Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1905-04-26
WHY HARTMAN WILL NOT FIGHT

Rivals In No Position to War With
Hill.
New York, April 26.--As j. j. Hill
swung down Liberty street the other
day on his way from the ferry to his
office, he was greeted by the cries of
the newsboys calling extras of the eve
ming papers containing fearful and
wonderful accounts of the alleged
great fight which was crumbling
the prices of Northern Securities, I'm
I ion Pacific and allied stocks.
What do you think Of 1t, Mr..
Hill?" he was asked.
IF you want to believe that kind
of rot" said Mr.. Hill, no one is going
to stop you. 1t is not even respectable
fiction"
Later in the day, when definite de-
tails of the fight" We're shown him,
covering the alleged plans of e. FL :.
Hartman to build thru line to the
cosat between the Great Northern and
Northern Pacific, Mr.. Hill smiled
grimly.
ut looks interesting. but it would
be too expensive was all that he
would say.
The exact way in which it would be
too expensive is the subject matter OF
the following remarks, from one of the
closest associates of j. j. Hill and one
Of the men whose names appear in the
list Of large holders of Northern Secu-
rites stock, recently published:
IF war of that kind broke out the
Milwaukee and the Northwestern
would be up against it in three years
and the Union Pacific would be itself
on the verge, carrying two or perhaps
three, bankrupt railroads on its books,
as assets. Therefore war is not going
to break out The reason is that old
man Hill has got the railroads of the
great northwest by the tail and they
know it.
"The Great Northern was built
across the continent on the lowest pos
sible grades and at the lowest possible
cost. 1t was built on the stock, not
on bonds. The others were built on
bonds and the stocks were the rake
off. That is the reason that the Great
Northern could cut dts annual net
earnings to $5,0O0,O0O and still be SOL
vent. If you cut down the freight earn
ings of the Union Pacific 40 per cent
that is enough to meet the cut possible
on the Great Northern without causing
Hill to default-Union Pacific would
not earn its charges by over 100000
year With a similar reduction the
Milwaukee and the Northwestern
would run s5,OO0,OO0 behind fixed
charges every year.
Hill Holds the Key.
GEic,,ro VIZ, n1aa GO ~, tho 1nOnpd-
less credit and power of the Union Pa
J. j. Hill has in his hands the key to
the northwestern railroad situation.
Mr.. Hartman may rave in his disap-
pointment over his defeat in the inva-
sion Of Hill territory. 1 do not be-
lieve that either Mr.. Hartman or the
bankers who have stood behind him,
and to whom he owes so much of his
power, will dare to lift hand to pre-
cipitate again the state of affairs that
landed the Union Pacific in the re-
Ownership Of 1898.
"There is not going to be war in
the northwest. There is going to be
peace-and the kind Of peace that j.
j. Hill.and j. P. Morgan say that there
will be. A month from now it will
be known across this continent that
there is peace. These alleged fights
arise out of market conditions. After
it is all over there will probably be
Encouragement of the situation up
north. but it will take form not
looked for anywhere. It will be a split
in one party-not a split between two
parties. Also-it won't hurt Hill.
When IT is all over YOU will note that
old man Hill is still the biggest rail-
road man west Of the Mississippi river,
if not west of the Atlantic"