The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1902-02-18
Tie Hartman N. p. stock.

tations at the time cut some figure in the
proposition.
The Hartman N. r. Stock.
Then came numerous questions on the
agreement of the Hartman interests to
sell their Northern Pacific stock and the
conferences held. The opposing attor-
neys wanted to locate Mr.. Hills work in
conferences among Morgan, Hartman and
others interested in the deal. Mr. Hill
could recall no conferences on this sub
ject. He had attended one meeting in
Mr.. Morgans Offices, was not called there
for any special purpose, His best recol-
lection was that while he was at Mr.
Morgan's Office Mr.. Bacon of Morgan &
Co., and Mr.. Hartman had gone into an
other room to settle the details OF the
deal. He had taken no active part in any
conference. Mr.. Hill was asked if it was
agreed previous to the sale by Hartman
interests to Morgan & Co. that Hartman
was to have large block of Northern
Securities stock. Mr.. Hill knew that was
the course pursued, but further details
he could not testify. He said there was
no connection between this exchange OF
stock, and the selection of Morgan as an
arbitrator in Northern Pacific affairs.
Define "Hill-Morgan Interests,
CAT the time of Morgan's selection as
arbitrator, was the then board of direc-
tors favorable to the Hill-Morgan inter
ests?" was asked. Mr.. Hill replied
Now. will you please tell me what are
the Hill-Morgan interests? 1 read that
phrase n the newspapers, but l do not
know what it Means
Judge Lancaster referred Inn to his
statement of yesterday that there was an
agreement between himself and associates
and Morgan and his associates to hold
Il, ~.oJ.H ~
Northern Pacific. This alliance was de-
fined as the Hill Morgan interests.
Mr.. Hill answered that the then board
of directors was selected mainly by Nor
gan and the voting trust which had con-
trolled the Northern Pacific. Some were
his trends and some were not.
The plans laid to secure action by the
board Of directors to retire the pre-
ferred were gone into. The plaintiff S
attorney took much pains to secure from
MIR. Hill a statement that he had con-
sidered the necessity of postponing the
annual meeting of the Northern Pacific
until after Jan. /, 1902. This in order. to
keep the Hartman party from annulins
any action by the then board Of directors
in case the Hartman party were in a po-
sition to capture the board at the annual
meeting in November. - .
The witness gave his present holdings
IL
three millions. ell had turned between
eight and nine Millions into the Northern
Securities company. What his associates
individually had done in this direction he
did not know. ~ a. '~--z !. a.
Other Securities Held.
Mr.. Hill, in answer to question wheth-
er the Northern Securities company had
voting committee said that the board
had appointed a proxy to vote the stock
in case occasion. should arise. The wit
ness said he was one of the proxies fol
the Great Northern. A different proxy
was named for the Northern Pacific.
1t developed that $4,000 shares of the
Crows Nest Coal company were property
of the Northern Securities company. The
company had also agreed to buy other
coal lands, including one tract on Puget
Sound. r.
l. The witness was asked if the real object
Of the organization of the. Northern Secur-
tiles was to purchase the stock OF the
Great Northern and Northern Pacific and
issue it's own stock in payment therefor
Mr.. Hill referred to the terms OF the cir
cular issued at the time of organization
stating the purpose. Ne -
Further questioning brought out the
statement that the Securities company
cont emplated acquiring large interests IL
iron ore lands in Minnesota. It was also
the intention to acquire other stocks anc
bonds, E..s... :'.5.; .. ="