Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1879-07-29
CHAMBER OF COMMERCE..

called attention to recent speech in Eng
land by John Bright, wherein the great ad-
vantages of Minnesota were especially named
and complimented. The extract was as fol-
lows:
Let this commission inquire, if it can, how
it comes that the landlords of this country and
the farmers are not only alarmed, but in terror
at the produce in corn and cattle that has to be
brought 1900 or 5000 miles from the other
side of the Atlantic This ia question, I
think, that they may fairly examine, and I
confess that am not sure that the statements
made have been extravaganza or exaggerated. I
have met, within the last two or three weeks
two gentlemen very intimately connected with
these matters in the United States, and have
been very much startled by some facts which
ing occupied in Minnesota in the United States,
and within the Dominion of Canada, is of mag
nihcent quality. I am told, for the production
of wheat. Liverpool, at this moment, is as near
to these farms as Ne,0 York 1oas a short time
ago.
REGULATING RAILROADS BY LEGISLATION.
Mr.. Banning offered resolution similar
to the one submitted to the convention on
the 23rd inst, and referred to the comm. ittee
of fifteen.
The resolution was as follows:
Resolve1, That the State should conform by
legislation, and tho people, if necessary, by an
the right of the shipper to select his route to
market, over any railroad line in the State, at
equal and reasonable rates. and that this policy
established by law and firmly applied and adj
hered to, will aid rather than retard the con-
struction of our much needed roads. And
while it will give liberal and just compensation
to the roads, will save many millions annually
to the people by enabling them to select their
shortest and best route to market, and thus re-
move the danger and harsh railroad exactions
that threaten the prosperity of the State by
carrying its productions from 200 to 500 hun
bred miles out of its natural way to MARKET
After referring to the imperilled condition
of the interests of st. Paul and Minneapo-
lis, as well as of the State at large, Mr.. Ban
ming stated that it was only by such legis-
lation thaS the right remedy could be found.
Serious alarm has been created throughout
the State as another outlet to the lake has
been closed, and we are asking each othe,
what is to be done? The convention said
build another road from st. Paul to Lake
Superior, from st. Paul and Minneapolis to
the sault, build other roads from st. Paul
and Minneapolis into the southern parts OF
Minnesota. This is all very well to resolve
about In public meetings, but capitalists will
smile and say to you, your system of roads
connecting your commerce and trade with
Lake Superior will be a failure
because the lines leading to
Chicago and Milwaukee, covering
your territory,will while your laws so permit
allow no business to your short and direct
lines to the water. They will not carry tc
these lines, and the money used in theil
construction will be worse than wasted.
The st. Paul d Duluth road cost six mil
lions of dollars in bonds. Costly and large
harbor facilities were provided by the city oil
Duluth and the general government. Lines
OF boats were placed upon Lake Superior
everything seemed to promise to the State 8
cheap way to market. What was the result
The road paid its interest for two years
out OF the proceeds of the bonds
and then defaulted. It could moi
pay its running expenses. 1t sold its stump.
age. 1t sold it's land and applied the pro-
ceeds to keep it running, and day by day
was still losing money. Its bonds went
down to twenty cents on the dollar and
found no buyers. The bondholders fore.
closed the mortgage upon the road. A com.
mlttee on their behalf bought in the road
reorganlzed the company, issued
preferred stock in lieu of its first mortgaged
bonds and common stock in lieu of its sec
ond bonds and the road made another and 9
desperate effort for business, but the Michi-
gan lines would permit no trade to come to
1t but hauled the productions of the State
from 200 to 300 miles out of the way to
market-the Duluth road could get nc
business.
It's preferred stock went down to 10
cents on the dollar. It's common
70 $hroa ~kr H.
the road passed into the hands of those who
now control it. A few months since three
hundred thousand dollars would have pur.
chased the controlling interest in the road
and 1t could have been used to hold it's right
place in our railroad system and keer
open this outlet to the lake, but capital.
lists and business men here would
not touch it because they knew
that under our system it could get No
business.
It was safe to predict that with this OK
perience, if the laws of the State are still ia
permit this ruinous policy to continue YOU
can get no capital to build new road in
Minnesota to Lake Superior nor from st.
Paul and Minneapolis into the southern por-
ton of the State.
Mr.. President, the people should at once
and ere long certainly will demand q change
of this policy, even if they must reach it
through an amendment to the constitution
Though we may patch it up, twist and turn,
whltewash the question an inch thick-to
this complexion must it come at last.
After some debate as to the disposition of
the resolution it was referred to the commit
tee on transportation with instructions to
report in two weeks.
STATE FAIR.
A motion to appoinia committee of five
to wait upon our business men and urge
them to make exhibits al the coming State
Fair was carried, and the following appoint
ed: Messrs. E. ]. Hodgson, A. L. Larpen-
teur, j. w. McClung, B. Magoffin, Jr., and
John K. Davidson.
The committee will meet at Mr.. Hodpson's
Office, in Odd Fellows block, opposite the
custom house, at IL A. NJ. tomorrow and
proceed to business.
A veritable Old Settler Departs.
MIR. Hypolite Dupuis died few days ago at
Mendoza. He was native of La Prairie, Cana
d. and came to what is now Minnesota when
it was the home of the red man.
In 1888 he was married to Miss Angelic Rem
vile, by Rev. Thomas Williamson, missionary
at Lac qui Parle, and was afterwards married
by Rev. Father Ravoux, now of the cathedral
in this city, After his marriage he remained
for some time clerk with his father-in-law,
81 4