Mower County transcript. [volume] (Lansing, Minn.) 1868-1915, 1871-11-30
Progress Of the Northern Pacific Rail.
rOnd

Messrs. Jay Cooke & Co., the finan-
cial agents of the Northern Pacific Rail
road, furnish the following gratifying
facts regarding the prosperous progress
of this enterprise
Tho track IL Low about completed across
the State OF Minnesota, $50 miles, tho grade
preaching the Rcd livor ut tho ratio of three
miles day Regular trains are running over
the completed sections.
III the latter part Of September contracts
were lot for the construction of tho Dakota
division, extending 200 miles westward, from
the crossing of the Red River to the crossing
of the Missouri, in central Dakota. This divi-
sion is to DO flushed by tho first day of July
newt end 90 niles arc to bo graded before tho
beginning Of winter. In the meantime, a sec
ton of Us miles is under construction bctwoen
the Columbia River and Puget Sound, in
Washington Territory, where track laying is
rapidly progressing.
1t will be remembered that tho Northern Pa
ellie Company last year purchased both the
Main Line and branch of the St. Paul and Pa
rltic road. Within the last three months, tho
Main Line has been completed through no
bic country, to the Red River at Breckenridge.
Co"trocts werc last week lot for tho continue
tl'' vi The branch. from its present terminus,
at Ha''l IN !la mississippi River 70 miles
III .1I.wlrI, 10 Brainerl, where it will join the
''!':l. hnc Of the Northern Pacific Finally,
c';:i:acts have ;'ccu let for tho construction
OF F." branch rrl from st. Cloud (o75 miles
~ ';'l of 81: = - to pembina, on the British
l~"'":r a lslAi':r If ;'75 miles. This line is
to L>' r,rnpl";rt within fifteen months of the
present lll..>. l; viii drain the richest por-
TONS of the Red River Valley, open direct COM
ln'lnlcation with the British settlements of
Winnipeg and the rich Saskatchewan Basin 1t
will also serve as tho southeastern arm Of the
Northern Pacific lsoad, reaching to St. Paul and
MINNEAPOLIS, and thus connecting with Cllica-
80 and the trunk lines to the east
The completion Of these contracts will give
The Northern Pacific Company at the close Of
neat Year, 800 miles of road IN the fertile and
prosperous State of Minnesota it will carry
tie trunk line of the great tboroughfafe nearly
onc-tllird of Its distance across the continent,
! Tic large and profitable traffic OF Montana,
a:'d the Government transportation Of the
urpe: Missouri.
1t - anticipated that this business alone,
without waiting for through trade, will meet
the Interest on the cost of the finished portion
OF the Road. The Hudson's Bay Company has
already leased docks and warehouses; at Du-
luth, preparatory to dong the whole OF its i'm
mensc business over tine Northern Pacific line.
| Settlers are occupying the lands along the
route w''' surprising and gratifying rapidity.
Ainn he 'st of January next nearly Two
Mi!l!" acre, f the finest lands in Minnesota
will 80 place! in market by the Northern Pa
cIli tai'r',,i Company, and tie proceeds of
tllel sale W., to- used to purchase and cancel
the ompanv,, 80 Bonds The Companv's
, la,n.., IN .>li'''uoota will much more than pay
! the cost of building the minnesota Division Of
/ he Road, and their aa' will be rapid-indccd,
i.a,,v Thousand acres have already been sold
T. actual settlers, i'll advance Of being offered.
~, Compary's lards west of Minnesota,
| through 'iahol.:. ;'>"c t. be of superb char
ay,,r and wiIl sv','''iv come illt O market
Owing 10 Tic * i'll economy and perfect in
t.: rlty with which all departments of the en-
| to- prise are managed, and the great reduction
! l'': cost OF reconstruction and equipment proves
t. be considerably less per mile than the oriSi-
1T Estimates. For example, locomotives
I INCH cost 10000 each when the Union and
Central Pacific Roads were built, are now
| sold at $4,000; best American rails
whirn during he war sold at aoont 500 per
! tor, now cost Tho Northern Pacific Company
only about go per ton; right OF wy, and
sto lc and timber material, which are usually
| large items i'll tho cost of a new road, are fur
''s'.cd to the Northern Pacific gratuitously
fl ''u the Government domain. Tho bearing
that tli: greatly diminished cost Of construc-
| tor must have Un tho value and security of
! the :'ompany's 7 30 Bonds will be apparent to
any one.
Ine money is being furnished for the early
| ccmplction of tho Northen Pacific Road by the
now rapid sale of its First Mortgage 100
| Bonds. Their absorption by Investors has
been very rapid during the last three months,
and at the present rate of increase of sales the
Company will soon be enabled to reduce tho
rate of interest on the remainder of it's loan,
or advance the price Of the 7-3O bonds above
par. These Bonds have established their
cha, accl as u tirst-class security. good evil
denn;' Ut which is the fact that they are being
lar! ely takon as an Investment v many of the
Saving Banks of New England, and conserva-
| tive monicd institutions Of other states. Since
the Success of the United States Five Per Cent.
Loan. very many folders of Five-Twenties
have taken advantage of the favorable oppor-
tunity to exchange their Government Bonds
for Northern Pacitics, at large profit. Those
exchanges are increasing in volume in all parts
| OF tho country.
Steadily and with even greater rapidity than
IS anticipated by it's projectors, this great
;.n'roughfare is advancing across the CONT
ncnt, opening as it progresses the finest belt
of undeveloped country in America. Every
phase of tho enterprise is in the most salts
factory condition, its complete success was
lon}; since assured, and its early completion
| is HOW certainty.