The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1902-12-17
AFIERTHE WIS.CENl .
Northern Securities Interests Cred
tied With a Plan to Acquire
That Road.
Hills Interest in the Ashland Ore
Docks Thought to Be
@s Significant.

Chicago, Dec. 1.-THE Record-Herald
this morning publishes the following:
There is general belief in western rail-
road circles that the Northern Securities
company has acquired or is acquiring a
controlling interest in the Wisconsin Cen
trail railroad. Affairs in the traffic world
have been shaping themselves of late in
manner that would clearly indicate that
if James J. Hill is not the owner Of a
large share OF Wisconsin Central stock,
taht railroad is working in close harmony
with the northern lines. -, - .-
When in Chicago last week Mr.. Hill was
asked If he owned the road or If the
Northern Securities company was acquir-
ing it, and replied, II do not own the road,
nor do / want it. I have enough rail-
roads for the present to keep me busy
Mr.. Hills denial. however, can natur-
ally be taken with grain of salt, and 1t
would not surprise a great many we'll In
Of the Hill control Of the Wisconsin Gen.
trail would soon come. e.,
A circumstance said to bear strongly
upon the Hill interest in the property is
found in the recent visit Of Mr.. Hill to
the city Of Ashland. Some time ago the
great ore docks in that city, which were
the property Of the Wisconsin Central,
burned up. Shortly after the fire Mr.. Hill
spent two days. in Ashland looking over
the dock property with a view, 1t is said,
to seeing If it would be advisable to re-
build. The Northern Pacific runs a spur
from Duluth to Ashland, but did not use
the ore docks at the latter place., so that
Mr.. Hills interest in the matter could not
be accounted for by a Northern Pacific in
terest in the dock property. 1t is even
said that the Hill ownership of the Wis
consin Central will cause an abandonment
of the ore docks at Ashland for those at
Duluth, which are used by the northern
lines.
In explanation Of Mr.. Hills alleged de-
sire to obtain the Wisconsin Central it is
stated that he wants to get a larger hold
on the traffic between the great northwest
and the east. A large portion of the traf-
fic between the sections now goes across
Lake Michigan by ferry, where it is de-
1ivered to railroads for connections at
Toledo, Detroit and Buffalo. Nearly all
the immense ore product goes part rail,
part water route, and in this connection
the Wisconsin Central would prove a val
liable adjunct to the Great Northern and
Northern Pacific roads.
The Wisconsin Central touches Lake
Michigan at Manitowoc, Milwaukee and
Chicago with boat connections from the
first two with Frankfort, Ludington,
Grand Haven and Benton Harbor. Sight
is not lost of the most important fact
that Manitowoc is the only port on the
east side of the lake which remains open
the year around. Mr.. Hills oft expressed
wish is to bring the markets of the east
within the grasp of the northwest terri
tory and with rail and water route open
the year around. The means for so doing
would be at his command.
The acquisition of the Wisconsin Gen.
trail would practically be an easy matter,
as it is mostly held in the east. The
common stock issue is ST.. 800, 900, the pre-
ferred s12,5OO,OOO and the funded debt
$26,276,5O0. The company has 1925 miles
Of road and an earning capacity Of about
$6,000,0 00 =. ...