New-York tribune., 1905-01-31
H4RRIMAN PARTY WINS.
q. S. Supreme Court to ReUiesc
Northern Securities Case.

Washington. Jan. 30-The Supreme Court OF
the United States to-day granted the petition
for a writ Of certiorari IN the of e. H.
Hartman and others against the Northern Sc
curities Company growing out Of the former
decision Of the court relative to the distribution
Of the stock OF the securities company. The
effect Of granting the writ is to bring the case
to the Supreme Court for review. The argu-
ment was set for February 20, after other cases
on the call for that day.
The suit was brought to determine the right
Of possession of certain shares Of the capital
stock Of the securities company delivered to
that company by Hartman and others In
1901, when the merger Of the Northern Pa
cifc and the Great Northern railroads,
consummated. After the government suit
was decided against the merger the securi-
ties company decided to distribute the stock Of
the two railroad companies among the stock
holders proporuonally, instead of giving each
one the stock originally deposited by him,
Mr.. Hartman asserts should have been done.
Hartman and his associates represented the
Northern Pacific stockholders, and they repre-
sent So. 2.491,S71 par value. The present case
was brought into the Circuit Court for the Dis
trict Of New-Jersey, which granted an in1unc-
ton against the securities company, prohibit
ing the disposal Of the Northern Pacific stock.
The Circuit Court Of Appeals for the Third Cir
cult Court reversed that decision and its decision
would have been final but for the decision
reached to-day to review the case.
Prominent interests identified with the Northern
Securities controversy were not inclined yesterday
afternoon TO make any extended comment upon
the action Of the United States Supreme Court
Some Of the Union Pacific interests thought that it
might be long q year before the Supreme
Court would hand down its decision following the
argument set for February 90 James J. HILL
president of the Northern Securities Company
holds the opposite view. He said:
Il do not believe there viii be much delay by
the courts after arguments have been made Per-
sonalIy have no doubt the outcome"
a member of the Hartman party made this
statements
The effect of the granting Of our prayer for
q writ oertiorari is stay all action under the
decrees of the court below. In other words, as
lawyers technically term 1t, the writ Of ceruorari
operates a supersedeas-that is say, it super
sedes the opinion Of the court below and the
That court may render a decision which will dis
for trial the merits that witnesses may
be ana the the 6sSs mas have 9een NOT bad
the opportunity to examine orally ana cross-exI
anime witnesses and 10 produce the books and
As the gossip in brokers' offices on Saturday
nIicatiou for a writ OF certiorari, yesterday
Gsan gwod "s be n favor Of the petitioners the
Hartman Union Pacific party. There was heard
the court but nobody seriously credited this rumor
tsf tf The appIicaton would be granted was With
out much doubt, a realization OF the fact that 1t
Court not to grant it, the subject OF the litigation
DeIg NIg+bsrn % Securities on the curb at about the
opening touched I55. new high record price. but
oI1 vigorous selling declined points in the first
ten minutes and before noon had reached 147lA.
raI1ving 10 around 149 by noOn when the court
decfsion was announced Then IT sank again 10
I4s but closed at l4924. about points lower than
on Saturday. ,,,a 49,, -,
on the Stock Exchange Union Pacific which had
closed AT l2k the preceding business day. opened
wide with sales OF 1900 shares at from l22R TO
123 BY noon II had gradually declined 70 Ia. but
.rf<-n the news from Washington came the stock
soSl down lls&. rallying. however by yot the end
~ The hour 12, and going as high at lz532 near
The end Of the dav. The dealings in Union Pacific
eggregated more tnan 415 900 shares The close was
related TO those involved in the Northern Securi-
ties matter had similar ups and downs chicago
sp5 Northwestern which according 10 current
wall Street report is being bought by the Union Union
T5acic party advanced from 23 TO 24S and decIined
10 2slX IN the first hour and at noon STOOD at 30
n closed ~ points up from Seturoay az @335A:
Grest Northern on sales OF 200 shares in the last
hour lost 4 points Kansas City southern pre-.
ferred touched S. and closed at 62S+ a net gain OF
S7z points
TLREE yyEEK6i RECESS.