New-York tribune., 1901-05-12
HILL CONFIDENT AS EYER.
IN CONTROL. OF NORTHERN PACIFIC TO
STAY, HE SAYS-OTHER SIDE
MUST Do THE FIGHTING.

THE Morgan interests are still in control OF
the Northern Pacific The story of the Union
Pacific success in wrestling away it's control is
mere boasting. The fight may go on. but they
will do the fghting'-J. ]. Hill TO a Tribune re-
porter last night
James j. Hill. who has figured in the fight for
the control of the Northern Pacific as one OF the
giants in the combat. was found in the Hotel
Netherland last night serenely lighting cigar.
$50 you wish TO talk still further about
this Northern Pacific sensation. do you?" he
said to the reporter as he puffed at his cigar
We'll, do not know that there IS much TO
say We're still in control. and intend to stay in
control"
'Is not the fight between your interests, known
as the Hill-Morgan interests. and the interests
OF Mr. Hartman and Kuhn Loeb & Co to be
continued
IF 1t is they'll do the fighting.
Then you expect a fight in the directorate
IN which the Harriman-Kuhn, Loeb & Co. inter-
ests are to take the aggressive?
II hear they are going to fight. I have not
asked them personally. AS for u.s. there is no
need of fighting. as in control, and the
attempt of this Union Pacific faction has failed
TO thwart the Burlington deal
1T has been said. Mr. Hill, that although
your friends have a majority Of the common
stock. the Union Pacific people are now pos
sessed of the greater part of the preferred. Is
that true?"
Whether or not they have obtained the most
of the preferred stock is for them 20 say. do
not believe ii. AS 1 said before. they have ig-
ANONYMOUSLY failed"
In case they do. Mr.. Hill. will it not be pos
sibIe for the present Board of Directors. which
represents your interests and control to retire
the preferred stock with bonds. that the
Union Pacific people who possess them Will not
have any voting pOwer?"
THAT / can't say. 1t is a question for my
lawyers not for myself to answer.
But is there not provision in the bylaws OF
the company TO enable such action?
THAT again is a question for my lawyers to
decide"
Mr. Hill was downtown most Of the day yes
terday. In the morning he took part In con-
ference at the office of j. p. Morgan Co. TO
a Tribune reporter who saw him in the after
noon at his office. in the Kuhn-Loeb Building
No 81 Pine-st he declared. as he did again
later at the Hotel Netherland. that the absolute
control Of the Northern Pacific was in the hands
of Mr. Morgan Mr.. Hill said also that within
the last twenty-four hours he had received nu-
merous letters from persons in various parts OF
the country blaming him for the panic or
Thursday This deemed most UNJUST Dy
Mr.. Hill. as he said that nobody could more
earnestly deplore the harm ana rum created py
last Thursdays market
.aThe Morning Journal" was fortunate enough
Yesterday morning to have an elaborate inter-
view with Mr. Hill. from which the following
extracts taken;
The necessity for an extension Of the Northern
Pacific and Great Northern roads by the joint pur-
chase OF the Burlington was obvious. The growth
OF our trade with Asia and the immense prospects
~ n still greater growth. the demand for trans
portation for cotton and corn, flour and meats and
provisions OF all sorts from the field covered by the
fall fha 40 in
Asia fed by the Northern Pacific and Great North
ern and the immense traffic in timber from the
Far Western forests TO the reelesS country fed by
he Burlng ton-these facts brought about the deal
between the Burlington and the Northern Pacific