Huntington independent. [volume] (Huntington, W. Va.) 1871-1874, 1873-10-02
The Northern Pacific.

The Northern Paciic railroad Com
pauy, to the connection With which,
is attributed the financial failure OF
jaw Cooke & Co., was chartered by
Congress on July 2, 1864, and au-
thorized BY its charter and subsequent
acts to construct q road from Lake
Superior through Minnesota and the
Territories Of Dskota, Montana,
Idaho and Washington to Puget
Sound, by the valley of The Columbls
river through Portland. Oregon. 10
aid of its construction Congress made
a grant, estimated to amount to AZ
900, 900 acres of alternate odd sec,
tiops of land for forty miles on each
side of the lius ofthe proposed road.
The authorized capital Of the COM
panyis SlOOOOO,OOO, in shares of
500 each. Of this amount $1,000
600 were required to be subscribed
and 10 per cent. paid in before the
organization of tie company. A
mortgage has been created upon Its
whole property, icluding its lands to
secure the Iaymeut of bonds issued,
at rate not to exceed $500 per
mile. These bonds are dated July l.,
1870, and are payable 10 30 years, in
gold; the interest, which is ct the
rate Oft $40 per cent, payable 10
gold in New York, half yearly, Jan
uary |, and July /. The Northern
Pacific company owns a controlling
interest in the stock Of the st. Paul
and Pacific road, and it has also
leased or become owners Of the Lake
superior and Mississippi railroad,
which extends from St Paul to DO-
lutb. The officers of the Northern
Pacific company are as follows:
President, George W. CaSs, New
York City: President Vice Presinent
Charles b. Wright; Vice President
on Pacific Coast, Richard d. Rice.
Secretary, Samuel WilkesOn; Treas
urer, Albert l.. Pricbard. Land
Com missioner, William A. Howard.
Trustees of bondholders, j. Edgar
Thompson and Jay Cooke. ,
Directors-George W. Cass, New
York; Charles B. Wright Philadel-
pbia, Ps., Richard D. Rice, Augusta,
Me-; Frederick Billings, Woodstock /,
VT, William G, Moorhcsd, PhiIadel-
phia, Pa; j. Gregory Smith. St. AL
bans, VT; William b. Ogden, New
YORK; William Window, Winona,
Mimi, A. II. Barney, New York;
r. p. Cheney, Boston, Mass VIII
liam G. Fargo, Buffalo, New York;
James Strinson, Chicago, Iii Albert
H. CetIin, Burlington, VI.
Executive Cummittes-GeOrge W q.
Cass. Chas. b. Wright, Richard ID.
Rice, Vim. 6. MoOrbead, and Fred
rick Billings.
The rolling stock is ss follows:
Locomotive engines, 72; cars-pass-
engers, 10; baggage and mail, g. im-
migrant, 4; dumps, 80; freight, plat
form, l,l3O; box, 395-totsl cars,
I1576. The road being in process oi
construction no account of earnings
can be given The expenditure has
bee n as follows:
Surveys. VI W., % 20
Construction tVo' - - ~ :.
Rolling STOCK. :.'. - - - ~
Tools machinery and stock supplies. soo s30 W
Harbor improvements at Duluth. So, 065 "A
The work of construction IS pro-
eeediug at both ends of the line OF
the eastern end, beginning at Lake
Superior, 453 miles, extending to
the Missouri river, have been com
pleted, aud on the eastern end ct
mile of the line between Columbus
river and Puget Sound has been com
pleted in Noveu Der, 1879, making
total length Of line iu operation o.
5l9 miles. Negotiations are now IL
progress for contract to build abou
eighty miles more down Puget Sound
aud two hundred aud eight mile
from the Columbia river eastward t
Lake Pend d,Oreille.
q. Tn