, 1872-03-28
Railroad News.
From the st. Paul Press.

The NORTHERN PACIFIC MANAGEMENT
I'VE had occasion the other day to re-
fer to letter written by Philadelphian
prominently connected with the North.
ern Pacific Railroad, Indignantly deny
ing q rumor which had found its way in
one or two Minnesota papers, that Mr..
Moorhead was to succeed Gov. Smith in
the Presidency of the Northern Pacific
Railroad-that there was any conflict be-
tween the Philadelphia members of the
Board Directors and Governor Smith, OF
any foundation for the gross and viru-
lent imputations against him and the
directors, of which this unfounded ru-
NOR was, in one paper at least, male
the pretext. Since the publication of
our article on this subject we have been
authorized to publish the whole letter
from which we gave but single extract.
The letter is from Mr.. Jay Cooke, and
the following is q copy thereof:
PHILADELPHIA, + Gu. y, 1OtZ.
Dear Governor Marshall:
inclose slip from an evening paper
at Minneapolis, forwarded to me by a
friend. So far as / am concerned is en-
tirely unwarranted in the way of an at
tack on Governor Smith. Gov. Smith
is the choice of all parties connected
with the Northern Pacific Railroad, and
perfect confidence is reposed in his man
agement. Mr.. Moorhead never heard
of his name being used in connection
with the Presidency, and would not ac-
cept any position of the kind. 1t is
about time that these attacks upon gen.
tlemen connected with our enterprise
should cease. They can do no good and
can only do harm to the great work
which should be the pride of every citi-
zen of Minnesota. do not believe that
anv gentleman connected with the Di-
rictorship, or any officers of the North
ern Pacific Company are profiting or at
tempting to profit by the contracts or
other matters connected with the build
ing of the road. The financial agents,
president and directors of the road are
unit in all their plans and purposes, viz ::
to build the Northern Pacific promptly
and economically, and 1 do not believe
that there is any one of them that would
not promptly bring to the notice of the
others any error of judgment, mistake
or attempt to deal unjustly with the COM
pany on the part of any one high or low
that comes to their notice. If any one
over his own signature has any COM
plants or charges to make on any sub
ject, assure him his communication
will meet from all parties with most re-
spectful and prompt consideration, and
no attention will be paid to anonymous
and otherwise vague information.
Yours respectfully,
JAY Cooke.
The CHEAT PACIFIC RoADs.-Under
the mastery management of Jay Cooke
the financial foundation of the Northern
Pacific seems to be already firmly estab-
lished. During two days alone last
week the sales of bonds in this country
have amounted to two hundred and thir-
ty-nine thousand dollars, and the sales
of the month of January foot up a mil
lion and half This exclusive of the
European market, where several millions
have been placed this year. These fig
ures, however enormous, have q solid
basis, and do not infer imitation or spec
ulation. A moments thought will con-
vince any one that the railway figures of
the future must far exceed anything SO
far known in this country, and this be-
cause as yet We are living merely in one
corner of it, and our operations are on
contracted scale. The territorial area
of all New England and the Middle
States is not quite 200, 900 square miles.
The area of the United States Terrific
ries, not including Alaska, is LOO, 600
square miles, over five times as great.
Now, these Territories are the domain
of our Pacific Railways. If our little
corner has built up and sustained the
Pennsylvania, the Reading, the Erie,
the Central, the late Camden and Am
boy, and dozen of the other great lines,
what will be the future of these great
Pacific roads, whose territory is so much
more magnificent and in short time
will be so much richer, more populous,
and powerful ?--Philads'phia Press, Feb.
10th. r.l..i.5
INVESTIGATING THE NORTHERN PACIFIC.
: General Banks having yesterday in
trodueed a resolution directingthe Com
mittee of Pacific Railroads to inquire
into the present condition Of the North
ern Pacific Railroad Company, he was
to-day ipterrogated by gentlemen repre-
senting the interests of the company,
and in explanation of the proposed in
vestigation said he was compelled to
take this step to satisfy his constituents,
who write to him for the purpose of as
certaining what security there may be
for the ultimate payment of the North