New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1875-03-19
LOCAL MISCELLANY.
THE NORTHERN PACIFIC RAILROAD
SCHEME.


rRTY URGED--A COMMITTEE OF SEVEN AP-
POINTED TO CONFER WITH THE DIRECTORS.
The meeting of the bondholders of the
Northern Pacific Railroad held yesterday afternoon
In the Board Of the COmpany's Office, NO 20 Fifth
ave. The room was inconveniently crowded. a large
number being compelled to stand In The hallway ana ht
the doors leading the adjacents apartment seVera
Millions Of dollars represented from ali parts oi
the United States the meeting remarkably mar
monious, a general feeling OF confidence being mani
tested in the merits Of the enterprise and in the value
OF the property. An eqnay strong feeling OF conhience
was expressed by those present in the integrity ana
ability Of the management, and there was strong 0e
sire shown throughout the session to put the ROAD
through AT the earliest possible opportunity
George W Cass the President the Northern Paclhc
R,road Company called the bondhoders present TO or
der aud mentioned fact that there was present the
Hon. L. D. NJ Sweet OF Maine, WHO had been Intimately
connected with the legislation IN the congress WDich
chartered Northern Pacific Railroad and started the
enterprise. He therefore proposed that Mr. Sweet
should preside at this meeting Of bondhoders, which
proposition was accepted made into a motion. and
adopted Samuel wilkeson appointed the Secretary
OF ;he mceag after which Mr. Sweet briefly addressed
the bondhoder, and the call for the meeting was read
Presidenu Cass then addressed the gentlemen at
length on the advantages Of the route of the Northern
Pacific Railroad, and the great value of the property
when the road shall have been completed He cited the
Union Pacific Railroad as a oil comparison. and
stated that Northern Pacific road would be better
than the Union Pacific road account OF having lower
grades stragnter line, better lands, and richer
minerals more and better COAL N@stly more u1iuel,
b,iter climate, less snow, better agricultural aud pas
bniiiipc lie said that the NOr,hern Pacific Railroad
Company had earned the following lands: From Tue
miles al sections OF 1850 acres 10 the mile 2y4SOJJ
acres. less one-ha!i, the tue OF "hIrn Is
xthb,l until Lake Superior Is reached, loaNlDg
10000 acres; from Moorhead TO Bismarck, IN DAKOTA
ias miles AZ 40 sections or p coo acres 10 Ae in, ma
fCll
to rtcona los miles 40 25C0 acres L thc
MI r,ang Gss 600 acres shown. as a Total thIt the
a,,enV Is enuted to patents 922OOGO of land,
while total number OF acres OF Sahcl 4anus Hetu-
ing ~ the 53. miles OF road lOGs4t0 To satisfy
ibe CompAuys grant IN Minnesota tn,Te are within the
2Omile mit old number sections not Otherwise apro-
priAted or claimed amonn!nS 10 $1,000 tcIes. M ~
the Indemnity Limits OF 20 miles further teTe are SoVJJ
available The total sre1 IN ro Mp9 is pa
acres bcius excess of 23l7m acres
the GmRaIy Ss GTS hon eonesd LANDS d to c
COMPANY would add about $4,000 acres T. the aVGahe
ai.fypc the Companys io1I grant AuIn sofa. II
Dakota there will be- ho said 10 deficiency 1Ac Gov
NholIS ~ ro cIaved bv TWO cluses: inst t. CIV
erurent surveys LJt completed; second an act OF
fre " n3teIfs are is lci Tue Company denies
The legality Of this requirement, ANA mas no funds win
which to meet II. II valid About ouc-thlrd OF the
ConpanS : Land in Dakota is surveyed. The cost
- nroc1ring the certified lists of Lands fem the
local Uaed States land Offices. preparatory to apply
ing for patents is l! cents per acre Au approx mate
ain,ate of the cost Government surveys ~ cents
per acre for timber lanes ana cent? per acre 1Gr
prairie land. The total cool oil @ ,Ae C2uhS
earned grant viii be probably about $4,000 IAe total
es Of lard to March l. 1873. are a. follows: In Niuue
sota and Dakota. Slo.J acres ~ - ., per acre ~ n
ipe 8 Gcq sl5 AZ: in Washington T-rrtOry, 351i3 %
cr, al - per acre, making SJhS3' &c. the agGftCd
beug 5Ss acres. at tue average price Of $ 10
per a.r. rea.Llng $l9O3 o. Ihe total recc'ps rom
r"nsisiipc manly Of tae following items In
trst motJga bonds, which have been received ana
raucoci 81 $50; in lan1-wdTrlnt interest bonds,
.Ace 'au't eH satUt wed on bonds sIS4 7ls: in
lei =
oil winch viii De forfeited 10 the company ana m@st 81
liz .uaiudcr seeded with bonds, sl2Oi5 %. o. tie
sas m n nuesota and Dakota, 4lG5 acres were OF tim
Der land aud IT, remainder. or 2's0 acres 81 fGFlcu
mr., land or toe lands sOid, One-naf awe otcu
purchased 10! actual settlers ana O'Aels tSpeola! lVi
"a ,. proper to add, that view of the recent dscov
err o coal the COMPANY : land IN " ,hn-t"A Ter
ntory reports OF vhi,h az exceedingly fvSrl2f hoG
j A. regards the Qrahty and quantity o. t'e deposits all
s,s OF coal lana 10y The Company have becn sdspeuaei
unt more complete information can b. detained. 1b'
nnlrcil statement 81 the COMPANY, he shd was also
inter aug. There have been issued III hrst mortgage
I'D s5d bonds, S3lcjj 30 Of mich nave been surr,n
d~rcd hy The al Department for lands solG $2jl9 G
leaving tue bs@lce outstanding 81 3,iN'oo. Oi tle
~ 80 ' 70 20 cents on tae dollar Tao intere.t
dT'i1 %srTSn' bonds Gnd sesip gwen IA funding Of
coupons amounts to S>iSlSj %, l-s Sl5552 -. the
ioc balance outstanding OF S7'2, II. The noatilg
delt is SG47jo So bus o. tas amount si5oV IS ar.
de- $50 OO0 Is to TIE directors 10: money advanced
a. faI,h Pacific section after me inule OF Jay
Cootc 4 Co. III ls'3 Ius leave oh,y S-3t'oS IS que
ou.iie OF jhc Company az heating 1ebi Nir9 he. the
t.s
railroad company could make Tuc earnings OF the road
NJ. been a. follows: On the hnn"-Cta and DtEOta
M IN net cars Ii5o So on the PSnc DIVISION the
earnings been So-,i -. less tao expense. SG3
80 1rt Irnincs FOR the two DIVISIONS Sl2Lc5G
raItal STOCK issued u The date OF M~rcl It" 1885, IN
ali res of loo each have been "a 9d shares, maxi the
sros. amount OF S4,te1Gl1 Having made these state
mens ho READY aasWcr Az questions winch tue
boud lo, !ers desired o. pas.
sc,cr.i uliuportnt iuterrogatores were then made,
but were merely Cor the ppose ~ gaining clearer IN
dc.sfapdIug the uSGrc quet bj the President lrng
IL rerltk.. Nh. Lane OF N,W-Iotk Cttrcd preamble
49, tc mons tXpC.SN" oi c0'hdeuce IN tht Board oi
I.ra,. >. !tVrrs through ~ II President ana in the
rlna.c success of tn road; Uut Mr. shurh Of spring
d opposed LC motion I'm long speech, aEd ohred as
a suhstlt lte a resolution tsTuuug tie appontm"nt OF
- .b, .Sonl moi 10. $40, khuders and " hose
dirty should be 10 investigate all matters connected
win The road ANA port ~ al adlOu ncd meeting Ihe
TO ,Ss.gtious cNc,ied debate. IN winch Jdrrs Rst
nj Pa!atnc Bridge y. y Juucs Campbell OF J0hnstown,
Penn NJ Eastou. fcun j. BIlnt OF Pail tdel
ma aud Nj Lane OF New York, took part all the
some and impractlcaOe. {. G. Coin OF Boston, Mass.
sand he thought the matter could be -ed without
40 much machinery, and as the meeting had con
ndcpcc IN their Chairman, he would move tnat
the Chairman appoint committee OF seven To
Confer vii. tue directors in regard 10 the
manage % thc road and the present aid fuidre Ia
the DondhoieiS the c3nmlttte 10 rep1rt at
some future meeting Tins motion MI Shurtlh OPP
posed ana su urEel us sHGsuu'e' Nu'cl wa ataln
opposed by Nessrf Line Holmes j. ny Oi Lancaster,
aud n OF Bosom. Mr Lane hnaly agreed 10 accept
MI Cofhn's iesOl.IOH tie place of MS own, append
lug it. ly the sgSeeetIon Of D. hihS OF M!culcin;
90 he preamble winch lie Lad prcgi0u,y offered, aud
making TIE whole thc Cfeih9l iHoIOn' Nj oduitIH =
substitute was tEcn pu 20 vote &hu uhahiiLOus! le-
Jeced. the rroposr not HAVING tue courage to vote FOR
carried uuahimodsi' In tte 'O',0~luS shape:
Wh0t TIE Boaa Of Director 81 the SoIhtfn Pah Railroad
the baa OF 5e Northern Pacific Railroad
~ r.4s lie I Bossa has r~rorei to his meeting ta, IN their
oagmeu 'le 'sfn ana h,ji ad sii' .at DO dac-
-'b "a al and support q. the hoa'3e can wisely ana s
S.oiScG Chairman Of the sD?ata Committee
to