The San Francisco call., 1906-12-19
HARTMAN WINS IN
FIGHT WITH HILL

CHICAGO, Dec. 1s.-Edward II. Har-
riman has repaid James J. Hill in his
own coin by Wrestling victory from him
in the shadow of defeat through one of
the most effective coups ever executed
in financial battles. The control of the
Chicago. Milwaukee and ST. Paul Rail-
road. which Morgan and Hill confident
ly believed to be theirs yesterday morn
ing, is still lodged with the Hartman
Standard Oil interests and will be
engthened.
AS Hill threw Hartman out of the
ownership of the Northern Pacific in
the Christmas season of 1901 so Harri-
man has ousted Hill from an owner
ship in st. Paul. Hill executed his
flank movement by retiring the pre-
ferred stock of Northern Pacific, in
which his opponents control centered; I;
Hartman and his friends maintained
st. Paul by issuing two-thirds of a
t1oo,O0o,ooo stock increase to the hold
ers of the preferred.
While EIilrs control of Northern Pa
cifc common was a golden apple. his
control of St. Paul is but ashes. For a
month there has been a titanic struggle
for the ownership of st. Paul In the
open market Quietly and almost un-
suspected the Morgan-Hill people have
been buying st. Paul in the hope of
getting control and turning the Pacific
Coast Extension southwark into the
Hartman territory.
Yesterday the Initial point was
reached. The Morgan-Hill interests
were within safe grounds; they could
count on enough stock to swing the
management of the road and they
reached for good margin over actual
| control To their surprise stocks came
from quarters supposed to be friendly
to St. Paul interests. There was hesi-
tation in the purchase. a searching in
euiry, and the information from friends
in the enemys camp that there would
be coup in the announcement of a
stock issue of s100.000,000, which was
s25,000, 600 more than was expected al
this time. Then the contest was given
up by the Morgan-Hill people and the
| stock broke and weakened the market
The official announcement betrayed
the cunning of the Hartman people
| to make safe their agreement, to
make sure the extension of the st Paul
into Hill territory. OF the 1851. 00C
new stock. the preferred is s66.327.0o0
or 1875 per cent of the present Issue OF
s4e,e54, ,oeo. There. is to be s331S4,00C
new common, or 40 per cent of the
present issue of $83.1SS,000. The Har-
riman Standard Oil interests will con-
troll the bulk of this new stock.
MINNEAPOLIS, Dec. 1s.-Attorney
General E. L. Young has not yet heard
omciaiiy from the 1Iedt Noftherh az
to whether they will apply to the
State Railroad and Warehouse Com
mission for permission to issue $780,
100000 in stock, as was provided fol-
in the revised laws of 1905. The attor-
ney is prepared now TO stop any at
tempt by James ]. Hill of the Great
Northern to issue the stock without
first obtaining his permission.
Attorney General Young said he did
not expect any further developments
is scheduled to take place.
We will be ready for Them" said
Attorney General Young. ION that date
and they will not issue any stock II
there is any virtue in our laws"
\ The Attorney General intimated that
injunction proceedings would be
brought to prevent the alleged viola
tion Of the Minnesota statutes.