New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-07-16
IN FAVOR OF HARTMAN.
Continued from first page.

Northern Pacific Railway Company which they
PUT into the conbina ton II the pro rata dis
trioution were not be enjoined and Messrs.
Hartman and Pierce should win on the final
hearing. the particular stock which they are
suing 70 recover would already have been dis
triDuted and their victory would be a barren
one.
James J. Hill. president OF the Northern Sc
curtties Company. said yesterday afternoon that
II had not yet been decided what action would
be taken by the company. The merits of the
case he added. had not been touched in
Judge Bradford's opinion granting the pre-
Huinary injunction. At the Office of J. P. Nor
gan s: Co. no comment on the case could be
obtained Francis Lynde Stetson, of counsel
fer the Northern Securities Company was not
al his office. William D. Guthrie. who made
the principal argument for the colnplatnants IL
IN Europe. as Is z. H. Hartman. At the Of
fee Of Kuhn. Loeb & Co. who are closely iden-
tilted with the Hartman interests. it was said
that no statement could be made until after the
text of Judge Bradford's decision should have
been received and digested. Another Union
Pacific interest said.
We are, OF course. glad 10 have our contention
o a We think moreover, that decision in
decision against US II for no other reason than
because II means a protracted litigation which
cradle 70 decision which would admit Of action by
very well be undone.
One OF the consequences of the decision lust
handed down will be that the 1903 annual meet
ing Of the Northern Pacific. which has so often
been postponed. the last time until next Thurs
day, must be further deferred until the North
ern Pacific stock held by the Northern Securities
Company shall be released in one way or an
other. which may be many months hence.
on the eve OF the special meeting of stock
holders Of the Northern Securities Company on
April p. al which meeting the plan of the di-
rectors for pro rata distribution of the Northern
Pacific and Great Northern stocks held by the
Northern Securities Company was approved It
may be remembered. Judge Kirkpatrick on the
application OF counsel for Messrs Hartman and
Pierce granted a rule to show cause why an
Injunction should not issue restraining the
Northern Securities Company from parting with
or distributing the Northern Pacific stock which
according 70 the allegation Of Messrs Hartman
& Pierce was deposited by them on the forrna-
ton OF the Northern Securities Company. The
order also directed the latter company 10 refrain
from carrying out its proposed plan OF distribu-
ton until after the nearing Of the argument on
the rule 10 show cause. Judge kirkpatrick died
OF the United States District Court for the Dis
trict OF Delaware. 10 whom the case had been
transferred. heard argument In Newark on the
return OF the rule 10 show cause His opinion
handed down yesterday. continues the tempo
rary Injunction granted by Judge Kirkpatrick as
an Injunction pendente lite, 10 remain in force
until the merits Of the application in opposition
70 the carrying out OF the plan Of pro rata dis
tributon shall be passed on by the United
States courts. a final determination which may
involve p7otracted litigation.
COMMENT OF ". n. BYRNE
William Michael Byrne. formerly Of Delaware
now an Assistant United States District Attor-
ney here. said yesterday concerning Judge
Bradfords decision.
Nj t5gthrte.s victory IN the Northern Securities
case VIII have far reaching results Mr.. Cochran.
reading foT the Democrats in brilliant speech =
INC House. declared that the total O the ad-
nlnlsfraNor against the Northern Securities
was 10 eliminate Hartman and iutren~h the Hill
Morgan group 81 the control n the transportation
systems involved I'm that controversy ht IN. dec!-
sion OF Judge Bradford shows that the Presidents
policy against uega! combinations IN restraint OF
trade viii be carried It's Uitlanat. limit by the
fearless men who preside over courts