The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1916-05-31
Louis w. Hill Takes Manage
ment of Fathers Estate.
Was President of Great North
ern at Age of 30.
ESTATE WORTH 100 MILLIONS
Hill Controlled Many Banks
and Other Institutions.
Most of Wealth in Stock OF
Three Railroads

St. Paul. Mimi, May 31.-Louls W.
Hill, son of the late James j. Hill, VINO
will succeed his father in the man
agement of his great railroad proper
ties, has announced some of his plans
He said that he would continue to
live in st. Paul.
tAs long as the railroads give GOOD
service" he said, 80 long will they
have good credit, and as long as they
have good credit go long will wall
street come out here to serve that
credit
Being a railroad president isn't
sinecure, but it isn't phenomenon
either. Ny father raised about TWEEN
ty-fiVe railroad presidents 1t was d
poor quality of man who stood by
James ]. Hill and didn't get presl-
dency. Look at me. I was president
of the Great Northern at 80. 1 had
to be a self-made man. in spite of my
fathers standing.
II got SIS a month as a billing clerk
five years after I left Harvard. 1
didn't get much more when 1 married
I had to earn every raise 1 got. Even
now there are two men working for
our properties who get bigger salaries
than I do
Mr. Hill said he had recently de-
cIined a dictatorship in Chicago be-
the windy city.
Mr.. Hills wealth is estimated all the
way from $1OO.00O,0OO to 100000
900. 1t probably is nearer the former
figure than the latter
The best estimate was had when the
European war broke out in July, 1914
At that time Mr.. Hill called bankers
together from the First National bank
and Northwestern Trust company. He
assembled a mass of his securities.
in the boxes that Mr.. Hill laid before
the bankers.
There should be no trouble" said
Mr. Hill. but if there is, this amount
is at your disposal"
Controlled Many Banks.
The First National bank then Dor
rowed from Hill $1o.000.0O0 worth of
Great Northern railroad bonds. THESE
were placed with the treasury depart
rnent in washington and $4,000, 900
worth of emergency currency allowed
under the AIdrich act was shipped at
once to the First National bank 1t
was found necessary to place only
s125,0OO of this in circulation. In a
few weeks the entire amount was re
turned to Washington.
Mr.. Hell had absolute control of the
First National bank and Northwestern
Trust company. which have a com
bined capital and surplus of $6,500,
600. Mr.. Hill was large owner OF
stock in the Chase National bank of
New York, First National bank and
Illinois Trust and Savings bank of Chi
cago, and the Northwestern National
bank in Minnea polls. He was a large
owner of the Great Northern Pacific
Steamship company.
Power to His Son.
The greatest portion of Mr.. Hilrs
wealth, however. lay in the stock and
bonds of the Great Northern, North
ern Pacific and Burlington roads.
The executors of Mr.. Hills estate
probably will be Louis w. Hill. his
son, and the Northwestern Trust CON-
pany.
The great power held by Mr.. Hill
will pass to L. W. Hill. who has beer
closely associated with him in bust
ness for ter years.
James n. Hill. oldest son, is a di-
rector of the Texas Oil company; Wal
ter. his youngest son, has big farm
holdings in bittson county, Mime
sofa. where he spends the most of hi.
time. 1t is believed Mr.. Hills vas
estate will be held intact through the
Northwestern Trust company and thai
the various heirs will be given life
interests.