, 1873-03-20
Financial and Commercial.
SEATTLE, March 90, 1873.


IN Jay Cooke. Mccullough & Co, Lon
don, England, So 10 per 6. These
drafts are cashed by special agreement
all over Ireland, Scotland and the Con-
,tinent free of charge.
Cprmerchants report trade improv-
ing but complain of slow collections.
Money is in fair supply at 11a to 2 per
cent. per month. Borrowers have no
trouble in getting what money they
need where their security is ample.
The latest prices in San Francisco of
interest to our readers are: Seattle coal,
Sl2 90 per ton; Bellinsham Bay coal,
$40 so; per ton. Puget Sound Lumber,
SIG to SIT per thousand for rough; md
f25 per thousand for surfaced. Pota-
tees, S1@1 25 per 100 pounds; an i'm
provement. Onions, So 25 per 100 lbs.
Hides, dry, 17@19 cents per pound; salt
ed, s cents.
There has been considerable activity
at our coal wharf within the past week,
where three vessels have loaded and
sailed, taking over 1000 tons of coal,
and another is now most loaded, and
another waiting to load, making five
ships in port in one week, for the Sc
attic Coal Company. This company is
now taking out $50 tons per day, and
are perfecting arrangements by which
they will be able to greatly increase
this.
In Real Estate, times are getting very
dull. The purchasing of wild land, at
different points on the Sound for termi-
nus purposes is Of the past. Holders
of these lands to-day could not realize
20 per cent. on cost price. This kind OF
speculation is played out" Parties
having money have found out that they
cannot make an immense fortune only
on paper, in the prospective future. by
buying wildcat lands. They can do
better by saving their money, and Ell
gaging in some legitimate enterprise.
The past has shown that the money in
vested at these terminus points, nigh
better have been in lottery tickets, for
then the agony Of waiting would be
over, and the loss and foolishness re-
allied at once.
We clip from the Chicago Times, the
following in relation to the terminus of
the n. 2. L. r. at Chicago:
Chicago, the Briareus CT an hundred
iron arms, is about to reach out another
and grapple with the resources of a new,
vast Territory that has not yet paid 1t
tribute. The project, which has as
sumed definite shape, an! has evolved
from a contemplated scheme of capital
lists into settled positive fact, is moth
ing less than the construction of an air
line railway from this city to Duluth.
That 'great city of the future" Is to JOIN
hands with the great city of the present,
and the head waters of Lake Michigan
are to be united with those of Lake Su-
perlor.
1t some months ago that the PROJECT
was first agitated among some New York
capitalists and railroad men. The need
for such a line was readily appreciated
bv any oae who understood the pro
duetiyeness of the country through
which it could be laid, and the extent
of the country that was controlled by
roads that must necessarily be tributary
to the contemplated line. A glance al
q railroad map showed that the Northern
Pacific road had not been properly pro-
yided fer IN respect to an Eastern ter
minus, as long as Chicago had been left
ont of consideration. The connections
with the reputed end of that road ano
the Garden city were obtained by the
use of half dozen roads which follow.
ed long and circuitous route. The
necessity for such road which should
traverse the country between Duluth
and Chicago was readily seen. 1t was
not long, therefore, before the inaugura'
t;on of the idea met with the amount o1
encouragement that their scheme prop
erly deserved. Many men took hold Of
the project, capital was guaranteed. and
the matter took the shape OF project
to be accomplished as fast as the ma
terial and labor could be produced. Some
time since a party of New York gentle
men, who had given encouragement tc
the proposed new road, came to this city
accompanied with surveys and engi'
neers. The right of way, as far as Wis
consin is concerned, was determined up
on and purchased, ana work was begun
Immediately These gentlemen went very
quietly about the business in hand, and
with the reticence apparently character
istic of railroad men, did not allow their
plans to be made public. The scheme
has however been sufficiently matured
to make a secrecy matter of no mo-
ment, and the party of officials staying
at the GARNER house last evening yield
ed to the request of a Times reporter for
information. The company has been
formed in New York with q capital
stock of 100000 and an additional
$4,000, 600 in bonds. The officers are as
follows: G. E. White, New York, form
erly President of the Western Union
road, President; George M. Graves, n.
Y, form erly director of the Erie road,
Vice President; John G. Barnes, of N.
Y, Treasurer; II. A. Warren, of N.
Y, Secretary; Nelson Luddington. Chi
cago: ]. B. Young, Chicago; and James