The new North-west. [volume] (Deer Lodge, Mont.) 1869-1897, 1873-10-11
THE 4. ?. R. Z. CONSTRUCTION.


- e~OoS - =
From tho New York Times, septembessA
In order TO ascertain what effect the pres.
en-, panic on Wall street and the suspension
Of Jay Cooke Il Co. would have upon the
affairs OF the Northern Pacific Railroad, a
reporter Of The Times on Friday called upon
Mr.. Samuel Wiikcson, the Secretary II that
corporation. In reply 10 the question as to
whether tho operations Of the road will be
affected by the suspension Of Jay Cooke d
Co. Nj. Wilkcson said: "Thc completion
Of tho road from Columbia River 10 Puget
Sound lit will be finished and in operation
by Octobcr) would end. according to al our
plans, construction on the Pacific side tor
the year 1873 1t Was not our purpose /"
toucl, the construction Of the Lake Pen d
Orcillc division until the spring Of 1874
On the east side Of the RDcky Mountains
two influences will naturally delay construc
ton beyond tho Missouri river, neither Ut
wticI, are under the control of the Com
pany. One Of these Is the hostility Of the
Sioux Indians, and the other Il the near sp'
proach OF the period Ut SHOWS. II had been
the purpose Of the company to let the entire
eos miles between the Missouri and the
Yellowstone Rivers. Proposals for the
work were advertised. Twenty three dit
fcrcnt bids were received for the work
Svme of The bids were for part payment in
the Companys bonds The Executive Com.
mit,ce Of the Board proposed to-day 10 let
the work for the entire distance to the Vel
lowstonc The suspension Of the COmpany's
financial agents, however, has deferred the
declaration OF the successful bidder and the
closing OF the contract. The letting Of the
work, however. will undoubtedly be made
this month. and construction will probably
bc commenced. and pushed 10 a point 81
miles west of Fort Abraham Lincoln. where
coal of The best uslily outc,Ops. and which
the Company desire 10 mime this coming
| wintcr.
The Executive Committee Of the Board
to-day closed the contract for the purchase
Ut . valuable line Of steamers running ON
Puget Sound, with their mail contracts,
for y price, part Of which wss tl5O, QUO in
seven thirty bonds..of the Company. Tbs
was after The announcement Ut the failure
uf Fisk & latch, and IN tho midst Of all tho
excitement in Wall street. know that the
parties selling Us the steamers Oh Puget
Sound will use their $l5O.O00 worth Of
bonds in buying timber lsncs Ut the CON-
pany. ard they will double their money On
the purchase. think that the high rate 0t
gold Interest, that the bonds carry, The
sn.llness Of their denominations, their pur
chase for investment by farmers. mechanics
aud others of small means ~ll over the Uni
ted States, but particularly their convcrti
bi,ty into the lands Ut the Company ut III.
option Of the holders, will prevent their be.
ing dung on the market for what they will
fe.ch. In the list public panic only 4.OO
Northern Pacific bonds wcro - dung on
The market IN Philadelphia aud New York,
end ! do not think there will I've many more
on this occasion sent in for sale. We have
timber lands On Puget sound, which, u the
current value Of logs u sny Ut 10 sawmills
will cipher up value Of over $500. 900 to th.
section Ut G4O acres. These are tie secufi
tics which Jay Cooks 4 20. hold for tbeil
ADVANCES u the Mouth Pacific Rsilruad
Ualuckily for them, thew arc not quoted .
the New York Stock Exchange, where VI
would never pernIi, them to g., and there
fore they cannot I've used by the house q
collateral to borrow ,noney on. Had NoF
thern Pacitics been nn the Stock Exchang'
list, Jay Cooke & Co. On Thursday las
could have commanded millions from Ih
best bsnksin New York, hut u has been th
policy Of, the Company and its dnsncia
agents ~ keep both the stock and the bond
Of the Company out Of Ws!l street. san
not tell what amount Of bonds yet renal
unp'"ccd until ill., affairs of jay Cooke
Co are settled, bat do not believe >the,'
will bo any difficulty IN placing them. 4
i l meyer expected thu, the Northern Paci
ic Road, aided by the Government onl.
with . land grant, could be built thrOug
1900 milss ii uninhsbiscd counssy, howev
er rich and productive i might BY. wishcu
interruption of construction and pauscs 1
gather new strength. The FIRST Of these ~
urrup,ions bss come. The ditlIolty i
providing money for construction out Of
land graft is this. We have trc,ncnd0u
competitor in the Government Of the Unl
Ted States That sells land IN unl'm'se
quantities At 81 Is per acre. 1t also give
i away lands 10 whomsoever will take the,
under the Homestead, Presumption. an
Soldier Bounty laws. We are Sestric,e
BY our mortgage from selling our lands ,
less than g ~ M acre. Thus il to max
the bond holders absolutely sccur.. Their.
fore, when We come 10 sell our lands v
have u offer chem apon credit 20 extend
cd rs 10 lc en,icin2. We only ask ont
tenth Of the price down in cash. Ard the
give seven years for the payment of II
balance. We will 80 right along - " -
We will apply careful economy ~heTev'
NC can do n; cut off expenses. reduce ssli
aries, get everything trim and snug. On
wal, for the day which u care 20 tGm'
whcr the public shall. r.cossiss ihsnstioul
= character VI this enterprise, and will d,
pp-ptt ~ speedy c cog pse OIL
a From the Montanian, October Z I 81"
D Governor Potts this morning, received
letter from Mr.. Nettlcton. confidential sei
re,sryof the ,fiuasciAl agents of'ihs n.
r r.. In which NJ. Nelilcion assures Go
Potts that the 1ailuse II JaI Cooke &c,
will not affect the Northern fAAciac Con
psny the least. Or retsrd the building 9f n
soad. NJ ssys the affairs of the Uonpaa
arc now In much better copditiop thfn ~