The pioneer press. (Miller, Hand County, S.D.) 1893-190?, 1902-01-02

the transaction for the Northern Pacific:
while, at the same time. the credit OF the
northern securities company would be much
stronger, as II would also hold a considerable
amount Of Great Northern and other securities.
The Northern Securities company Is organ
lied TO deal In hlgh-class securities, to hold
the same for the benefit OF its shareholders and
10 advance the interests OF the corporations
whose securities Il owns. Its powers do not
include the operation OF railways banking,
mining nor the buying selling Of securities
or properties for others on commission; II Is
purely an investment company and the OBJ
tect OF its creation was simply 10 enable those
who hold its stock 10 continue their respective
interests in association together and to pre-
vent such interests from being scattered by
death or otherwise: to provide against such
attacks as had been made upon the Northern
Pacific by a rival and competing interest
whose main investment hundreds Of
miles from the Northwest and whose
only object ia buying control OF the
Northern Pacific was to benefit their southern
country between Lake Superior and Puget
Sound, and by turning away from the Northern
lines the
Enormous Oriental Traffic
which must follow the placing on the Pacific
ocean OF the largest ships In the world.
The foregoing is a brief and absolutely cor
rect statement OF the whole SubjecS and its
truth can easily be verified by the State of
Minnesota or any other state or person having
sufficient interest to Investigate the facts
which are all matters OF record.
Now as 20 the effect Of what has been done
upon the public interests Of the country, let me
ask few question which l want every candid
and honest man to answer for himself:
Did the Union Pacific people with their rail-
way lines extending from omaha and New Or
leans 20 California and oregon. through the
several states in the Middle West and South,
purchase a majority of the stock of the North
ern Pacific company for the purpose OF aiding
that company and Increasing the growth and
prosperity Of the Northern country, or was 1t
s,F frfS tVtur MI
aiding the development Of their enormous In
terests hundreds of miles to the south?
Did they purchase the Northern Pacific. ard
with II an equal share In the Burlington for
the purpose OF building up the Asiatic trade
between The northern zone, lying between st.
Paul and Minneapolis and the Pacific coast.
or to ....
Prevent Such Building Up
and control the Oriental trade for their own
railway lines through their own seaports ana
over their ownships2
In defeating their control OF the Northern Pa
cihc and Burlington and retaining II in the
hands Of those who had built It up and with
IL the entire Northwest, did we injurs or bene-
AZ the people Of this Northwest?
Did J. by inducing my friends to hold their
Northern Pacific common stock and act jointly
with Messrs. Morgan a. Co, when this stock
selling at $500 and 81 900 a share and thus
prevent the Union Pacific from controlling the
Northwest, injure or benefit every interest. ag-
ricultural, business and otherwise Of the entire
country between Lake Superior and the Pacific
coast?
Had we sold our $50 oOO, 900 Of Northern Pa
cihc, even at $500 a share, amounting to SEQ
900 600. or $40, 0OO.O 600 more than its present
value and transferred 70 the Union Pacific
control the entire country between Canada and
Mexico, what law OF Minnesota would We have
vtolatedT Could We not have legally nut the
money In our pockets and let the country learn
what II was TO be dominated by a parallel and
competing railroad?
why did Gov Van SAINT sit still from MAY
until Noveuher while a majority OF the stock
OF the Northern Pacific company was con-
trolled by parallel and competing railroad
company, 10 which the law is clearly opposed
and wait until myself and friends have by our
efforts and with our own money
Relieved the Northwest,
not as rival parallel or competing railroad
but doing what we clearly have the right TO
do as individuals or working together for
greater permanency and security as a financial
corporation?
Has there ever been case in the history of
this country when men have dropped their
money profit and stood firmly by the INTEREST,"
OF the communities which had grown up with
capital?
The public is interested in having good
railway service and at fair and reasonable
rates. The past is gone and speaks for itself
l can speak for the future. and I have no
hesitation whatever In saying that the in
creased volume OF traffic, both through and
local. will enable the companies to reduce their
rates In proportion 70 the volume OF such
traffic. and that in the near future the public
VIII have a chance to see for itself this feature
OF what have said. The development OF tho
country will increase with greater increase IN
population between Minnesota and the Pacific.
No merger or consolidation OF the Northern
Pacific and Great Northern is contemplated.
Each company VIII be operated separately in
the future as in the past
greatly dislike 10 discuss my business in
the newspapers, but during my absence an at
tack has been made upon myself and friends
which has been persistently supported by both
political and rival interests. All ask is fair
play. and let time determine whether the pub
lie will be benefited or injured by what we
have done ana will continue to do.