The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1904-10-25
NO COMPROMISE IN MERGER.

NJ OOMftOMlSE IN MERGER.
Definite Statement From Hill Faction
That Law Will Take Its Course.
There have recently been numerous
reports that negotiations are in prog
ress looking to a Hill-Harriman COM
promise over the method of distribut-
ing the shares of the component COM
pan1eS of the Northern Securities COM
pany. The matter is now awaiting
court decision. In response to a re-
quest for information regarding what
ever foundation may exist for these re-
ports, the following significant state
ment was obtained by a representative
of this journal last evening, says a New
York paper. The statement may be
accepted as representing the Hill side
of the controversy: There are no ne
gOtiations on foot of a formal or in
NAL character for a settlement of the
Northern Securities company'S diStri-
button of it's assets on any other basis
than contemplated by the plan adopt
, ed by the company itself. There are
no negotiations, either formal or in
formal, to withdraw the matter from
the court. The court will decide the
case and we have no doubt regarding
the fairness of the court and are quite
willing to let the law take it's course.
Not only are there no negotiations on
foot seeking to compromise the matter
to the satisfaction of the contending
tiations. There has, it is true, been a
little shying probably by both sides, as
each is unQuestionably DESTROYS of pre-
venting any damage to the properties
in which they are mutually interested;
but this shying has at no time reached
the dignity even of informal negotia-
lions and we do not think it ever will
reach that dignity.
$50 far as the reports connecting the
requirement of the St Paul road as a
part of the alleged compromise, that is
something upon which I have absO-
lutely no information, but, speaking
personally, I do not believe there is
anything in it. We all know, however,
that before the Burlington road was
purchased it was the original intention
to buy up the ST. Paul. But such ac-
ton was at the time found to be i'm
practicable, and was abandoned, and
negotiations were imm ediately opened
with the Burlington. 1 do not believe
there is any more truth in the report
that the Union Pacific interests are
about to purchase the st. Paul than
they are about to purchase the Great
Northern or even the Canadian Pacific.
If we were to be gullible enough to be-
lieve all the reports circulated by the
Street about the Union Pacific people
we would have to prepare ourselves
to expect their final control of all the
trunk lines and transcontinental lines
throughout the country. I think the
Northern Securities decision of the
all such changes in railroad control
formal changes at least-and do not
think we need concern ourselves dur
ing the next few years about reports
of purchases of such large systems as
the st. Paul by means of bond issues
of competing roads. That day has
gone by
The report of compromise stated
that a new plan for settling the North
ern Securities company contentious
10, Il IN he n In YAf-
able. 1t proposed that the Union Pa
cific railroad should take control of
the St. Paul by collateral trust per
cent bond, giving two for one, as was
the case of the Burlington & Quincy
1t also proposed that the Hartman
Rockefeller interests allow the liquida-
ton of the Northern Securities COM
pany to be carried out according to the
plan of the directors, and that the
Union Pacific, through the Oregon
Short Line, be compensated for any
possible loss in equitable value by ma
teria1 advantages ''in other ways"