New-York tribune., 1903-04-11
HOPE TO WIN FINALLY.
OPINION OF j. J. HILL.
Thinks Supreme Court Viii Decide
Diferently-VieTcs of Others.

The decision of the United States Circuit
Court OF Appeals for the Eighth Circuit in the
Northern Securities case was variously re-
ceived by those most deeply interested yester-
day. Not for a long time has court decision
thoroughly stirred UP the financial and in
dustrial world AL sorts of comment and criti-
cisrn were to be heard in the financial district
end places where the men who direct the af-
fairs Of great corporations gather. The people
most directly concerned IN the case, however.
still hope 10 establish the legality Of the merger
.n the appeal
There were several conferences at the offices
OF J. P. Morgan & Co yesterday at which the
situation was discussed. James J. Hill. presi-
Dent OF the Northern Securities Company. was
there several times in the course of the day
aIr. Hill said later: The matter OF appeal is
now in the hands Of our counsel and il will
be taken as soon as the decree is fled. don't
care TO criticise the decision. but think that
when the Supreme Court passes on il with full
presentation Of facts. IL will be seen in a diff
fe-ent light We still hopeful Of a final de-
cLsion in our favor
When asked II he had any other plan as q
substitute in the event OF the Northern Securi-
ties Company being dissolved, he replied: We
have made plans for the future except to
appeal. I can't say what course viii be taken,
but there VIII be no appointing Of trustees from
the various roads with the object OF their work
ing in harmony. Such action is not necessary
John W Griggs. counsel for the Northern Sc
curities Company. was not inclined discuss
the decision. but said: I will not comment on
the decision except 10 say il is at variance with
ny own opinions. The roads, il seems 10 me. are
held together by G community Of interest in
order 20 be profitable for their shareholders. If
the decision is 20 prevail in this case il must
also hold good in the case OF all other COM
in And
II addition il might Just as well restrain the
right Of { man 70 hold stock IN one railroad be-
cause he held some in q competing line. In
these circumstances. why couldn't a law be
PASSED stfpulating what securities a man should
Be restricted 10 buying; likewise the amount he
might purchase We shall have an appeal ready
as soon as the court files the decree
Colonel William P Clough, general counsel for
tie Northern Securities Company. said: Until
the full text Of the decision is here I VIII make
no statement. and if any is TO be made it will be
done when / have read the full decision. The
business Of the roads will go just the same
Es before"
Francis Lynde stetson. counsel for the Nor
gan interests, was asked II the decision would
affect the United States Steel Corporation.
~ viii not" he replied.
When several other questions were propourd-
e. ms reply You asked me q question;
: answered Il am not going 10 debate the
matter with YOU"
r-al i was asked If the decision would have
any effect on the New-York Central-Wes Shore
agreement Not in the slightest, was the
C-iuia- given out.
Senator Ctauncey N. Depew. when seen about
the effects af the decision, had this TO say: /
have not read the fun text yet and therefore
Cal1Ut 6iHerentia1e on its effects. Ny own
ouiriCn es lawyer and the opinion OF our legal
STAFF IS that il viii not affect the New-1 OK
Central IS the case is entirely different
Leading Ofcials of the coal carrying railroad
r7ro-e--tes said last night that. there existed
10 coal trust The decision against the Securl-
rjes merger would have no effect on their COM
p2n.es-