Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1866-04-21
NORTHERN PACIFIC RAILROAD.

recently been reorganized. Ex-Governor
Smith of Vermont, manager of the Yer
and Canada and Vermont Central
lines, is President. Associated with him
are some Of the ablest railroad managers
of New Ensland-the Hon. Onslow
Stearns, President Of the Northern New
General Stark, Manager of
the Boston and Lowell; the Hon. E. S.
President Of the new Boston and
Liverpool Steamship Company; B. P.
Cheney, Esq, of Wells, Fargo S Co., and
other gentlemen of New York City and
the West, who have come forward to in
augurate and prosecute the grand enter
prise. In addition to the liberal grant Of
public lands donate6to this company by
Congress, two years ago, a bill has passed
the House Of Representatves-and will
pass the Senate and receive Executive
sanction-gransing, for the purpose of aid
ing in constructing a road from Lake Su-
perior to Puget Sound direct, pecuniary
aid, in the following described terms /:
The company are required 10 build twenty
five miles Of irst-class railway and tele-
graph lines ; when the same shall have
been accepted by the Commissioners ap-
pointed BY the President, the interest of q
Fixed amount per mile, at six per cent. in
currency, shall be guaranteed for twenty
years by the Government. The minimum
amount per mile is $4,000; the maxi
mum, S56,000. This is not a gift; the
bill provides for the repayment Of all
moneys by reserving one-half Of the pro-
ceeds from the sale Of lands held by the
company, also twenty-five per cent. Of the
gross earnings, till the Government shall
be fully reimbursed. The capital stock Of
the company is 800, 900, ooo-she amount
guaranteed about $780, oo, ooo-to DO de-
,ermined by survey. The company is
forever prohibited from issuing bonds.
The company receives aid only as the
road progresses, in sections Of twenty-five
miles. BY this plan, the reimbursement
commences at once; for the construction
of this line enhances the value Of the lands,
which are now worthless-held by buffa-
loes and Indians.
The total liability Of the Government
per annum, when the road is completed,
will be about $500, 900, il no income
shall be derived from the lands granted to
the company. But the probabilities are
that the reimbursement will nearly keep
pace with the liability. BY the report Of
the Commissioners Of Public Lands, we
learn that not far from 600, 900 acres were
taken up in Minnesota alone last year,
mostly along the lines Of railroads now in
progress. The minimum prices 6xed BY
Government on these lands for twenty
miles on each side Of the proposed road is
81 so per acre.
The gentlemen in the enterprise believe
that the public are surfeited with bonds,
and that capitalists abroad and at home
will be attracted by a stock on which the
interest is certain to be ~paid-upon which
there can never be a mortgage; while, in
addition to the six per cent, there will be
a future prospect of dividends from the
sale Of the lands.
The line of this road runs through tie
heart Of the great Northwestern gold
fields. It will pass up the Yellow Stone,
through the center Of Montana-that Ter
risory which is now surprising all others
in the richness and extent Of its mines,
and in its agricultural From
present indications, there is to be IN un-
precedented emigration to that section the
present season. About fifty steamers are
under charter from St. Louis; Holidays
stages are crammed; while from Iowa,
Minnesota and Nebraska, the emf
gran. with his family is preparing to join
the great caravan for a sixty days journey
to the land Of gold. Passengers BY the
steamers will be IS days on the river, pay
ing $500 for the passage, and IS cents per
pound on freight. Those who travel over
land pay $500, and must be "a days going
1900 miles. The distance from Sank
on the Missouri. to which point a
railroad is now under construction, is
about 900 miles. We're the Northern line
completed to Montana, that Territory
would DO but forty hours from St. Paul
for S25 freight three cents per pound.
Even with the opening Of 800 miles,
from the Mississippi to the Missouri, with
steamers on the Upper Missouri, Montana
can be brought within Ave days of St.
Paul, and within eight days Of New York.
FIFTH AVENUE, New York, contains
ON l.,oY.-.. ~ :, g., a,;d ha. -at a