Bismarck daily tribune. [volume] (Bismarck, Dakota [N.D.]) 1881-1916, 1902-01-04
MERGER PROPOSITION

MERGER PROPOSITION
WHAT T. B.WALKER, ONE OF THE
LEADING AND MOST INFLUEN-
fTIAL CITIZENS OF MINNEAPO-
LIS HAS TO SAY ABOUT THE
MATTER.
The following statement from T. B.
Walker, one Of the most influential
men of affairs in the northwest, is of
interest at this time:
This is not merely a question
whether or not the Northern Pacific,
the Great Northern and the Burling-
ton roads would be more satisfactorily
handled, if the majority of the capital
stock of each was held by those not
having a common interest. That
might be a fairly debatable question
and the general judgment would be in
favor of Independent ownership. At
the same time, taking one year with
another, and considering all the direct
and indirect influences of the railroad
upon all business interests involved,
and it may reasonably be commended
that under a good, fair management,
through a unity Of ownership Of capital
stock, might prove decidedly for the
best advantage of all the business and
industrial interest along the lines.
But this present situation is one that
must be considered from a broader
point of view, than the general ques-
ton of Independent management as
against common control.
1--WE must take things as they are
and face existing conditions and not a.
mere theory; principles and not preju-
dices. In all conditions Of life we are
brought continually to decide, not so
much just what we would like best, as
to know which of the several ways we
can go would be best for us to travel.
THE final proposition in this case is
this: Would the people Of Minnea-
polls, St. Paul, Duluth, St Cloud, Far
go, Grand Forks and the cities further
west, prefer to turn the traffic on these
northern lines to and from the east
down over the Oregon Railway & Nav
igation company lines, the Oregon
Short Line, the Union Pacific, the
Northwestern, and then on through
Chicago over the Lake Shore and New
York General, in preference to bring
ing it through our own territory? 5
"The capital stock of railway COM
panies must and will be held some
where. If, through prejudice and
legal proceedings, the holding of such
majority by the Northern Securities
company should. be defeated, the hold
ings would then pass back into the
hands of the men who held it before
the transfer by them to the Securities
company. If they should be driven
out Of their holdings and the major
ity of the stock gathered up by the
Vanderbilts and Rockefeller interests,
what possible advantage would accrue
to the people on these lines?
while I am not and never have
been interested in railroads or their
stock or bonds, I have, kept closely OBJ
servant Of all the Developments from
the time that Minnesota and this
northwest had only nine miles of rail-
way. UP to the present time. 1 know
the history of these railroads and of
the men who have handled them.
I know the motives Of the man who
is foremost and responsible for this So
called merger. There is no one in
this country or commonwealth who is
more interested in the welfare and de-
velopment of this northwest than Mr..
Hill. w. +
i have known him since he was a
clerk on the wharf in st. Paul.
have followed him closely in all his
railroad building from that time to the
present. I know his motives and am
bltlons were underlaid by two prin-
clpal and intense ideas.
T build and establish a great rail
way system, and, equally desirable, to
be known as the, great friend and de-
veioper Of the great northwest. And
taking this country to the northwest Oh
us at a time when was repeatedly
oHered hundreds Of thousands of acres
In h Red river valley at 40 to IS cents
per acre, it has made the country into
n OF the most prosperous regions Cd