Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1871-10-25
Progress of the Northern Pacific Rail


Messrs. jaw Cooke & Co. the financial agents
of the Northern Pacific Railroad furnish the
following facts regarding the satisfactory pro-
eress of this great national woTk:
The track is now about completed across the
State of Minnesota $50 miles, the Sfaue peins
wholly finished, and the track-iayeIs ns
ing the Red River at the rate OF tliee tba
dav. Regular trains are iuiio -
COMPLETED sections.
Last week contracts were leS ioI tno oo ono
struction of the Dakota division, EXTENDING Zo9
miles westward, from the crossing OF Tue r.eo
River to the crossing of the missouri 10 Geli-
trail Dakota This division is to be finished by
tba fret dav of July next, and so miles are to
he Graded before the beginning or WINTER. IN
tbao meantime. a section of IS miles Is under
construction between the Columbia River and
Puget Sound. in Washington Territory, where
track-laying is rapidly progressing
Tt will be remembered that the Northern "a
cifc Company last year purchased both the
Main Line and Branch of the st. Paui and Pa
cifc Road Within the last three months, the
Main Line has been completed, through no
BILE country, to the Red River at breckenridge
/ Contracts were last week let for the continual
| ton of the Branch from its present terminus,
at Watab, on the Mississippi River, 70 miles
northward, to Brainerd, where it will join the
trunk line of the Northern Pacific. Finally.
| contracts have been let for the construction
of a branch road from st. Cloud (75 miles
north of St. PauD, to Pembna. On the British
border, distance of 375 miles. This
line is to be completed within tif-
/ teen months of the present time. 1t will
drain the richest portions 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
southeastern arm of the Northern Pacific
Road. reaching to st. 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 of road in the fertile and
prosperous State of Minnesota; it will carry
the trunk line of the great thoroughfare near
ly one-third of it's distance across the conti-
nent, and will bring to the Northern Pacific
Road the large and profitable traffic of Mon
tana, and the Government transportation CT
the upper Missouri.
1t is anticipated that this business alone,
without waiting for through trade, will meet
| the interest on the cost of the finished por-
I ton of the Road. The Hudson's Bay Com
panv has already leased docks and warehouses
at Duluth, preparatory to dong the whole OF
| it's immense business over the Northern Pacific
| line. .- ...
Settlers are occupying the lands along the
| route with surprising and gratifying rapldity.
About the 1st of January next nearly Two
| Million acres of the finest lands in Minnesota
will be placed in market by the Northern Pa
|
their sale will be used to purchase and cancel
the Company's 7-30 Bonds. The Company Is
land in Minnesota will much more than pay
the cost of building the Minnesota Division of
the Road, ana their sale will be rapid--indeed,
many thousand acres have already been sold
to actual settlers, in advance of being offered.
! The Company's lands west of Minnesota,
through Dakota, prove to be of superb char
acter, and will speedily come into market
| Owing to the rigid economy and perfect in
tegrity with which all departments of the en-
| terprise are managed, and the great reduction
In cost of material within the last few years,
| the cost of construction and equipment proves
| to be considerably less per mile than the orig
| inal estimates. For example, locomotives
which cost $40, 900 each when the Union and
| Central Pacific Roads were built, are now
sold at $4,000; best American rails, which
| during the war sold at about 800 per ton
now cost the Northern Pacific Company only
| about SO per ton; right of way, and stone and
| timber material, which are usually large items
| in the cost of a new road, are furnished to the
| Northern Pacific gratuitously from the Gov
ernment domain. The bearing thatth great
| ly diminished cost Of construction must have
! on the value and security of the Company e
| 40 Bonds, will be apparent to any one.
! The money is being furnished for the early
| completion of the Northern Pacific Road by
| the now rapid sale of its first Mortgage 7-3O
Bonds. Nearly 81 300, 900 were taken by in
| NSSIOio liz ZIG ulOuJu OF september, ana al
| the present rate of increase of sales the Com
pany will soon be enabled to reduce the rate OF
| interest on the remainder of it's loan. These
| bonds have established their character as
| first-class security, good evidence of which is
the fact that they are being largely taken as
an investment by many of the Savings Banks
of New England and conservative monied in
situations of ouner States. Since the success
/ of the United States Five Per Cent Loan,
Every many holders of Fiye-Twenties have TAX
en- advantage of the favorable opportunity to
| exchange their Government Bonds for North
ern Pacifics, at a large profit. These ex-
changes are increasing In volume in all parts
of the country.
Steadily, and with even greater rapidity thar
was anticipated by it's projectors, this great
thorou8hfare is advancing across the CONT
nent, opening as it progresses the finest belt
| of undeveloped country in America Every
phase of the enterprise in the most satisfac-
tory condition, It's complete success was long
since assured, and it's early completion is now
a certainty.