The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1873-09-20
Jay Cookies Connection with the
Syndicate. is. .iaa
Comments of New York Journals.
slO,0O0,000 of Treasury Currency
to be Thrown on the Market
To-day.
CONDITION AND PROSPECTS OF THEN. r.
RAILROAD. - ~. ,,.,., ,,.. /,

RAILROAD ~ , ~ .'5.,''lIs'' .,.9' 5s' =
NEW YoRK, Sept 19-Samuel Wilke-
son, Secretary ol the Northern Pacific
Railroad Company in speaking oi the sus.
pension OF Jay Cooke s. Co It's financial
agents, saidhe had no doubt OF the road,
it would be constructed. There were
THOSE supporting it who ,would. not allow
he work to be abandoned. The Board
Of Directors alone represent millions. The
Company had not dollar Of unpaid pa.
per up 10 the present time, not . note Of
theirs was ever seen ID Wall street, not a
bond was hypothecated. by the Company.
Consequently the Company had no liabil;
tiles hanging over it that might descend
without warning. Tho interest on the
Company's bonds were not due until the
first Of January next, and it would then
undoubtedly be met. That portion Of the
road already built was earning more than
was anticipated from II. That portion
running to the Red river country had al
ready developed a fine carrying trade. BE
believed the road would be hindered more
by hostile Sioux than financial revulsion,,
Neither force, however, could prevent the
successful completion Of tho road. Two
Ol the members Of the firm were directors
of the Northern Pacific Railroad Com
pany. Tho result will be that the work
Of the construction will BIO somewhat re.
tarded, and ID more than probable that
Congress will be asked to grant an exten.
sion OF two years to the Company beyond
that already granted to enable It to CON-
plete the road. No such enterprise was,
ever before attempted by private capital.
lists as that Of constructing railroad
twenty-five hundred miles in, length
across an unsettled continent. Congress
should have come to their aid by extend.
Ing the credit Of the Government 10 The
undertaking. 1t would have doneso, but
Tor the demagogical cry that corporations
were grasplng the entire domain and
overriding the rights Of the people. '''
Therolling stock is as follows Locomo.
tive engines, seventy.two; cars, passen.
ser, sixteen; baggage and mail, six; en-
grant, four; dumps, twenty-five; freight,
platform, 1880; box, S95; total cars, i ,5l6.
The road being in theprocess Of copstprc,
ton, no account Of the earnings can be
given. The expenditures have been as
follows Surveys. $109,l54; construction,
slsI2OoeOo; rolling stock, $1,9os, 1885,
tools, machinery, and stock supplies,
sS5s,Ssl; harbor improvements at Duluth,
s2i5,O0S; total, $l5 5,s04374.
COOKIES CONNECTION WITH THE sYNDl'
cATE. ~ '-''
Secretary Richardson has been spoken
TOT the subject Of the sispension,o Jay
Cooke & Co., and says that the Govern
Ment Will not lose % dollar even If tho
lsllure Is complete. u. Cooke has not o
dollar Of Government money in bis pos
slon' He may have bonds, but he had 70
buy item and pay for them. We DO not
give bonds to them nor lend them unless
they ore paid for. The Syndicate has
the selling of the bonds. They open sub.
StiptIons, and when they sell 4 bond OF
have market for 1t they come to the
Treasury and pay for it No bonds are
given TO the Syndicate until theil
equivalent In money has been de-
Iivesed to the Treasury. The bond
are sold under the regulation o
sCommittee Of the Syndicate IRON thei
own number, the amount Of bonds dis:
posed Of since last March being abou
NO0OO0OO. The Cookies have deposited
more bonds than they have drawn sgains
on tho Syndicate account, and the Depart
ment owes them at least 100000 In Syn,
alcate bonds, ahd the amount may reacl
$4,000. The suspension Of Jay Cook
y Co. can have no possible effect on, III
Syndicate, and therefore l shall pay no a,
tenttontoit. The Department has simpl,
contract with certain firms known b,