Omaha daily bee., 1903-04-14
MERGER DECISION NOTHING
Hill Declares Railroad Control will Not Be
Changed by 0Our.S
ScHFF FEARS BOLD BLAcEMAlLERs
HRrrimnn's Financial supporter Sees
Men HRrrassing Innocent COrpOr-
atiOns which May Control Pol
icy of other Companies.

NEW YORK, April 1S.-James j. Hill,
president Of the Northern Securities com
pany, said today:
We will have our appeal papers ready in
a day or two. We expect to win. But even
though the United States supreme court
pany to give back the stock to the Great
Northern and the Nor -hern Pacthc com
panies the control would still be the same.
]. P. Morgan was in conference today at
his ofice with President J. ]. Hill of the
Northern Securities company, and e. H.
Hartman of the Union Pacific and South
ern Pacific roads. The conference was re-
ported to have some bearing on the de-
cision on the Northern Securities case.
other prominent fnanciers and railroad
men who visited Mr.. Morgan in the course
Of the day included p. A. B. Widener,
Thomas F. Ryan. George F. Baker, H. B.
Hollins, President Spencer of the Southern
Railway and President Thomas Of the Le-
high Valley Mr. Hill made several visits
to Mr.. Morgan's office.
A representative of the Morgan firm
denied that there had been anything like a
formal discussion Of the financial situation
or that the Northern Securities decision
had been talked about, save in a casual
way.
opens Door to BIRckmailers.
Jacob H. schiff of the banking firm of
Kuhn, Loeb & Co., members of the Harri-
man syndicate, and a director OF the
Northern Securities company, the Baltimore
Ohio and Union Pacific railroads. in an
interview in the Evening Post on the
Northern Securities case, Eaid:
The result Of the decision, IL it be con-
firmed upon appeal must necessarily be
far,reaching. The decision practically es-
tablishes this:l That anything done which
will put IL in the power of any company to
restrain industry and trade Is Illegal, even
II the very reverse of such restraint Is in
tended, as has no doubt been the bonatide
purpose OF the corporators of the Northern
Securities company. Thus, as a logical
! consequence, the power the Pennsylvania
| possesses to influence the Baltimore &
| Ohio and other corporate managements, al
| the power the New York Central possesses
| to direct the Lake Shore. Michigan Central
and the Nickle Plate managements. or the
| New York, New Haven & Hartfords IN
! iuence over the New England road, ever
/ If such power influence actually exer'
| cised is beneficial to the public. Is illegal.
This is the danger in the situation which
1 has now been created. Not that l believe
| further but, as IL is almost anyone, fol
| the purpose of blackmail or sinister pur'
! poses, has II henceforth In his power tC
| open fire and harrass most of the largt
| railroads and industrial corporations.
With all this, do not feel particularly
pessimistic. We shall no doubt for SONS
| time find a great unwillingness to embark
! in new affairs, but that is no misfortune
| for promotion has been carried too far and
! in this respect perha rs the Northern Sc
! curities decision may prove a blessing iT
| disguise. The American people have 9
| faculty for adapting themselves to condi
! lions as they exist and in due time tn,
| effects and results of even the Situation
| now created win wear OF. and as conse
quence of the inactivity and further nquida
| ton which we are certain to have money
! will after time become plentiful and theI
| likely all sound securities will benefit by
the process of recovery, which sooner ol
! later will surely set in.
| The country at no time in history hal
| been in better and more prosperous condi
! tion than II is at present. and II Is certain
| to profit by experience, which, II is JUS
| raining in perhaps somewhat forcible
and to some unexpected manner.