Harrison press-journal. (Harrison, Nebraska) 1899-1905, January 09, 1902, Image 4

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    BLOCKS THE
BIG MERGER.
fcjactkt Restrii. Btlirmt of Ncrth
en Pieifte Preferred
North am Pacific, Great Northern and
a Part of the Burlington Aro
Declared Paraflal.
Hifinespr.lrs. (Special.) Just after
the noon hour today Charles S. Mel-
Jen, president of the Northern Pacific j
Railroad company, was served with
papers wmrn rnjum wi (.vnijja.tj
irom retiring the preferred stock.
The order was issued by Judge El
liott of the district court of Henne
pin county on the application of
Peter Power of New York, who holds
ISO shares of the toinmOJi stock- It
was supposed that the failure of the
action brought in the New York
courts by holders of preferred sto:k
cleared away the last obstacle to the
retirement of the preferred on Jan
wary I. leaving the Hill Interest in
eontrol of the road through Its ma
jority of the common stock.
The injunction restrains the North
ern Pacific Railway company from is
suing or selling any certificate of in
debtedness or debenture bonds or
other evidence of indebtedness or cre
ating any indebtedness or liability for
the purpose of raising money with
which to pay or retire the preferred
tock of the Northern Pacific Railway
company, or any part thereof, or from
aslng or appropriating any moneys or
proceeds other than the ordinary or
surplus net earnings of the Northern
Pacific Railway company to the pay
ment and retirement of the preferred
tock of the company or any part
thereof, and also from creating any
Indebtedness or liability other than
the ordinary indebtedness and liabil
ity for the operating expense of its
railroad system, and the indebtedness
and liability now existing which would
a preferrence or take precedence
of the common stock of said company,
also from placing its property, or any
part thereof, or the management of its
railway system or any part thereof,
in the possession or under the control,
either directly or indirectly, of the
Northern Securities company, or from
entering Into any agreement or ar
rangement, either directly or Indi
rectly, through the medium of the
Northern Securities company or oth
erwise with the Great Northern Rail
road company, the Chicago, Burling
ton Qulncy Railway company or
either of them, for the purpose of
causing the railway system owned
and controlled by theh Northern Pa
cific Railroad company to be operated
In connection with or under the same
rules or by the same authority as the
Oreat Northern Railway company and
the Chicago, Burlington Qulncy
Railway company, or either of them.
sr from entering Into any agreement
them for the purpose of avoiding I
competition and fixing rates for the j
carriage of freight and passengers
upon either of their lines of railway, j
DEFINES COMMON AND PRE
KERR ED.
The petition recites briefly the his
fory of the Northern' Pacific railroad
and the divisions of its stock into
common and preferred. " It is alleged
that the only difference between the
preferred stork and the common stock
was that the preferred stock was en
titled to the 4 per cent dividend prior
fo anything being paid on the common
Stock and the bill In this connection
alleges that the preferred stock . was
abject to be retired at any time
within twenty yeara after the time ,
f reorganisation of the company and
the Issuing of the stock out ot the'
swrplus net earnings of the company
and not otherwise, that hi other re
spects the rights of the preferred and
common stockholders were Identical.
The next bill recites tbeh organiza
tion f the Great Northern, Chicago,
starling-ton Qulncy line and al
legee that the Northern Pacific rail
road company and Oreat' Northern
flaJHray enmpanyare- parallel lines to
tb Pacific ocean and that the Chi
cago, Burlington Qninry railroad
baa a parellel line from Billings,
Jfont, to Chicago and thai such iim-e
are competing lines for the business
of th northwest.
PURPOSE OK CONSOLIDATION.
It la alleged that the officers of the
rent Northern road during last sum
mer and since the plaintiff became
flat owner of this stock, and without
any knowledge on his part, went into
eombtnatloo with the Oreat North
ern and the Chicago. Burlington
Qulncy, the purpose of which was to
oensoHdate the three systems under
one management, and knowing that It
eeuld not b legally effected, the dl
factors af the three companies, for the
smsagj of doing Indirectly wttat they
stall not do directly, caused to be or -nsjsasd
th Northern Securities com-
fsay, a New Jersey corporation, with
a anpttaiiaatiea af J4M.tat.sM, wMofc,
tt charter was aaaortsed to
bends gad)
V lOtsSsueV OWffoosHiy Osairal Je
f' y T75aseT waw tm this efty teomy la
,. I 1 1 JHOl hew arary rista. 1m m
laoawwiiir he atsdoa, (ft n-
J tgoxk M the sWattM ". .
t -0Om Co the tm-
4 a
i c3i trawa eiwc?
securities of other corporations, the
Intention being to cause a majority
of the sto k of all three raiwsy com
panies to be transferred to the North
ern "Securities company, and to be
controlled by It, thereby controlling
the three systems of railway through
thhe medium of the Northern Secur
ities company, suppressing competi
tion, regulating the tariff rates and
conducting the entire business of the
three system a one corporation.
I PRONOCXCKS SCHEME IbLRGAI
It is further alleged that thereupon
the Northern Securities company com
menced to advertise on lei-ma of ex
change, ail the stock of the Great
Northern company, unil mil iw
whole schema was illegal, In violation
:of the law of this state and other
mates through which the railway
lirle, paM a,aint the pubic laws of
tne t-njted States and of each of the
places.
The bill also alleges that under and
by virtue of the charter of the
Northern Pacifie Railway company
and under the provisions of the re
organization agreement the preferred
stock can uniy ' be pwd f&T ST.S re
tired out of the net surplus earnings
of the Northern Pacific Railway com
pany and not otherwise.
That not withstanding these provis
ions the directors of said company, for
the first step In carrying out their
plan of transferring the control of the
defendant corporation to the North
ern Securities company, have served
notice upon the holders of the. pre
ferred stock, that on January 1. 1S02,
they would retire such preferred
stock. The bill alleges further that
since its reorganization the Northern
Pacific Railway company has con
ducted a successful and profitable bus
iness and ha paid 4 per cent on Its
preferred slock and is now paying 4
per cent on the common, out of the
earnings, after paying the filed
charges and the operating expenses;
that there Is a fund of about K.OOO.fl
set aside to secure payments of divi
dends on preferred stocks and be
tween J2.OOO.OC0 and I3.006.CC of a
general surplus; It has now on hand
exceeding J3.000.000 derived from the
earnings of the road, wherewith to
pay the J75.000.000 of preferred stock
at par, but that in order to retire
such preferred stock the directors of
the company are threatening to Issue
and sell certificates of Indebtedness of
debenture, bonds, amounting to J7",
000,000 of the Noithern Pacific Railway
company, and out of the proceeds pay
off the stockholders of the preferred
stocks at par, January 1, 1S02.
NOTJCB OF RETIREMENT.
It Is alleged that the Northern Pa
cific Railway company ha caused to
be sent to each of its preferred slock
holders a notice that it would retire
the whole of the preferred stock at
par on January 1, 10"J, and that the
transfer books of the company were
closed Tuesday, December 10, 1S01, at
3 o'clock, for the retirement of the
prefered stock aforesaid
The palntiff says he has been unable
to obtain a copy of the resolutions of
the board of directors as to the issue
and sale of the certificates of Indebt
edness or debenture bonds, but th
general effect of the resolution, he al-
by the Northern Pacific railway to the
stockholders, a copy of which circular
Is made a part of the bill.
It is alleged in the bill that no meet
ing of the shareholders of the defend
ant company has been called to make
the lJ5ue of the certificates of Indebt
edness or debenture bonds; that the
board of directors Is without power to
issue such call; that at the time of the
issue of the certificates of stock to the
common stockholders when the com
pany reorganized in H98 and by th'
reorganization agreement provided
"that the company shall not put a
mortgage on Its properly embraced in
the property in the Northern Pacific
system, nor shall the amount of the
preferred stock be increased except
after obtaining in each instance the
consent of the majority of holders of
the whole amount of the preferred
stock and the consent of the holders
of the majority of common stock, to
be voted separately; that the plaintiff
is unable to ascertain whether certifi
cates are to be secured by a mortgage
on the property of v the Northern Pa
cific company or not, but whether se
cured by mortgage or not it constitut
ed an indebtedness due and payable
not later than 1907, with Interest at 4
per cent, whether the company has
any earnings or not out of which to
pa? It, and; sr. indrbtcdscxs upon
which Judgment can be obtained, the
property of the company sold, the
rights of the common stockholders
foreclosed and that If the common
stockholders foreclosed and that If the
common stockholders or a portion of
thera take advantage of the option of
fered them to take common stock for
their certificates of Indebtedness, the
common stock Is greatly Increased
without the vote of the stockholders
of the company and without the au
thority of the law of the state where
I was Incorporated.
NOT A UXN ON PROPERTY.
The petition alleges that It was pro.
posed In this way to substitute for the
present preferred stock, which In no
way constitutes a Uea upon ttm prop
erty of the Northern Pacific company
and Is not a charge against the earn-
InaTB of the compear and has o prior
after the war, oaa
thai arawt boss. For eae
priamty aioae aaa laj
Maaflttr. There wti he ao paattioal
break la d.1ag
by gay party
VX30T, EL. M eM ae
Kl IfcKSv "
roawa watte
re ft-sTTilil
etaaa, wttti the asrrJag f the eater
KlMlM by CM swt. " ; '
right orsr th common stork
In priority of dividends, a convertible,
negotiable security or debenture bond,
bearing Interest at the rate of 4 per
cent per annum, which said amount
of 4 per tent per annum is a fixed
chajge against the earnings of th
comnanv and its Drooertv and must
be paid whether the earings for any
year amount to 4 per cent upon saia
Issue of convertible certificates of In
debtedness or debenture bonds or not,
nd under which, if default Is made
In the payment of said Interest or any
payment of the. principal when due in
1S07 or at any time prior thereto un
der the provision of said certificates of
Indebtedness or debenture bonds, the
entire property of the Northern
Pa-
elite Railway company be sold to sat
isfy the Judgment or Judgment which
may be obtained thereunder and all
equities and rights of the common
stockholders extinguished.
SCHEME PROVOKE LITIGATION.
The bill sets forth that the scheme
has already crovoked litigation, which
is now pending, and plaintiff swears j
that by reason of public criticism oth
er serious litigation will be inniiiute-l j
unless the defendsnt railway company ;
h rffrifnrf frrtrn rarrvlne out ItS il- !
legal sheme and design, and in this '
connection it is aliegede that proceed--;
ngs are about to be Instituted against j
the Northern Securities company, the
Northern Pacific Railway company, the
Great Northern Railway company and
the Chicago, Burlington A Quincy
Railway company by some one or
more of the states through which the
roads pass, to prevent the consolida
tion In the manner alleged In the bill,
and that the action of these compa
nies wi) linvite and arouse hostile and
punitive legislation by all states thro'
shlch the roads pass, and that In th
case the railway company should car
ry out and accomplish the plans arid
schemes mentioned It will be subject
to have its charter lights forfeited.
Th hill rjcit th nrovisinn for the
constitution of the state of Montana j
prohibiting the consolidation of com
peting and parallel lines of railway,
and also the laws of the state of
Washington prohibiting the consolida
tion of parallel and competing lines,
and alleges that the Northern Pacific
and Great Northern Railway compa
nies are parallel and competing lines.
GIVE PURPOSE OF COMPANY.
It Is particularly alleged In the bill ,
of complaint that the Northern Securl- j
ties company is a railroad corporation
and was organized for the express and
sole purpose of uniting under its man
agement and control the defendant.
Northern Pacific Railway company, the
Chicago, Burlington & Quincy Rail
road company and the systems of rail
ways controlled and operated by each
of, these railway companies, respect- j
ively. and for no other purpose, and
that the Northern Securities company
was organized for the purpose of own
ing, holding and controlling all three
of the corporations mentioned in the
bill and their various systems of rail
way, so that all competition between
these companies may. be stifled and
prevented, and that unjust and Inequit
able exorbitant rates for both freight
and passenger traffic may be obtained
by them. I
The bill further sets forth that It is
the design and purpose of the North-
ern Pacine Kaiiway company, me
Great Northern Railway company and
the Chicago. Burlington A Qulncy
Railroad company to consolidate and
merge in tne Norinern cecumi com
pany, the complete and exclusive con
trol of each and all of these railway
systems and that the proposed at
tempted retirement of the preferred
stock of the Northern Pacific Railway
ompany Is solely for the purpose of
enabling the Northern Pacific compa
ny to turn over to the Northern Se
curities company a majority of the
stock of the Northern1 Pacific Rail-
ay company; that the proposed and
attempted creation of an Indebtedness
of 175,006,000 en the part of the North
ern Pacific Railway company is solely
for the purpose of paying off and re
tiring the preferred stock, to the end
that a majority of the common stock
may be so turned over to the North
ern Securities company.
It is alleged that In case the North -
rn Pacific company proposes to snd
ln carry out the plan and scheme
teged In the complaint that the
plaintiff will be Irreparably damaged
and that he had no remedy at law
for his damage or Injury or any part
of It, either against the company or
the officers thereof.
The bill then prays for Ihe writ of
injunction as Issued by Judge Elliott.
mi sau:s at Ro'::.s fcses.
Denver, Colo. (Special.) Meat Is
selling at ruinous figures, a fact caus
ed by the war between the butchers'
union and the Swift Packing company.
Retail shops became Involved and the
prices dropped So per ronl. which
makes them M per cent leas than th
cost on the hoof. The union has warn
ed retailers that a boycott will be de
clared on ail 'shops handling the Swift
produce The tight was caused by
the refusal of the Swift company to
pay a one of tm, Imposed by the
union for selling to a non-union shop.
The state of Colorado la Involved, and
the company announces it has fl.Mt,
M to spend In order to win out. ,
Co M tlw
WaeWagten. D. C.-pecUl.) aena
tor Park me of CaHtorala Introduced to
the prastdsnt Prof. CampheO, so perl a
laadeat aad areata af the lick eb
serTasry.ad Prof. SUoa Nsweombe,
the asataratsa' astroaoMer. Prof.
Campbell larlted the prsaldiat U vlert
the Uak stoinatory. The preHaeat
lata ftfca that It was hM tateatloa U
a trh to as PaeWe
sjMMf Mat th It hM
eatfttJ s K taN grs Msg fraat
(tJCTSTt h fXOt OS
JOE BARTLEY
IS PARDONED.
f HflMiCf U-UUVtttt It Mltlttl
Frta ttt Ptattntiary.
Governor Savage Declares Ho Has
Soon Punished Enough, Goto
Many Petition.
Lincoln. (Special.) With his wife
on one side and his daughter on
the other former State Treasurer Jo
seph 8. Bartley walked out of the
doors of the state penitentiary last
week with a full pardon In his hand
to commence the year 101 a free man.
Governor Ravage signed the papers
which brought Bartley Into the world
again.
The time served by the former state
treasurer In the walls of the prison
is, counting the time put In In the
county Jail, five years, .even
months and eight days.
Governor Savage commuted his sen-
tence to this period and the time ex
pired at midnight, December 31.
Private Secretary Clancey was sent
to the Bartley residence with the
papers. He placed them, together
with a discharge from the peniten
tiary, In Mrs. Bartley's hands.
The house was a scene of the ut
most excitement as the family hastily
entered the carriage of Charles O.
Whedon and drove with all speed for
the big gray stone building.
Warden Davis had been expecting
them and had the prisoner ready. His
Incarceration was all the more bitter
since the taste of liberty he had had
by the parole granted by the governor
July 13 and recalled July 28.
The scene, when the family met in
the warden's office, was an affecting
one. But after the first greetings and
congratulations the party went to the
carriage and drove directly to the
P-artley home.
Here It was but a few minutes until
crowds of friends began to gather and
overwhelm him with good wishes. in-
vitations to New Year dinners were
f iVtn almost without number, but the
OTmer treasurer refused them all,
preferring to remain at home for the
day.
Bartley's real Imprisonment cm
nienced when he was first placed In
the Douglas county jail, June 24, ISK7.
The supreme court approved his sen
tence of twenty years In the peni-
tentisry July ,
The recall of the parole of July 13
was due to the action of the state re
publican convention, where resolutions
were passed.
With the commutation of the sen
tence Governor Savage has Issued a
Ion statement of his reasons. He
has, he says, come to the conclusion
that Bartley has suffered enough for
his crimes and that the sentence
Bnoud shortened.
The primary question to be consiil
ere(j jn au esses Involving executive
ciPmency is, "has the prisoned been
puriBhed In a degree commensurate
0ffense?" the governor says.
His action answers the question as
he sees it.
A thorough examination int othe de
tails of the matter has been made.
Governor Savage says, and this ha
convinced him that the demands of
organized society have been met.
He also gives attention to the state
ments that have frequently been made
that Bartley's offenses were more bit
terly criticised than they might have
been through the fact that the state
was then In thhe throes of a cam
paign and that Bartley's sentence had
In It something of a personal equa
tion. In closing the governor says he has
petitions containing the names of
more than 4,0S0 of the state's most
prominent citizens, asking for Bart
ley's freedom
STISXED IT THE lAKTLEY PARISH..
Lincoln, Neb. iSptla1.) Governor
Savage has left for a short tour of
the southern states, his final destina
tion being New Orleans. At the state
house it was understood the pardon of
Joseph Rartley was to be the final act
of xe."Bt'.v clemency for th present
holiday season. No local "happening
for months has caused the sensation
that did the release of the former
state treasurer. ,
Governor Savage said he had receiv
ed many personal expressions of ap
proval of his set, as well as messages
of congratulation. Telegrams of the
same tenor poured into the Bartley
home, and friends snd former neigh
bors called to express their good will.
In this city there were also expres
sions condemning the governor's ac
tion, a (worn pan led by predictions that
It would have an Important political
bearing. Mr. Bartley would make no
statement- The theory that the gov
ernor was actuated by the belief that
the pardoned man would be In a posi
tion to make restitution of part of the
funds lost to the state was neither
affirmed nor denied.
CeNsrartaiatael ao Honor Prom Kaiaev
Washington. D. C.-(r)peclal-Mlsa
Alice Roosevelt, the daughter of the
president, was much complimented to
4ay by her friends and acquaintances
erer a oastegrsai from Benin, convey
lag; the Information that the kaiser
wanted fear to name Ma aew yacht
Taws far as oftVial latimetioa of the
MteraaUonoi compliment hat reached
the White hoMM. The kaiaefa request.
whoa aCMally aed. wlU lake aems
tlaM M raaoa Maw Roosevelt, through
ti mmti alptoaalu cfeaaaete.
fo ga n T3 cm
Helena. Mont. f Special.) A dei-
nlte plan of action to defeat the pro
posed consolidation of the Northern
Pacific. Oreat Northern and Burling
ton railway systems was today
unanimously agreed upon by the gov
ernors and attorneys-general of sev
eral northwestern nates In which
those roads have mileage.
Legal action will be instituted Im
mediately In Minnesota courts with
this object In view,' and to quote At
torneys GeneraJ Douglas of Minnesota,
"the thing will be foMght to a finish."
Just hew, when or where these suits
will be brought, neither Governor Van
Sant of Minnesota or Attorney Oen-
eral Douglas would state. The con
ference adjoruned late this afternoon
after adopting resolutions condemning
the proposed merger as contrary to
sound public policy and pledging sup
port to any proper legal action which
may be brought to test Its validity.
The first resolution Is as follows:
"In our opinion the consolidation or
threatened consolidation of the Great
Northern, Northern Pacific and Bur
lington railway systems In the several
states through which they run as par
allel and competing linea Is contrary
to sound public policy and also, with
the exception of Idaho, Is In violation
of the constitution and laws of said
states, and mindful of the obligation
which the law Imposes in such cases
upon the officials of the several states
here represented we hereby give our
unqualified approval and endorsement
to any proper and suitable proceed
ings which may be instituted In any
court having jurisdiction by the sov
ereign state of Minnesota or any other
state affected thereby, designed and
Intended to speedily and finally test
and determine the' validity of such
consolidation or threatened consolida
tion and to that end we hereby pledge
our earnest co-operstlon, and, fur
ther, we unanimously protest against
any combination or consolidation
which restricts or stifles free competi
tion In the trade or commerce of the
country."
This resolution was unanimously
adopted. The second resolution, which
was a substitute for Ihe one offered
by Governor Hunt of Idaho, along the
same lines, was as follows:
"Whereas, A consolidation of the
great transcontinental railway lines
is threatened, which, in the opinion of
the members of this conference, Is
inimical to the public welfare, there
fore be It
"Resolved, First, That the con
gress of theh United States be and
hereby is requested to Investigate the
general subject and take suitable ac
tion thereon.
"Resolved, Second, That power
should be granted to thhe Interstate
Commerce Commission to fix maxi
mum rates upon Interstate traffic and
to regulate the same.
"Resolved. Third, That a copy of
these resolutions be forwarded to the
enatois and representatives In con
gress of theh states here represented."
Governor Van Sant expressed him
self as much gratified over the re
sult of the meeting which had been
requested by him.
"So far as I am concerned." said he
Mfter the meeting adjourned, "I am
thoroughly satisfied with the work of
the meeting. It accomplished all that
ould be desired. I am very mucb
pleased."
BOER CALLS ON THE PRESIDENT.
Washington, D. C 'Special. ) Com
mandant W. D. Snyman, who was a
member of General Dewtt's staff In
South Africa up to a year ago, and
who for some time has represented
the Boer cause in the west, called upon
President Roosevelt. Commandant
Snyman Is a tall, flne-lnkltig Itoer and
talks English with a slightly broken
accent.
'1 called upon the president," said
he, "to thank him for having sent to
my wife, who Is In South Africa, some
money I desired her to have. I shall
always feel grateful to President
Koosevelt. I saw my wife's signature
today for the first time In months."
How did you wife get the money 7"
Through the L'nltn Htates consul
at Capetown and her answer to my
letter was returned through the same
channel.'
He did not think the war in houth
Africa a proper subject to discuss
with the president. He simply wanted
to thank him for getting the money
to his wife. "The, Boers," said he,
can see easily that the president can
.! nothing to step the r.ar even If he
were so disposed. Hut we will appeal
to congress for an expression of opin
ion. We hope that both political par
ties In this country will unite In such
an expression. We do not want the
matter made a party question so as
to embarrass the Cnlled States in any
way. I believe the English people
would welcome an Interference suffi
cient (o cause the authorities to drop
the war. eW art willing to make
some concessions."
Guarded By Dogs.
Rawlins, , Wyo. (ttpeclal.) Guarded
faithfully by his two dogs, the body
of W. U. Mooney, one of the herders
of the Pacific Sheep comany,who was
frozen to death, was found by search
ers and brought to this city. The dogt
had been by him several days, and
kept the coyotes away.
Qtwm Rod gars "aaaral.
Tacoma, Wssh. Spe lal.) The fu
neral of John Rankin Rogers, the
third governor of Washington, was
held yesterday. The entire city was
draped la black and thousands of peo
ple thronged the streets. The remains
were escorted te the Hillside cemetery
at Pu rails p, by several companies of
the National Ouard, aad fifty flies of
Masons, besides a long procession of
friends and the pahUe. The services
at the gravt wart aadtr Masonic nut-
DISOLVES THE
INJUNCTION.
Fistril Curt lidto li Fim if Cs
lirttiri Pacific.
Refuses to Allow Appeal from Order
fretting Aside Injunction to e
atram Retirement of Stook.
Minneapolis. (Special ) Judge Wil
liam Ixwhren of the I nlted Statea
circuit court today dissolved the
temporary Injunction Issued In the
case of Peter Power against the
Northern Pacific Railway company by
Judge Klllott of the district court of
Hennepin county Monday.
The injunction which waa dissolved
by the order of Judge lxchren re
strained the Noithern Pacific from Is
suing any evidences of Indebtedness to
retire ths preferred stock of the com
pany or to retire the. preferred stock
in any other manner than by the use
of the surplus net earnings of the
road. It also restrained the Northern
Pacific and its officers from entering
into any agreement or doing any act
by which the road would be consoli
dated or merged, through the medium
of the Northern Securities company
with the Great Northern or the Bur
lington, or either of them.
After the derision was made orally
by Judge I hren at the close of a
day's argument by tne attorneys for
both sides, an effort was made by the
plaintiff's attorneys to have the court
fix the amount of bond which would
be required In order to appeal from
the decision and to stay all further
proceedings in the lower court pend
ing the appeal.
Judge lehren refused to allow a
supersedeas bond In any amount to be
Elen.
Judge Iochren held that the North
ern Pacific was acting wihln the au
thority of Its charter, of the contract
entered Into between It and Its stock
holders aa Incorporated In the cer
tificates of preferred stork and of tht
agreement of November 13, In at
tempting to retire the J76.0O0,Ok of
preferred stock in the manner al-Icge-l
by Mr. Power.
He also held that railroad corpora
tions could not do Indirectly what the
law prevented them from doing di
rectly and that any method by which
consolidation of two or more compet
ing and parallel lines would bo
brought about would be Illegal and a
writ of Injunction would be to re
strain the consummation of the plan,
bjt that there was nothing in the
case as presented to him, that would
indicate that the stockholders of ths
Northern Pacific Railway company
were attempting such a consolidation
or merger.
Judge Lochren in his decision made
a ruling which the attorneys of J. J.
Hill etaim settles the question of the
legality of the proposed merger. Said
the court: .
If the Northern Pacific Railroad)
company never thought of consolida
tion, but to pay off the preferred
stock holders and issue common stock.
it had authority to do that, snd that
of itself would certainly have no tend
ency toward consolidation.
"It seems to me that the preferred
stock may all be retired without the
Northern Securities company being
formed and If unlawfulness consists
not in the -retiring nf this stock but
in the acts which result In the forma
tion of that company and placing
other securities In that company."
Mr. Powers' attorneys tonight au
thorised the statement that the fight
had Just begun and that they would
appeal to the United Ktates auprenae
court.
RUMOR MISS STONE IS FREE.
Sirndoiu (Special.) A dispatch to
the Central News from Vienna says a
re part has been received there via
Sofia to the effect that Mlsa Helen
None, the captive missionary, aaa
been released. The report lacks con
flrmatlon. Washington, D. C nwial. The
state department officials say they
have no recent newt bearlna on the
case of Miss Ktcne and therefore o&a
not confirm the dispatch from London
transmitting a report that she baa
been released. At the same time such
a consummation of the efforts In her
behalf would not be surprising, aa
the latest Information received hero
shows that responsible Dart lea are In
communication with the brigands who
hold her captive and the latter know
these parties have all the money thai
can be raised with which to ransom
the captives. i
Ixndon.-(Hpeclii.)The Sofia eorre.
spondent of the Dally Telegraph haa
cabled sn unconfirmed rumor to the
effect that Miss Bton and Mme. Tsll-
ka were liberated In Turkey on Janu
ary l and that the Americans who
conducted the negotiations resulting In
this reported release agreed, In the
presence of tht captives, to maintain
absolute silence regarding the captors.
Maat Cat rot Doga Ta Suatam Ufa,
Barlln-tSpeclsl.) - The distress
among the agrarians is most serious.
The farmers are flocking to the cities
In the hope of obtaining food. Many
have been compelled to eat their pot
ooga, in oraer to escape starvation.
Things hava rearhxt Bu.a ,
Hy that ths authorities In the vlllaaw
n. - .
swnousiy cooeiaerlnf a
proposition to opea a dog butchery, l
rder to properly prtpart cartas la
a mm tl
. i
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