The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-11-14

I Volved have been enhanced $500, 600 900
thereby. No one who has not been active
in the new negotiations has any idea
either of relief that the settlement
brings to those who nave had part IL,
it. 1t was a gigantic problem and has
involved a tremendous amount of work
and thought
This statement can be appreciated bet
ter when it is recalled that this problem
has been the occasion of daily and night
ly conferences ever since the memorable
9th day of August. the day of the North
ern Pacific corner
The announc ement of the decision of the
directors of the Northern Pacific railroad
company to retire the preferred stock of
that company at par came so near the
close of the stock market that it had no
special effect or the movement of that
security on the general market. This ac-
ton Is. of course. another important step
in the settlement of the North Western
problem. Brokers seen after the close
of the market were somewhat undecided
in their opinions regarding whether the
terms of retirement were as satisfactory
as had been expected, but on the whole
the terms were favorably received. j
There was also division of sentiment
as to whether this action of the North
ern Pacific directors was a victory for
the Morgan-Hill faction or the Harriman-
Kuhn Loeb party.
The sentiment was freely expressed that
the mere fact of retirement was a victory
for the former interests. inasmuch as the
Hartman interests were understood as
holding controlling vote in this class
OF stock. The terms however, on which
the stock is to be retired are generally
regarded as a decided victory for Harri-
man and his party. Whatever may be
true on this point is of little significance
in vic rtrith thn "a
the whole problem has been settled Ito
the entire satisfaction of all interested
partieS,'' to quote again member of the
firm of J. P. Morgan & Co., who has
taken an active part in all the negotia-
tionS.
Many Silly RumOrs, of, Course.
Various rumors have been circulated to-
the effect that St Paul has been pur-
chased by the Union Pacific, and the COM
mon and preferred stock of the latter
company are to be taken in by the North
ern Securities company, the common at
10 and the preferred at 12e. These ru-
mors are not credited by well informed
Wall street circles. In the first place
it is pointed out that the Union Pacific
has all the burdens it can carry. without
assuming the stocks of the st. Paul
Then, too, no well informed interest In
the street believes that the Union Pacific
is to be taken in by the new company
The best information is that Great
Northern preferred and Northern Pacific
common stocks will be taken over by the
new proprietary company, that Burling-
ton securities will not be disturbed, the
stock already having been exchanged for
a bonus The Hartman interests will
have half interest in the Burlington.
This, by the way. has been the principal
point for which Mr.. Hartman has con-
tended. He was willing to have Northern
Pacific preferred stock retired. provided
, his party were given a half interest in
the Burlington.
ST. Paul Status Not Known.
1t is now understood that Northern Pa
cific common will be taken in at about LIS
and Great Northern preferred at 1SO. Just
how ST. Paul comes in for its share In
the settlement cannot be learned at the
moment, but it is believed tonight that
it will be found to be principally in the
way of assurances that there will be no
invasion of it's territory by any of the
Continued on Seventh Page.