The Vancouver independent. (Vancouver, W.T. [Wash.]) 1875-1910, 1880-10-07

IL
Pacific railroad shows the total num-
Der of miles operated during the past
year to be 722 against 6i7 during the
previous year; gross earnings, S3,23o,-
lS1.5l against S1,406, ,2l0.65; eXpend-
itures, 81 ,521 ,0S3.25 leaving Il balance
of 500, 1SS. 60. There was spent during
the year for improvements, develop
ments and equipments, S5l ,l96, 800; in
terest Sl59, 53726, making total, in
addition to operating expenses, rentals
and taxes of SG7l, ,500.25. The report
states that the company intend to
build n new bridge across the Missouri
river at Bismarck. They have also
concluded a favorable contract with
the Western Union Telegraph Co. to
put line of wire along the road, the
railroad company to pay one-third OF
the cost, and retain one third of the
gross receipts; also to have their own
telecraphc business transmitted free
up to certain amount, the remainder
to he operated at half rates. The con-
tract is to remain in force period OF
l5 wears, the reprot also states that
the Lake Superior Elevator Co. have
established eleven new grain eieva-
TORS along the line of the road, includ-
ing one at Duluth, with II capacity OF
| LOCO, 900 bushels. Emigration agcn-
cies have been established ut Liver
pool, New York, Philadelphia, Bos-
ton and Chicago. According to the
treasurer's report the preferred stock
of the company had been reduced ON
June 30, last, by proceeds from sales
of lands to Si3,4l2, ,6l5.l2, of which
there was in the treasury rs an asset,
Si,1l1,S2O 10, leaving in circulation
$50 100. SlS.O2. The bonds outstanding
amounted on the above date to S3, SSl =
S34.4I. of which there have been since
sold about S520,O0O. The report says
almost the entire floating debt will be
retired this year. There are still TO he
comnlcted several divisions of road,
intending one of l20 miles from Thomp-
sons inlet in Wisconsin to Montreal
river. When these are finished II IS
stated thc company will have in oper-
alton 1904 miles of road and have IL
ties to $500 acres of land.
Sept. 30th the annual meeting OF the
stockholders of the Northern Pacific
railroad was held and the following
were elected directors to serve one
wear: Frederick Billings, Charles B.
Wright, Benz. Z. Cheney, Johnston
Livingstone, Jos. Diworth, Jos. ID.
Potts, Alexander Mitchell, Hugh Me-
Culloch, Ashbell II. Barney, VIM. X.
Garrison, Henry +. Johnson, Robt.
Harris and James Il. Williams. Res
olutions were adopted requesting and
advising the directors to provide rs
early rs in their Judgment prudent for
the construction, completion ana
equipment of the company's railroad
from the western terminus on the
Montreal river to Puget Sound, ana
for that purpose to use and employ al!
the resources of the company as far rs
required and to execute such mortgage
and mortgages on the whole or any
part of the line of constructed road
and lands granted by congress apper-
tanning thereto as shall seem to the
board of directors best calculated to
accomplish the early completion OF
the enterprise. The newly elected dl-
rcctors organized by elccting Fred
ericl< Billings president; samuel WIKI
eson secretary; Robert Belknap treas
urer, and George Gray general coun-
| sci