The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-12-14
]. ]. HILL WILL
STILL CONTROL
Continued from First Page.

= rV.-ts. - s-s l., f4r+sis "a.
Company was formed, and would
throw back into the hands of the Ore
gon Short Line the huge block Of
Northern Pacific stock that was de-
posted to- secure the $50 100000 odd
of Northern Securities stock that is
now in the vaults of the Equitable
Trust company, securing the 4 per
cent participating bonds of the Oregon
Short Line. 1t would practically put
the Northern Pacific in the very hands
that, of, all others, Mr.. Hill and his
immediate associates would be least
likely to choose as a desirable rest
Eing-place for those stocks. That is,
in the hands of E. H. Hartman, who
controls the Union Pacific, and would
like very much to get a practical con-
troll over a route to the north Pacific
ports.
The Northern Securities treasury at
present contains about 99sper cent of
the stock of the Northern Pacific and
about rs per cent of the stock of the
Great Northern. To re-eXchange rs
per cent of the stock of the Great
Northern would put the Northern Sc
curities in the position of owning a
control of the Northern Pacific and
less than a control of the Great North
ern. If the. arguments OF: Messrs.
Bum and Griggs- are correct, this
Pennsylvania in Same Case.
If it would not say the lawyers of
Northern Securities, what becomes of
the Pennsylvania company? This cor
poration-strictly holding company
holds control of Pennsylvania rail
road and 43 per cent of Baltimore &
Ohio. Baltimore & Ohio completes
with Pennsylvania at every important
traffic center between the head OF
Lake Erie and the Atlantic coast, not
ably at Pittsburg. The supreme court
and shows no sign of a belief that the
corporation is illegal. Control of
| Chesapeake & Ohio by Pennsylvania
! and New York Central, thru Lake
| Shore, is similar, as is also control of
Reading by Lake Shore and Baltimore
| & Ohio. ) .= - r
1t u.s. of course, possible that the
government of the United States will
| bring positive evidence to show that
| the operation of the Northern Securi-
| ties company has restrained trade in
| the" northWcCt- In the former trial
! no attempt whatever was made by the
attorneys for the prosecution to prove
this fact. =.
= If such evidence is brought the COM
pany will have to pay the penalties
Eprovided by the law : r.. .~
8" H., Short Selling Dangerous.
| The effect of these considerations il
| the offices of Wall street where they
are known. and understood is growing
On the curb Northern Securities has
been steadily accumulated by two
/ brokers, one supposed to be acting fol
! Morgan and Hill and j. the other fol-
/ Hartman. There isInot believed to be
more than per cent of the stock
1.aioat at the present time. The two
buying contingents DO not bid agains
| one another at all, and appear to be
| acting in concert. In any event it may
be taken for granted that stock gamb
lers who sell the stocks on any report.
during the trial or even on an adverse
decision are extremely likely to ge
into trouble with their contracts.
is very seldom, that stock has looked
more dangerous as adshort sale thar
does Northern Securities at the pres
ent moment. .'i'l .T'FG} ia E.".s