Frostburg mining journal. [volume] (Frostburg, Md.) 1871-1913, 1871-12-09


while twice the number are beng vigor-
ously pushed along. The self-reliant
spirit manifested is truly commendable.
Those who lost most heavily are the
first to resume business, and complain
the least, and no doubt will overcome
their loss the soonest. The prospect
for the future is good-buslness is i've
w.. A larger amount of logs will be got
ten out this winter than ever before IN
this numbering district. The price OF
lumber is good, and the prospect Is
that there will be more business done
here next spring than in any preceding
year. -----------------------
Progress Of the Northern Pacific Rail.
road.
Messrs. JAY Cooke & Co., the financial
agents of the Northern Pacific Railroad,
furnish the following gratifying facts
regarding the prosperous progress OF
this enterprise
The track is now about completed across
the State of Minnesota, $50 miles, the grade
being wholly finished, and the track-layers
approaching the Red River at the rate of
three miles a day. Regular trains are run
ming over the completed sections.
In the latter part of September contracts
division, extending 200 miles westward,
from the crossing of the Red River to the
crossing of the Missouri, in Central Dakota.
This division is to be finished by the first
day of July next, and so miles are to be
graded before the beginning of winter. In
the meantime, section OF 30 miles is under
construction between the Columbia River
and Puget Sound, in Washington Territory,
where track-laying is rapidly progressing.
1t will be remembered that the Northern
Pacific Company last year purchased both
the Main Line and branch of the St. Paul
and Pacific Road. Within the last three
| months, the Main Line has been completed
through a noble country, to the Red River at
| Breckenridge Contracts were last year let
for the continuation of the branch, from its
present terminus, at Watab, on the Missis-
Sippi River, 20 miles northward, to Brain
| erd, where it will Join the trunk line OF the
| Northern Pacific. Finally, contracts have
be II let for the construction of a branch
road from ST. Cloud Q75 miles north of st.
Paul. to Pembina, on the British border,
! distance of 375 miles. This line is to be
completed within fifteen months of the
present time. 1t will drain the richest por-
| ton of the Red River Valley, open direct
| communication with the British settlements
of Winnipeg and the rich Saskatchewan
| Basin. 1t will also serve as the southeast
| ern arm of the Northern Pacific Road,
TedCnluS W ot. L uul Mlhheol'oiiot anu
| thus connecting with Chicago and the trunk
| lines to the east
| The completion of these contracts will give
the Northern Pacific Company, at the close OF
next year, 900 miles of road in the fertile and
| prosperous State of Minnesota; it will carry
| the trunk line of the great thoroughfare nearly
| one-third of its distance across the continent
| and will bring to the Northern Pacific Road
the large and profitable traffic of Montana,
and the Government transportation of the
| upper Missouri.
| 1t is anticipated that this business alone,
without waiting for through trade, will meet
the interest of the cost of the finished portion
of the Road. The Hudson's Bay Company
| has already leased docks and warehouses at
| Duluth, preparatory to doing the whole of its
| immense business over the Northern Pacific
| line.
Settlers occupying the lands along the
route with surprising and gratifying rapidly
About the list OF January next nearly Two
| Million acres OF the f.uest lands in Minnesota
| will be placed in market by the Northern
| Pacific Railroad Company, ond the proceeds
of their sale will be used to purchase and
cancel the Company's $50 Bonds. The Com
panys land in Minnesota will much more
than pay the cost of building the Minnesota
Division of the Road, and their sale will be
rapid-indeed, many thousand acres have
already been sold to actual settlers, Iii advance
of being offered. The Company's lands west
of Minnesota, through Dakota, prove to be Of
superb character, and will speedily come into
market.
| Owing to the rigid economy and perfect in
| tegrity with which all departments of the
enterprise are managed, and the great reduc-
| ton in cost of material within the last few
| years, the cost of construction and equipment
| proves to be considerably less per mile than
| the original estimates. For example, loco
motives which cost SO. 900 each when the
| Union and Central Pacific Roads We're built,
are now sold at So 900 best American rails,
which during the war sold at about 800 per
ton, now cost the Northern Pacific Company
only about 27o per ton; right of way, and
/ stone and timber luatori"l which are usually
large items in the cost of II new rond, are fur
nished to the Northern Pacific gratuitously
from the Government domain. The bearing
that this greatly diminished cost of construc-
ton must have on the value and security of
me oompany's 70" Bonds Will be apparent
" my my ons'
Iat ioney peIs iurnlsI n ici t P cary
tb "a Ie ~; ne 60 It nou oy
pd ~" rTpiu sdio VI us MS. Morasage 10"
hoa,, or,, ',. ';s I.,Gn y! ,sst nas
ueen iapt' "uiins wy lao. 1hleo
f a." a. 'he present. ra.e % increase
- saius Wy oonipary WIZ soon pe enaoie"
" eu'.o ,ho i"'o vi lh'oieeI oh 'ho iehcaih
ue ao OF us ioan, or ADVANCE inc price OF the
n.tOh, GouI uoGvo Par 1nese oosus nare
security, good evidence of which is the fact
that they are being largely taken as an in,
New; new England, ana conservative S; lnonied