The pioneer express. [volume] (Pembina, Dakota [N.D.]) 1883-1928, 1902-11-07

kong; it is As cents a hundred. 50 a ton. on
those commodities. A line reaching St
between St. Louis and Chicago puts US in
q vastly different position; and that is the
re- SO Why IT vas Of such Importance for
c us 20 control the situation. We could not
SeontTol II unless we could give a market
Tor the production Of the line-products
o os seq along our road-whether it was out
fnraat 1alfle or from the farm or out of the
not sell 1t. he would stop PRODUCING. And
mat was the problem we had to meet.
aha WIN s the Burlington we find ourselves
Oriental Trade.
-. MI Hill. are you able to state the
~ neepon of up that It bs s ssa
a. The growth has been ~ ve e,.s r sl1d Tn
some commodities more rapid than in
H isrea IN Last year the increase was very
Manufactured. and in machinery and in
some oi1 other commodities it fell off. The
The Pa tmK; was VI; Go considerably reduced.
carry the oil we did. i'0N
the total a@o tha a e. of the traffic.
A. Well. should say that in 1oo2-the
year yea ending June 80. 1o02-the business
preWou 1an twice as great as
were r. better position to do the business.
~. Can you give us the quantity Of cot.
in e iei and or P 1852 goods that was
a. A. I can give it to You exactly by tho
@: Yes, by the Great Northern u,a A..
speaking o. ''ieih We are
goods 1911 9e 5ass q s9 tss piece
against Al pa. 900 pounds the next Year
Continuing his testimony, Mr.. Hill en-
P Pa neg that they made their ships large
could carry a cargo equal to what tivs
ordinary freight steamers could carry WIFI
omy lone one c, crew instead of five crews In
ton to hinder commerce, but to promote #
ana an IT. has greatly increased commerce
nationg II These unised States and foreign
been perfected about year and the b u'siy
R Morfh mas more than doubled on the Great
totaI Of tG pnaa He said he thought
road roa will show the increase to i he a ahi
81 20 per cent. and the foreign business is
i haen seq oyer ~ 100 per cent. I'VE have
per cent in a year on the local b tW in &c
between the Pacific coast and the Twin
S,tses "a arg a. Lake Superior" was his an
the increase OF business had had in tbe
REDUCTION Of rates. o Ala ei4e
P y: AT 1td the tine of the purchase of the
or or, mt Mt to restrain or hinder the
tersts 81 5hH burlington read itself, in
what has been the effect Of that
purchase upon the traffic Of the Burlins.
ton r9 Sn ;. Has it hindered it, restrained
IT, or mas IT Increased it?
A: think that the traffic Of the Rur-
ington road from Billings to the south
west ives mas been very largely increased, and
heen considerable. ''>''
@ What is likely to be the future ef
fsct: Will it be to restrain or to enlarge
the commerce Of the road?
A: If the plan as CONTEMPLATED is car
ried out, It should make very large in
ia,s IN e tha traffic. For instance, If the
races IN Missouri or Southern illinois or
down IN that country where they get
cheap &C coal, and bring back coal in the
moving both, that busino SIS alone Should
rul. very som into millions of tons. That
IS enc. l Know of no place where the
OF no place, where ii would not be in
creased and benefited. l can imagine
why they had not begun this earlier was
because It was a very large undertaking
t6r+ me ae Great it Northern road alone, and
merging from an embarrassment which
made 1t ineXpedient for it to Join.
The question of a holding company was
was not discussed or thought of? neither
was there as,, any purpose at that time to
stock. e
He said one of the Great Northern d.
rect9rs raised the question that inasmuch
as asa Inc ne purpose onl of the Burlington stock
involved the joint and several liability Of
the entire amount of the purchase, it was
a matter Of consequence to the Great
Northern to know that the Northern %.
c1hc would not pass into the hands a.
people who might be interested in other
- He LED did S not think that any of the officers
thing to do with the Organization Of the
er SECURITIES The North
pepole who owned it. The corporation did
not own any stock that he was aware of
a az La at any rate It did not sell any stock
own sales and those Of his Immediate
1rlends: the eleven parties he had named.
t Mers a az without anv condition or
else. There was no understanding as to
how the Northern Securities company
any kind attached to the sale. The sale
was not the result OF any agreement with
Replyjn- to questions as to whether he.
Hill: solicited parties to buy the stock
Of the Northern Securities company, Mr..
Hi stated that replying to inquiries, he
determine for themselves-and he had 90
many inquiries that finally he. prepared a
e,realar letter ter as lar an in which he
company did not operate and could not
operate a railroad. but could only buy
and sell shares of railroads. and the value
of its. stock depended upon the profit
made bv the railroads the stock of which
the Northern Securities company might
He left each INQUIRER to act his own
pleasure without giving advice.
The Second Day.
On the second day of Mr.. Hills testi-
mony he was cross-examined by the at
torneys for the government. It was de-
veloped by his testimony that Hartman, 4
who represents the Union Pacific's inter-
ests. Is the largest Individual older
In the Northern Securities company.
This came about by the large purchase OF
Northern Pacific stock by the Union Pa
;cifc made during the raid in May. 1901.
In response to questions Mr. Hill said
there was nothing to prevent Mr. Harri-
man from buying more stock of the
Northern Securities company, II he was
willing to pay the price asked for 1t by the
owners. He might even buy enough to
have control, but he, Hill, did not think
the owners would be likely to sell it, and
80 that though he now has some eighty
or ninety millions of the four hundred
millions OF stock, he did not consider It
likely he would ever have control
He explained that the organization of
the Northern Securities company was to
prevent any such raids as were made In
1901 and would make It very didfcult even
III not substantially impossible for any one
person or SyndiCate to yet. control of the