The Montgomery advertiser., 1904-03-23

in it's treasury after the foreign dIstri- button Is made will consist of stocks and other property in no way involved in the suit, producing income and conservative ly valued at an amount in excess of ss,s5i,0oo. to which 1t Is proposed to re- duce the stock of the company"
 The new plan was formally adopted at Q meeting of the directors which began in the morning and lasted until we'll into the afternoon. There were present Pres ident Hill, George F. Baker, Wm. F. Clough, Edward H. Hartman and D.. W James, Daniel s. Lamont John g. Kennedy. George W. Perkins. N. Terhunc and one or more other directors. Through out the day when N orthern Securities shares were booming on the curb and its affiliated stocks and l'on the curb and its afiiliated stncks and | the Pacifs. chiefly Union Pacific. were Stock Exchange, the air was full of rum ors. some of them of an alarming char acter.
 | Dealings in Union Pacific common az gregated over 70 per cent. of the total outstanding issue. It was declared in va- rious quarters that the Hill-Morgan par | ty had for some reason deemed 1t neces- | sary to buy heavily into this stock. The | belief in this rumor I;.5 heightened by the fact that brokers who often repre- | sent Morgan interests on the exchange were heavy buyers of Union Pacific all the way I'D.
 l Large amounts of Southern Pacific shares also changed hands and safes of Great Northern preferred, which the floating supply Is very small. amounted to 1000 shares. In the bond division Ore gon Short Line fours. Union Pacific con- vertible fours and Burlington fours were in demand at substantial advances. | After the close of the market long conference was held at the ofElce of J. F. Morgan & Company. Those who at- tended included Messrs, Morgan: Harri- man, Hill, Lamont, Perkins, J. F. Mor- gan, Jr., Francis Lynd Stetson. of coun- sel to J. P. Morgan & Co.,. and ex-Judge Bum, of Minnesota, Mir. Hills personal | legal avdiser.
 Messrs Hill anu Hartman left the Morgan banking house arm in arm, and l apparently in the best of spirits. Both declined to make any statement beyond saying that a perfect understanding had been reached all around. Mir. Hill denied that there had been any differences res pecting the dissolution plan. Mir. Morgan and his partners had no comment tc make, but MT. Morgan seemed pleased with the days events.
 At the banking house of Kuhn, Loeb 6 Company, the chief financial packers oi the Hartman system of railroads. nc statement of any sort was forthcoming
 A report that the firm had, as the liar. riman representatives received a substan. tial cash bonus for agreeing to the distri-
 button plan could not be verified. The street heard that the Hill- Morgan inter ests would be given representation in ths
 Union Pacific road in return for which
 Union Pacific interests would be asked tC
 take place in the Northern Pacific direc. tory. Sales of Union facinc common az
 gregated over 10000 shares at net ad
 vance of Sh points. Southern Paciflc
 was traded in to the extent of over 161,
 600 shares, gaining net 2& points. Tht
 advance in the 1000 shares of Greai
 Northern preferred was 7h points. Al
 the Pacifics, in fact the general market
 was higher with the boom in the North
 ern Securities stock.
 On the curb Northern Securities mad
 gain of six points on sales of about 9,
 900 shares. The stock touched s7h, an
 closed at 9S1h
 Fire in Pelham, Ga.
 Macon, Ga.. March 2z.-At Pelham to
 night fire totally destroyed the oil mil and guano factory and thousands of gal
 Ions of oil in tanks. Several cars 0 } freight were burned. Loss H5.OOO.