The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1902-03-26
THE BEGINN Err.

81 never knew two railroads that did not
compete" the witness replied.
AT the present time the Burlington is
operated joiEty by the Great Northern and
Northern Fac6c?"'
"Nothlng Of the kind; the Burlington is
operated Independently like any other road
In the event of a dispute between the
Northern Pacific and Great Northern over
the Burlington. who would win?'
4 do not know
"Was not the Burlington deal precipitated
because somebody else was after it?"~
r. y do lot know. If you ask my personal
opinion, l might say YES
Mr.. Morgan then told how he heard that
the control of the Northern Pacific was
sought by other roads.
Il was at AK les Bains,'' he said, ''and
! heard that the Union Pacific had acq hired
the majority. 1 doubted it because l thought
L could depend upon the interests associated
| with US as holders of Northern Pacific COM
! non to hang onto their holding. However,
the news came to me so strong that thought
| had better make safe, and so between May
ard May we went into the market and
bought $15,00O,0OO worth of the stock. I fig
u1ed the matter up and knew that such an
amount would be sure to have the majority
Of the common stock"
why were you anxious to have ma
jCr1ty interest in the Northern Pacific stock?'
well, our firm was fiscal agent of the road.
felt it as a moral obligation upon myself
TOW ards those who had Entrusted with
their interest to see that the road did not
pass into the hands of the Union Pacific in
terests. l felt in honor bound to prevent that
as matter of protection to the minority
stockholders"
You bought your stock in the open mar
ket?"
Yes, sir
"You did not buy anything by private
sale?"
Not a SHARE
'What did you learn when you came home
about the discussions and as to who had con-
troll of the road?"
I'VE had control"
by we, you mean yourself and Mr.. Hip"
mot at all | mean J. P. Morgan & Co.,
and their associates
STRATTON's COMPLAINT SERVED
Papers in Washington Suit Served
in st. Paul.
Charles Reichow, deputy sheriff of Ram
sey county, made personal call yester-
day afternoon on G. S. Mellen president
of the Northern Pacific, and James J..
Hill, president of the Great Northern.
His visit was for the purpose of serving
copies of the complaint drawn by At
torney General Stratton Of the state Of
Washington.
The two railroad companies are named
as defendants in this suit, and were no.
tilted by service on the presidents A
copy was meiled to New York to be served
on the Northern Securities company. 1t
will probably be entrusted to New Jer-
sey deputy sheriff, and Will be served on
the Hudson Trust company of Hoboken,
which is the trustee and authorized rep
resentative of the Northern Securities
company. ~ ...
The complaint has not been made public.
1t is understood, however to follow in
the main the form Of the Minnesota com
plaint but embodes some features of the
document drawn by Attorney General
Knox. The Washington constitution has
a clause prohibiting trusts and combina-
tons, which brings the company in the
same position toward WASHINGTON state
that it maintains toward the federal gov
eminent.
Seven Prayers Made.
The bill of complaint covers thirty-one
printed pages. It's recital is similar to
that of the Minnesota suit The relief
asked for is under seven requests, as fol-
lows:
That the officers and directors of the North
ern Securities company be restrained from
voting any of the capital stock at any of the
meetings of the Great Northern or Northern
Pacific
That it be restrained from in any manner
aiding or advising or interfering with the
management of the affairs of either.
That officers and directors of the Securities
company be restrained from exercising any
of the powers or duties of officers of either
railway company.
That the Securities company be restrained
from receiving, acquiring controlling any
additional stock Of the railway companies
That the two railway companies be en-
joined from recognizing or accepting the Sc
curities company as the owner or holder Of
any shares of the capital stock of either rail
way company, and from permitting the secu-
rites company to vote such stock, and from
paying any dividend such stock to said
company or it's assigns, or from recognizing
| as valid any transfer mortgage, pledge or as
| signment by such company of such stock.
! That the Great Northern be restrained from
| interfering with, debating to or controlling
| the policy business of the Northern Pa
| ciic.
! That the Northern Pacific be similarly re-
! strained from interfering with the affairs or
| business OF the Great Northern Railway COM
eiE5 "a