Daily globe., 1880-02-04

The above is the heading which the Louis
Vile C0misr-J0urRal places over an ex-
ceedingly valuable ana interesting four
column letter from st. Paul. We give the
following extracts;
THE ST. PAUL, MINNEAPOLIS & MANITOBA RAIL
WAY
is TO day the pride of the State, and is under
such management that it must soon rank as
one OF the most important links in the vast
American railway system. Tbs history of
the road, briefly is: It was organized in 1857
as one of the original "land grant roads,
under the name of the Minnesota 4 Pacific,
and met disaster, with others. In 1862, under
Legislative acts of 1861 and 1862, it was re-
organized by most of the original incorpora-
tors, its former grant OF six sections being
increased to ten sections per mile. 1t pur-
posed reaching into Dakota. westerly, and
Manitoba, through the Sauk valley, TO the
northwest. Ten miles of road were COM
pleted in 1862; ST. Cloud, seventy-five miles,
was not reached until 1867,
and the main line reached Wayzata,
on the splendid Lake Minnetonka, the most
famous of all Minnesota summer resorts, OF
late much frequented by Southern people,
the same year; the main line beng finished
to Breckipridge, on the Red river, in Octo
bar 1871. In this year the Northern Pacific
company purchased sufficient of the road to
enable it to increase its bonded debt of about
Sl5,000,OG0 to nearly $50, 100000, and, hav
ing squeezed the orange dry, defaHlted and
transferred the dry hi0e to the stockholders
Cha IS reigned and there was woe in Amster
dam around the Isspcidtsd CaSse. In
the vigorous language of a
railway official, for nearly
five years there was nothing b1t hell to
pay" But at last along came
THE MAN FOR THE OCCASION,
not altogether unfrequent individual for
American emergencies. This was James j.
Hill-"Jlm'' Hill, everybody here calls him,
previously merely known as an enterprising
partner os \. ". hittsou, in the Rad River
freighting business, and young gentleman
that some of these fine days will contest the
kingship in railway chess playing with little
Mr.. Go1ll, of New York.
Mr.. Hill first received the support of such
money kings as Donald j. Smith and George
Stephel, president OF the Bank of Montreal,
and then, by a series Of most brilliant moves,
not only obtained such legislation as would
enable the purchase by any railway corpora
ton, organized under the laws of the State,
of railroad franchises and property sold
under mortgage foreclosure, but 50 mauipu-
lated the bedeviied Datch bondholders rs to
enable the present owners To retire all claims,
consolidate all titles, and secure by absolute
decree all franchises and titles under Tore
closure sales: First-Of the branch line, st.
Paul to Sauk Rapids foreclosure of $780,,
000 mortgage; seoonj-main line, st. An
thony to Breckinrdge &c. 100000 mortgage
foreclosure); third-irst mortgage, $3,000,-
900, on first 150 miles of main line; fourth
branch line from st. Paul to Sluk Rapids
(Sl, 900 foreclosurej; and ifth-the st.
Vincent extension, to Manitoba via st. Cloud,
Sauk Center, Ale xandria, etc. (S15, 100000
mortgage foreclosure), consolidating, for
mere bagatelle, the various branches into a
great double-trunk line, penetrating and
crossing the richest portion of Min
nesota, eventually converging into
q grand single trunk lire as the only
outlet OF the vast northwestern empire,
which stretches thou sands of miles to the
west and north from Manitoba under the
title of the st. Paul, Minneapolis & Mani
toba railway, and backed by more ready
IN oney than any railway line of its age and
length in America. This organization, thus
completed, last June elected Mr.. Stephen,
president of the Bank of Montreal, presi-
dent; n. w. Kittson, vice president (who has
recently been succeeded by Mr. r. B. Angus,
who resigned the position as general mana
ger OF the Bank of MontreaD, and, very
properly, Mr.. Hill as general manager. The
L.
remarkable than the negotiations
leading to the present organization.
1t has completed its extension to st.
Vincent, gap of eighty miles: it has push
ed its Dakota extension, which is to pene-
trate the great wheat region northwesterly
via Fort Totten to the British line, from
Crookstou over the Red river to Grand
Forks, fifteen miles, and completed grading
quite distance beyond; it has reiaid its
track between st. Paul and st. Cloud with
5000 tons OF steel rails, while nearly 1000
tons have been used elsewhere; it has erect
ed forty-rine new elevators along its lines:
it has built numberless passenger and
freight depots, coal-sheds, section houses,
derrick houses, frost-proof water tanks, and
bridges; purchased hundreds of freight cars
and mlny passenger coaches whose
elegenco and fittings would
shame many of those on Eastern trunk
lines: its freight and passenger business has
increased 100 per cent; and most incompre-
hensible of all, it has done wha. would para
lyzs almost any other railway directory-it
has reduced both its freight and passenger
rates from twenty to twenty-five per cent.
The divisions and mileage are: st. Paul
to Breckenridge (the Red river,) 217 miles;
Breckenridge to Barnesville, 50 miles; St.
Paul to Barnesville (St. Vincent extension,)
216 miles: Barnesviie to St. Vincent Brit
ish bounday,) 10 miles; Crookston to
Grand Forks Dakota extension,) q miles;
total within tho State, eco miles.
Daring tue present year the company will
push It's Dakota extension rapidly toward
Fort Totten on Devils Lake, Dakota, and
will construcsAand equip before August l
next line down from Sauk Center on the
st. Vincent branch, in the beautiful Sauk
valley. southwesterly to Morris, where it will
cross its own main line, and from thence
nearly due west to the Dakota line ct
point between Big Stone lake and Lake
Traverse, q distance of about -ninety-five
miles.
The ST. Paai, Minneapolis & Manitoba
company owns 100000 acres of lands, and