Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1903-03-28

J Plerpont Morgan and James j. Hill
didn't have TO make any inquiry, They
had been paying millions to lind out,
and they knew
They Worethe men who pushed the
price up 10 81 900 a share And even az
that they retained control OF the North
ern Pacific only by a scratch.
The wicked Mr. Hartman had gone
into the market when Mr. Morgan and
Mr. Hill We're not looking and when
Mr.. Hartman came out he had abso-
lutte possession of a majority Of the Is
sued stock. He had so much that Mr..
Morgan and Mr. Hin got busy at once
10 prevent him from making another
raid and getting the few shares he
needed TO control the road,
The Hartmann uhn-Loeb syndicate
owned controlling interest in the
Union Pacific on May 10 the Morgan
Hill crowd, through Senator william
A. Clark, were large purchasers OF
Union Pacific stock. II was their coup
in Burlington that had set the Harri-
man interest into self-protection
warfare in connection with Northern
Pacific.
Mr. Hill arsl Mr., Morgan, when the
Northern Pacific came out OF the re-
ceiyers hands in 1896 made their com
binati0n. Boston parties owned the
Burlington. They were induced to
come into the Morgan-Hlll camp just
before the May day when the sky be-
came so cloudy in Wall street
The purchase by Senator Clark Of
Union Pacific stock was a great sur
prise to the Hartman interest Sena-
tor Clark has 30 much money II Is hard
for him to find places to spend It with
any likelihood of return The first
thing that Mr., Hartman knew there
was talk in Wall street that MIR. Nor
gan and Mr., HUI were preparing 10 ef-
feet a merger Of the Northern Pacific.
Great Northern and Burlington in such
form that II would be impossible for
anyone to go into Wall stree and Wrcst
the control Of the roads from them, for
a trustee would exercise IT, Mr. llarri-
man began to think discretion Of yalor
the better part
There We're rumors that Mr.. Harri-
man was willing to arbitrate On Nov.
&C., 1901, the Northern Securities conf
pany was incorporated at Camden, N.
j., with a capital stock Of $500 100000.
The par value Of shares was 500, with
$3OO,OOO.0OO issued.
This company was chartered ito ac-
qulre the stocks and securities Of rail-
ways and other corporations 1t was
organized in pursuance OF plans TO
bring urder one ownership the stocks
Of the Great Northern and the North
ern Pacific which companies had ac-
quired JOINT ownership Of the Chicago,
Burlington & quincy Railroad COM
pany.
About the first thing that happened
after the Northern Securities company
was chartered happened In New York,
Dec. 81. Wall street heard for the first
time the name Of Peter Power,
WHO In thunder Is Power" one
broker asked Of another
Blamed II | know, the other broker
replied, probably he is one Of those
new western millionaires come east TO
show old man Morgan how they do
things In the Rockies
There was mystery all over New
York. The papers breathed mystery
The telegraph wire was kept hot be-
tween Gotham and st. Paul where his
name first appeared No one in ST.
Paul knew any more about the person.
mel Of Peter Power than was known
I'm Wall street.
The newspa pers said he was a mil
lionairc and expert fancier. a dangerous
foe to Hill and Morgan. a man Of age
and dignitya man of tremendous nerve
ani resources. But they failed to give
his postofice address.
The thing that had made Power the
most talked OF man in the entire Unit
ed states was the fact that he had gone
into the Minnesota courts and secured