The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1902-01-02
FAvoRs THE MERGER
Mr.. Walker Thinks 1t Would Be IL
Good Thing for Northwest.

~
To the Editor of The Journal.
II it should come to pass that the So
called merger or Northern Securities COM
pany should be defeated by the efforts OF
those who are SO enthusiastically oppos-
ing 1t, they will accomplish just what
they are so vigorously contending against.
The remedy Will be found much worse
than the disorder This is not merely
question whether or not the Northern
I Pacific, the Great Northern and the Bur
lington roads would be more satisfactorily
handled il the majority Of the capital
Stockton each was held by those not hav-
ing a common interest. That might be
a fairly debatable question and the gen.
eral judgment would be in favor Of in
dependent ownership. At the same time,
taking one year with another, and con-
sidering all the direct and indirect in
tiuences Of the railroad upon all business
interets involved, and it may be reason
ably contended that under good, fair
management, through a unity of owner
ship OF capital stock, might prove de-
cidedly for the best advantage of all the
business and industrial interests along
the lines.
But this present situation is one that
must be considered from broader point
OF view than the general question OF
independent management as against COM
mon control.
Existing Conditions.
We must take things as they are and
face existing conditions and not mere
theory; principles and not preJudlces. IN
all conditions OF life, we are brought con-
tinually to decide, not so much just what
we would like best, as to know which OF
the several ways that We can go would
be best for us to travel. The final propo-
sition In this case is this: Would the
people Of Minneapolis, St. Paul, Duluth,
St. Cloud, Fargo, 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 Rail
& Navigation company line, the oregon
Short line, the Union Pacific, the North
Western, and then on through Chicago
over the Lake Shore and New York Cen
trail, in preference to bringing it through
our own territory?
The capital stock of railway companies
must and will be held somewhere. IT.,
through prejudice and legal proceedings,
the holding Of such majority by the
Northern Securities company should be
defeated, the holdings would then pass
back into the hands Of the men who held
it before the transfer by them to the Sc
curities company. If they should be driven
out Of their holdings and the majority
Of the stock gathered up by the Wander
bilts and Rockefeller interests, what pos
sible advantage would accrue to the peo-
pie on these lines?
The original Hudson River and the New
York Central have extended over the Lake
Shore & Michigan Southern, to Chicago,
have consolidated the Northwestern roads,
the Union Pacific, the Central Pacific, the
Southern Pacific, the Oregon Short Line,
the Oregon & California, and the Oregon
Rail & Navigation company. They are
all tributary to Chicago and New York.
Hhn,r in hn
manner att empting to take into this COM
bination the traffic Of these northwest
ern lines from the lakes to the ocean II
they accomplish this we can say that We
are honored with being way stations on
side line with the main portion OF our
tributary traffic of the northwest travelling
through the country TO the SCUM or us.
And the eastern country which controls
his system, is in favor Of 1t and their peo-
pie, courts and governments refuse to take
any acti ion against it as that would place
them in a position where they would be
compelled to take action against this
still greater merger of the lines tributary
to them. And peculiar as it may seem,
We are taking action which really favors
merger with lines tributary to the
country south and east OF us, that Will
naturally hinder and retard the p-build-
ing of our cities and the development OF
the territory through this country and
cur home roads and people and in favor
of the still greater fortunes OF the east.
To take part against our own roads by
nristaking our own best interests looks
much like going into the camp Of our
opponents to accomplish our own defeat.
What Dissolution Of Merger Means.
What can we possibly gain if this move
ment is successful? Will it accomplish
that which the friends Of the mov ement
are working for? Will it separate these
three roads and put them On an indie
pendent and satisfactory basis? VIII II
lower freight rates? Will it settle w
the country? VIII it build up more new
lines? Will it bring the great antici-
pated Asiatic trade through our terri
tory? On the contrary, it will have g
tendency when these lines shall fall into
the hands Of the Vanderbilt and Rookie.
Teller systems, to paralyZe this mort h
, west at least to much greater extent thar
e could possibly come from men whose es
sential and great interests lie in the de-
velopment and up-building Of this terri
tory alone. If Chicago and New Yorl
were taking steps against this merger ant
attempting t o throw the control of thes,
roads into the hands of men who are in
dividually able to buy them all and con
troll them without any organizations 0
the stockholders it would be explanabl
on the principles of common Interest,"
that guides mems action but when w
ourselves take UP this fight against ou
own people and against our own interest
it will show how much prejudice can d.
as against clearly experimenting the rea
merits of the situation. The eastern syn
dictate would be duly grateful to us for do
ing for them what they could not other
wise accomplish.
While I am not and never have beel
interested in railroads their stock 0
bonds, I have kept closely observant O
all the developments from the time tina
Minnesota and this northwest had onl
nine miles Of railway, UP to the presen
time. I know the history of these rail
roads and of the men who have handle
them.
I know the motives of the man who
foremost and Irresponsible for this so
called merger. There is no one in thi
country or commonwealth, who is NOR
interested in the welfare and develop
ment OF this northwest than Mr.. Hill.
Believes In Mr.. Hill.
have known him since he was cler
on the wharf in st. Paul have fol
lowed him closely in all his railroa
building from that time to the presen
I know his motives and ambitions wer
underlaid by two principles and intens
ideas-to build and establish a great raj
way system and, equally desirable, to
known as the great friend and develope
of the great northwest. And, taking th
country to the northwest of us, at a tin
when l was repeatedly offered hundreds
thousands Of acres in the Red River va
ley at 40 to Is cents per acre, it has mao
the country into one of the most prosper