The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-05-18
HILL.HARRIMAN
TRUCE SETTLED
TWO GREAT LEADERS AFRAID TO
: FIGHT EACH OTHER.
Both Are Masterful and Impetuous-
Meanwhile the Canadian Pacific, Thru
the 500 Line, Holds the Balance of
Power in the Northwest. ...
Special to The Journal.

Special to The Journal. 49,.
New York, May 1S.-At the present
moment it appears that the most vital
differences between the Hill and Harri-
man interests have been compromised.
So far as the Kuhn-Loeb & Co. faction
of the Hartman party is concerned,
there are no longer any differences to be
settled.
Kuhn, Loeb & Co. have Joined with J.
P. Morgan & Co. in the underwriting of
the $10O,OOO,0OO Pennsylvania 31A per
cent bonds, fact significant that these
two firms have decided to bury the
Ratchet. The long-standing difference,
growing out of the part played by Kuhn.
Loeb & Co. in the buying Of Northern
Pacific has been closed. The attitude
of the KuhnLoeb firm during the past
two months with regard to the policy
of E. H. Hartman has been the factor
that made for peace. Mr.. Morgan and
Jacob Schiff, head of the Kuhn-Loeb
firm, have been thoroly at one in their
desire to curb the hitherto unbridled
ambition of Mr.. Hartman.
| 1t is also announced that the differ
ences within the Hartman party are
over. They arose over the question OF
letting Union Pacific common stock ad-
vance to point where the convertible
bonds would come in and be converted
into stock.
The advice of the Stillman-Rock
| Teller party was finally Endorsed by
Jacob Schiff, and Mr.. Hartman gave
in to the consolidation of interests that
stood against him. In return, the prox-
les of all parties to the dispute were
turned over to f. H. Hartman to be
voted at the special meeting at Salt
Lake City in favor of the issue OF
/ 800, 100000 preferred stock of Union
| Pacific.
4 Hill Is Less Resentful.
With regard to the attitude of Mr.
Hill, there are divergent stories. One
is that he and Mr.. Hartman have en-
tirely made up their differences. This
is not altogether true. Mr.. Hill is get
ting over his resentment with regard
to the Northern Securities episode. Tie
with Mr. Hartman or his friends to put
himself in the least in their power. lie
does not intend to recede from his com
handing position in the northwest anC
fears that Mr. Hartman and his rail
roads will not at all times act IN gooc
faith in traffic matters.
One of Mr.. Hill s railroad. associates
! has this to say: owe are all feeling
much better than we did month ago
Hill or Hartman man quite easy II
his mind. Both are strong men, ans
quite honest in their intentions will
regard to their properties and their as
sociates. The difficulty has been tina
both the leaders are impetuous:, hard I,
hold in check, and apt to Go things ootl
dangerous and radical.
Must Watch the 500.
eff Hill and Hartman could b
,. gotten together entirely, it would g
! far toward clearing the entire situatio1
in the west. I don't think they, VII
ever be entirely at one. Mr.. Hill be
lieves he holds in the Great Northern
the KEY to the traffic situation be
| tween Chicago and the Pacific. M
Hartman thinks that the Union Pacifi
with it's two eastern connections, an
its double western line, is the strongee
| Of the two systems. Neither is will
ing to bring the matter to the test o
a. traffic war. Both are afraid, tn
both believe they would win. Tn
Canadian Pacific really holds the ba
ance of power. The Union Pacific an
] the Great Northern handle much NOR
it's auxiliary, the 500 Line, must
] watched. The 500 Line. was at on
| time a great disturber of rates. |
| those DAYS it made things decided
| uncomfortable for both the Gre;
Northern and the Union Pacific. FL
| the past few years 1t has malntalne
| the tariffs, and neither of the big tran
| continentals could do anything but To-
| money by inviting it again to get I'M
rate-cutting war. There are t.
many small free lances between Mi
neapolis and Chicago that would
= very willing to feed the 500 Line
\ reduced rates. But the situation; W
b not arise, particularly as MIR. I'LL
~ Just now cultivating a more friend
~ feeling with the Canadian Pacltic.'
81 Retiring Burlington Bonds.
& The recent sharp advance in Il
sas Hill stocks may be based upon the fe'
81 ing of confidence referred to by til
81 speaker. There was sent out Ia
sA week a preliminary, unofficial outli
"a of plan to call in the Burlingt
s stockholders Of both Great Northe
# and Northern Pacific. This is undt
"a stood to be one phase of the Hill pla
ST for his stockholders. Neither it n
al the other plan which Mr.. Hill has
"a his sleeve with respect to Mesaba 9
SM lands will come out until the Harrim
s# stock in Northern Securities is settle
fM It has not yet been exchanged for
M pro rata of Great Northern and Mort
s err Pacific, but will shortly be so {
@a changed When this is done the
SIS may be some announcement with J.:
g gard to some Of the plans that ha
m put the Hill stocks to record prices
gu very light trading.