The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-11-14
.HERCU[EAN TASK IS DONE
Controlling Spirits of Great Railroad
Interests Have Finally
Agreed
SECURITIES COMPANY INCORPORATED
Has a Capital of $4OO,OOO,OOO and
Will Handle Financial Con-
Germs of the Roads
INCREASE OF VALUES
SECURITIES COMPANY INCORPORATED
Special to The Globe.

Special to The Globe.
NEW YORK, Nov. 13.-After many
weeks of unavaiiing effort and nard
work decision was made public today
which settles the Northern Pacific
Great Northern contest which brought
about the sensational break in the stock
market of May 9, ano which has been
such heavy load to all concerned ever
since. 1t is authoratively stated that all
parties concerned are satisfied
Ever since Mr.. Hill made the announce.
ment week ago that d settlement was
almost completed the street has been
eager to learn the basis of settlement.
and all kinds of rumors have been float
ing around. Early il. the session of the
stock exchange today the announcement
came from trustworthy source that
during the day or tomorrow application
would be made for a charter, under New
Jersey laws, for the proprietary COM
pany through which, it had been ru-
mored, the principal difficulty of the gil
gantic problem would be settled. Then
the street was started guessing on a
new point, as to the character, scope
and powers of the new company.
In the course of a. few hours some of
these questions were answered in Il
general way by the announcement in
dispatches from Trenton, N. j., the great
mill of mills for corporations of every
description, of the incorporation of the
Northern Securities company with the
modest capital of O0,000,000. Later dis
patches gave the names of the inccr-
porators, which carried little significance,
and also the powers of the company,
which were almost universal in scope,
but entirely general in character.
Patrons of Tape Kept Guessing.
Nothing definite regarding the pur-
poses of the formation of the company
was given in the articles of incorpora-
ton, and the patrons of the tape were
set to guessing once more. No authorit-
ative or official information regarding
the details of the Company purposes
could be obtained except a perfunctory
confirmation that the new company was
what 1t was supposed TO be. Great Sc
crecy was maintained by everyone con-
cerned in the matter. 1t is understood
that one os the dominant interests in
the whole matter gave specific instruc-
tions to his associates today not to speak
of details even to their most intimate
friends.
1t was rumored that the much desired
details of the terms on which the Sc
curities of the various companies in
volved would be taken in would be an
nounced from the office of J. p. Morgan
& Co. about 8 O'Clock today. Accord
ingly large number of newspaper men
gathered on "Morgan's corner and aft
er waiting some time it was learned that
no statement would be forthcoming at
that hour. 1t can be stated now, on the
authority of a member of the firm OF
J. P Morgan & Co., that no statement
of this character will be issued for sew
eral days. He says numerous details
must be worked out before such an an
nouncement can be made. This same
gentleman said late tonight that while
| he was not at liberty to speak at all
of details he could state absolutely that
| the entire situation with respect not only
to the Northern Pacific. Great North
ern Burlington and Union Pacific, but
also the st. Paul, had been settled 10
| the entire satisfaction of all the various
| interests involved Commenting on the
matter he said:
Tremendous Enhancement of Values
'"The public has no idea of the impor-
tance of the settlement that has been
reached for the whole situation has
been cleared up once and for all, and
believe the value of the securities in.