Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1880-12-31
THE ST. PAUL s. MANITOBA.
A ST. PAUL COMPANY.

THE ST. PAUL s. MANITOBA.
ST. PAUL COMPANY.
The st. Paul, Minneapolis s. Manitoba
railway company is in its organization as
by its business interests a. st. Paul COM
pany Its lines traverse and are develop
ing the regions of the Northwest from
which st. Paul will most surely draw in
crease of its commercial and manufacture
ing business, and hence a review of the
condition and progress of this company
will serve to show to distant readers one
of the chief supports of the commercial
supremacy of st. Paul. One main line of
this company's railway crosses the State
from st. Paul to Breckenridge on the
western border, and then follows the
eastern side of the valley of the Red
| River to the northern border. The other
runs from ST. Paul up the Mississippi
TO the best water power above Mimi
eapolis, then crosses the State through
the beautiful park region and entering
| Dakota at the fiourishing young city of
Fargo, follows down the Red River valley
on the west side. The company's branch
dimes are entering Dakota at three points,
| furnishing the shortest lines to the city
| from all parts of eastern Dakota. and
their contemplated extensions promise to
connect the best part of that Territory
with ST Paul.
The directors of the company are Geo.
Stephen and Donald A, Smith, Montreal;
N. w. Kittson, ]. j. Hill, r. B. Angus
and r. B. Galusha, st. Paul; and o. HI.
| Northcote, New York Executive com
mittee: N W. Kittson, II. B. Angus, ]. J.
Hill and r. B. Galusha. The company
and executive officers are as follows: Geo.
Stephen, president; r. B. Angus, vice
president; E. Sawyer, secretary and treas
urer; R. B. Galusha, solicitor; Jas. J.
Hill, general manager; E. B. Wakeman,
general superintendent; G. c. Smith,
chief engineer; w. S. Alexander, general
ticket and freight agent; S. s. Breed,
auditor; G. E. Furness, land commissioner
| All the general offices of the company
are located in st. Paul.
| FINANCIAL CONDITION.
The company's only issue of stock (com-
mon) amounts to SIS, 100000 Its bonded
debt amounts to 1924, 300, as follows:
First mortgage, st. Paul to St. Anthony,
due September /, 1881, s per cent, $780,
900. First mortgage, st. Paul to Watab,
due July 1, 1892, per cent, 1856, 00O
First mortgage, entire road, due July 1,
1909, Z per cent, $7,S3S, 300. Second
mortgage, entire road, due October /,
1909, per cent, ss,OOe,00O The COM
pany has no floating debt, except its
monthly pay roll and current account of
materials purchased, which are more than
covered by cash on hand and accounts re
ceivable. The foregoing is from the an
nual report to the State railroad commits
sioner for the year ending June 30th last,
and applies to the lines then in operation.
Since that date the company has arranged
for further issue of bonds for construc
ton of branch lines in Minnesota and
Dakota, secured by mortgage upon the
new roadway, and to be issued as the
same is completed at the rate of SIS, 900
per mile
| EARNINGS AND THEIR INCREASE.
The earnings of the st. Paul & Mani
toba railway in,the year ending Jnne 30th
last, lat which date the company had in
operation $50 miles, having built SO miles
during the year, amounted to 81, 933, los. :
"a, allowing an increase of $1,032, $40. 26
over the preceding year. The operating
expense of 1S79-'S0 was A. 33 per cent. of
the earnings. The following latest state
ment of earnings, gross and net, of 1880,
and comparisons will further show the
continuing increase of business
Earnings, s months ending Oct.
81, 1880. Observation-Disclosures. 1924, $50 03
Operating expenses and taxes. 1,245, 239. 81
Net earnings ............ 81 ,O02, $40 46
Increased earnings appear as
follows:
July to Dec 81, 1880. ...... $1,646 10
July to Dec. 81, 1879. 1906, $50. sc
Increase. ................. 351, 0s5.53
Eleven months ending Nov. 80,
1880. ................... 49,. $3.50, 1O4 &C
Eleven months ending Nov. 30,
1879. 1853, 9O7 81
Increase. ACKNOWLEDGEMENTS. 49O,197 As
Five months ended Nov. 80, 1880. 81 40, 5SS &c
Five months ended Nov. 80, 1879. 1,173,232 Is
Increase Observation-Disclosures PSI 1856 %
Earnings of November, 1880. IS 30O,675 09
Earnings of November, 1879. 226,695 rs
| increase ......S 1913 81
First three weeks of December,
1851. ......... 222,227 ~
First three weeks of December,
| 1919 Io1,25o 80
increase SJ,SS5 20
INCREASE OF MILEAGE.
The Csc miles of road operated by the
company June 3Oth last was made up of
the main line, st. Paul to St. Vincent,
1893 miles; ST. Paul to GAINESVILLE, 237
miles, and Crookston to Grand Forks, 26
miles. Since then the company has COM
pleted and within few weeks past has
put in operation the following branch
lines: Morris to Browns Valley, Al
miles; Breckenridge to Derbin, 4s miles
GAINESVILLE to Moorhead, % miles; Grand
Forks to Ojata, II miles; and Grand
Forks junction to Hill City,