New-York tribune., 1902-03-27

the St Paul were certainly closed before the
| Northern Securities Company was ever thought
Of. l never dreamed of il them.
Q.-When did you first hear Of the Northern
Securities Company? A few days before II
! organized.
! Q-You had not been consulted ABOUT il pre-
! vious that time? A.-No. Do you Tls!' me to
tell about the Northern Securities Company!
! Have you finished with the BurlinSto:! 1h"re
! is connection between the two, and don
wish to convey that impression There is as
! much difference between the two as between
! New-YOrk and Kamschatka.
! Odd Mr.. Hill ever consult you as to the
/ danger of some other interests buying the Bur
/ lington? A--Not that l have any recoliee-
/ tiOn of.
| Q-It never came to your knowledge that dan
/ ger might be expected from the Hacr!mans or
! the Union Pacific or the Oregon Short Line?
Ave kept very quiet because when it is
! known that somebody wants thing somebody
| else generally wants il.
GENERAL BUYING OF RAILROADS.
| Q-Had you any knowledge that these inter
! ests were trying to buy the Burlington? A
| No. sir. For months at that time nearly every
/ day somebody other negotiating or try
! ing buy a railroad. l think it reported
| that bought every railroad in the United
| States within a week There connection
! between the purchase of that road and any
| other road, man, woman or child living l have
! told you the exact facts as / knew them.
Q.-Mr. Hill conducted the negotiations for
the Burlington, then he submitted the plan TO
!
| took the Burlington at 5000 share, payable in
1 per cent bonds.
Q.-That the price paid? A-That being
| the price agreed upon, there tacit under
standing that the transaction was closed. Then
the details were taken up by the board of direc
| Tors ana Went TO Europe the next day.
| boards Of directors annroved and carried out?
A.-No. The terms were submitted and then
| the directors carried ii out, and / had nothing
| 70 90 win me details II was SIN moiths peIofe
| OEWe have heard q little about a friendly
contest in the purchase of the Northern Pacific
| stock. When did You first hear tnat somebody
else was trying to buy up the stock Of the the
| Northern faclhc! At must nave Deeh the
| last Of April or the first of May ] didn't hear
| they were trying to buy it, but that they prac-
tcaiiy had control There was no contest that 1
Q,mI NJ am alluding TO the famous 9th OF May
I don't know what Mr.. Hartman or MI Schin
! or ANYBODY else did. When l spoke OF the Union
| Faclhc interests l referred to the company.
| understood that they had acquired control OF the
| Northern racine.
! THE CONTROI, OF NORTHERN PACIFIC
| ii'N ''-> '''' 'F MN 'i''i>E
| Q.-You, being the agent Of the Northern Pa
cifc took stems To control tho road immediately
! W., to.rs ,t,l .a.s,'r. fa1. -, 4,,Ia -
heH hed'u 'hc report l Ielt IN TINS po-
stion. We had reoreanized the Northern Pa
cfc and placed all the securities. and l knew
tho, +bor- ,are fri.,,ds ~ ,,,rs ,,.bo hold rra,,
nc III - 'N' ~ - VIZ " 20
| ucaNy enough Nor'he:H Pacihc upon "hom we
erty. Still, the news came to me so strong I
| S
hadn any DOUBT ABOUT IL Khe" "Aere Ger
tain stock was, and felt bound, since had
| reoreanized the Dropertv and assumed the re-
sn,nsiifit,y for its nolio,. that sbouId protect
| SPohSi"lI''S l"i I'S p"4-S' 'i'"' SI'ui' P''''
it. thought it advisable to buy l5o3on shares
of stock which l proceeded TO do I knew that
aot,,aI,, , 80, ,t, ,,r,troI and ,ba, could not
ac.u"Iy eN'e Us '"e 1,'','i o4 anu ne
! take the minority ana nave II sdCI'''Ieu u 'ie
! Union Pacific interests.
Q.-You had to pay high prices for the stock?
|
Al did not
Q.-Higher than the market price, A-At
the market price
O,-NOue WAS bought by private negotiation at
all? At was all bought in the market
O-The market price had become greatly Ia
| excess of the market value? A-They thought
| so when they came IN deliver their stock not
"hen We, we poustl II. ,.,.-,,.-. .-,.o ,.,i,o
No, sir
O. know nave no rlHht 10 ask the PutS-
~, In 1th 70 ~ %Gia 80 ~, ~ ,t sfoct Itst
| I 6on't think mn to the 7th il went above 12O
/ wasn't here you may remember. l in
EUROPE But that IS my imptessioh. .,. g..
! +bS occoI,rt n9 tre rau-'aJ Dr tba a,roI,nt ~
your house? A.-For the account Of my house
Q.-NOt at the request of Mr.. Hin; A.-No,
SIT
[,Ie " ia 81 Ny nm az .,t 80, ii ~. ~
/ stock or some Of il TO control the road? Al
don't know was not here
-! ma iit' l' .ei, ,iIG' mus ita re e pgc
don't know / tell Won We bGipht II for olIr-
selves.
! Q-They didn't tell you they had bought II
Iid,, ~ th n ~ % az, az oii st t -, ~ 80
Q.-What time did you return? Am July
some time.
y, w ilat u!u you aSceI tam .!e SITUATION |" ne