The Savannah morning news., 1901-05-12
PRES. HILL WEEPS
s.ys MANY WE'RE CAUGHT IN VOR.
TEX OF GAMBLE.
NEWSPAPERS DID IT, he SAYS.
s.Ys MANY WERE CAUGHT IN VoR-
STILL UNDETERMINED.

x.nbn. Loeb & Co. StilI Quietly Buy
ing the stock and the Hartman N
syndicate Assert That 1t still Has
ContrOI-MOrsan People Decline to
TaIk-Many Who Were Not Rich
and who Bought in Good Faith
Have Been Completely Ruined,
says President Hill.
New York. May 11.-With both the
Stock Exchange and the Consolidated Ex-
change closed to-day. and with practical
" nothing doing on the curb" Wall
street was very quiet. Although the ex-
changes were not open for business, all
of the larger brokerage houses had their
clerks at work, Strengthening out the ac-
counts of speeulators, and putting their
hooks in order. In the rush days from
Monday to Friday, none of the usual max
ing out of customers statements was
done and it probably will be late to-mor-
row night before the balancing of ac-
counts will be finished.
Many speculators went down town to
await the bank statement, and to get
the London quotations for American secu-
rites At 2 p. m, London's prices gen.
orally showed advances as compared with
the close at New York yesterday. The
extreme rise in Northern Pacific was IS
points Other stocks generally were up,
but United States Steel common was y,
and the preferred II lower.
All interest in the financial world re-
mains absorbed in the great contest for
the control of Northen Pacific and the
rivaries that have been caused by that
battle. The heavy buying in Union Pa
clfc yesterday provoked much comment
and to-day the street" was wondering
whether the fight of the railway giants
was to be transferred to the stock again
The high price for Northern Pacific in
London to-day was taken by many as an
indication that buying for control of the
property was still going on wherever the
seller had the stock to deliver
Kuhn, Loeb e. Co. Stiu Buying.
1t was learned to-day that at the time
Kuhn, Loeb & Co. were settling with
shorts yesterday at $3.50 share they were
paying the same price -over the counter
to all who offered the securities for in
slant delivery
Mr.. Hill told reporter of a news bu-
reau that there was no truth in reports
circulated to the effect that he and ]. P.
Morgan desired to secure control of the
Union Pacific
There is nothing in that story" said
Mr. Hill
The harriman Syndicate.
A representative of the Hartman syndi-
cate made the following statement to-day:
In spite of all that may be said and
printed we stand on our assertion of the
past few days that we believe possession
Do ;.
held by Kuhn, Loeb & Co. 1t may take
some time TO prove this, and it is even
possible that some legal trick may be de
Vised to wrest control from us. At this
time, however, there is no doubt in our
minds that we are in power. AS far as
the Burlington deal goes that is only in
directly involved I'm the Northern Pacific
controversy and we believe it will go
through in due time
AT the banking house of ]. P Morgan
Co. no statement regarding Northern
Pacific could be obtained.
Says the Newspapers Did 1t.
The Commercial Advertiser prints the
following interview with James j. Hill:
Mr.. HIP, are the troubles between the
Northern Pacific and the Union Pacific
selted?' asked a reporter.
Ihere is no question of any trouble
now. | never myself had any doubt that
IN the end we should come out All right
ana the trouble was not foisted on the
puohc by us. I do not speculate myself
IN single share and the shares of the
Ireat Northern and of the Northern Pa
enc which l have to-day shall keep if
can until doomsday.
The troubles which have been caused
py TINS dispute as the papers called it,
nave been fomented by the papers them
seVes When we who are concerned can
set together and talk matters over the
uHerences will not be so great as they
appear. They will not be impossible of
settlement. But look at the ruin that has
been done"
Hill Weeps for Sufferers.
Mr Hill paused and turned half around
Nhen he turned back there were tears in
his eyes.
have received lots of letters" he
edu' from friends of mine, men and wo-
urn VINO were not rich, who were COM
pdrauVely poor. They knew that l was
In'erested largely in my properties, and
nCy mad faith in them and in me. Now
my arc completely ruined and simply
oecanse they have been caught in the vor-
.t w OF gamble. Yet, they bought their
Sares In good faith"
Mr, HILL" asked the reporter, do you
not thiEk that the community of inter-
@ S plnciple or idea is having a pretty
'Ier9 trial Just now?"
"ell' that / cannot talk about now.
leel too much grieved over the situa-
ION ION This very morning l got a letter
aoh the wife of friend of mine, tell
.s me Of the losses of her family
.ep'at that this trouble has not been OF
~, Wy making, and no one regrets it more
Wdn | do
MHl the trouble end soon?"
res II common sense prevails; yes"
"r' Kuhn ReiterRtes the Claim.
.Ne~ York, May 11.-Otto A. Kuhn, Of
,a ,"e urn OF Kuhn. Loeb & Co., was asked
".uay II he had any reply to make to the
o, 'ures OF MIR. Hill. He replied:
"" have nothing to say on the sub
Iset Whatever"
.,,, Does the firm of Kuhn. Loeb & Co.,
N maintain that It has control OF
''oorthern Pacihc?1 was asked
,t,. we reiterate our assertion with posi-
,. ,'uess that we have control OF North
acihc,' replied Mr. Kuhn.
ENGLISH ntI nnX