Plentywood herald. [volume] (Plentywood, Mont.) 1908-current, 1927-11-18

interest. A more important factor was
the effect OF his personality, the quail
ties of the man, his record as the builder
and manager of the Great Northern
and his friendly relations with many of
those who held large interests in the
Northern Pacific. In this way was estab-
lished the sort Of community Of interest
which is all the more real and lasting
because 1t rests on mutual understand
ing and confidence rather than on any
formal stipulation. 1t gave practical effect
to natural avs OF railroad growth and
development, in a shape that did not
run counter to laws or court decisions. 1t
was a long step forward In the adjust
ment OF traffic facilities for the north
west according to economic necessities.
1t prepared the way for h purchase Of
the Burlington system, soon to follow,
and for the formation of the Northern
Securities company which attempted in
1901 what Is now attempted In Mime
apolis-the absolute consolidation of the
two systems.
The Northern Securities company, by a
vote Of five to four In the United States
supreme court, was declared illegal and
was forced to dissolve in 1904. But Mr..
Hill, to his dying day, commended that
it was not in c~ontravention Of American
law, either In letter or spirit. though he
promptly dissolved 1t when ordered to do
SO. In an article in the st. Paul Globe
OF Dec. %, 1901, he outlined the Securi-
ties company In the following words:
When the Northern Pacific failed and
the banking house Of j. p. Morgan g. Co.
~reorganized it, myself and friends were
holders Of a large amount of that COM
pany's securities. After the r~eorganiza-
ton was completed we bought about
$40, 600, 900 Of Northern Pacific stock.
both common and preferred. Some Of
this stock wat afterward sold by indi-
viduals, but a large mount has been
held from that time to h present.
What Union Pacific Sought
About a year ago the Union Pacific
bought the Huntington and
other interests in the Northern Pacific
and at the same time made an effort to
buy the control Of the Chicago, Burl-
ington & Quincy.
with these lines In the hands of the
Union Pacific interests, both the North
ern Pacific and Great Northern would
be largely shut out OF the states Of Me-
braska, Kansas, Missouri, South Dakota,
Iowa, Illinois and Wisconsin, except
by using other lines of railway, some OF
which were In the market for sale and
might at any time pass under the con-
troll Of or be combined with the Union
Pacific interests. We then, with the
Northern Pacific, made proposals to the
directors Of the Burlington to buy their
entire property. When this transaction
was about being closed the people who
represented the Union Pacific company,
and who had previously tried to buy the
Burlington. asked to be allowed to share
with us in the purchase OF that COM
pany; this proposal we refused for the
reason that 1t would defeat our object In
buying the Burlington, and. further, II
was against the law OF several Of the
states in which largest mileage of the
Burlington was located
that time, against the opposition
of the more southerly lines, both the
Northern Pacific and Great Northern
had put into effect a low colonization
rate and we're carrying daily thousand!
Of people Into the northwest, many O,
whom were coming from Kansas ant
Nebraska along the lines Of the Unior
Pacific. This movement was at Its height
in the month Of April, n after we ha<
closed the purchase Of the Burlington
the Union Pacific people undertook tn,
boldest effort hat ever was made II
this country and bought more than $50.
000, 900 OF the stock OF the Northern Pa,
cific in the markets OF Europe and tn,