New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-10-22

~. a,,a,s oonvev traffic 10 this river One OF these.
waIIa wala with about 5000 inhabitants, % already
famous for It's prosperity, and exports large q""'0'
OF excellent wheat, although al go)us nave W W W.
yeyed TO the steamers tbr0ngb sandy doS' anu o'''
Que vi the worst OF roads. ,
The traffic on tho Columbia River tWbica IL @' p'o
very expensive the navigation beng twice i"brf"Pt
by cascades and RAPIDS, and the goods consequently
having to De transhpped several tmes naturally farms
TO the Northern Pacific hno.
Puget Sound, where the line terminates aiter haFnH
crossed Washington Territory, ~ harbor ooroereu W
numerous valleys OF excellent agricultural SOIL ahu
joined by the Strait of San Juan de Fuca to the Paohe
ocean. The surroundings OF Paget Sound have ia
proved considerably during the past few years and this
~ due chiefly to the exerrons OF the Governor Of Wash
ington Territory, native OF Germany. Many German
immigrants have settled there, while further increase
OF population by fresh immigration be confidently
expected
At present the little towns at Puget Sound each OF
which desires 81 be made the terminus OF the line do not
possess any material elements for brisk trade With
the exception OF about SO steam mills, winch fur
back 1869 produced 1850 million feet OF boards, laths
&c. only the beginning of industry. This is
especially the the coal trade the still inadequate
product OF the mines being sent 10 san FransscO. Al
though neither this latter traffic nor the trade carsed by
the activity Of the mills affect directly the
Northern Pacific line yet indirectly traffic OF other
kinds Will be brought TO II by the increase OF the rising
towns
1t is believed by many that considerable share of the
through freight Of Asiac commerce can be obtained for
the Northern Pacific Hue In our opinion the anjcpa-
tons In this respect do not promise to be at present
realized For on the one hand the new overland route.
before the branch line is completed Is not much shorter
than the present Pacific lines and on the other there
many objections 10 a change in the route " traffic
There is towD yet Puget Sound which could at
all vie with San Francisco and there steamer lines
between Asia and Puget Sound. The Northern Pacific
route rely upon this trade until circumstances
materially altered by the increased prosperity OF
the ports near Puget sonnd and the intimate trade con
what weakened
The goods OF the Hudsons Bay Company will be for
are conveyed from st. Paul to the valley OF the Red
River Of the North, and through this wheels across
Canada The Hudsons Bay Company has for this pur-
pose already established chief agency in Duluth. and
will In future send its goods thence by the Northern Ia
che route.
TIE PEcUSIARY RESULT OF THE TRADE.
The facts upon which TO base estimate OF the fu-
ture traffic the Northern Pacific route having TINS
been stated, proceed now 10 examine more closely
what pecuniary results may he expected therefrom.
To aid this inquiry the best is 10 look back
at the results OF the traffic OF similar lines
The Union and Central Pacific routes have in different
although they always favored in comparison with
the latter by the ADVANTAGE OF better developer oacE
business in 1869, and which had therefore completed
their first full trade 10 1870 the unlon Paeihc had
on its 1,os9 English miles OF road In 1870 ..
An expenditure OF q. 5O2 per mile;
The Central Pacific route, the other hand had in
the same year. on Its 800 miles OF railway network,
An income OF $3.50 per mile;
An expenditure OF $4,952 per mile;
Clear profit A,101 per mile.
The former line spent in expenses OF traffic 6l the
latter 81 per cent OF the gross income. III expected
the same results on the Northern Pacific line though
they cannot be fully relied on BY Of the less de
reckon on gross income OF about soooeOo In the first
ss 81 ne osn of or M inns o. psr eG Ur
as clear profit surplus sGiO0OO0 nearly sufficient TO
cover the interest OF its bonds amounting TO 0aOO
PROBABLE DEFICIENCY
AT irst such a surplus Is not 10 be expected. The
gross will probably be smaller aud the operating
expenses proportionatey greater so that IL will be
difficult the for the interest on the bonds
There WILL therefore, be time after the completion OF the
line when payment Of interest bonds out OF the
building fund win have ceased and when the profits OF
the undertaking Will be insufficient 10 cover such paw
ment But as the interest must be secured to the bond
holders the rawa az company will have to provide for
IL in another way The period during which The surplus
of income from traffic will be insufficient for the full
payment OF interest will not. however, last long; for,
not speak Of the rapid Improvement IN the yield OF
All modes OF public communication in America, IL has
been found that railways carried through lands at first
thinly populated and uncultlyated soon bring about
marvellous development Of the newly opened territory
To advance the construction OF the lIue the Govern
ment made the I'd OF July, 1864 and again by fur
Their resolution on May 81 1870 grant OF ten alternate
sections OF land leach OF square English mile. $40 acres,
10l6 Prussian morgen or hectare on each sue OF
the line the States through which II passes, aud
20 alternate each side IN the Territories
through which passes this land to be the property OF
the company Governments has further decreed That IT,
through any cause whatever, there should oe den
cheney of lands conceded it shall be supplied by a
grant of a further section OF ten miles right
and ten miles left outside of the fixed limits.
In addition Ia the above. the Company has been
granted in the aforementioned strip of public
land 400 feet in width with the right OF obtaining the
necessary building materials, such as wood stone &c.
even away from the line ana free OF cost fle above
mentioned concessions give 10 the railway company tue
exclusive possession OF an extent OF lana wic MAKING
all allowance for possible loss may be estimated AT 49, 500
Dr VI
gsh railway mile and therefore, on the whole engtn
OF the line from Lake Superior to Puget Sound about
Ak COO OOo of acres or II 10000 Prussian morgen,
lSOOOOOO hectares These measurenents Ia act ao0ht
o mo less than $500 German square miles four times
the extent OF Bel GUM and Holland and three times dt
OF the whole of Bohemia. ~,
AS the construction OF line proceeds and after tue
completion Of every IS English miles, the land In success
siyey conceded TO the Company as their free property
TIE LAND As A GUARANTEE TOR THE BONDS.
The land TINS accrning the Company OF the North
ern Pacific line. rather the profit the sale OF the
same forms further guarantee for the payment OF the
bonds Under these circumstances it became necessary
TO find ont whether value of the additional land cores
bonded with the required for the redemption
and further, whether the sale OF so large an amount OF
land was possible at ali within the hunts OF the 80
years fixed for that operation and agalu whether IT
would produce tue requisite pront,
The condition of the land OF course, varies greatly
owing to great length OF the line; Il may, however,
generaybe said TO be Of good quality, and Is some
pecialy found IN Minnesota and Dakota. The same
thing may said OF the large valleys OF Montana and
the eastern part OF Washington III TACT,
I'm those parts III which there settlements much
wheat IL already raised. and is sold at very distant
places aud at high prices, on account OF It's excellent
quality. .... 80. ...... ....- ...
The Eastern part OF Minnesota on the contrary, from
Lake Superior the Crow Wing River. 10 English
miles is finely wooded. is also smaller psrt Of
Montana while in Dakota there are Only Jew GODS OF
small extent The forest land in Washington Territory
is deserving OF particular mention. IL extends from
Portland Oregon 10 Puget Sound almost without inter
ruptop These forests, partly consisting OF the most
beautiful cedars frs pines aud other evergreens with
trunks five to feet IN diameter contain REQ treas
ures of timber which Is cut up by DuuiOer Of saw
mills near Puget Sound, and at other places along the
coast for shipment Peru and Ch and even Ia China
Honoluu aud Australia One portion OF the forest has
indeed been partly cleared the fires which break out
from time to time during the dry season but. without
taxing into the process OF renewed growth