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The Minneapolis journal. (Minneapolis, Minn.) 1888-1939, May 07, 1901, Image 1

Image and text provided by Minnesota Historical Society; Saint Paul, MN

Persistent link: http://chroniclingamerica.loc.gov/lccn/sn83045366/1901-05-07/ed-1/seq-1/

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All Because of His Indiscreet
Magazine Article.
If He's Not Censured Other Powers
May Express Disapproval.
The Minneapolis Man Bound to Be
;in the Presidential Mind In
ET— Connection.
Trom The Journal Bureau. Room 43. Toe*
Building, Washington.
Washington, May 7.—Minister Conger
has been sharply criticised in official cir
cles here for his article on China, which
appeared in the current issue of an east
ern magazine. A high official of the state
department points out that Conger is still
minister to China and will continue in
that capacity until his resignation is
formally accepted, which will not be until
sixty days from the day of his arrival
home. -^tffeß_jp
This being the case, it is thought to be
not improbable that Secretary Hay may
publicly reprove the minister lor discuss
ing with such undiplomatic freedom a
situation that touches and interests every
civilized nation. It- is feared that if
Secretary Hay does not thus take the ini
tiative he will have his attention officially
called to Conger's utterances by one or
more European nations which might char
acterize them as something more,serious
than a mere contretemps.
An interesting fact has come out In con
nection with the discussion of Conger's
article. It is that so far there.have been
.no applications for his position. Commis
sioner Rockhill undoubtedly would like it,
but the president is thought to want him
to continue as chief of the bureau of
American republics after he shall have
discharged his present mission in Peking,
besides, Rockhill is a democrat.. Former
Minister Denby of Indiana is said to be
preparing to apply.
By general consent, Consul General
John Goodnow is in many ways better
fitted to succeed Conger than anybody
else in the country, but it is said the
president regards Goodnow's work at
Shanghai as being of the highest im- |
portance and does not want to interrupt i
A change from Shanghai to Peking
might be at the expense of commercial
and diplomatic work at the former place,
for Goodnow has been very successfully
performing higher duties than those de
volving upon the ordinary consul general.
Whether the president will change his
mind on this point only the future can
disclose. It is likely, however, that
Goodnow will be in the president's mind
for the alace, even if another should
finally be appointed. Now that Conger is
home, the mater will be promptly disposed
of, for it is believed the president desires
! the new minister to start for China al
most as soon as Conger's leave expires. _^
H-- —W. W. Jermane.
Washington Small Talk.
The secretary of the treasury has approved
the compromise of the suit brought against
the Shevliu-Carpenter company, of Minneap
olis, for timber cut in ISSS from lands al
lotted to Anna Cardott for her minor.child,
Cora Cardott. Mr. Shevlin is to pay 11,500
and the costs of the suit and proceedings are
to be dropped. This Is considerably less than
the amount of the original claim, but was
all the government thought could be recov
ered, and It was determined to discontinue
further expensive litigation.
The controller, of the currency has ap
proved the application of F. W. Flanders, W.
F. Powell, G. C. Winchester, E. F. Whitney,
William J. Brown and H. L. Wood for au
thority to organize the First National Bank
of Warren, Minn., with a capital of $25,000.
The controller has approved the Chase Na
tional Bank, of New .York, as reserve agent
for the American National Bank, of Dead
wood, S. D.
Railroad and Warehouse Commis-
sion Will Reinvestigate.
The . Roads -; Petitioning Mnst Ac
knowledge the Jurisdiction
of the Commission.
The Iron ore rate case will be reopened.
The railroad and warehouse commission
gave out this decision this morning, with
the condition, however, . that the roads
must file before June 20 a stipulation, ac
knowledging the jurisdiction of the com
mlsison and a schedule of the rates now
in force. The Eastern Minnesota will be
permitte dto appear as an intervenor.
The substance of the commission's reso
lution follows: .;
Before June 20 the Duluth & Iron Range
and the Duluth, Missabe & Northern roads
must file schedules of rates on Iron ore from
shipping points to the Duluth docks and also
file with the commission an acknowledgement
-cf the commission's jurisdiction in the mat
ter. In that event the commission will hear
what further evidence the companies have to
offer. Upon the filing of such. schedule of
rates• and stipulation the order of the com
mission heretofore made fixing the rates for
the carrying; of - iron ore will be suspended
_util further orders.
The commission also says in addition to
its investigation of the reasonableness of the
lates on iron ere,:it will investigate the rea
sonableness of rates and classifications now
in force on the same roads for. the transpor
tation of . all kinds and classifications of
freight articles between all stations.
It Greatly Delays Work on Minneso
' ta's Pan-American Bnilding.
J. W. Cunningham of St. Paul, returned
this morning from Buffalo, where the Min
nesota board of managers had placed him
in charge. until Superintendent McMullen
He says there is so much delay in pre-
E a ring .the exhibits that the directors
aye closed the grounds to the public until
May 20. They have 8,000 men at work
and the exhibitors also have a large force
putting up ; exhibits, none of which are
yet fully, in place except in the govern
ment buildings. The Minnesota building
has been making . slow progress owing to
difficulty in securing staff/Carpenter work
has been suspended for over a week. It
will be after June 1 before the building is
ready for the placing of the exhibits.
Bister Simeon Killed in an Aeident
at Spokane.
- Spokane, Wash., May 7.—Sister Simeon,
of > Sacred Heart hospital, lies dead from
a runaway . accident, and Sister Gregory
suffers * from . injuries which may prove
fatal. , -They went - driving with a . patient
at i the .* hospital and the, team: ran ■ away.
Company Announces Terms
to the United States,
An Appraisement Board Repress. °c,
ing Both Interests Suggested.
Its Final Recommendations, It Is
Believed. Will Be Influenced
by This Offer.
New York, May 7.— order to remove
the objection raised by the isthmian canal
commission," the Panama Canal company,
with the approval of the Colombian gov
ernment, says the Washington correspond
ent of the Herald, has announced the
terms upon which it will sell the Panama
canal to tbe United States. The letter
containing its roposition was submitted
to Rear Admiral Walker, chairman of the
commission, by Dr. Martinez Silva, Co
lombian minister.
No price is set by the company for its
property and franchise. It suggests the
appointment of appraisers by the
United States and cne by the company,
these two appraisers to select a third —-
the estimate of the board thus formed
to be final. No conditions whatever at
tached to the proposal. It is a clean of
fer, and, it is expected by advocates of the
Panama canal route, will have an impor
tant effect upon the final recommendations j
of the commission.
"The concession, of the company con
tains a provision," Senor Silva said,
"under which.it becomes forfeit tin mo
ment the company enters into negotiations
with a foreign government for the trans
fer of its rights. Before the submission
of the preliminary report, commission did
not have the permission of the Colom
bian government to enter into negotia
tions with the United States, and M.
Hutin, president of the compan y, was
therefore unable to announce the terms
upon which the concession might be sold.
In its preliminary report the commission
referred to his inability to make a propo
sition, and placed stress upon it as an
important objection in the way of the
acquisition by the United States of the
canal. ";' — v.
"The Colombian government, desirous
of removing all obstacles in the way of
American construction of the waterway,
has given permission to the company to
state the terms upon which it is willing
to sell."
The Walker commission estimated the
value of the work done and the property
of the Panama company at about $34,000,
--000. Something, it is believed by the com
pany, should be paid for its franchise
and for the work done solving the various
problems in connection with the construc
tion of the canal. All this is a matter,
however, for the board proposed to be
formed under its proposal in case the '.
United States determines to complete the :
Paaania-—atepway. - ■-'.'.'■ '
Opinion That One Could Be Built for '■
New York, May 7. —The Tribune says i
that it is understood the engineers who ;
have been making test borings and sur
veys for a route for the Nicaragua canal, ;
some of whom have just arrived here from |
Grey town in charge of H. F. Dose, divi- '
sion superintendent; Chief Engineer J.
Embrie Miller, Mr. Reardon, superin- '.
tendent of borings, and about twenty as- i
gistants, the last of the party being ex- i
pected here in about two weeks in the i
steamer Aleae, believe that a canal across ]
Nicaragua costing less than $250,000,000 is
The work would include about 50 miles
of embankment and Gutting on the east
side, the building of a 110-foot dam, and
a rock cutout of 18 miles, from Lake
Nicaragua to the Pacific ocean. The total
length of the route is 181 miles. The •
highest ridge which it would be necessary '
to cut through is slightly more than 300
feet high. Great care has been taken
to avoid sand. I
Big Steamer With Soldiers
and Passengers on Board
Goes Ashore.
Cape Town, May 7. —A big steamer Is
ashore on Robben island, not far from
here. It is surmised that the vessel is
the British steamer Tantallon Castle of
the Castle line with relief troops and
passengers on board.
The Tantallon Castle, of 3,048 tons, left
Southampton April 20, via Madeira April
24 for Table Bay, Cape Colony.
Territory Officials on Hand to Wel
come the Chief Magistrate
to Arizona.
Congress. Ariz., May 7. President Mc-
Kinley and party.spent several hours this
morning visiting the big gold mine here,
which is about seventy miles northwest
of Phoenix. The original itinerary con
templated spending the entire day until
5 o'clock this "afternoon at. Phoenix, but
it was modified to permit the party to
take this little side. trip and inspect the
works of the mine—the largest gold mine
in the territory. .
Justice Street and other. territorial offi
cials came here on a special train to wel
come the president to the territory.
Deming. N. M., May Shortly after
leaving El Paso the president's train
crossed the line into New Mexico and ran
through the grazing section of the terri
tory. It was a hot and dusty ride. The
first stop in the territory' was made at
Deming, where the president was wel
comed by Governor Otero and - his staff.
There was a big crowd and a band at the
station and the president was given a
warm greeting.
W. M. Berger, president of the New
Mexico Press association, met the party
at El Paso and ' accompanied the train
across the territory. The address of wel
come at Deming was : largely devoted to-
New Mexico's claim for statehood. I A
banner above the. train read: "New
Mexico demands statehood."
President McKinley, in his address,
favored the admission of New Mexico to
the Union.
London—According to the correspondent of
the Dally Chronicle, Manager Palewski, apos
tolic delegate in Bombay, will .be 'nominated
delegate for either -Canada or the : United
"Will the cat come back?" "The Cat will not come back; that is, not right away."
The Journal Sustained in an Official Report to
the Indian Bureau.
From The Journal Bureau, Room 48, Tost
Building, Washington, -
Washington, May 7.Special Agent Mc-
Comas, who has been at White Earth in
vestigating various matters, has made a
partial report on what he found in con
nection with cutting of green timber by
dead and down contractors? Officials 'of
the department will not divulge the con
tents of the report, but say that the' per-*
centage of green timber cut is not so
large as that shown by : The Jour
nal's inquiry; yet at the same time it
is higher than has been claimed by the
department in statements that have been
printed in other twin city papers. y; J
The Journal is upheld in this re
port, in that extensive frauds were shown
to have been committed by contractors.
The Indian officials exult over the fact
that the report shows that contractors
have be%n forced to pay a round sum for
green timber illegally cut. This was.also
exploited in The Journal and the
official reports corroborate these state
ments. Other reports are expected soon.
Lots of It Being Invested in the
i "
Large Minneapolis Concern Lends
Over a Million in New
York City.
Special to The Journal.
New York, May Bankers in this "city
declare that money from the interior is
coming in in greater volume than at any
time since the movement began. Cur
rency is being attracted here by the ad
vance in money rates. The banks of
Minneapolis and St. Paul are among the
heaviest contributors.
A letter received to-day from Minne
apolis by a local banker states that a
prominent financial concern in that city
has loaned over $1,000,000 in this city
within the i_st month.
"We can find no mortgages on which
to loan our money," the letter, adds, "so
we have to seek employment for it in New
York. A number of institutions that have
heretofore loaned their available funds
on farm mortgages are now buying stocks
of a gilt-edged character."
The concensus of opinion in banking
circles is that the extraordinary activity
of the stock market is due more to the
volume of money from the west seeking
employment than anything else.
They Pnt a Former Minneapolltan
on the Winning Side..
Special to The Journal. -, ;
New York, Mary 7.—Tips have been re
ceived in this city from Minneapolis " that
have netted speculators here ; nice \ little
pots of .: money. A former, Minneapolis
newspaper man boasts that he got a tip
from there on Northern Pacific by .which
he bagged the handsome sum of $1,430 in
five hours. It is understood that this tip
came from Thomas • Lowry who . beams
upon this town occasionally and always
sends a broad ray of sunshine around a
chosen circle. The lucky man who netted
the $1,430 expected by - Saturday night to
have enough to retire on.
D. C. Thomas Appointed to the South
Dakota Charities Board.
Pierre, S. D., May Governor Herreid
has appointed D. C. Thomas of Watertown
as a member of the state board of chari
ties and corrections in. place *_ of •H. E.
Finnerud, resigned. Mr. Thomas has
been, a resident of Dakota since 1879 and
is one of the leading men of Watertown.
Chicago, May 7.—Officials of "Elgin Na
tional Watch company, whose Chicago offices
are at i' 6 Monroe , street, : declared- they - did
not know anything of the , details concerning
a proposed consolidation of the .different
watch : companies, iThey' admit, that ' similar
rumors, have :been : abroad rat intervals, and
that eventually something: may. com* ' of the
talk. ' ''"^""WiIIMHMIM
..... AGENT Indian Agent.Suth
erland at '. White
-SUTHERLAND Earth has tendered
his , resignation .'to
RESIGNS. the secretary of the
interior to take ef
fect July 1. Sutherland's, Is entirely
voluntary, so it is said,-and 4 is due to an
advancing - stress of : business ~ which has
accumulated at Minnesota agencies, in the
past few years. The resignation will be
accepted and an effort ■ will be made to
have the superintendent of schools made
a bonded officer and put in charge of the
agency. There will undoubtedly be sev
eral candidates to succeed Sutherland.
Special Agent McComas, who has been
at White Earth to make an investigation,
has been ordered to Red Lake reservation
to appraise rights of way for a raiilroad
that is to be run through the northern
part of Beltrami county, near the Lake of
the Woods.
—W. W. Jermane.
Consolidation of Important Interests
in Process of Completion.
Announces Its Plan for Consolida
tion With Consolidated Lake
Superior Company.
Special to The Journal.
New York, May 7.— Officers of the On
tario Lake Superior company and the Con
solidated Lake Superior company, the Can
adian rival to the Morgan steel trust, have
issued the plan for consolidating the two
companies. There will be a meeting of
the stockholders of the Consolidated com
pany in New Haven, Conn., on May 16,
to approve the plan. ->^_BH_QP-i
The plan proposes to increase the capi
tal stock of the Consolidated Lake Superior
company to $117,000,000, of which $35,000,
--000 will be non-cumulative 7 per cent pre
ferred, and $82,000,000 common stock. The
par value of each share of the stock will
be changed from $50 to $100 and the stock
of the Ontario company acquired by giv
ing $125 par value of the new Consoli
dated preferred stock for $100 of Ontario
preferred, and $200 of the new common
stock for $100 of the Ontario common
stock. Dividends of 25 per cent on pre
ferred and 10 per cent on the common
stock of the present Consolidated com
pany will be declared, raising the values
of the present holdings by those amounts,
following which the $50 shares now held
will be exchanged for $100 shares to an
equal amount. Any balance is .to be
used to enlarge the plant - being con
structed ft Sault Ste • Marie, Ontario, to
the capacity of 2,500 tons dally.:
■'•: —"—; ""~~~ : —~—.-
Ore Trains Must Wait for the Open
ing of the Lakes.
Special to The Journal.. . ......
Escanaba, Mich., May 7.—The effects of
the; St. : Claire blockade ' became evident
here this mornig when the North-Western
tied up its ore trains. Traffic amounting
to twenty trains a day, was shut off and
the crews suspended pending the opening
of the lake season. ; The St.- Paul docks
have not shut down.
One ' Hundred Cases ;in the i Village
BUBS Near Sitka.
~. Port Townsend, Wash., May The'
steamer • Cottage City, : arriving . from ; the
north, confirm- .; the * previous ■ reportsV of
smallpox at Sitka and also that the dis
ease ■ is ': rapidly spreading among - the : In
dians. The Indian village is under strict
quarantine * and it -is estimated ] there : are
over 100 cases among 'the \ Indians. "- ■■■"•
.Toronto,'; Ont.," May 7.—The \ Rev. Henry
Scadding, ; D. * D., ' cantab -'•- historian ' T; and
: antiquarian and z one of ; the i best ? known
men in ■ Canada, •is dead, , aged'( 88, V
Repub. Congressional Com
mittee Chm. Criticized.
Hanna's Way of ..Conducting Cam
■■-. paigns to Be Imitated.
Babcock Charged With Having Spent
\ . -Money In This State
Maw York Sun Special Service.
Washington, May 7. —In deposing Repre
sentative Babcock from the chairmanship
of the republican congressional committee
the bosses of the republican party will
take a tighter grip on the machinery of
the committee and hereafter conduct it
along lines differing radically from those
pursued by Babcock. They will endeavor
to put it on a high business plane by the
introduction of, the methods, which Sena
tor Hanna has employed in running the
republican national committee. They will
put an end to indiscriminate collecting of
campaign funds, and will make wider and
more liberal disbursements of money thus
received than have been made under Bab
Last fall he is said to have contributed
to the campaigns of a majority of the
Minnesota members, in spite of the fact
that it was everywhere conceded that not
one of these gentlemen stood in the least
danger of being defeated. The leaders
want to put an end to this sort of thing
and will endeavor to secure a chairman
who will offer a full account of all moneys
received and. expended after each cam
Proceeds Will Be Used to Defray
' Cost of Improvements for
Three Years.
The Minneapolis Street Railway com
pany and the St. Paul City Railway com
pany have filed with the register, of deeds
in Hennepin and Ramsey counties a gen
eral mortgage or Joint bond of $1,000,000
on their Twin City property. - The object
of the bond, as John F. Calderwood, au
ditor of the Twin City Rapid Transit
company, explained, is to raise money
sufficient to take care of general improve
ments for' last year, this year. and 1902.
Improvements now in hand and con
templated, including many new cars and
equipment all along the line," will cost
approximately a million dollars. ./..;;•'
The bond is in favor of the Central
Trust company of New York; is dated
Jan. 1, 1901, bears interest at 5 per cent,
and matures Jan. 1, 1911. The instrument
bears a, $500, revenue stamp.
Police and Coroner of La Crosse
v, V Clash In the Streets.
Special to The Journal.
,"*' La Crosse, Wis., May. 7.—A sensational
fight occurred this afternoon on a: princi
pal T thoroughfare of this city over-the
remains of Peter Klaus 1 of ; Wabasha;
Minn.,' who was drowned in ; front of .' the
city last Thursday. The body was . found
at noon ;by Timothy Jarvis, an old river
man, near Brownsville, Minn. ; Coroner
Manstadt; of this city immediately went
down .after, the; body, which ; was in his
possession when -the boat bearing the re
mains arrived here. _SB_gj_i_ffiß(f
The police had an order from the parents
of the ; boy ]to ; have \ the '. remains delivered
to \ a. certain undertaker. The police offi
cers . drove •' a team, when ': Manstedt took
the horses by the head ' and ■ insisted that
the body be taken to his establishment.
."" Captain Parks took a'% hand and finally
Chief * Byrn arrived. -"; Manstedt;.' who sat
ou the box, had to be taken off by twooffl
vers t before • the >* body could . be removed
from the wagon. The fight was witnessed
by a thousand ;; people :,' in % the business
ilieete.jofltti^cit x^r'>-^rnYi^B^Bß
Various Stories About the Causes of Yesterday's
Rise in Stock—One Has It That Hill Lost
Control to Vanderbilt
N«w_ ; York, May v 7.—Officers of the
Northern; Pacific are reticent about ) the
affairs of the company. James "J. Hill
said , that _he knew ,of no ; reason for the
big ' rise in the stock. He denied that
there was any new deal with other systems
which was responsible for the stock move
ment. -. . • -
The sharp rise in Canadian Pacific has
led to a story that a new traffic arrange
ment *Is 'contemplated between that com
pany and : the Great Northern and North
ern Pacific. -There is believed to be some
foundation for the story, Inasmuch as Mr.
Hill is very influential with the directors
of the Canadian Pacific. There is a desire
on both parts to reach a better -working
arrangement between the several compan
ies, particularly with reference to main
' New York, May 7—W. K. Vanderbilt
wrested the control of Northern Pacific
from J. J. Hill and his friends yesterday.
At least that is the story which'was told
last night, on good authority, in; explana
tion of . the sensational rise of Northern
Pacific shares on the stock exchange. ,
"According to this informant, Hill and a
few of his close friends sold 200,000 shares
of Northern Pacific ■" short in .- the latter
part of last week' and J. P. Morgan, not
liking this when he learned it, aided Mr.
Vanderbilt to catch Mr. Hill and his
friends napping.so to speak, and by quick
work added the control of - Northern Pa
flc to that of the Union Pacific, which Mr.
Vanderbilt secured last week.
In support of this theory it was further
declared that on Friday and "Saturday of
last week certain large European hold
ings of Northern Pacific were acquired by
American interests at a ~5-ice far. above
even the highest quotatioi in; yesterday's
New York market. As both J. P. Morgan
and W. K. Vanderbilt are in or near Paris,
the alleged transaction was promptly
ascribed to them.
According to the same informant Mr.
Hill, when he found that Northern Pacific
had slipped out of his hands, at once made
a desperate effort to buy control of the
Canadian Pacific, and this was said to ac
count for the jump in that stock.
Mellen Skeptical.
Regarding the Vanderbilt story. Presi
dent Mellen of the Northern Pacific,- said
this afternoon: • V
That is the most interesting ' reading I
have, seen for many months. I consider it
about as true as any of the ridiculous storeis
Younger Brothers Will Be Free if the State Par-
don Board Approves—But That Does
L Not Seem Likely.
HrWilil Mnin'n iiiiMto Willi iimiw *
Special to The Journal.
Stillwater, Minn., May 7.—At a regular
meeting of the board of managers of the
state prison to-day unanimous action was
taken in favor of paroling the Younger
boys, now serving life sentences.
Before the parole can be effective all
three members of the state pardon board
must approve it, and the action will be
submitted.to that body as soon as possi
ble. • This is in accordance with the pro
visions of the new parole law, which al
lows parole of life prisoners after about
twenty-four years imprisonment, being
thirty-three years, less time : gained by
good behavior. ; - " .'< ;V'
Paroles are usually granted by the pris
on managers alone, but in the case of life
prisoners unanimous approval of the
board of pardons is also necessary, and
such paroled life prisoners cannot leave
the state.
- The pardon board does not meet. regu
larly until in July, but a special meeting
may be called If the members of the board
consider one necessary. . -«p_^__^_
The resolutions adopted by the board of
prison managers recite that the prisoners,
James Hardin Younger and Thomas Cole
man "lounger, have not served previous
sentences and that there is a'strong and
reasonable probability that they will live
and remain at liberty without violating
Winter Falls Off, but Spring Is Doing Well, Re
ports the Government
New York, May 7.Carefully consoli
dated reports from . the department of ag
riculture's corps" of observers ; make May
1 condition of wheat 91.5 against 95.5 last
month and compared with an ■ average at
this date for five years of 84. April was
wholly favorable for the development of
the ; wheat crop over" the greater - part
of the belt. :~ The report shows little dam
age through insect pests outside of Texas,
Oklahoma and Michigan. . No crop in
twenty years has stood better than the
present one ■in the all-important features
of roots and stools.
Hetty Green's Daughter a Witness in a Suit
S Against a New York Paper.
Mow York Sum Special Service.
v '; New York, May 7.—The Earl of Yarmouth was in the supreme court, where he ha_
had a suit against the Morning Telegraph for $25,000. The case bad been set for trial,
but was not reached. ' On Yarmouth's right sat' Miss Sylvie/Greeri,': daughter of Mrs,
Hetty Green, one of the richest women ,in the 'world,, gayly and fashionably dressed.
Miss'; Green seemed :to be on the best of ; terms > with him, notwithstanding she bad
been subpoenaed to testify against him. _f*_NHßs___&':
■'/■ . She; is" "said; to \ be one of :a ; half dozen; heiresses who have '.been. called to . testify
in substantiation of the newspaper, report that the earl is a fortune hunter, and since
bis: arrival lin this country j has proposed •. marriage unsuccessfully 'to \ heiresses. } Mise
Green "declines to say anything about the matter. until she goes on the ; witness stand.
Yarmouth complains • that .the newspapers accused him of being . bard up and said
that he ; has practically given -, up ; finding \an ;• heiress, and unless . some /such; lucky
accident as J that which befell the Duke of Manchester brightens up his prospects 1 it la
not too much to expect to find him In a cab driver's home before 10ng...
'■.:. Yarmouth says ,be is an actor by : profession \ and. that r the publication has brought
bim ridicule and scandal
which have been going : the : rounds i lately. ; I
was with , Mr. Hill ,until I. left New York, at'
the end of last week, and-rl, firmly: believe
that he had not at that -. time the : slilghtest'
idea of disposing of a dollar's worth of his
Northern ; Pacific holdings. ; I do not: believe :
he has . changed his j mind since. Further
more, I do not believe Mr. Hill Is dealing
with the Northern Pacific. stocks for specu
lative purposes or dealing in shorts. He is
taking a. personal Interest in the . road . and
Its operations, and such stories as this one,
I believe, are without foundation.
On his reported resignation. Mr. Melt
len smiled and said, "I have not resigned.
When I * do,; I will undoubtedly take = tha
nespapers ' into -my confidence."
to retire: stock
Common Stock: to Be Left Free to
Enjoy All :. Net _ Receipts.
Special to The Journal.
': New York, May 7.—lt is announced lon
good authority that 1 the $75,000,000 4 per
cent preferred stock of the Northern Pa
cific railroad is to be retired at 110 in
3 per cent bonds, thus leaving the com
mon stock free to enjoy all of the net,
receipts. Persons close to; the : manage- .'
ment declare that the company, can easily -
pay 6 per cent on the common'stock, and,
that it will; do so under its close-work- £
ing arrangement with the Burlington and
Great Northern railroads. The. Northern
Pacific - has the right to retire the : pre
ferred stock at $100 a share ; in cash, but
it would be impracticable. to make a cash
transaction of it, and it is calculated that
the offer of 3% per cent bonds at 110 will ~
prove attractive to shareholders, and that
the transaction will go through without
a hitch., i%3S&&
This plan was outlined several months
ago, and it was foreknowledge of this
that led some to predict that Northern
Pacific common would go to $125 a share. - ';•
That, prediction was more than realized
yesterday, and the preferred shares also .
enjoyed a good rise fon the . notion that •;
a 3% per cent bond will sell close to par,-.-"•
making the present preferred stock worth
perhaps 105 or 106.
Besides the 'saving of nearly ; one-half
of . 1 per cent on the bonds to be issued
in exchange for the preferred stock, offi
cials of 7 the Northern Pacific expect^ to .
save from" 1 to 2 per. cent additional'by
the . operation of the - Burlington, thereby'
yielding :■ net earnings for Northern . Pa
cific of 7 or 8 per cent even in duller
times than the present. . -:;v
the law, and that their release will not be
incompatible with the welfare of society;
that, they have served for more than twen
ty-five years and have excellent records aa
prisoners; that the board of managers be
lieves a parole should be granted and re
spectfully requests the state board of par
dons to indorse this action.
The applications of the Youngers ' show
that 'Jim" is 53 years of age and ''Cole'"
K. Before the raid at Northfleld they were
farmers and traders inMissouri and Texas,
They say they have reformed and j are de
sirous *of proving their ability and pur
pose to live law-abiding lives. They are
growing old and desire to prove their.fit
ness to be trusted with liberty and give
proof that they have fully reformed before
it is too late. Society, they urge, will not
be benefited by longer Incarceration.
The application and recommendation of
the board were at once forwarded to the
state pardon board.
Chances Are Slim.
The chances for securing approval of
the board of pardons are slim. Chief
Justice Start is likely to raise the con
stitutional question on which the gover
nor held up the bill, that the power to •
parole is not an exercise of the pardoning
power, and is therefore an extra judicial
duty that cannot be imposed on the chief
The spring wheat crop has been sewn un
der highly favorable conditions, says the
report, and while seeding in the extreme,
north is not ' quite completed, enough; ia
known to make it apparent that the acre-*
age is fully equal to that sown last year.
There has been' an abundance of early
moisture over '■ the whole \ belt . except in a
limited portion of South Dakota. • The
condition : May 1 of wheat by. states. in
cluded: ;- Ohio, 88; - Kentucky, ; 85; : Michi
gan, 83; • New York, Pennsylvania" and ; In-*
diana, 95; ' Illinois, : 96; :. Kansas, 100; Ne
braska, 99;; California, 90.

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