Arizona republican., 1902-01-20
HILLS PROJECTS
 MERGER MATTERS
It Is Expected There Will Be Developments
 This Week.
The Great Magnate Will Visit New York Soon, When It Is Thought He Will Speak of Operations on the Coast.

1 New York. Jan. 19-The reports that ! President Hill of the Northern Se-
 curities company is seeking to acquire
 he Pacific Coast company have con- l siderable basis in fact. 1t is here so declared. Negotiations for the purchase 1 of the Pacific Coast company, it is claimed. are well under way, with good prospects, of the deal reaching a sue cessTul conclusion Officials of the com p1ny refused to discuss the report that
 Ntr. HI, is reaching out Tor the Pacific ] Coast company. One official said the president Of the Northern Securities company would he in New York in few dave. and he was the proper per son to make an announcement concern ing such a deal, providing there is any announcement to be made.
 Many prominent financiers are Identi- fled with the Pacific Coast company among them F. H. Hartman and T. Jefferson Coolidge of the Union Pacific. Associates of James J. Hill are also on the board. Henry w. Cannon, presi- dent of the Chase National bank. in which Mir. Hill is largely interested. is chairman of the board of directors. The
 o.her directors arc II. A. Tucker. !. D. Farrell, John Kean. Daniel S. Lamont
 Grant E. Schley and J. r. Heimer- dinger
 The claim is made that the dock facil-
 itieS Of the Pacific Coast company are
 the best in Seattle, and that this is one ! of the reasons why the Northern Se-
 curities company is so anxious to ac-
 qIire tEe company.
 The Pacific Coast company was or
 sanizcd fifteen years ago in order to
 carry into effect the plan and the
 agreement of the reCrganiza ton Of the
 oregon Improvement company.
 The property of the company includes
 all the capital stock Of the Columbia .S
 Puget Sound Railroad company. all the
 stock of the Pacific Coast Railway
 company. all the stock of the Port ! Townsend Southern Railway company.
 dIl the stock of the Pacific Coast Steamship company. besides wharf and
 dock properties. coal, oil, timber lands. The property of the Pacific Coast
 company in Seattle includes a part of
 q site selected by Mir. Hill a short time
 age for ;he erection of union station.
 he Northern Pacific railroad holds the
 other part. It is directly on the harbor
 front. The wharves, it is said. win be
 used by President Hill to accommodate
 his Asiatic steamers.
 The capital stock Of the Pacific Coast company consists or Sl,J-5.bOO D per cent non-curIulative first preferred, 4.OO0.- 0T per cent non-cumuiatIve second
 preferred and S7.OO0, 900 common stock.
 Tn connection with the report that the control CT the Pacific Coast company
 is to pass to other hands. the following
 extract from the last annual report has interest:
 The past year has witnessed unusual
 increase in population. extraordinary
 development of the varied resources and consequent prosperity throughout
 'le entire Pacific coast. The prudent and liberal policy of the transconti-
 mental railroads toward the territory in which your company is directly inter ested. the rapid and substantial growth ot manufactures generally. and the con- stantly extending market, domestic and
 foreign, for all products of this coast,
 chief among which we may mention
 cereals, lumber. precious metals, fruit,
 salmon and other sea food, coal and oil, insure continuation of the prevail ing favorable conditions"