, 1874-05-07

lots at specializing prices exclusively 4
the benefit Of the Stockholders in U
Ring. who did not realize q much fro
the sale a. was sunk for the railrol
fund. That town is now nearly abar
doned; the grand hotsl, and the elegal
building constructed at the expense {
the railroad for the headquarters of il
local officers, and occupied in commo
with the Land Ring. free of expense t
the latter. stand empty and decay:n
monuments of the fslly or dishonesty Q
the enterprise, three Of the conhdentia
clerks Of the Superintendent Of the Rail
road and Agent Of the Land Ring. ar
fugitives from justice. having hAd Il
other parts. under indictment, by thei
own confession. for robb;ng the treasur
box of Wells, Fargo & Co.'S Express
entrusted to them for transmission b,
railroad; the entire property of the towi
would not to-day sell for one-half th'
cost of the improvements; every private
individual who invested money in it ha,
sunk the largest portion Of his invest
ment, and the Company and the Land
Ring. have together removed their head
quarters to another field of operations,
started under tie same auspices and
without single advantage or indication
promising any more favorable results;
the only difference is. that few. if any,
innocent purchasers. will be fooled into
investing in Ring town site under the
mistaken belief that the location was
made in the interest Of the Railroad. or
for any other than purposes Of private
speculation.
I'd. The official representatives Of the
Railroad Company. acting under direct
authority such as would legally lind
any principal by the act Of an agent.
entered into written agreement with
the citizens Of Olympia, for certain spe-
cited considerations in value received.
to construct the railroad directly to that
place from the Columbia River. The
surveys were made, the road was locat-
ed, the terminus upon the water front
and then, after keeping the
people in suspense ami a large
amount of their property in bond for
two years. to their great damage and in
the Company deliberately
their contract, without ex-
planation or offer of indemnity. treating
all remonstrance with an insolent tone
and assumption of superiority which
added insult to injury.
Sd, The Company has constructed.
equipped and put in operation about
100 miles of railroad, from nowhere to
and for no other practical
purpose than to assist the members of q
Land Ring to enrich themselves by the
sale of speculative town lots at either
end of the road. at places where nature
never intended and art can never make
cities. The railroad is now
running between these two points, at q
dead loss, in operating expenses alone,
Of not less than $1,000 monthly. The
amount expended upon this road, under
iudicious management, would have con-
and equipped railroad from
Portland to Olympia, commanded four
6fths of the rich trade of the Willamette
Valley by sea. and paid handsome divi-
dends upon the investment. The same
amount would have made Q railroad
from Seattle far into the Yakama Valley,
opening an almost boundless trade with
q country surprisingly rich in resources
and now almost literally bottled up
from any commercial relations with the
outer world. Instead Of this, the money
was expended in such manner that it
would be difficult to imagine any other
way in which it could be expended to so
title public advantage, or so little prof
% the railroad. The closest observer
will fail to see wherein Washington Ter
.itory has profted by this railroad in
my of its material interests. No inter
crest has been considered or promoted
,ut the interests of foreign combinations
# land spectators. organized to prey
,pon munifcent Government subsidy
o grand public work.
4th, The Company. after long years
4 triAing with public expectations. has
inally announced the location OF the
vestern terminus Of the railroad to the
of all reasonable hopes.
nd the utter destruction Of the last
'estige Of confidence in the integrity OF
he Company. The facts open to the
public warrant the assertion that no
more disreputable fraud was ever at
tempted by "Peter Funk" in mock
.uctlon of galvanized jeweliy; it is fully
rs corrupt as the Credit Mobilier. with
put the dignity or blandishment Of the
atter-a conspiracy Of sharpers Of
lower grade.
These are in brief the results Of three
years of the operations Of the Northern
Pacific Railroad Company upon this
coast. The people Of Seattle felt the
disappointment more keenly, perhaps,
than any others, because they had the
most to hope for; but they were the
first to feel the rebound and to recover
con6def bee in their own energies and re-
sourcei ITO be continued.]
RAnRoAD RElGINIscENcEs.--But a lii.
tie over nine months ago we publish
ed telegraphic dispatch announcing
the location of the terminus at Ta-
coma, and closed our remarks upon
the same with the following sugees-
ton:
0Under these circumstances Seattle