The weekly miner. [volume] (Butte, Mont.) 1878-1881, 1881-01-04

division between Ainsworth and Wallula, ~
miles, there will be new road, 4S1a miles
Kidding the present road operated, 1922 miles,
there will be operated by the company 1,2O3a
miles. Of these 1,203a miles, the Northern
Pacific will own absolutely 1,O43a miles.
Its relation to the other 100 miles is as fol-
lows: It owns half of the "a miles from
Thomson Junction to Duluth. The amount,
k257,9OO, stated in the last report Of the COM
pany as then. due for this half, payable in the
preferred stock Of the St. Paul and Duluth
company, has been paid by the sale, for that
purpose, Of Northern Pacific preferred stock,
ind the company has acquired the absolute
title to an undivided half Of the road, free Of
Iii incumbrance. The company owns a ma
ority Of the stock, and has a perpetual lease
bf the Western Railroad of Minnesota from
Brainerd to Sank Rapids, 81 miles, at a rental
pf 33 per cent. of the gross earnings, until
April 80, 1883, and after that at a rental Of 40
Der cent. OF the gross earnings. From st.
Paul to Sank Rapids, Is miles, the company
las a perpetual lease of rights Of way, at an
hnnual rental of $4,000. The entire debt
beainst this large mileage of road and its
3quipment, and, in roundn numbers, 17,5OO,00O
kcres of land, will not exceed $7,500,000.
The company now crosses the
MISSOURI RIVER
i Bismarck by means of a transfer boat, but
is suggested that ere long it will be neces-
ary to construct a bridge. The estimated
lost for the entire work is 100000. During
he last year a new contract was made with
he Western Union and Northwestern tele-
raph companies, the special features of
which are that the telegraph companies shall
build the line as fast as the road is construct
ed, and faster if this company so require.
bne-third of the cost of construction is to be
bald by this company. and one-third of all
he gross receipts at all stations on the line is
. be paid to this company, except on mes
ages sent from or destined to certain ex-
Eepted places. The business Of the company
bn the lines is to be transacted free, and of
he lines free up to an agreed amount per an
mum; over that sum the charges are to be at
half rates. The contract is for a period of Is
Gears from May l, 1880. On JAN. l, 1880,
khe company began doing the express bust
hess on its lines in Minnesota and Dakota.
The net earnings for the first six months
t were SIG, IT'S, against $6,042 received from
express companies during the same period
! asst year. The company has also made con-
tracts with four steam elevators and five
horsepower elevators, and the new elevator
pf 1,O0O,0 600 bushels capacity now building at
Detroit, which will keep the system in its
5 control and subject to a suspension regarding
he maximum rates to be charged. The pre-.
erred stock has been reduced by land trans.
ers to $43, 412, 645, but of $51 ,OOO,o 900 author
zed issue Of this amount there remains In
4 Fhe treasury as an asset SAIL $50, leaving
he amount in circulation $50, 1OO,s1s.
Following is a statement OF the bonds is
bued and to be issued:
Total authorized. ............ ...........S7 O0O, OOC
Subscriptions paid s.. 45i 1854
i Subscriptions unpaid. .e..... -. ..r... 545, 1861
6 Undlsposed 2,426, 800
Total. ST ,OOO, O0
!, Total issued. ............ ......... .S4.ON ,S3
XCanceled by land sales ............... LAG, 0N
outstanding. ....... ...............$3 1881 49,
The land department sold during the veal
POI, 1853 acres Of land, the receipts being
$S31,437, and the expenses $74,9Sl, leaving
balance of $756,456.