The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-12-16
]. ]. HILL IS MAKING
WALL STREET. LAUGH H.
His Breezy Western Independ-
ence Is Ad1nired-His
Stocks Decline.

New York, Dec. 15.-James j. Hill
is making Wall street laugh. In his
droll way he has said that he does not
care any more about government in
designations than he does about a drop
of water in. the Pacific ocean. Mr.. Hill
is not at all the type of man that old
Commodore Vanderbilt was, yet his
contemptuous reference to President
Roosevelt s proposed investigation of
the Great Northern, Northern Pacific
and Burlington roads is on a par with
Vanderbilt's "the public be damned
eminent Investigations of railroads do
not amount to anything, especially when
the doings of the roads are guided by
the most expert legal talent in the
country.
Thus the street was amused at Hill g
laughing at this than the new "melon'
was announced, the Great Northern is
to issue $60,000,00O in new stock, an
attorney general in the west is going to
tie it up, Hill stocks went down with
rush, and so it was again to laugh
but another kind of laugh this time.
Not long ago Wall street was GER
tain that James J. Hill was after the
control of Missouri, Kansas &. Texas.
Now it wants to know if the story that
E. H. Hartman is after it is true. Men
near Mr.. Hartman say that he does
not want the property; the Rock Island
people say they have net bought any
of the stock and do not want any; Mr..
Hill declares he does not care for the
road, and SO on. In the meantime the
street is waiting to hear who really does
own the road.
Railroad men attach great Importance
to the presence in New York of Presi-
dent Earling Of the St. Paul, President
Hughitt Of the Chicago & Northwest
ern, President Elliott of the Northern
Pacific and President Harahan of the
posed to believe that an announcement
will soon be made of another issue of
stock. 1t is understood that the con-
trolling interest in the Great Northern
and Northern Pacific have encountered
many legal difficulties in connection
with their plans regarding the Burling-
ton,. but apparently they are disposed
outlined just as far as possible. It is
believed that the Vanderbilt stocks,
and especially New York Central, will
be prominent in the near future. The
Nickel Plate stocks, it is said, will
discount the increase in dividends prom
ised for next month. New York Cen
trail, however, as the holding company
ing power, will in time be the principal
beneficiary of all dividend increases of
constituent companies. The earning
power of Lake Shore is so great that
an increase of the dividend to 20 per
cent is confidently expected next year
formed interests look to see New York
Central pay 8 per cent dividends
Interests which predicted a sharp ad-
vance in Canadian Pacific say that
there will be a corresponding movement
in St. Paul. Men familiar with Can
adam Pacific matters do not believe
that another issue of stock will be
made until next spring. They are
confident, however, that anywhere
mon stock will be offered to the share
holders at that time at par. Two
hundred is the figure predicted for
Canadian Pacific. Friends of Can
adam, Pacific say there is no reason on
the basis Of its intrinsic value why
Canadian Pacific should not be worth
as much and sell as high as Great
canadian Pacific has assets in the
shape Of mineral and timber lands
! which are as valuable as those of the
Great Northern.
Decidedly higher prices are pre-
dicted for Amalgamated Copper as soon
as the market becomes more active
tien IN a position position to get good informa-
will make up the dividends that were
cut off few years. ago. They believe
that an increase in the dividends Of
the underlying companies of the Anal
gamated will be made which will
warrant the declaration Of substan-
tlal extra disbursement on Amalga-
mated stock. ="
United States Steel continues to be
well bought and to be well spoken Of.
There is considerable difference of