bought large quantities OF Northern Pa
cifc stock at cheap rates. involving cOmpara-
lively small outlay, should attempt. by the ac-
quisition Of a few more shares of Northern Pa
cifc. for which they are, Of course, willing 70
pay fancy price. to reap the advantage OF the
costly Burlington purchase, they would do te
they got control of Northern Pacific. This is
what angered Mr.. Hill and made him speak OF
his opponents in words not usually employed
by business men,.
POSSIBLE TROUBLE FOR SHORTS.
There was some fear expressed yesterday thae
II delivery of Northern Pacific stock at
$50 is demanded to-day some of the shorts
NAV be forced to suspend. Trouble is expected
also on the London Stock Exchange to-day, as q.
big short interest in Northern Pacific is be-
Iieved to have developed there. and this Is de
livery day for American stocks. Mr.. Morgan .
Is expected IN London to-day. and he may meet
the London representative OF Kuhn. Loeb & Co..
IL was said. and take steps to avert trouble. for
il Is understood here that hardly single share
OF Northern Pacific stock be procured in
England so thoroughly was that field cleaned OF
it by arbitTage brokers during the prevalence OF
the corner In this market.
John w. Gates seen at the WaldOrf-As-
toria last night and asked what he thought
would be the feature of the local stock market
to-day, but he declined TO venture an opinion
So did many others who were approached
So many small spectators were closed out by
their brokers in a hurry last week, when they
failed to respond promptly to the call for more
margin that II is no wonder some Of them feel
bitter and have applied TO lawyers TO see IL
there is not some redress for them. Two lawyers
advertised yesterday. asking such diSgruntled
ones to join with others in retaining them to
push their cases. IL Is said that some members
of the Consolidated Exchange also think they
were unfairly treated in this particular by GER
tain stock Exchange brokers last week. and
NAV send a formal complaint to-day to the
Stock Exchange governors
- j
To SAVE LONDON SHORTS