Saint Paul weekly Minnesotian. [volume] (Saint Paul, Minn.) 1858-1859, 1859-08-13

, Dll. III treasury. ..............r So II
Supplies, merchandise, servicable
/ property and cash, advanced by
individual members of the board
and others at different times-to-
. an anouhI S2,Sol W
Offset by credit on assessments
and appropriations from reserved
STOCKS 2,S51 "
Total expenditure for the year. :. .$3,713 81
These means have been disbursed in tn,
purchase and shipment of supplies, princi
pally from this city to the points of the
Company in the Territory to the paying O
; outstanding accounts, expense of surveying
plating and entry of lands; fitting out and
travelling expenses of exploring expeditions
in building and other improvements on the
towns, &C., &c.
The expedition last sent out by this Com
pany is an important one, ,fand cannot claim
too much attention from us here
1t will be remembered that the great trea
ty with the Yanktons which ceded to Gov
ernment more than 100000 acres lying
west OF the Sioux, and bounded on the south
ard west by the Missouri river, including the
Nermlllion, the James, Wanansi, and Nawi
"a rivers, was ratified by Congress last WIN
ter, and under the auspices of that treaty the
Dakota Land Company have this summer eX.
tended their operations on to the Missouri
and its tributaries embraced in the new re.
gion.
The expedition in charge of Messrs Braw-
ley Il Smith, which left this city in June,
have, ere this, planted the flag of tho Dakota
Land Company on such valuable sites as NAV
be found from the mouth of the Sioux to Old
Fort Lookout on the Missouri: and on the
James, Nermillion and Wanansi rivers thcv
have sounded for the points to which steam
ers may practically run and there, also,
commenced the nucleus of towns. Their
movements will te seconded bv the more
tlmd adventures, and the way being paved,
a lively emigration will follow up This party
went down the river from Sioux Falls City by
boat, in the latter part of June, on their way
to the Upper Missouri. Mr.. Brawlcy, writing
to the Directors here from Sioux City, says !:
We landed at this place this morning.
The Big Sioux is navigable for steamers
Oh medium SIZE, at dny stage Of ra-
ter; and handsomer country l never wish
to look upon"
There are more than two thousand miles of
naylSablc waters bordering and within the
ceded portion of Dakota, and this company
will have already secured the most desirable
centres for trade and commerce and govern
mental organizations on all those rivers. The
question Of adding to our land entsrprize a
system of navigation, will of necessity force
itself upon the new administration of this
company, and its importance is worthy of
their consideration.
| Congress, at its next session, will grant to
Dakota permanent territorial organization.
What immediate change there will be in the
apparent destines of the company, is Il sub
Jcct stockholders may do well to reflect up
on; and for the company to be prepared
thoroughly to take the fortune of that event,
Is what should at present be agitatcd.
There are at present about $50 stockhold-
ers n this company 40 or so residents of the
| territory, as many or more are in this city
and throughout the State, while VIC have rep
resentatives in half the States in the Union.
| Little or no attention has been paid to sus-
tanning the credit of our stocks in this or any
other maket. Each individual of the commu-
nIty has liked his own valuation upon them.
The company have not undertaken to correct
| them by sham sales, nor by glaring cxplana-
| tory articles.
Quietly, cautiously, yet steadily and sue
| cessfully, the aoorks of the company have been
| forwarded, satisfied that when the proper time
should arrive, our stocks would command a
| proper market value.
The par value of shares, as originally fixed
upon the face of the certificate, is 500, which
sum was used simply to represent such part
OF the capital stock as was regulated by the
charter The figures upon the face of the
certificate, therefore, cannot serve you cor
rectly in Judging of their real value. Origi-
naly it was provided to issue 1000 shares at
500 each, making the capital stock $780,
600, as specified; but after creating an ample
treasury for the first and second years opera
tons, it was found that the stocks issued
were quite iavorably distributed, and as the
number did not reach 1900, the further issue
of shares beyond that number was by resolu-
ton prohibited This act virtually nearly
4, doubled the value of the shares out, so that
their par value might quite properly at that
time been changed from 500 to 5000. But
we are to judge of their real value-from some
given valuation that may be placed upon the
property held and owned by the company,
and We shall count their advance, which is
the stockholders interest, from the bearing of
natural causes in favor of the enterprise, and
from the means within the company of ma
king their property most valuable | have
|
cupicd by the company, and it will at least be
granted that they have not located upon Door
sites, if there were good ones, for, being the
pioneers, they had the first selections to make
There are six towns paid for Five of those
towns are county seats under orderly and cf-
fect;vc organization. For a single one of the
number the company would refuse 5000, 900.
With the additional cost of $3.50 per acre.
including expense of extra surveys, plotting
and entry, we may add ten desirable points,
containing not less than 900 acres, which, in
the aggregate, will be estimated at higher
value than those already entered
There are but 900 shares issued, leaving
reserved fund of 800 shares. Ifa division of
the property of the Company were to be made
at this time, each share would be entitled to
\ l6 lots (to which title could he given) and the
pro rata portion of all the other property of
the company, alone amounting to not less than
| 500 per share. Then still there would be a
basis of the ten towns not yet entered, but Sc
cured to the company by possession and oc-
! cupancy. .,......r.. ....... -..... -........
1t is the policy Of the company to grant
lands to actual settlers at minimum prices !;
and to render substantial aid to all enterprises
that may promise good to Southwestern Min
nesota and Dakota. Nothing as yet has been
put in market by the company, butany wish
ing to establish themselves on their towns,
have only to call at the office of the company
at ST. Paul, or to agents in the territory, when
liberal inducements will always be held out.
| Gentlemen, you have heard the report Of