Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1879-08-22
The New Corporation.

An important change has recently
transpired in the management OF the
several ocean and inland transpOrta-
ton compaui' son,he Nor.hern Pacif-
ic Coast. The following details bear
irg on this subject may not be min
terestlns to our readers. We give
them substaut ally as we find them
in all exchange:
"Tbe several properties of the Ore
gon Steamship Company, the Oregon
Steam Navigation Company and the
Walla Walia < Coiumliu River Rail-
road COM any have recently been
consolidated under one management,
passing into the control Of ;he Ore
gon Railway and Navigation Compa-
nv. The last namel company WAS
incorporated June ID, 1879, under
the laws of the SAFE ,f Oregon, the
incorporates being Henry Willard,
Artemus H. Hol,nes, Vim. H. Star
buck, James d. Fry, Christian Boris
and Charles E. Brether;on, of New
York, and II. ". Corbett, c. II.
Lewis, j. N. Dolph, Pau Schulze and
H. Tnielson, of Portland, Oregon.
The capital stock is Sc, 10000.
The Oregon Steamship Company
is an ocean line between Portland
and San Francisco. The new com
pany controls its entire property,
consisting of extensive warehouses
and docks at Portland, and foui new
first class iron steamships, having an
aggregate tonnage or 5000 tons.
The Oregon Steam Navigation Com
pany is steamboat line on the CO.
lumbia and willamette rivers, aud
of it's SO, 900 shares of capital stock,
the new company owns 10000. Its
property embraces 20 steamboats,, IL
barges and whartboats, the two rail
road portages on both sides OF the
Columbia river. at the Cascades, the
Dalles e. Cello Raiload, valuable
real estate, and $50 miles of tele-
graph line from Portland to Walla
Walla. The company owns Six
seventies of the stock of the Walla
Walla and Columbia River Railroad,
which road runs from Wallula to
Walla Walla, and with an extension
(under construction of 20 miles to
Weston, includes q total of so miles
of road, and also q controlling inter-
est in the Willamette Transportation
& Locks Company.
The Oregon Railway e. Naviga-
ton Company proposes to construct
about 200 miles of narro~ -guage
railroad, with telegraph lines, of
which about 80 miles will be an ex-
tension of the Walla-walla & Co.
lumbia River Railroad from Walla-
walla, il Washington Territory, in
northeasterly direction, to Dayton
and beyond; 120 miles Will extend
across the Blue Mountains, from
Umatilla, through the Grande Ronde
Valley, in southeasterly direction,
to a point on the east State line of
Oregon, toward Boise City, Idaho
City, Idaho, and the remainder will
form a new line through the so-called
Palouse country, north of the Snake
river.
The line of road which is intend
ed to be built to the east State line
of Oregon, will be in position to
connect with the Utah & Northern
Railroad, which is now building from
Ogden towards Boise City. The
Utah & Northern road is controlled
by the persons interested in the
Union Pacific Railroad Company,
and by connecting with the Oregon
Railway, when the two roads are
completed, an outlet to the Pacific
Ocean will be given to the Union
Pacific road independent of the Cen
trail Pacific.
For purposes of construction, the
Oregon Railway a. Navigation Com
pany proposes to issue and sell first
mortgage gold bonds, bearing inter-
est in gold at the rate of per cent.
per annum. A first mortgage of
$4,000, 900, secured upon all the pro-
perty, real and personal, cf the COM
pany, has been created, the Farmers
Loan q Trust Company being the
trustee. A sinking fund is to be
provided of l per cent. per annum,
the payments to begin May l, 1880.
The bonds are offered at 80, with q
premium i'll stock. 1t is said tina,
the company has successfully placed
large amount Of the new bonds.
Tup paopla of Aotnr;o oro .lo,ou