New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1906-02-10
RTMOR SCARES SHORTS.
Reported Conference Booms Great
Northern and Northern Pacific.

Reports of great doings in the Hill railroa
properties caused considerable excitement in
Wall Street yesterday and made the prices of
Great Northern and Northern Pacific reach
new high records. On the strength OF rumors
% a conference between the Morgan-HAl and
Harriman-Kuhn Loeb & Co. parties at which a
treaty Of peace drawn signed sealed and
delivered. Great Northern gained nine points to
34S seven points above its previous high rec
ord and Northern Pacific gained nine and one
half points DOB, seven points above its pre-
vious high record, excepting, of course. in each
the celebrated May panic. one exaggerated
story had it that Great Northern. Northern Pa
ciic, Union Pacific and ST Paul had entered
into a hard and fast agreement, and. among
other things. the st. Paul Western extension
a more reasonable explanation, was that Mr.
Hartman had made arrangements to dispose
of all the Union Pacfc's holdings in the Hill
lines to Mr.. Hill. Still a third was that the
final point in the negotiations for the disposal
Of the Hill ore lands had been reached.
The basis OF all the excitement was that Jacob
H. Schif held an extended conference with j.
Pierpont Morgan and Robert Steele in Mr.. Nor
gan's office. and afterward went to see Mr.. Har-
rimsn. George w. Perkins was not at the con-
ference. and this seemed to take the lease of the
ore lands TO the Steel Corporation out Of the dis
cussion. That the conference was however of
considerable importance was shown by the fact
that Mr.. Steele denied himself to President
Monsarrat of the Hooking Valley Railroad, who
was In town. and waited for nearly an hour to
see Mr.. Steele But II subsequently denied
mat there was any treaty between the two fac
lions, as there is no fight existing between them
more than is always in progress in Wall Street
between powerful hnanciers who are trying to
add 10 their wealth 1t was also denied that
there were any negotiations for the sale of the
Hartman holdings of Hill stocks. And these
denials come from one of the persons chiefly in
interest.
Great interest attaches to the story never
theless, for the reason that through it there
comes confirmation of reports that have circu-
lated in the financial district for a long time.
IL has been said that the Union Pacific has been
dispOsing of its Northern Pacific and Great
Northern holdings. returned to it at the time
of the distribution of the stock held by the
were immensely valuable, and the sale of them
would add approximately S130O00O00 to the
cash in the Union Pacific treasury. The knoWl-
edge that these holdings have been sold. either
wholly or in part, is, Of course of the greatest
interest to Union Pacific stockholders, especial
ly i'm view of the fact that the directors OF that
road expected TO meet OH Wednesday next
and declare the dividend. Though there has
been great deal Of talk of 4 per cent, Wall
Street has ceased to expect now more than a q
per cent declaration, but in the light of the de-
velopments of yesterday it is also expected
that there will be a statement with regard to
the cash on hand. and resources of the company
which will furnish an inspiring spectacle.