The sun. [volume] (New York [N.Y.]) 1833-1916, 1902-12-15
HILL DENIES GLOOMY TALK.
But THERE ~ roo !MUCH sPECU-
LATION NOW, ne SAYS.
Didn't say Al the Things Credited to Him
In Chicago About the End n the Era
OF OBSERVATION-DISCLOSURES Of His
Home CITY Criticize Him severely.

Home cry Criticize Him severely.
ST. PAUL, MINI, Dec. Thames J. Hill
returned to-day from an Eastern trip and
said that the interview with him sent out
from Chicago was purely imaginative and
that he had no talk with newspaper men. He
was frank in admitting that there was too
much speculation and boom" but would
give no opinion as TO what the outcome
would be
Three interviews with me appeared in
Chicago Iapers." said Mr.. Hill. Il talked
with no one. and the articles were just
Imagination. Three or four reporters met
me at the train, but told them had moth
ing TO say.
The business Of the country is UNDER
going a readjustment TO most changing
conditions. The most alarming thing is
the decrease in our exports. We are i'm
porting much more than we export. II is
hoped that some adjustment will be made
to meet the conditions. There Is too much
speculation now; TOO much boom. just
how II will come out do not know
The newspapers severely arragn Mr.
Hill for making pessimistio prophe cies
for the future. The Minneapolis Times,
in a leader headed Jeremiah HILL" says:
In an interview given in Chicago Mr..
james j. Hill says; Prosperity IL q. its
zenith. just a straw and |, will take q
downward path He then proceeds TO
provide not a straw but a stack Of them.
by "a, ing that New York is In the throes of
a great unrest; that moLe eyed incl are won
dering' and do',t know just where they
are He also states with naiyette nm
natural To him that hi belief in coming
woe IL cnEendered 10y the undercurrent
consisting Of things men do rot speak q
bat think about
I'VE submit tina, men who. without any
thing more tangible han Apprehension Of
coming war, cpnfine themselves to think
ing and abjure speaking show far greater
sense than this Northwestern prophet
poser. who in this ease has talked wit hout
thinking.
'Thc amour, Of EVIL that could I've wrought
by such Interviews - hat with which
Mr.. Hill Is credited il would he impossible
TO oyercstiniate., II was talk like this hat
rrecipi,atcd ard continued the troubles
~ the early 90 Every one i.nows to-day
That there was no need for the lack Of con-
;idence ia resources, and knows, as we'll
hat 1t vas his lack that precipta'ed the
thousand failures
we do not wish 70 do Mr. Hin an inius-
tiCe; heaven knows he is open TO enough
just criticism. but If he gave the interview
reported, and 1t Was no, printed until a.
suranCe OF its correctness he'd been re-
ceived from Chicago, he had a purpose
and that purpose. as affecting the public
was no, unselfsh 1t il fair to presume
that he regarded it wise to start a story
ahcoting general prosperity and divert,
If possible, attention from the suit now
te!nG pressed home by the State 81 Min
nesota against the Illegal merger OF which
he ~ the author and for which he should
bear the greatest blame"
The ST. Paul Dispatch says: Mr.. Hill
has reached tho granny state He sees
nothing but d,-asi "rs ahead This IL al
ways the argument We have urged against
the maig'r, that it. rojeCtor was certain
Ia die, Out this is the first intimation we
have ever had that Mr. Hill did not think
himself mortal
40 faith in enterprises not managed on
sound and careful business principles
He sees nothing but certain wreck and ruin
in the multitude Of industrial schemes
put upon the market on the basis Of largely
fictitious capitalization. A to projects
OF this kind he has always been a pessi-
mist, and there IL nothing AZ all new In the
strain Of comment in his Chicago interview.
What he partly meant by II evidently
vas that the day Of reckoning was not far
on for enterprises not based on solid values
and the Curtailmsnt Of whose arning
power will And them swampcd with debt
and for spectators in the securities which
represen, chiefly wind ard vatsr The col
lapse Of one concern OF this kind would
mean the collapse Of others Of like cha rac-
ter. There would be trouble in Wall Street
for time There would he q lot Of failures.
n good many individual investors and
spectators would be hurt, some Of them
ruined, but there would be no permanent
pause in the forward march Of our indus
trial development