The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-08-12
The Head of the Firm on the Value
OF the Estate.
BRIGHT FUTURE FOR NORTHERN PACIFIC
Amount Of Dividends Paid
and the Prospects.
ANSWER TO CHARGES MADE.

where he has been enjoying holiday OF three weeks
The writer found him last evening on the veranda OF
his son-in.iaw's residence. Chelton Hills and after
the fnancier had flushed his fsa stories and his
cigar. nsinuatingy asked him II he would submit 10
be interviewed?
"No," said The banker with laugh; 81 managed
to keep away from you newspaper men while the
creditors were holdiag their meetings ana don't
think that there anything lett Tor say. Just
how brown my hands are went fishing for six
teen days OF twenty one and never had better
time in my Iiie."
The interviewer saw that fish story was about to
be perpctra.ed and interrupted the speaker as pc.
ltely possible with another request ter ga business
talk"
WESTERN LANDS.
"Thsre are good maAy things said l, "aoeut the
estate that explain well as yourself,
Mr.. Cooke, and II you answer lew questions
think that many of the creditors would be pleased
About those Western lands, for instance. which Mr.
Lewis says won't be sold for fifty years. How many
acres ore there yet unsoid?"
''Abous one hundred thousand. 1 don't like this
idea of interviewing; but perhaps eau clear up a
point or two. The creditors ought not to complain
about the sales OF land thus far. They must
remember that while emigration to the North
west is undoubtedly largo still there many
railroad companies competing sell land,
yet unsold. Ihavs every TO believe tina. the
trustees have sold rapidly and judciousiy as pos
siOe The creditors hardly need to be told that It is
extremely difficult to sell any real estate at present
These estern lands lie In Minnesota and Iowa. and
other States car by; they are all choice selections;
some OF them we have owned for over twenty years.
and, under the new plan which has just been adopted
by the committee and trustees speedy disposal or
distribution Of the lands ana other portioos the
estate will be made which will be OF great advantage
10 the creditors 1t is plan that have favored Tor
moro than year, and the creditors who purchase
lands with tho scrip to be issued Will realize vastly
BY holding and waiting Tor oilers than II they
force sales before there is "a demand.
DIVIDENDS PAID.
"what amount OF dividends has the estate paid to
the creditors thus tart ?"
sIn casa Eve per cent, thirty-ave per cent In
Northern Pacific preferred stock and nty cents The
dollar which would realize at the market price to-day
say twelve per cent tho caims fourteen per cent
IN Oregon Steam Navigation stock, whicn IS worth
with the dividends paid the full amount Of fourteen
per oent-thirty one cent in aland the trustees
ready declare another cash dividend OF i've
per cent fifteen per cent orthern Pacific preferred
stock, worth about two and hall per cent OF the
claims, and eight per cent in ST. Paul Duluth pre-
ierred stock, worth say half per Of the
claims. This. added to tho thrty-one per cent
previously paid, makes dividend Of forty per
cent OF absolute Value at the present low
market prices. The new plan coptempiates the
grouping into one fund Of all the Western and
other lands, the Ogentz property and many other
large properties, all bonus aud STOCKS naming
unsoid, winch could not be easily subdviaed any
other way. l believe that the market value OF these
assets viii NOS be less than fifteen per cent
II this realized II will show actual cash pay
OF from fifty ntiy live cent over and above all
expenses, even tho parties be compelled to realize
NJ once"
MR.. COOKE VERY sANGuiNE.
sis there any likelihood OF tho Northern Pacific and
81 Paul ana Duluth STOCK advanoingY"
al regard the present price OF hose stocks merely
nominal ana believe that ny AJudicous transferring
bic line that Tue orediors vii realize fuiy loo nsr
cent OF their claims"
.whai your advice to creditors in regard to this
Nortnern Pacific stock ana the scrip TO be issucdf"
sMy ADVICE unIiormly has been ana sull Is 10 hold
on each ana all Of the securities. Those who
do should convert the Northern Pacific and ST.
Paul Duluth stock into the valuable lands Of
companies lying contiguous to the roads. Many havo
already. and there are innumcrable inst anccs
where they have realized the iull par value OF thor
deposits with Jay Cooke Co., and In some instances
from my to hunared per cent addition. have
great col ndence rapid advancement OF North-
Pacihc preferred sIock, as Is receivable by the
COMPANY The same AS greenba al It's par value Tor
choice wheat land aud beng largely placed on these
lands aud c. ncelIed.'
swaat nave the land sales OF the company amounted
Nearly u milton acres at m average OF SO per
This "a very low price even on n cash valua-
uou. Ibe amount was liked by j. Edgar Thompson
add my self several ago, and has never
creased, although II 10 usual ana 1t was contemp ated
Al .n. lime 40 advance the price 81 per acre every
two years."
x,ocs ~
"a nave AIN ays MT Al a God investment at $40
Der sbar. at wnioh rate II was purchased by our nr
..a rs neen dis RIM ea 10 HE creditors IL mas
already PAD avlieads ,n,s year amounting 20 over
,x.uly per cen, IN poId ana sumo that II VIII
nav q, n.r a,v d. mis- before the ear Is outU
NORTHERN PACIFIC.
luu las reA IaIl N he PACING
,nte,ur.,y'
aye. regard a ma The hest ma safest ad en-.
,.spfise Al, tse counlry: an Iac It N The only ral.
rad w,thoaf pouaey or olhar dent IA IA. mag-
n an, rad ve ana Iuli eou,p,u.nt ana vast wealth
al ~ lana. ,st.t, OF xuIe tne,c arc al least eight
miles acres already earned anu uusold.n
.lihx n,ucn of ne road ~ vuiit yD
nfrclaIlnp branohe. NOR. Ian slx hrnd ed ntles
ave, ~Ate1 an. A. ar, now ruuning daily ana large
a. qr1ss,as n. exist and n. con s,sntly SPRING
la a alag he i'm, A iacl moi generally known Is