Though the Burlington did not parallel the Great Northern or the Northern Pacific, it would give them a powerful railroad in the central West. Harriman was the first to approach the Burlington's aging chieftain, the irascible Charles Elliott Perkins. The price for control of the Burlington, as set by Perkins, was $200 a share, more than Harriman was willing to pay. Hill, however, met the price, and control of the Burlington was divided equally at about 48.5 percent each between the Great Northern and the Northern Pacific. Not to be outdone, Harriman now came up with a crafty plan: Buy a controlling interest in the Northern Pacific and use its power on the Burlington to place friendly directors upon its board. On May 3, 1901, Harriman began his stock raid which would become known as the Northern Pacific Corner. By the end of the day he was short just 40,000 shares of common stock. Harriman placed an order to cover this, but was overridden by his broker, Jacob Schiff, of Kuhn, Loeb & Co. Hill, on the other hand, reached the vacationing Morgan in Italy and managed to place an order for 150,000 shares of common stock. Though Harriman might be able to control the preferred stock, Hill knew the company bylaws allowed for the holders of the common stock to vote to retire the preferred. In three days, however, the Harriman-Hill imbroglio managed to wreak havoc on the stock market. Northern Pacific stock was quoted at $150 a share on May 6, and is reported to have traded as much as $1,000 a share behind the scenes. Harriman and Hill now worked to settle the issue for brokers to avoid panic. Hill, for his part, attempted to avoid future stock raids by placing his holdings in the Northern Securities Company, a move which would be undone by the Supreme Court in 1904 under the auspices of the Sherman Anti-Trust Act. Harriman was not immune either; he was forced to break up his holdings in the Union Pacific and the Southern Pacific Railroad a few years later.