The new North-west. [volume] (Deer Lodge, Mont.) 1869-1897, 1871-01-13
Placing the n. +. II II. B0.ds-
What its F1vN,lciers are U0i1lQ-
British Prejudice. -.

Loutlon Coz. St. Louis Republican.
The campaign for placing on the Euro.
pean market the hundred million Of North
Pacific Railroad bonds which J. Cooke &
Co. propose to issue OH the land grauts OF
the last Congress, has been actively opened
in London by tho arrival OF Hon. Hugh
Mccullough and Col. Pulcston, and the c..
tai bmcnt here of banking house with
that special work rs its mission. Not being
able to secure subscriptions for q dollar Of
this stock III tho money centres Of the Uni.
ted States, the ring Of the North Pacific
railroad have brought their goods to u for.
cisn market. Frankfort was first pitched
upon as the place where thisloan was TO be
bought out, but tho war spoiled that plan
and London was selected instead. The
men who had undertaken this financial
feat have made full preparations; they have
studied the ground, calculated the difficult
ties and obstacles, and began tic scigc Of
London Money bags, as Bismarck and MOltke
began the siege of Paris, with adequate re-
sources of brain and purse and tho deter.
mination TO carry the day. no matter how
long and how hard the resistance. Moth.
ing American is just now in favor with
Englishmcn, but least Of all, American rail.
way securities. Their experience with Jim
Fisk and Eric shares has made them cspo-
cially skeptical and suspicious on this point.
For J. Cook and tho North Pacific bonds,
therefore, the read to popular favor is
going to be aprctty hard ono to travel.
The work Of making it smooth and easy
was began this week by welcoming din.
ncr generously offered 10 Mr.. Mccullough
and COL Pulcston, on their arrival, by Gen.
George B. Sargent, Of Duluth, who is like.
wise member Of the North Pacific ring,
now on this side of the Atlantic. The af-
fair took place ut the Alexandria Hotel, and
was most gorgeous success. Many of the
heavy nicn of "thc city" were present; the
turtle and wine were ut fora Lord Mayors
table, and the speeches overflowcd with
| the good d.naturcd commonplace and indis.
ezininatc compliment that heated diners.
out christcn ''post.prandial eloquencc."
Sir John Rose was there and commented ON
tho fact that hc was first finance minister to
the Queen at the Same time tha. Mr.. Nc.
Cullough held that relation to President
johnson; that both had abandoned politics
and now met as American bankers in Lon
don. Sir John Is connected with an Amer
ican house here There were, OF course,
innumcrablo other speakers. Everybody
| was toasted and fattcrcd, md everybody
pleased. Ibis is the first step in the serious
business of rcassuring the British capital.
! lists In regard to the safety and profit OF
speculative enterprises with his American
cousins, and above a,l, with the men Of tho
N. r. II. II. II will he followed bv other
junkctlngs, public and private. and by a
series of the most effective, yet dignified
and high.toucd advertisements, until tho
great object of placing the hundred mil
lions is accomplished. I have had 1t from.
the best authority, ttat thosc who have un-
der,aken this loan will spend a million Of
dollars in London alone, in order to carry
it through, if such expenditure 10 fouud
necessary. No labor or time or expense 10
to be spared.