Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1881-04-08
MIR. Billings Letter.
New YORK, March II, ISIS

best to sell my Northern Pacific
stock as suggested by you last Fri.
pay. 1t is not matter of dollars
aud cents. The price you mentioned
is probably high enough for the
present, though I have so much
faith in the enterprise l doubt if a
better investment can be made than
in the stock even at the highest price
at which it has been sold. But in
all these years of my connection
with the Northern Pacific l have not
been thinking of selling out or con-
cerned much about the varying
prices. / have been in the enter
prise to stay.
The point with me is this: have
for long period been substantially
and prominently identified with the
company, especially in its reorSani-
zation, its financial schemes and it's
forward movement. l have been its
largest shareholder, have been
trusted and supported by its widely
scattered stockholders, and am now
it's President. l must do nothing
that can be oven construed into dis
loyalty to the enterprise or to those
who have followed me.
TO sell out my interest now and
resign my office, as should do if I
parted with my stock, would,
think, be SO construed, and it would
be said l was ready to let the enter
prise go the moment l could make a
lot of money out of it. l am quite
sure you will appreciate this and not
wonder that / abide in the ship.
AS to the other suggestion, that
should put my stock into the new
company proposed for the control of
the N. Z. and O. II. N. Companies,
it may be that | am old fashioned
and conservative, but somehow I
prefer not to go into company
likely to expand into such large pro.
portions.
You stated frankly that you con-
temp!ated taking in also the Oregon
& California roads and extending
them, and that it might be we'll to
think of securing control of the
Union Pacific. The scheme is a
very big one and it may all work
we'll enough, but do not care to 80
into it. l would rather hold my
Northern Pacific stock Just as it is.
But do not for n moment suppose
that l decline to 50 into the new
scheme because | do not wish to see
the Northern Pacific Company and
the Oregon Railway " Navigation
Company work in harmony. The
two companies should not quarrel,
and think n quarrel can be avoided.
The Northern Pacific will build its
road between Portland and kalama.
The cngiueer-in-chief has been in
structed to definitely locate the line.
This will take little time, as the
question is involved where the Co.
lumbia river shall be crossed and
whether the road shall lie on The
South or North side of tho river.
But as soon as the line is located tie
work will be begun and vigorously
prosecuted. With this link com.
pleted and your road finished from
Wallula to Portland there will be
continuous line to the Sound. And
Is you propose to give to the North
ern Pacific the benefit of construc-
tive haul on business going over this
line, see no reason why such busl-
ness cannot be arranged on salts
factory basis. With this business
so arranged it yet would be we'll, us
we have talked, for the Northern
Pacific to build within an early Pc
Rod as far down as The Dales to
keep ont any other company; and
FROM there it might be best, on ac-
count OF the expensiveness of the
road, for the Northern Pacific to run
over your road to Portland as is pro-
vided in the tiaflic contract.
Now, as to the branch line over
the Cascade range. The surveys are
not yet completed, and l have no
expectation that they will be before
June. The work so far done indi-
cate" that the route will be much
more practicable than has been an
tlclpated. With the exception of .
not long tunnel at the summit,
doubt ii the work will be as expen-
sive as that of your road on the Co.
lumbla river from The Dalles down.
However, when the surveys are fin
lshtd, we shall have the exact facts,
and II there is no practicable route,
that tads the matter. If there is,
am so certain II ,oad will be built
there 10y some company, [ think IL
Il
Northern Pacific should lose its right
to build there, and its land grant:
And 1t certainly VIII, if it should
not go to work and keep at work on
that line. Washington Territory
would ask Congress to take from
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