The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-10-22
Mutual CONCESSIONS CONSIDERED
PROBABLE IN THE NORTHERN
PACIFIC DEAL
PREFERRED TO BE RETIRED
President Hill, of the Great North
ern Road, Was in Conference
With e. Il. Hartman
Yesterday.
EFFECT IN WALL STREET

NEW YORK, Oct. H.-(Special )-The
deadlock over the Northern Pacific situa
ton is not yet settled, but the indica-
tons today are that early concessions
will be made by both Sides which will
result in an agreement providing first,
for the retirement of the preferred stock
at par, and, secondly, for promises that
the Burlington will not be managed 10
the detriment of the Union Pacific, whose
Ines the former largely parallels. In fact
L IS now said that the Burlington t-ou-
hle, rather than the disposition of North
ern Pacific preferred stock, constitutes
the chief controversy
James j. Hill spent most of yesterday
with Edward H. Hartman, and the two
canvassed the entire situation. with a
view to effecting a settlement Wall
street had a report that Mr. Hartman
requested division of the Burlington
system into two parts, one of them 10 be
given to the Union Pacific When ap-
said
Ihere Is really nothing new in North
ern Pacific matters. I don't see any
cause for dispute about the retirement of
the preferred stock. The conditions in
regard to this issue were plainly set forth
at the time of the reorganization of the
ola company. As for the Burlington, thas
Is matter not entirely in the control
o. the Northern Pacific. The Great
Northern has something to say about it
as joint owner. 1 see no reason e. l5-
everything should not smooth out satfs-
factorily'
1t has been the plan to
EXTEND THE BURLINGTON
perhaps to a connection with the Los
Angeles & Salt Lake railroad at salt
Lake City 1t is believed that the Bur
hngton people entered into an agreement
WlthHSenator Clark before the Burlington
was acquired by the Northern Pacific and
Great Northern. Mr.. Hill, the Union Pa
enc directors fear, intends to effect a
junction with Senator CIarks lire. The
eyes Of the street were today turned On
Inlon Pacific and Northern Pacific.
The buying of Northern Pacific prefer
req by the Union Pacific was one of the
most active features of the market. De
spite the purchasing aggressiveness OF the
ohlon Pacific interests, their orders were
limited, both in regard to amount an6
price The highest price was paid for
the stock by traders, who outbid what
were considered syndicate buying orders.
on an idea that they would be outbid
themselves.
Leading London money market opinion
is that II a strong company were foru7eI
70 acquire the stocks of the Northern
Pacific and Great Western railways and
release the banking fund now locked uD
n their ownership, the situation would be
Vastly improved and the prices Of many
railroad securities would probably ad
vance 70 a higher level.
Ihe opinion abroad is that not only the
American market would be favorablv in
Htenced, but the international as well.
Many of the recent Wall street rumors
are not founded on fact. Some of them
We're doubtless put out to test the public
On the sentiment. With the revival of
sPecu-ative gossip the names of E. H.
Hartman and Kuhn, Loeb & Co. have
again come to the front and are con-
spicuous in all discussions regarding the