The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1902-01-25
Mr.. Hills TESTIMONY


commerce commission yesterday, chalr-
man Knapp produced charter OF the
Northern Securities company ana ASKED
the president Of that company (Mr. HID
If he recalled provision in the charter
declaring that the right of d share holder
to inspect the books Of the company would
be subject to the will of the directors MI.
Hill said he was not aware that such
provision existed in the charter.
The following is an extract from the
charter OF the Northern Securities COM
pany:
The board of directors from time to time,
shall determine whether and to what extent
and at what times and places, and under what
conditions and regulations, the accounts and
books Of the corporation, or any OF them,
shall be open to the inspection of the stock
holders, and no stakeholder shall have any
right to inspect any account, or book, or doe
ument Of the corporation except as conferred
by statute by the state of New Jersey, or
authorized By the board Of directors, Or by
resolution Of the stockholders.
Mr. Hill enjoys the reputation of being
a, thoroughly posted man about every
feature of his own business-he is re-
markable for that-and yesterday the
commission asked him all sorts Of ques-
tions about his affairs and about the rail-
roads in which he is interested to which
he made ready answer, illustrating his
well-known familiarity with details. So
2Mr. Hill must not be surprised if his
statement that he was not aware of the
exist ence of this very important and very
significant provision in the charter of the
Northern Securities company must be ac-
cepted by the public with great difficulty
Nor must he be surprised if his other state
ments with regard to the reasons for the
existence of the Northern Securities COM
pany are accepted with equal difficulty.
Another portion OF Mr.. Hills testimony
will also create some surprise. He said
that low rate is not the result of COM
petition; that it merely shows how low
a rate railroad can afford to give. If
lower rate is not the result of COM
petition, why, in the new tariffs which
Mr. Hills freight people have just issued,
and which were analysed in T h Jour
n a | a few days ago. did the Great North
ern make lower rates for longer distances
in a competitive territory than in a nom
competitive territory, the volume of traffic
being heavier in the noncompetitive ter
ritory? .'=~7.
In another particular Mr.. Hills testi-
Dlony is peculiarly interesting. When
asked whether he had issued instructions
to Northern Pacific or Burlington officials,
the purpose of the question being, doubt
less, to develop the fact whether actual
monopoly OF control existed, Mr.. Hill said
he had Issued no instructions to those
officials, but that when they had come to
him for "advice" they had received it,
Occasionally he had Volunteered "advice"
and Thought they would listen to it.
Mr.. Hills discrimination between Gin
structions' and "advice" is so fine that
1t is bound to command admiration for
its delicacy wherever attention is called
to it,. 1t suggests a new relation, too,
between the superior and the subordinate
officer, when such a superior as Mr.. Hill
describes it as that of an advisory rela-
tion, and we quite readily agree with him
in thinking that his subordinates will
listen to what he calls his advice" We
might even go further and venture the
opinion that if they do not listen to his
advice they will wish they had. But,
of course, we cannot venture to regard
this ''advice" as instructions" because
Mr.. Hill says he has given no instruc-
tions.'' 5.-5-
MIR. Hills interview with the interstate
commerce commission yesterday sug
gests the idea that if the supreme court
decides to take jurisdiction in the North
ern Securities case and appoints a COM
missioner to take testimony, skillful
attorney ought to be able to develop some
very interesting facts in examining the
president of the Northern Securities COM
pany. @ ,..