The age-herald., 1901-05-10


  the future relations of the Union Pacific, Northern Pacific, Great Northern and Burlington. Men close to the Hartman Kuhn, Loeb and Company group insist cd that the deal for the sale of the Bur lington to the Great Northern would be carried through. Granting that Harri- ,nan-kuhn, Loeb and Company and their associates are dominant in Northern Pa cir1c, IL is assumed that they will claim and win Ia voice in the future of the Burlington. IL is believed that the settle with the sborts In Northern Pa ciiic will be made at 200 or under.
 iluEn. Loeb ana Company say that tney oeprecate the policy of the third in- terest in taking enormous profits from the shorts, and their friends avow regret that outsiders suffer. settlement with the shorts would clear the situation ma terially. but there st.ll would remain the greater problem in railroad politics of the future of the road itself. On that point the Following statement from member of the HarT1man syndicate Is significant
 Northern Pacific Is in control of Kuhn. Loeb and Company. The only thing that can affect this control will be the possible inability of certain people to deliver the stock to them. J. P. Morgan aud Company are in the same position"
 History of the Struggle.
 The struggle of the financial giants which broke the most remarkable move nlent that American stocks has ever had dates back but fortnight. E. H. Harri- man and his associates, so they relate the story in tho street. discovered that brokers representing J. F. Morgan and Esx.~ ..~lalx Hartman at once began increasing his own holdings, buying on market that rapidly advanced. and when sure of con- trol submitted proposition for some basis of agreement as to the control of the Burlington just acquired by the Great Northern and Northern Pacific. That offer WAS rejected. On Monday last there began a sensational battle for su- premacy. Street and Norton took all of the stock they could get. seemingly with out regard to price. Much of the stock sold to them was for short account, and could not be delivered. It developed fn- ally that there were three large interests in the property, two seeking its manage ment and the third a speculative profit. Both the Hartman syndicate and the Morgan-Hill interests claimed control, and the predicament Of the shorts was made worse by the fear of both the liar riman and Morgan syndicates to lend the
 
 stock to the shorts.
 It was this fear that led Kuhn. Loeb & Go. of the Hartman interests. to seek an understanding with Morgan x Co. as to the lending of stock to shorts. To loan without an understanding was to court the danger of losing the stock and possi- bly, the dearer purchased opportunity to control. The shorts learned yesterday
 they were severely cornered and
 ntic efforts to secure stock. The
 nt for their relief began last night
 failure of the leaders to agree left
 in desperate straits There was
 consolation in the extention of time ime for delivery but that after all was rely deferring the reckoning. Kuhn oeb & Co. this morning renewed their ,ffer to loan the stock they held. but it was stated that the Morgans. for some reason. did not Care to enter the compact The reckoning Is to come tomorrow and | despite the promising features of the | closing hours today doubt fingers as to | he effect of the Northern Pacific situa- | ion upon the whole market
 One Bank Loaned $1,0oo, ,ooo.
 A banker who participated in the move | nent to relieve the market, this evening