The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1902-07-25
Deal Is Not Officially Announced, BH
Confirmation Comes From n
Reliable Source.
&. n. HARTMAN WILL BE
MADE THE CHAIRMAN
Consolidation Will Make a compIets
Iranscontinental Line-John D. and
William Rockefeller, H. n. Rogers,
George J. Gould and James StiIIman
Interested.
Special to The Globe.

Special to The Globe.
CHICAGO. July 24.-The Journal to-
day prints the following: The Chica-
go, Milwaukee & st. Paul railroad has
been purchased by the Union Pacific
road, or rather by the men who own
the Union Pacific.
Chicago f1nanciers Of prominence in
terested deeply in both properties were
advised Of the consummation of the
deal shortly after noon today. 1t may
mean new Northern Securities deal.
The men who will come into control of
probably the greatest railroad in the
West are: E. H. Hartman, William
Rockefeller, John D. Rockefeller H.
H. Rogers, George ]. Gould and James
Stillman.
Hartman to Be Chairman.
Some of them already are large
stockholders and one of two are di-
rectors of the st. Paul road. Among
the interests in st. Paul which are to
give way to the new ownership, ac-
cording to the advices from New York.
are those of the Armours, Of Chicago.
Roswell Miller, present chairman of
the st. Paul board, will probably be
succeeded by E. H. Hartman, or some
Of the Union Pacific crowd.
The National City bank Rockefeller
Standard Oil interests with a number
of associated capitalists are the people
behind the deal. 1t has been reflected
somewhat by the activity and gradual
increase in the price of st. Pail stock
in the past week or ten days.
News Big Surprise.
The news of the purchase comes as
big surprise to the public, including
the stock brokers and spectators. st.
Paul stock has been booming, appar-
emily on the prospect of increased
earnings as a result of the heavy crops
and the general advance in the granger
railroad stocks. There has been COM
paratively no public talk Of CONSOLE
dation of the Union Pacific or the ac-
QUESTION Of one by the other.
st. Paul earnings have been unprece-
dented for months past, and the talk
has all been along the lines Of St.
Paul broadening out and taking in 9TH
er roads, rather than it's sale to any Of
It's competitive or connecting lines.
Details Are Secret as Yet.
The details of the purchase are as
yet secret. Public announcement of
the deal may be delayed several days.
Whether it is to be another Northern
Securities combination, a merger of the
Union Pacific and the st. Paul, wheth-
er the two lines will be put into one
system or operated separately as they
now are, but with community of in
terest arrangement are things the Chi
cago men interested have not been ad-
vised upon as yet.
The only thing they knew this after
noon was that the deal had been closed
in New York, and confirmation Of this
came from the highest sources in New
York over the long distance telephone
to Chicago-and interested In the ne
gotiations. The consolidation Of the
two roads would give the Union Pa
cific an entrance into Chicago, and
would also make a continuous system
from Chicago to the Pacific coast to
Portland, and to San Francisco in con-
nection with the Southern Pacific
which is owned by practically the same
interests that now control the Union
Pacific.
capitalization Is Big.
The st. Paul has about 1000 miles of
main lines, branches and trackage. The
Union Pacific has about $500 miles.
Capitalization is vast. The capitali-
cation shown by the official figures is
as follows: st. Paul-Common stock,
$55, 5,1S3,900, preferred stock $45, ,754, 400;
total stock, $1O1, ,93S, 300; bonds, $685.
941, 500; total capitalization, $22S,S79,-
500. Union Pacific-Common stock,
$1O4 4,051, 400, preferred stock 500, ,537 $780,;
total stock, $2OS, 5S9, 200. Stock Author
ized-Common, $196,17S, 700, preferred
81 900, 900; total authorized, $296,17S,-
70O bonds issued, $191, 1000; bonds
authorized, $2,00O,000.