The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-03-28
IS AFTER THE burlington
DETERMINED EFFORT TO
SECURE CONTROL
SUCCESS OF DEAL IN DOUBT
Already Swings a Heavy Amount of
Stock, but Present Burlington
Directorate Is Strongly OPP
posed to the Deal.

NEW YORK, March 27.-The Evening
Post says:
Burlington and Northern Pacific
shares were strong and active today on
the revival of the reports that there
would be lease of the Burlington by
the Northern Pacific and Great Northern
railways. No official confirmation of
these reports could be obtained today,
and important stockholding interests in
the Burlington denied having Information
that any offer had been made for the
Burlington railway. 1t may also be said
that neither the Great Northern nor the
Northern Pacific directors have consid-
cred such lease or terms for taking
over the Burlington.
"A strong effort is under way, how.
ever, to secure control of the Burlington
and turn it over to the Northern Pacific
and Great Northern. These propositions
originated with j. j. Hill and the nego-
tiations are entirely in his hands Wheth-
er he will be successful in inducing the
present management CT the Burlington
to accept his proposals remains to ce
seen. 1t is believed that Mr. Hill is pre-
pared to bid high cash price for the
Burlington, to lease it at a specified
guaranteed rental or to exchange the
stock for new bondS-aS the Lake Shore
and Michigan Central roads were acquired
by the New York Central In such ne
gotiations the Hill interests have the ad-
vantage of owning heavy amounts of
stock of Burlington bought at much
lower prices, both directly and through
allied banking interests in New York
which would be voted in favor of any
proposal looking to securing the Bur-
lmgton for the Northern Pacific road.
AT present it may be stated on good
authority the effort to secure control of
the Burlington is evidently in the han1s
of Mr.. Hill Mr.. J. T. Morgan has taken
no active part in the negotiations, as he
did in those to secure the s.: Paul. If
Mr.. Hill succeeds in securing the Bur-
lington and the opportunity is offered to
the Northern Pacific road to share with
the Great Northern in any guarantee or
join in the purchase price it will I'M
doubtedly be accepted. AZ the present
time the proposal remains in an indefinite
shape, pending the outcome of Mr. Hills
efforts to reach an agreement with the
Burlington directors. President Perkins
is understood to be on the way east, and
that a definite offer will be made to the
Burlington board this week
Should the directors refuse the offer.
and heretofore they have been opposed
to passing control, the success of an ef-
fort to lease the Burlington road to any
Western road would be jeopardized.
While Eastern bankers have become
heavy holders in the stock, the stock is
widely distributed throughout New Eng
land, and it would be difficult to induce
these investors to part with their hold
lngs. The average holdings OF Burling-
tons stock is said to have been seventy
shares lately, largely in New England
1t may be said that President Hill has a
strong following in New England, ana is
in better position than almost any in
terest to secure control of Burlington"