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About Morning Oregonian. (Portland, Or.) 1861-1937 | View This Issue
THE MORNING OREGOXIAX, WEDNESDAY, JANUARY 24, 1906.
"HILL GUTS LOOSE
Jockeying to Make Him Sell
Stock in Two North- '
BIG BONANZA AT STAKE
Sale of Immensely Valuable Ore
l,ano Delayed Till His Rival
Cannot Get Share Purpose
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
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
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
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
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
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
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
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
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
Sues for Back Salarr,.
TILLAMOOK. Or.. Jan. 23. (Special.)
After-dinner pi Hi wtrely fremtt t4
pletuuats easy to take a4 taty eptntt. Me.
I res lee te blood, teed tfea wh-tm urfltnfe. tM
u sieaen, mw ors nww tep. c or H.
U. 1. tM US.:
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
The list is composed of
instruments known world
wide for superior merit.
This is the list:
1 Mason 6 Hamlin
2 Smith S Barnes
Sale now open.
Particular attention paid
to out-of-town trade.-
Write or telephone.
SIXTH AND MORRISON
The Oldest, Largest and j
Strongest Piano and Organ
House in the Pacific
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
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
at S A. M.
THE OLDS, WORTMAN & KING STORE
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
metal Dress But
tons, match any
color. Special ,.10c
Black silk luster
finish Thread, for
hand or macnlnc.
65c set fancy gold
an 3 Back Combs
$1.00 plain white
Side and Back
10c Cabinet Box
10c bar clear
Soajv Special j.
Felt Shoe Brush.
Polisher and can
Polish. Spec... 10c
WEDNESDAY BARGAINS FOR HOUSEWIVES Third Floor.
A Special Sale of Lamps, Glassware and China
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.
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
112-piece sets; our $110 value, special $83.50
117-piecc sets; our $115 value, special $86.50
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
Size 2x2!2 yards; regular value $5.50, clearance
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
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
gains in . . .
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
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
20c aluminum Soap
Box. with cake flne
COc box odd
25c box linen
25c pack best
Odd line Ink
$5 Royal Worces
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
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
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
Some of the edges wide enough for
fiouncings. Edges are from to 12
inchc3 in width, with insertions to
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