The new North-west. [volume] (Deer Lodge, Mont.) 1869-1897, 1879-08-22
Northern Pacific Railroad /.
Portage Lake Mining Gazette.


In connection with the announcement
that the securities of this company wer,
admitted, on July 80, to dealings at the N
7. Stock Exchange, the following state
ment of its affairs is published
n Common stock, 490, 900 shares, of the PAL
value of 500 each-total $49, 0OO, 600 and
preferred stock, 43s, 600 shares, $4s, 800, 600.
The authorized capital of the company is
500, O00, 900, divided into 400, 600 shares OF
common and $4,000 shares of preferred
stock. The preferred stock is receivable at
par for the company's lands, east of the
Missouri river, and ", 600 shares have been
so received and cancelled. OF the common
stock only 299, ,526 shares are yet issued, and
the company owns $4,000 shares of its pre-
ferred stock. The company has completed
and in operation of its chartered line $50
miles. 1t also OWES, by deed, the undivi-
ded half of. and operates, the railroad from
the junction with the st. Paul and Duluth
railroad to Duluth, Minn., "a miles; also
owns the controlling interest in, and ope-
| arate, under 80 years. lease, completed
railroad from Brainerd, on the main line, to
Sauk Rapids, Mimi, 60.5 miles; also owns
the pepetual right to the joint use of, and
operates, completed railroad from Sauk
Rapids to the city of st. Paul, 754 miles;
length of completed railroad, exclusive of
sidings, 72O miles. Its equipment is 55 To-
ccmotives, % passenger cars, IL baggage,
mail and express cars, 523 freight box cars,
$50 platform cars, Al stock cars, 100 coal
cars, etc.; value of shop tools and machin-
cry, $125, ,0o0; lands granted by Congress
to aid in the construction of the road-20
sections per mile in the States, and 40 sec
tons per mile in the Territories, through
which the line runs.
Lands already earned by construction of
road In the state of Minnesota, 2, 91S, 200
acres; in the Territory of Dakota, 4, 972, 800
aces; in the Territory of Washington and
State of Oregon, 2,7SS, 900 acres. Total
lands acquired by the company, and as to |
which no question can arise, 10,579, 200
acres; of which there have been sold by the |
company, 2,312, 900 acres. The company
has no bonded debt, and a floating debt |
(balances) of only 1886, ,S02, principally for
recent purchases of steel rails, besides an |
Indebtedness of $500, 600 due on or before
January /, 1897, for the purchase of the
undivided one-haf of the "a miles of the
st. Paul and Duluth railroad before men,
tioned, and which. with ipterest,is payable
in the company's preferred stock. The
work of construction is rapidly advancing
on the Missouri division, which extends
from the Missouri to the Yellowstone river,
about 205 miles. The means for this pur-
pose sre provided by the issue of bonds and
preferred stock. The bonds cannot exceed
$12 900 per mile of the division. and they
are secured by first mortgage on that d.
vision of the railroad and on the granted
lands applicable thereto, being very nearly
5. 250, 600 acres, in the Territories of Da-
kota and Montana. OF these bonds, $2,-
boo, ,000 and the same amount of preferred
stock have been offered by the company,
and have been taken for $2, 600, 600 cash,
payable on call, and 81, ,021, $50 of which has
been already paid in. These $4,000, 900 of
bonds are to be issued TO the subscribers or
,hier assigns, ratably, as they are from
lime to time received from tho trust COM
oany, and the $4,000. 900 Of the preferred
stock on full payment by him or them OF ,
lis subscription, and not otherwise. !
The construction of the Pen d'Oreille
livision. which extends from the Columbia
iver to Lake Pen d Oreille, 200 miles, moro
" less, is about to be begun; The iron for
70 miles thereof is now on the way to the
'acific Coast in sailing vessels. .
The means to complete this division are to
'e provided by the issue Of bonds not to !,
xceed $50, 900 per mile thereof, and pre- Z
erred stock. These bonds are to be secur-
d by a first mortgage on that division of
be railroad and on the granted lands ap-
lioable thereto, being nearly 5,500,000
cres, in the Territories of Washington and !.
daho and in the State of Oregon. Of these
onds, $4,000, 900 and 81, 4OO, 900 of the pre-
erred stock have been offered by the COM
any, and have been taken for $4,000, 600
ash, payable ON call. the first installment
+ which 90 per cent? was due August /,
B79. '