Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1904-03-16
RESPECT DECREE.
HiII-Morgan Interests to Aban-
don Securities Company.
Claimed That the Roads Will Not
Be Affected.
independence Of Their Operation Not
Been Disturbed.

New York, Marcn ID Inc flIiI-ti'l
gan interests and the other large hoic-
ers of the Northern Securities 60. will
respect the supreme courts decision
in letter and spirit says the Journal
OF Commerce. III quoting man said
to be one Of the strongest and best in
formed Northern Securities stockhold-
ers in this city.
THE Securities 90. will as soon as
practicable be abandoned" continued
the statement, land the securities OF
the Great Northern and Northern Pa
cific companies will be exchanged back
for the securities originally deposited.
Plans for the distribution Of the Sc
curities We're completed sometime ago
in anticipation Of AN adverse decision.
The effect of the decision so far as the
roads In questionable Northern Pa
cifc, the Great Northern and tn" Bur
lngton-arc concerned, will not be inn
portant, as their absolute indcpcnd-
ence of operation has not been dis
turbed. The decision will merely mean
the restoration Of a community of OWE
ership IN the place of the more formal
and more permanent form Of corporate
ownership
1.-The result of the decision will be
merely the restoration OF the commu-
nifty of ownership in the place of the
more radical plan for physical CONSOLE
dalton. 1t will take time to unravel
the affair. but probably not as long al
at the outset may seem necessary"
New York. March 15.-Presdcnt Hill
and other officials of the Northern Sc
curities Go. were in conference, today,
hpf darlincd IN mako Ct1fpmpl-
for publication. Vice President and
General Counsel Clough had Il long
talk with Mr.. Hill and Daniel S. La
mont. vice president of the Northern
Pacific Railway. was another early Wis
itor. Col. Clough returned from WISH
ington, today. Contrary to eXpcCta
tons, he said h" had not brought back
with him an official copy of the deci-
sion in the securities case.
1.-THE official copies are not yet pub
lie property" he said. 80 far we
know little beyond what the newspa-
pers have told U.S.
Col Clough refused to discuss the
conditions produced by yesterdays de-
Cision and would give no hint as tn
the securities company's next move.
He was closetcd with President Hill for
upwards of two hours.
Northern Securities stock was strong
on the curb. today. selling up to S14
soon after the opening.
Practically all of the Northern Pacl-
tic stock is owned by the Northern Sc
curities Co.. which has been cnjoincd
from voting this stock, hence the re-
peated adjournmcnts.
In regard to the report that the
Northern Securities GO. of canada was
to be the successor of the Northern
Securities Co of the United States,
President Hill WAS quoted. today, as
saying: I'VE has rs much notion Of
Incorporating Il company in Mars or the
moon as IN Canada. We intend to con-
form to the law
Montreal. March 15.-Rudolrh For
get. vice president of the Montreal
Light. Heat d Power CO.. today, de-
MED that he is responsible for the
statement that the Northern Securities
OF Canada. which was granted Il char
ter by the Dominion Parliament IL year
or so ago. is backed by the Hill inter-
csts and is intended to replace the
Northern Securities Co. of the United
States. He merely recalled the fact
that such a charter had been obtained
in Ottawa. He does not think the two
companies have any connection what
ever.
Ottawa. Ont, March 1.-The North
ern Securities Co. was granted Il char
ter by the Dominion government soon
after the original suit was brought
against the American corporation in
Minnesota. TIL" directors named in
the bill of Incorporation were canadi-
an. but it WIS understood at the time
that James ]. Hill was interested. The
charter is still in eXistance, although
no step has been taken to operate UNI
der it in Canada. Whether it will 10
revived in view of the recent decision
OF the supreme court Of the United
states cannot he learned here. that
matter resting entirely with Mr. HILL