Morning Oregonian. (Portland, Or.) 1861-1937, January 24, 1906, Image 2

Morning Oregonian., January 24, 1906, Page 2, Image 2

Image provided by: University of Oregon Libraries; Eugene, OR

About Morning Oregonian. (Portland, Or.) 1861-1937 | View Entire Issue (Jan. 24, 1906)

Prev Page of 16 Next Prev Issue Next Text PDF JP2 (7.6 MB) Clip/Print Image

Return to Top

Prev Page of 16 Next Prev Issue Next

Newspaper Page TextTHE MORNING OREGOXIAX, WEDNESDAY, JANUARY 24, 1906. "HILL GUTS LOOSE PI WW IN Jockeying to Make Him Sell Stock in Two North- ' ern Roads. BIG BONANZA AT STAKE Sale of Immensely Valuable Ore l,ano Delayed Till His Rival Cannot Get Share Purpose Almost Accomplished. XBW YORK, Jan. 23. (Special.) It has been one of the bitterest pills that J. J. Hill has been forced to swallow In the past few years that E. H. Harrlman has reaped a great deal of the benefit of much of the masterful genius that the former has applied to the upbuilding, through many long years of patient toll, of the Great Northern and Northern Pacific railroads. It has all come about In this fashion. At the time of the Northern Pacific panic In "Wall street, in the lat ter part of 1901, Harrlman attempted to buy control of the Northern Pacific road in the market, and he came so near to doing it that many people still believe that it was more by good fortune than anything 1fc that HUVand Morgan were able to hold the road against their great rival. Harrlman Unwelcome Partner. After HIU found that he was secure in the control of the road, even If by only a comparatively small margin, he and Morgan set about forming the Northern Securities Company. Into which they put the control of the both the Great North ern and the Northern Pacific, which to gether carried with thorn the control of the Chicago, Burlington & Qulncy. Har rlman, seeing that lie was defeated In Ills first attempt, deposited his Northern Pa cific stock, which he controlled through the Union Pacific, and received Northern Securities stock in Its place. Since that great corporation, which was destined to have but a short life for the purposes for which It was originally designed, was formed. Its assets have grown In value to a fabulous sum. "When the Union Pa cific on the distribution of the assets of the Northern Securities Company, re ceived Us share. It got something of enor mous value. JVVhereas In 1P0L It had owned almost control of the Northern Pacific, It got back a huge block of the stock of the Great Northern and another huge block of the stock of the Northern Pacific. Hill's Bonanza Not for Him. Herein lies the trouble. Both of the roads, merely as roads, are doing im mensely well. The earnings arc good, and under the careful management of J. J. Hill, they are constantly growing In value. But at the xame time, it turns out that the Great Northern owns Iron ore lands of fabulous value. They arc esti mated by Hill to contain 500,000.000 tons of ore, and by the experts of the United States Steel Corporation, C00.000.000. Charles M. Schwab, who was formerly the head of the steel corporation, has said that iron ore is worth $1 a ton in the mine, so that on this basis the ore lands of the Great Northern are worth from $300,000,000 to $500,000,000. The were ac quired, owing to the foresight of Hill, by the Great Northern for a compara tively small sum. Recently the Union Pacific, which Har rlman controls, owned 156,000 shares of Great Northern and 242,000 shares of AUTHOR WHO FAILKI) TO MAKE GOOD IN HIS PANAMA CHARGES. ' V Poultaer Bljceloir. Poultney Blgelow. who refused to Slve the Senate committee last week the Information on which he based his charges of mismanagement in Panama. Canal operations, has achieved ome note as a traveler "and historian. He Is outspoken In his writings and lectures. Four years ago he wrote a caustic criticism of the United States Army, which brought many protests Irom Army circles. Northern Pacific Accordingly, if the Hill stocks rise In value, the Harrlman road would get the benefit Hill's rival would .be reaping -where Hill alone had sowed. In the past few months Wall street has witnessed some wonderful jockeying by these two great interests. When there was Tumor to the effect that HIU was going to sell his ore land and that his stockholders were going to get the bene ' fit of the deal by the issue of -stock in some way, the Harrlman interest would hold on to their Hill stocks as they never had before. Then it would bo said that the deal for the land was all off and that there had never been much to ft anyway, because the price that Hill want ed was far, higher than the Steel Trust would ever be willing to offer. At such time there "would be some mysterious sell ing of the Hill stocks. Perhaps the Hill Interests were not unwilling to have the Harrlman people believe that the rumors of "no deal" were, right. This merry .same has gone on now for a long time, and the question of Interest Is. "Who has won in the struggle of the financial giants.? Tiring Out His Enemy. Perhaps history will say that It has been Harrlman and the powerful bank ing Interests behind fclm: perhaps it will find time to note that Hill and Morgan are usually -well able to take care of themselves. It will be found in the near future, -when the facts all come to light, that the Harrlman peo ple have tired of the struggle, have seen fit to take the enormous profit amounting to more than $5,030,000 that they have on the Great Northern and Northern Pacific stocks, and have gradually sold out the bulk, of their holdings. Hill has been getting back his stocks. He has been forced to pay high prices for them, but almost with out any doubt they are- "well worth what they have brought. The assets that they represent are of enormous value. Hill has tried to gather them In at lower levels, but he was unsuc cessful. On this one point he has been forced to surrender to the Harrlman people, but at the same time it i very doubtful If .they have gotten anything like what the stocks were worth under the most favorable circumstances, be cause the oro land has not yet been turned into quick assets. This Is where Hill has shown his patience and his skill in handling such RECEIVES LARGEST AWARD FROM HERO FUND. Mi Maude Tilun. Maude Titus, the 18-year-old New ark. N. J., schoolgirl who on last Wednesday was awarded $2500 from th Carnegie hero fund, receives this. th largest award yet made from th fund. In recognition of her act In saving Miss Laura V. Relfenyder In a yachting accident in Casco Bay. Me., in October last. Miss Tltuc seized Miss Helfsnyder, who was un able to swim. and. although she sank several times with her burden, clung to the girl and reached shore with her. a matter. When the Harrlman interest in the stocks of the companies that he controls Is sold out or practically sold out, he will be willing to carry through the deal with the Steel Cor poration. Who knows that the high price that he has been demanding for the ore has been any more than a blind to weary his great rival, who, be lieving that a sale will not be effected in a reasonable time, has sold out?" "Why," said a man of wide experi ence in such things the other day, "Hill knows what he Is doing. If he finds that the Steel Corporation (which, by the way, is the only possible buyer) cannot or will not pay his price, with Harrlman out of the. way so that he will not receive the benefit Hill will be quite willing to sell the ore land at a reasonable figure, and the Steel Cor poration will be glad to get it because it would like to have It put safely away where no one like John W. Gates, who is always looking about for bar gains of this kind, will be able to get at It. That seems to be the secret of tho thing. Hill has, or has Just about, ac complished his design. He has been able to buy back his stocks before he made a distribution of the dormant assets. Harrlman Needs Cash for "War. And after all, perhaps Harrlman would have had patience enough to hold on longer still, but it Ui to be remem bered that not long ago he said that this country was entering on an era of competitive railroad building. In such a contest, and it should be remem bered also that Hill is his principal rival, it Is money that counts. He has therefore been willing to part with some of his Hill stocks In order to get the cash, with which to carry on this contest which lie himself has told us would be the feature of the next few years. He is husbanding his resources and getting his forces in order for the battle. And, well he might. The West ern Pacific, the new Gould project, is building from Denver west to the Coast. Moffat t of tho Denver &. North western, threatens to build to Portland if Harrlman is too aggressive in his territory. The St. Paul is building to the Coast, and will be one of the keen est competitors of the Union Pacific. The Burlington and the Union Pacific are in conflict at every point where they come together. Harrlman himself is giving Hill trouble in Oregon and will become more and more aggressive in the struggle for the trade of the ports of the North Pacific Hill has owned tho Northwest, but Harrlman Is going to dispute the dominance with him. Assessors' Valuations Indorsed. OLYMPIA, Wash., Jan. 23.- (Special.) The Tax Commission declares, in a statement Issued today, that the in crease in valuations of railroad prop erties agreed upon by the Assessors' convention will not be found dispropor tionate with other properties, when care is taken to see that everything that should he taxed is placed upon the rolls. The commission estimates that the increase In the tax revenues of the several counties will be 35 per cent next year, but it advises that this should not be taken as an invitation for waste and extravagance, hut should be fo'llowed by a reduction of tax levy or municipal debt. Sues for Back Salarr,. TILLAMOOK. Or.. Jan. 23. (Special.) Laxatdre Catbartie Hood's Pills After-dinner pi Hi wtrely fremtt t4 pletuuats easy to take a4 taty eptntt. Me. Peptiron Pills I res lee te blood, teed tfea wh-tm urfltnfe. tM u sieaen, mw ors nww tep. c or H. U. 1. tM US.: Save One Hundred Dollars We are now offering a few pianos at a reduction of about $100 on each in strument! The pianos are all brand new; are new-style cases and are in perfect con dition. . The list is composed of instruments known world wide for superior merit. This is the list: 1 Mason 6 Hamlin 2 Everetts 1 Hardman 2 Smith S Barnes 1 Wellington 1 Willard 1 Conover 2 Fischers Sale now open. Particular attention paid to out-of-town trade.- Write or telephone. Allen6 Gilbert Ramaker Co. SIXTH AND MORRISON The Oldest, Largest and j Strongest Piano and Organ House in the Pacific Northwest, A suit has been filed In the CIrcul Court by R. Robinson against the R Robinson Cheese Company, in which ho. claims 1245.75 for back salary and commission. DrHri r nail OiMM4m tor HeKl II Pond's Extracts 1 Antiseptic Crezum j al U coollsr. fcf tUnt.toothlec tndoofltiii- ml iacfortbe tlia ud iBocmit Btmbrwc. V HI In all acertltte iSectienr. celdi. ht4- fir cie. sad for etc tfter ihtrint it li tke ill fll imc4r ptfcieellence. ill la Jan at 25c 4 90c III ro ,ALS r 111 M nUT-CIASS DEAURS ZVE&YWHXU jj Store Opens at S A. M. THE OLDS, WORTMAN & KING STORE Store Closes Daily at 6 P. M. The "Different Store" Fifth, Sixth and Washington Streets TWENTY-EIGHTH ANNUAL CLEARANCE SALES! Absolutely Every Article in the House (Except Contract Goods) Is Substantially Reduced But 100 More Hours of Active Shopping Remain BEFORE THE ECONOMY OPPORTUNITIES THAT GO HAND IN HAND WITH THE EVENTFUL 28TH ANNUAL CLEARANCE SALE SHALL HAVE PASSED INTO HISTORY. TEN MORE DAYS OP STRENUOUS BUT CAREFUL SHOPPING REMAIN ERE THE SWEEPING REDUCTIONS OF CLEARANCE END. "A WORD TO THE WISE," ETC. EXCEPTIONAL SPECIAL BARGAIN AT TRACTIONS ARE PLANNED FOR TODAY READY ! We Set the Bargain Pota'Boiling Early Today! Extra Special ! 8 toll A.M. Only IN THE SILK AND DRESS GOODS SALONS Fifth-Street Annex First Floor. 24-INCH BLACK SILK CREPE DE CHINE 83c YARD. The 1.25 Quality Detail. 24-inch nil pure silk Black Crepe do Chine, very rich dye and un equalled value at the repilar price of $1.25 the yard; special, S to 11 A. M. todar onlv, yard 83 BLACK 1.25 TAFFETAS 83c YARD. Here's a very exceptional opportunity for patrons of the silk store to obtain a handsome and very swagger black silk gown and lining at a substantial saving 27-inch all pure silk black Taffeta, the best wearing Taffeta made, bought direct from the makers. No other local retail store can approach this value at our regular price of $1.25 the yard. Special today, S to 11 A. M. only, at, yard 83 50-card fancy metal Dress But tons, match any color. Special ,.10c Black silk luster finish Thread, for hand or macnlnc. Special 8c 65c set fancy gold mounted Side an 3 Back Combs Special 30c $1.00 plain white Side and Back Combs. Special .23c 10c Cabinet Box assorted "Wire Hair Pins. Special Oc loc can Violet Talcum Powder. Special Oc 10c bar clear Transparent Gly ccrlno. Toilet Soajv Special j. .6c 30c combination Felt Shoe Brush. Polisher and can Polish. Spec... 10c WEDNESDAY BARGAINS FOR HOUSEWIVES Third Floor. A Special Sale of Lamps, Glassware and China LAMPS. Hanging Lamps, with deeorated globe and vase to match. .Rochester 60-candIe light burner, spring extension; $5 value, special at $3.50 Hall Lamp?, with colored globes; our $1.75 value, special at 1.25 Our $2.25 value, special at $1.50 Onr $2.05 value, special at $1.90 Our $3.75 value, special at $2.50 Big bargains in Decorated Stand Lamps, with Globes lo match. One-Third off regular prices. GLASSWARE. Thin Blown Table Tumblers; our 60c value, spe cial at, the dozen 4Sd Thin Blown Tumblers, banded; our 70c value, special at, the dozen 56 Thin Blown Tumblers, engraved; our $1.00 value, special at, the dozen 75i Fruit Saucers, faucy designs; our 35c value, spe cial at, the dozen..... 24 Berry Bowl to match, S-inch size; our 25c value, special at, each 15j Berry Sets, bowl with 6 individual saucers; our 43c value, special at, set of 7 pieces 27 J DINNER SETS Decorated. Austrian China Dinner Sets 100 pieces in set Our $20.00 value, special at S15.00 Our $22.00 value, special sale price $16.00 Haviland Decorated China Dinner Sets 100-piece sets; our $29.50 value, special 24.00 100-piece Sets; our $52.00 value, spec. $37.00 Handsome Decorated China Dinner Sets with rich green and gold border patterns, solid gold handles and knobs 64-piece sets; our $7S.0O value, special $58.50 117 piece sets; our $144 value, special $108 Decorated China Dinner Sets, with heavy gold lace border pattern, solid gold handles and knobs 112-piece sets; our $110 value, special $83.50 117-piecc sets; our $115 value, special $86.50 Domestic Economies THAT AWAIT TODAY'S SHOPPERS IN THE LINEN SHOPS AND "DOMESTIC CORNER' ' First Floor. Satin Damask Tablecloths. A lot of about 50 fine Satin Damask Table cloths, slightly soiled; no napkins to match Size 2x2 yards; regular value $4.25, clearance special $3.45 Size 2x2!2 yards; regular value $5.50, clearance special $4.80 Size 2x2V( yards; regular value $7.50, clearance special v $6.40 Size 2x2 V vards; resilar value $S.50, clearance special 1 $7.25 Size 2x3 vards; regular value $9.00, clearance special" .'...$7.00 Size 2x3 yards; regular value $12.50. clearance special $9.25 Size.2x3Vo yards; regular value $10.50, clearance special. .. .$8.00 15c Doilies 5c A lot of all linen tied fringed Doilies; regular value 15c, clearance special, each 5 15c and 18c Toweling for 11c Linen check Toweling, assorted size checks; regular values 15c and ISc, clearance special, the yard 11 Sheets 73c Best qualitj' hemstitched Sheets, size SlxOO, clearance special, each 73p Sheets 49c Large double bed Sheets, good, hoavy quality 49 Sheets 42c Single bed Sheets, good quality; clearance special, 42 Scotch Madras 18c Imported Scotch Madras, light ground, with neat figures and stripes; clearance special, the yard 18 Bathrobe Flannels 33c Protty iev Bathrobe Flannels; clearance spe cial, the yard 33 Kimono and Wrapper Flannels 12Vc New fleece down Kimono and Wrapper Flannels; clearance special, the yard 12V2? White Embroidered Flannels A line of white embroidered Flannels, hemstitched and scalloped edges; clearance special, the yard, 50c, G3c, S5c, $1.05 and $1.48 Timely Bar gains in . . . Women's Attire "Putt's Pills Cure AH Liver ills. Twenty Years Proof. Tutt's Liver Pills keep the bow els in natural motion and cleanse the system of all impurities An absolute cure for sickheadache, dyspepsia, sour stomach, con stipation and kindred diseases. "Can't do without them" R. P. Smith, Chilssburg, Va. writes I don't know how I could do without them. I have had Liver disease forever twenty years. Am now entirely cured. Tutt's Liver Pills 1 GRAND SALOKS-Second Floor. $5.00 AND S6.00 SILK FETTICOATS $3.95. AND THE BEST VALUES OF MANY A DAY. There is a story, of course, back of such values. But what woman cares to hear of that. The interest ing part of it is the beauty and quality of the petticoats them selves. Stiff taffetas that fairly rustle at a breath. As one clever woman puts jt, "They are rustlers, and that's what a woman longs for, from a silk petticoat." And they are pretty, mostly in dark, rich colors and black. The lighter shades will do charmingly for drop skirts for thin frocks. All of the petti coats are a good deal ruffled or plaited in some way at the foot and accordion plaited. As a new lot of petticoats to sell at regular price, they'd do justice to maker's work. As a bargain they are wonderful; $5.00 and $6.00 values special today at $3.95. But it isn't all silk petticoats. Along with them are RAINCOATS AND WALKING- SKIRTS. Ample in all these lots for today's selling after that it's hard to say when such values may be duplicated. $12.50, ?16.50, $20.00 RAINCOATS $7.95; Stylish, well-made Raincoats, the product of America's best makers of rainproof garments popular models, including the loose, half fitted and Empire effects, in cravenetted materials; tans, grays and attractive mixtures ; to close today regular $12.50, $16.50 and $20.00 'values, special for $7.95 ?6.50 AND ?8.50 WALKING SKIRTS $3.98. Popular round lengths, trim, jaunty styles, bestwearing materials, embracing cheviots, mohairs, figured and plain, and mannish mixed, twecdish stuffs,plain colors and mixtures; made up in best work manship; $6.50 and $8.50 values, special at $3.98 iQnfi Advance Styles Wom vvFvl en's Tailored Suits Smart Eton and Jacket styles, brightest and newest thoughts of recog- Jiized style creators in leading Eastern fashion centers. Shown first, as usual, in Portland, by Olds, Wortman & King, and at Clearance Sale prices range from. I $15.00 to $42.50 A TEMPTING POTPOURRI OF BARGAINS IN MILLINERY SALONS A lot of un trimmed Felt Shapes, values to $1.50, special at 25j Odd lot of children's hats, values up to $1.00, special at 10 Fancy feathers, pompons, wings, quills, etc.; values up to 25c, special at 5 Ornaments and buckles, black jet and gilt; valiip un ro 50c. J"l Of Braids, S to 12-yard pieces; values to $1.00, special at 25 Balance of Frames at, each 10 30c pint battle pure Witch Hazel. Special 20c 20c aluminum Soap Box. with cake flne Toilet Soap. Special 10c COc box odd lines Writing: Paper. Special 10c 25c box linen cloth finish Writing; Paper. Special 15c 25c pack best enamel-back Playing: Cards. Special Odd line Ink Writing: Tablets, note Fizc. Special 4c 5c fancy Crepe Shelf Paper. Special 3c $5 Royal Worces ter "Bon-ton" Corsets. Special today .73.67 Great Sale of Men's furnishings In "The HaberdasherieM Annex, Near Sixth-St. Entrance, First Floor. Rare and exceptional bargains forV mnCfMilinif v in incrtranr omhraita. correct and tasteful dr.ess. MEN'S 50c TIES 35c. A line of Men's Silk Four-in-Hands, 2'n inches wide; best 50c value, spe cial at 35c, or three for $1.00 10c ELASTIC ARM BANDS 2y2c. Round, easy elastic Arm Bauds; regular value 10c, special, two pairs 5 MEN'S S3.75, $4.50 SWEATERS $1.89. A small line of Men's Sweaters, fancy weave and color; regular values $3.75 and $4.50, special, each 1.89 MEN'S 10c HOSE 6c. A line of heavy gray mixed cotton Hose, seamless; regular value 10c, special the pair MEN'S $1.50 UNDERWEAR 1.15. Four numbers in Cooper's Spring weight, Derby ribbed, worsted, high grade Underwear, French neck, finished drawers, fawn color; regular value $1.50, special, the garment $1.15 MEN'S $1.50 UNDERWEAR $1.1.5. Cooper's Spring weight fine mercerized Shirts and Drawers; regular value $1.50, special, the garment 1.15 MEN'S $1.50 UNDERWEAR $1.15. Spring weight fine silver gray Cashmere Underwear; regular value $1.50, special, the garment 1.15 MEN'S $1.50 UNDERWEAR $1.15. Medium weight worsted Underwear, in silver gray; regular value $1.50, special, the garment 1.15 Today's Remarkable Lace Sale What 'Tis Comprised of FIRST FLOOR. 85c CLUNY IiACES FOR ISc. Black Cluny Edges and Insertions, from 3 to 6 inches wide: values to 65c. Special at, the yard 18c Sue VEN'ISE BAA'DS AND GALLOONS ISc Venise Lace Bands and Galloons, in white, cream and ecru: values to Sac. Special at; the yard 18c FID HE FAGOTING FOR 10c. Flbro Fagotingr. from 1 to 2 Inches in width, suitable trimming: for waists and dresses, in white, oys ter and the new onion shades. Spe cial at, the yar loc BLACK CHAN'TILLY EDGES AND INSERTIONS. Some of the edges wide enough for fiouncings. Edges are from to 12 inchc3 in width, with insertions to match J1.50 value. Special at, the, yard.. 73c $1.23 value. Special at. the yard. .63c $1.0.0 vatuc. Special at. the yard..50c 73c value. Special at, the yard....3Sc 50c value. Special at. thp yard.... 25c :5c value. Special at, the yard..!2c ISc value. Special at, the yard 9c