The daily intelligencer. [volume] (Seattle, Wash. Territory [i.e. Wash.]) 1876-1881, 1879-06-12

the Northern Pacific Railroad Company
by Charles B. Wright will command
the attention of the nine thousand
stockholders Of the great corporation.
The reason for il, the threatened loss Of
MS sight by catarac. forming over both
eyes. will excite the sympathy OF the
public as we'll as Of his associstes in the
tran'continental enterprise by the short
est route. He will go to Europe in June
to get. by travel. In complete freedom
from Official anxietics and business
cares. the strength to undergo al oper
alton for the saving OF his sight and to
aid in his cure The best wishes Of
thousands Of his couutrymen will 60
with him.
Charles b. Wrights services to the
Northern Pacific Railroad Company, Of
which he has been the head for fve
years. have been immense. He took the
office after the bankruptcy Of the com
pany' $ fiscal agents. and when the enter
prise va, checked by IN utter loss of its
means to continue construction and the
destruction of its credit No condition
could more severely test the capacity of
a man 10 preserve great corporate
property - to carry it uuimpaired
through q period OF unexanplcd de-
pression--to li!t II steadily out of debt
and shoulder il to solvency. recognized
national consequence. and the assurance
Of final succe-s All this Mr. Wright
did. When the company suspended
payment Of interest its floating debt
t.A hal cf
dollars. and its bondrd debt to thirty
one millions.
Men of aff,irs will ie.l that i. WAS
masterly manaSement that saved the
corporation from suit on any ami every
portion OF its great unfunded indebted.
ness. Not an action WAS brought. Mr..
Wright postponed. compromised. car
ried by part payment, payment OF in
terest, by renewal of principal with Sc
curity. by p.ymrnt with the C mpanys
assets or its stock, every dollar Of the
immense sum pressed on the company
for liquidation. Without paying a cent
Of costs. ard without having the prop
erty Of the corporation attached, levied
on or taken in execution. be wiped "ni
the floating debt ot four and bali mil
lions IN less than five years after he I, ok
oflicr. Within that time thirty milliO s
out o. the .hirty-two millions OF the
M any, outstanding bonds we're con
verted into preferred stock. and the ac-
cumulation Of interest debt stopped.
Within that time b. presided over the
sale of 23l771l acres OF wilderness
land. part of the domain Of the company.
ani saw it rapidly go under the pillow.
When be took Office the common stock
of the company WAS selling at II. II
has sold at Isl The price Of the pre-
ferred stock went up under his prcs'-
dency from 10 to AL
HIS tenure of Office witnessed many
of the most noteworthy events III the
history Of this national enterprise. At
the lowest ebb of personal and cOrpo-
rate credit he finished against he time
Of punitive act Of Congress the con-
nectioh between the Columbia river and
Puget Sound aud saved one Of the most
valuable aof the company's chartered
rights. The road to coal Mt Wilkeson.
w-s built. aud the branch across the
Cascade Mountains started on thirty
ono miles Of its distance during his
presidency. The Brainerd branch was
built on the Atlantic side Of the Con.
tinent, and winter connection with New
York and the seaboard established
through st. Paul.
In his term Of Office the intricate aud
perilous complications with the st.
Paul and Pacific Railroad, involving the
trade with Manitoba. and harmony Of
relations throughout the northern half
Of Miunesota. were protitatly harmon
ized and adjusted. He organized the
company to control the Pacific terminus
Of the Northern Pacific Railroad. COW
ering 1900 acres Of land. He made
the docks aud created the hsrbor facit
tiles Of Tacoma. the Northern Pacitc's
seaport on the Pacific coast. Before he
left office the work Of construction Of
the road was resumed. and one hundred
miles in Dskota toward the Yellowstone
and twenty. Eve miles in Washington
Territory were put nnder contract. and
the scheme for building the Pen
d'Oreills Division. 209 miles long. be-
tween the Rocky mountains and the Co
iuIn DtA ItNCI, W HS nItubkCA obo so'eu-
He took office Is the president of q
bankrupt corporation which nobody
would trnst. He leaves it in the posses
sion ot . credit which makes ironmast-
ers. carhullders. railroad contractors and
locomotive manufacturers eager comps-
titors to do work for and supply mate
aiAl b it on its simple promise to pay.
-PhilAdelphis Enquirer Of Msy 10th.
Nh. MARTIN Was conductor on the
Burlington. Cedar Rapids and North
srn railroad. He 10 = church member,
and puts his faith in the Lord. He
arose in . revival meeting at Pottsville
the other evening and told What the
Lord had done for him. Among other
things. he said he ran his cabooss car
from Cedar Rapids to Pottsville With.
out Aange on one wheel. He bad
faith the Lord would keep the caboose
on tho track, and He did. 1t WAS not
long after he received an epistle from
c. j. Ives. General Superintendent.
which began thus: Young man. l don't
believe the Lord has anything to do
With ruuuing freight trains" and now
Martin has no caboose to trust to the
Lord.
An EDITOR has one advantage over a