Sacramento daily record-union. [volume] (Sacramento [Calif.]) 1875-1891, 1880-01-17

way and Transportation Company. Bonds
are issued for SIX millions to make the pur-'
chases, probably the stock rises to Sll7 a
share, and 10 presto change! the invest
ment of brains and sharp management
pans out SO well that the six millions
are transformed into thirteen mill
ions in Wall street, New York.
If any of your folks know that seven mill
ions OF dollars was ever made easier and
quicker than that, please drop line. And
1t IS also said that the managers of the
Oregon Steam Navigation Company, few
years ago, turned several millions INTO their
own pocket full as easily. BY some ar
rangement, made years ago, the majority
OF stock-three-fourt | believe-was
turned over to Jay Cooke, the Oregon own
ers taking railroad stock and bonds in pay
ment. That was probably about the time
when Jay Cooke was writing to Oregon
as IS told-that he was intending to come
here in 1877, when the road should be fin
ished. | was shown the letter where he said
he confidently believed it would be finished
in three years. When this was anticipated
the Oregon Steam Navigation Company
men thought perhaps their tenure of mo-
nopoly was short, and so they made the
aforesaid trade, as it is said, with jaw
Cooke. When he failed and the North
Pacific Railroad Company seemed about
gone IN, they were left with only minor
Ity of the stock, but still held the man.
agement. 1t seems that Jay Cookies assets
were divided among his creditors, by which
the Oregon Steam Navigation Companys
stock was spread pretty freely over the
face OF the Continent. Then the Oregon
owners came to the front, established
headquarters at Philadelphia, and went
into the business of buying up this three
million of scattered stock, which, it is
said, they quietly accomplished for about
$500, 600, and lately sold it for the full
three million, which is a good story, and
tell it to spread abroad respect for Oregon
talent
A BONANZA.
The monopoly of the Columbia river de-
ponds on the possession Of nineteen miles
of railroad that could probably be built
for $500 000, and the land is there to build
more on, thought it don't lie very con-
venient perhaps 1t is not wide guess to
believe that this investment OF S400, coo
gives an annual return of four times that
amount. l have an idea that 81, 600 900
profit is inside the annual net earnings of
the Oregon Steam Navigation Company.
The Walla Walla railroad is another in
vestment that is said to pay for itself every
year, and the ocean steamers perhaps do as
web. With these properties in hand the
Oregon Railway and transportation Com
pany, it would seem, can well afford to
bald railroads without calling Cor assess
ments on stock or borrowing much money.
TO CONCLUDE,
1 don't see any use in living in a rapidly
developing country, and being a CORE
spondent for a first class newspaper, where
one has opportunities for gathering impor-
tant information, without rela1ing matters
of interest, and these matters are interest
ing as showing how the ''revival of trade"
and boom OF progress affect the North
Pacific region.
They tell me that the wheat is smiling
placidly at the warm rains, that the snow
fall prevented the freeze from destroying
the grass, and that the same comes out
again in good order to be eaten by stock
1t remains to be seen if the winter Will
prove very disastrous to the animal crea-
ton. c.