The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1902-05-03
AgTyxHW E}gGsH SCHOOL,
NORTHWESTERN BUSINESS GOSSIP
Canadians Fear That Control Of the Canadian Pacific
Will Pass to American Railway Kings-The I'm
1nense Equities of the Canadian Road Next Weeks
Weather Factor in Wheat Acreage. = ~...:-

More than at any time since the buying
Of railways began to take on. such mag
niicent proportions Canadians fear that
Morgan and the associated railway kings
of America will finally manipulate the
checkers SO as to work the Canadian Pa
cific into their king row. Canadian Pa
citic stock is hot cake It's activity,
while partly due to the Canadians them
selves, is none the less alarming to them
when they contemplate the possible future
of the big system. Canadian newspapers
whose editors were not ready to say much
a few months ago, are reluctantly admit
ting the possibility Of American control
and censuring the dominion government
for not taking measures to control the
road while it had the opportunity. Cana
dian shareholders are being urged to hold
their stock for better prices as well as
doing the patriotic in keeping control of
a big Canadian property in Canadian
hands. ..--.
Northwest vitality Interested.
The northwest is DIRECTLY interested in
the future and fortunes of the Canadian
Pacific. AS system it furnishes railway
competition for the north half of the
American continent. A large part Of the
northwest is served by the 500 and Du-
luth South Shore and Atlantic systems,
which are directly controlled by the Cana
dian road. When the big plans of the
American railway kings blCssomed out a
year ago, reports were numerous that the
Canadian Pacific would be gathered in.
This idea was secuted by Canadians and
by officials who were reasonably familiar
with Canadian Pacific affairs. 1t was rep
resented that the people of Canada took
too much pride in the property to allow
it to pass TO American control, that large
blocks of stocks were owned where the
American Napoleons could not reach
them, especially in Europe, and finally
that the English stockholders and the do
minion government stood like stone wall
in the way of such deal. In spite of
this feeling of security rumors that Nor
gan and his associates have actually Sc
cured options on large holdings in Am
sterdam and that Wall street is accumu-
lating stock for the purpose of control
are given much credence in Canada. The
dominion government IS not being played
up as such a powerful obstacle to Ameri-
can plans. The fact that it is possible to
move blocks of Canadian Pacific from
|. their present anchorage has Jared the
confidence of many Canadians in their
ability to withstand American railway in
vasion,1 and leading Canadian newspa-
| per has given the opinion that it now lays
between Morgan and the Canadian in
vesting public, with the odds naturally in
! favor Of the concentrated power of the
! former.
Canadians Urged to- Stick.
Canadians of large and small means
! own much Canadian Pacific stock. They
have been buying more and they are
being urged to hang to their holdings like
| grim death because it is bound to go ur
and again because it means Canadian con-
! troll. In a recent interview a Canadian
| Pacific official predicts that the stock will
1 oot to 5000 in q cOmDaratiVely short time
!. luis now selling at between $125 and $50
per share. One year ago it was selling
at less than par. New York authorities
are carrying on the other side of the de-
bate by the broad claim that were the
Canadian roads system of financing or
approved American lines its common
stock dividend last year. would have beer