Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1881-05-27
To 81 Cp>,t!%yrD.l
LATE EASTERN NEWS.
s.Ih" Till Wars The Dn,r :,


New YORK, May 20.-It was an
nounced at the office of the Northern
Pacific Raiiroad yesterday that final
settlement oil differences between
that company and the Willard COM
blnatlon has been made. Willard
buys the stocks Of President Bill
linSs and his friends, and con-
sents to discontinuance of the suits
! brought again the company relative
to It's recent issue of $1,000 shares
of common stock. In consideration
OF these things Willard is given con-
troi Of the road. The tilst step to-
ward fultillment of this agreement
was taken at meeting of the North
ern Pacific directors y, sterday. The
resignation of Joseph Dilworth, of
Philadelphia, and Johnston Living
stone, of this city was received and
Ihos. +. Cakes, vice-president and
general manager or the Oregon Rail-
way and Navigation Co., and Arte-
mus ID. Holmes director of the COM
pany, were elected as their success
sors. Other changes are likely to
occur although it is said that many
OF the present board are in full
sympathy with Wizards plans. Vii
lard does not desire radical change
III the present management, bis
friends say, and will be content to
fill any vacancies that may occur
there naturally. 1t is understood
Billings will give up the cares of his
pos ton as 500 as he can find it con-
yenicnt to do so. At meeting
yesterday which was adjourned until
to-day, resolutions were adoped pro-
vidinS for an extension Of the road
from kalama to Portland, and on
the Tacoma branch from Snake river
to TACOMA.
NEW IoHK, May - IN order of
discontlnuance was entered to-day
III the suit of Henry Willard against
the Northern Pacific Railroad and
certain members of its directors to
have issue of SlS,0 900 ,0O0 of stock
to certain proprietary shareholders
declared fraudulent and void"
Willard, III conversation with a re-
porter to-day, said that lie had never
been opposed TO the building of the
Cascade mountain division OF the
Northern Pacific whenever it was
plact cable to do SO. \ favorable
route across the mountains had not
been discovered, and therefore all
estimates as TO cost of the line were
mere guess work. Some of the di-
Iectors were inclined to insist upon
immediate building to this branch
without regard to either route or
cost. The folly of Jay Cooke in at
tempting TO build the road in de-
tached sections, Mr.. Willard said,
proved fatal to the enterprise ten
years ago. do hot think the com
pany ought now to make similar
mistake. They built a line across
Washington Territory about 1O5
miles long which would stand to-
day on the company's books as cost
ing 100000 dollars, and that line
never had paid operating expenses.
The Norther9 Pacific must be built
as through line, and on through
business at first, at least, it must de-
pend for life. l have always regard
ed this as an essential condition of
success of the enterprise. The re-
sources Of the company are limited
by its charter, and if they should be
wa ted III building branches of I'M
known cost it might lie impossible to
complete the main line just as fast
as It can be done, and after that If
the company has any surplus funds
it will be time enough to think of
building additional lines. | am not
opposed therefore to the building of
a division across the cascade range,
but l am in favor of completing the
main line first. Unless the main
line should be completed, that di-
vision would be worse than useless,
for it could not pay its expenses
from local traffic. On the other
hand, if the main line should be fin
ished as far as Ainsworth, the com !
pany would have Il through line to
the Pacific by connection with the
Oregon Railway and Navigation
Company's line. In my opinion,
early completion o: this main line |
should be the policy which the con-
pany should pulsue. This is sub
stantia!ly What | said at the North i
&" .'.l... ..6.''., .rs'".' .. -.
IA i"1il 80 / -.,s. u il. ~
:c:l-.., iipIn Il ....!.. Il. ...-n,,
and whenever practicable, from !
Snake river to Tacoma. La tue !
agreement made between the two |
companies there was no mention of |
purchase by me OF Mr.. Billings
stock. That was entirely personal
arrangement between HIM and my
self. As to amount of stock bought
OF hun or price paid for it, 1 have of
course nothing to say. 1t is suth-
Gent that have PRACTICAL control of
the stock. There may not be any
h. L