The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1871-10-17
progress of the Northern Pacific
Railroad.
RlEKIN1 HOUSE, or jar COOKE y Co.,
ia south Third street, ?
PunGpEIPHIk, October 8, 1871.


The grade being wholly finished, and the
track.layers approaching the Red river
at the rate Of three miles q day, Regu:
lar trains are running over the completed
sections. ..r.
Last week contracts were let for the
completion of the Dakota division, ex-
tending 800 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 10 miles is
under construction between the Colum.
bin river and Puget Sound, in Washing
ion Territory, where track'lAying is rap
idly progressing.
Il will be remembered that the North.
ern Pacific Company last year purchased
bOlh the Maine Line and Branch of the
81. Paul Il Pacific Boad. Within the last
three months, the Maine Line has been
completed, through noble country, to
the Red River at Breckenridge Contracts
were last week let for the continuation Of
the Branch, from its present terminus, at
Watab, on the Mississippi River, 20 miles
northward, to Brainerd, where 1t will join
the trunk line Of the Northern Pacific,
Finally, contracts have been let for the
construction OF u branch road from ST.
Cloud Us miles north of st. Paul, to
Pembina, on the British border, distance
Of $40 miles. This line Is to be completed
within fifteen months of the present time,
II will drain the richest portions OF the
Red River Valley, open direct communi.
cation with the British settlements OF
Winnepeg and the rich Saskatchewan
Basin. It will also serve as the southeas.
tern arm OF the Northern Pacific Road,
reaching to 81. Paul and Minneapolis, and
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 oil road
In the fertile and prosperous State OF Min
nesota; 1t will carry the trunk line of the
great thoroughiare nearly one.third OF Its
distance across the continent, and will
bring the Northern Pacific Road the large
and profitable traffic OF Montana, and the
Government transportation of the upper
Missouri.
Its anticipated that this business alone
without waiting for through trade, will
meet the interest on the cost Of the fin
ished portion OF tho rood. The Hudson'E
Bay Company has already leased docks
and warehouses Of Duluth, preparatory
to doing the whole Of this immense bust
ness over the Northern Pacific line.
Settlers arc occupying the lands along
the route with surprising and gratifying
rapidly.
About the first OF January next nearly
two million acres Of the finest lands II
Minnesota will be placed In the markc
by the Northern Pacific Railroad Com
pany, and the proceeds of their sale will
be used to purchase and cancel the Com
pany's 7.30 bonds. The COmpany's land
! in Minnesota will much more than pa,
, the cost of building the Minnesota division
OF the road, and their sale will be rapid
indeed, many thousand acres have alread
I been sold to actual settlers, in advanC
$ of being offered. The COmpany's land
west of Minnesota, through Dakota, prov
to be Of superb character, and will spec
Oily come into market.
: Owing to the rigid economy and per
, feet integrity with which oil department
of the enterprise are managed, and TIL
great reduction in material within the las
lew years, the cost of construction AM
; equipment proves to be considerably les
I per mile than the original estimates. Flo
example, locomotives which cost $780, 0l
each when the Union and Central Paclh
Roads were built, are now sold at $l2 900
best American rails which during TIL
, war sold at about 800 per ton, now cos
the Northern Pacific Company only abou
$40 per ton right Of way, and stone ant
timber material, which are usually larg
items in the cost Of new road, are fur
nished to the NorthernPacifc gratuitously
, from the Government domain. The bear
Ing that this greatly diminished cost o
construction must have on the value ant
security Of the Company's 7.30 Bond
. will be apparent to my one.
The money Is being furnished Tor the
early completion Of the Northern Pacific
Road bylthe now rapid sale OF its Firs
Mortgage 1880 Bonds Their absorption
by investors has been very rapid during
the last three months, and at the presen
rate Of increase of sales the company will
soon be able TO reduce the rate of interest
on the remainder OF It's loan, or advance
the price Of the 7.80 bonds above par
These bonds have established their char
aCter as first. class security, good evl
denCe of which Is the fact that they arc
being largely taken as an investment By
many OF the Savings Banks of New Eng
land, and conservative monied institu
tiOns of other States. Since tho success
Of the United States Five Per Cen
Loan, very many holders Of Five.Twen
ties have taken advantage of the lavOra.
bic opportunity to exchange their Gov.
eminent Bonds for Northern Pacifcs, at
u large profit. These exchanges are in.
Creasing In volume In all parts Of the
country.
Steadily and with even greater rapidly
than was anticipated by Its projectors
this great tEoroughfafe is advancing
across the continent, opening as II pro,
crosses the finest belt of undeveloped
country in America. Every phase of the
enterprise Is In the most satisfactory con.
dition, It's complete success was long
since assured, and It's early completion e
now n certainty.
JAY COOKE & Co,
Philadelphia, Washington, and Neo York
Il CHANGLE, President Of city Bank
Weeiing
The Murder Of Davis at Bellaire.-
Card from Mr.. RalZelI.
BELLAtRE, Oct. 10, 1871.