Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1874-07-18

it will thus be brought to market. The
Skookum Chuck Coal Mines may be
opened soon, and in that event the sue
cess OF the road is certain. Those coal
fields must inevitably be developed in the
course of few years, if the time has not
yet come; but in any case sufficient coal
to meet local demands would he shipped
at once. The prospects of extending the
road, although well worthy attention,
would open too wide field to be entered
upon here. The Northern Pacific Rail-
road, between Tacoma and Kalama, is
now paying more than expenses, and can
not the Olympia and Tenino Railroad,
with one-sixth the length of road-fifteen
miles, VS.. one hundred and tve-and a
line thirty per cent. cheaper to operate
per mile, gauge feet, VS.. 4 fectS inches,
obtain one-sixth as much business as the
former?
TIE BONDS NECESSARY.
The Trustees of the Olympia Railroad
Union would dispense with the bonds
entirely if they could accomplish any,
thing without them. The feeling among
the Trustees is almost unanimous that it
would be better to abandon the whole
enterprise than to undertake to build the
road with less amount of bonds, for it
would he mere waste of time and effort
to make the attempt. $40, 1000 will be
required to finish the grade, pay right of
way expenses, furnish ties and prepare
everything for the rails, and $1O5,OOO
coin, more for iron and cars The former
amount must be subscribed and worked
out by ourselves. The latter will have
to be raised Oh the security of the graded
road bed, the lands, and the contract for
bonds. Nor is it yet known who will
advance this money, or whether indeed it
can be raised upon such security.
The California coal company, rep
resented by Gov. Solomon and Col. Bee,
decline to consider the matter until they
shall have thoroughly tested their coal.
They propose sending 1000 tons to San
Francisco and thus practically demon
strate its quality and value by actual use.
Several months will be required to do
this, and should they decide to open the
mine, we then have to meet the competi-
ton of the n. Z. II. II. Co., which will
never allow that coal to pass over another
railroad if it can prevent it. No effort
has yet been made however to raise
means. for the reason that until the bonds
are voted, the prospects of the road are
too uncertain to lay before anyone.
The following extract from a letter
written by gentleman in Portland who
represents much foreign capital, shows
some of the distrust and want of infor-
nation which must be overcome:
GENERAL STEVENS:
Dear iSir:-
X
"Meantime please tell me what rate of
interest you offer? What terms for ne.
gotiating the loan? Say also whether the
Thurston County Bonds are to he taken
up for certain?
Believe me the opposition to your road,
or rather the public's unanimous opinion
that it won't pay and never will, affects
very much the security in the eyes of my
constituents, who told me to see you
about the matter, but did not give me q
promise it would he taken up. 1t was
who suggested the transaction to them
some three months ago, before you wrote,
but since then the answers from Portland,
New York, and elsewhere they have re-
ceivei were so dscouraging that l ques-
ton whether they will take it up.
Personally, have confidence now
which had not before that the undertake
ing will nay, and hence shall do all l
can to get you the loan"
Should the California Coal Co. decide
to work their mine, their interest will be
identical with ours in demanding the build
ing of the Olympia-Ten Railroad, and
we can undoubtedly agree upon terms
mutually advantageous. But after the
dear bought experience of Olympia, self
respect and prudence forbid our waiting
upon the motions of others. We must
depend chiefly upon ourselves, and if dis
appointed in one quarter, turn to another,
not ceaSing meantime our own exertions,
but growing stronger and stronger, until
our efforts are crowned with success.
HAZARD STEVENS,
President o. II. r. Union.
Olympia, July IA, 1874.
AN ExcURsIoN.-A few days ago, by