The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1902-09-02
PLAN OF THE
MERGER men
They'll Push for Decision Uphold.
ing the Mergers Legality in
the Peter Power Case.
Securities Attorneys Figure That if
Successful They Will Favorably
Offset Public Sentiment. 49,
M. H. Boutell Will Appear for Pow
er and Argue for Dismissal With
out Touching Legality Point.

The question of the legality of the
Northern Securities merger may play
prominent part in the coming hearing of
the case Of Peter Power against the
Northern Pacific which has held the
boards for some months. All depends upon
what grounds the decision of the court Is
to be made.
1t is understood that the Northern Pa
,ciflc attorneys, now that they have Power
eliminated from the case under an avail
anche OF testimony, will attempt to gain a
big point for the merger with the public
by pressing for a decision on the merits
OF the case. Attorneys for the state and
the government alive to this posi-
bility and are watching developments with
interest.
M. H. Boutell, who has been connected
with the action since it first started, has
not, contrary to report, retired from the
case. 1t is understood that he will make
the principal argument for the plaintiff.
Peter Power, and will move for a dis
missal on the ground that as Power estab-
lished no ownership Of stock and the evil
dence shows the contrary, decision on
the merits of the case should not be given.
Boutelle's fight on this point will really be
a fight against sweeping decision such
as the Northern Pacific attorneys are
anxious to secure for its telling effect on
public sentiment
Peter Power began the action, pleading
that the retirement of the Northern Pa
clhc preferred stock, a preliminary to
merger plans, was detrimental to him as
stakeholder. The game is up with Power
and his suit, which was really begun by
his hackers for Interior purposes. It now
remains for the attorneys for the plaintiff
to retire in the best order, conceding the
smallest possible victory to the attorneys
for the road. The question of the legality
Inf no
been raised in the pleadings, and if the
case Is decided on its merits, decision fol
the road will undoubtedly be heralded as
merger victory. The railroad attorneys
would like to score this point.
1t has been reported that the attorneys
for the state and the government in the
suits against the"merger would attempt tt
| "cut in on the present suit, so as to argue
against a decision touching on the legal
| ity Of the merger. This, however, is sale
to, be impossible. The decision can have
no effect upon the suits against the mer.
ger started by the United States and thu
| state of Minnesota.
1t is represented that the crowd tina
was really back of Power started the sui
to interfere with the plans of the biz
| merger promoters and If possible to smasl
the merger entirely. That meant inactiv
| ity and low prices for Northern Securities
stock in Wall street 1t is pointed on
that if, the case is decided on it's merit,
and advertised as a sweeping merger vic
tory Northern Securities stock will g,
many 'notches higher and there will b.
lively doings generally in Wall street. Il
I addition ito that all connected with tn
merger are endeavofing to score as man:
points as possible with the public. The
would like to connect the present suit, tn
coterie that promoted it, and their tactics
with the legality Of the merger,
Richard A Mabey snecia1 examine al
said this morning that he expected to f1l
his report with the United States distric
court late this afternoon. The testimon
is voluminous making $500 printed page
aggregating 1,105,O 900 words 1t is under
stood that the Northern Pacific attor
neys will press for an early hearing. Tn
road will be represented by Francis Lynd
Stetson and w. D. Guthrie of New Yor
and Frank B. Kellogg of st. Paul.