New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-05-29
HILL STOCKS NOT
LIKELY TO BREAK
Wall Street Has for
Months Discounted Any
Contingency.
RAILROAD BUILDER
LONG INACTIVE THERE
Supporting Orders Even Likely
to Raise Prices Should
His End Come.

From the standpoint or wall obreel
tho possibility that James j. Hill will
not recover from his illness is Interest
ing, but not important. Tho Street
would regret the passing of one who
for two generations was big factor
in American railroading and finance,
but the tape would record no great
break in prices because of it, no panic.
For this there are two chief reasons
first, Mr.. Hill had for years been
gradually unloading the burdens that
had long been his and placing his house
in order. He had become one Of the
elder statesmen Of tho Street and was
no longer one Of the active workers.
The other reason is that Wall Street
has known for months that his health
was poor and for more than a week
that his condition was serious for a
man Of his advanced years.
So warned, Wall Street, true To its
custom and habit, has for long period
discounted the possible word from St.
Paul that the great railroad builder is
no more. Whatever selling Of the So
called Hill stocks the news Of his death
may be expected to cause has undoubt-
eddy been arranged for in the form of
supporting orders, just as in the past
when other great captains Of finance
and railroading have paid natures las.
debt and their stocks held steady, IL
they did not advance.
CAGE of ]. p. Morgan Cited.
This vas the case when the cable
from Rome brought news that j. Pier
pcnt Morgan, ST.. was dead. There
were supporting orders in plenty I'M
der the market, and the break that
those unwise to Wall Streets ways
might have looked for did not ma
terialize. A few years previous the
announcement that HIPS great rival,
Edward II. Hartman, was dead in his
Arden home was followed by a sharp
rise in Union Pacific, which had been
depressed. This was due as much TO
the rush of those snort Of Harrimans
TO cover their commitments as to the
support which the bankers interested
in the property arranged to give.
OILY II the case of the late Roswell
7: Flower does the present generation
or Wall Street men recall that the
Death o. one prominently connected
with an important property was fol-
lowed by collapse of values. Flowers
death was followed, it will be remem-
bered. by a crash in the price of
Brooklyi Rapid Transit which swept
away fortunes, although when the
Flower estate was settled it was found
that the Ex-Governor held compare
lively little of the stock.
Brooklyn Rapid Transit, however,
was then big speculative issue. It
is a long time since the Hill stocks
could be so classed. Rather have they
belonged in the semi-investment class
and are generally held in strong
hands, not in weakly msrgined specula-
tive accounts.
Different Ten Years Ago.
Ten years ago the death of Mr. Hill
might have told another story. 1t is
nearly that many years since he gave
the first public intimation of his in
tention Of gradually retiring from the
active management of the properties
with wLich his name had long been
identified and in which he amassed his
millions.
In lis valedictory as chairman Of
the Great Northern, issued on July l,
1912, Nj. Hill said:
"The financial outlook OF this COM
pany is as we'll assured as that of most
governments. 1t has a provision now
made deliberately and not under the
pressure of necessity for the work Of
years to come. No emergency can sur
prise It."
Mr.. Hill continued to be a frequent
visitor TO his Offices and to the dis
trict, but these were the visits of the
old soldier TO fields Of victory.
On May 20, when it was first pub
lished that he was very sick, North
err Pacific advanced two points. and on
Saturday, when it was well known on
the floor of the exchange that his con-
dition was critical, Great Northern pre-
ferred closed but one point lower in a
dropping market.