The citizen-Republican. (Scotland, Bon Homme County, S.D.) 1???-19??, 1904-04-21

torney general of the United States ia
declare the merger an outlaw, Rookie
Teller interests aided the government in
every way with legal advice and evil
dence. This was done secretly, OF
course.
Rockefeliers Begin Bear Raid.
Believing they would win the fight in
the supreme court Of the United States,
the Rockefellers began the greatest
bear raid on the stock exchange values
h a the world has ever seen. the ulti-
mate object OF 1t being to force out
Ntrtfern Securities stock in a long
panic. This stock was snatched up as
tast as 1t came out, and the Rockefel-
lers believe they have enough of it SO
that when it Is resolved back into its
orlglnal elements of Northern Pacific
and Great Northern stock it will leave
them in ~undisputed control of the
Northern Pacific.
The Burlington roa is also in the
balance. 1t Is held through bonds
guaranteed jointly by the Northern
Pacific and Great Northern. Default
by either of these companies in pay
ment Of it's share OF the interest of these
bonds throws the road into permanent
control of the company which pays.
lhus Hill and Morgan, IL they won In
reducing Rockefeller to a minority in
OoN'' might tel ESOElNeTH FaClIlC
DEFAULT and thus capture Burlington
absolutely for the Great Northern.
Cause of The Panic in 1901.
II was because Morgan refused to let
Union Pacific share in the purchase Of
burlington that Rockefeller ordered the
capture of Northern Pacific in 1901,
thus causing the panic and the merger.
For each 500 Of Northern Pacific
stock that was taken into the merger
dIIpt the manic 4 ytn1- IN Ma 1 Ell I =
or Northern Securities stock was issued.
For each 500 Of the Great Northern
there was issued $3.50 of Northern Sc
curities.
Morgan and Fill want to cancel all
Northern Securities stock, returning
Doth Northern Pacific and Great North
ern In those propositions for each share.
rockefeller insists that none of his
friends want any great Northern stock.
he wants each share OF Northern Sc
cur1ties stock traced back to its original
elements.
Hartman, acting for all the rookie
teller interests, held when the merger
was formed s37,023,0o0 Northern Pa
ci1c common stock and SAL, 0S5,0O0 pre-
TERED. Morgan-HiH interests had S42,-
uO0,0O0 cornmon stock. The balance OF
the $S2,000,0 600 of Common stock was SO
widely scattered that even the panic
price of $1,000 a share on May 9, 1901.
failed to bring it out. Much of this was
later obtained by Rockefeller. Some
was converted into Northern Securities
shares. BY retirement If the Northern
Pacific preferred n sale of new COM
mon the Rockefeller was left with s82,-
491,O00 of the Northern Securities stock.
RockefelIers in the Minority.
This, converted according to the Nor
gan-Hil plan, would return to Harri-
only s34.794,000 Northern Pacific
Common out OF a total Of $155, 900, 600.
1t would give them also S24, S87, 900
OF the Great Northern stock, which
they do not want. 1t would leave the
Rockefellers in a hopeless minority in
both the great properties for which they
kept the stock market in contin-
ual panic since May, 1901. If the Har-
riman contention prevails the $S2,491,-
OU0 Northern Securities will yield $71,-
$4,000 Northern Pacific.
That the legal fight will be a long
one is shown in j. p. Morgan's plan
sail for Europe this week. He would
not dare cross the ocean with a big
fight about to be begun in the stock
4 rg