The Corvallis gazette. [volume] (Corvallis, Or.) 1862-1899, 1881-07-08
LETTER FROM P0RTLaN0.
y1LLARD's ANAcoNDA-THE THoMP
soN-sIMoN soUABBLE-sTATE OF
BUSINESS, &C.

Ep1ToRs GAzETTE.-Portland is
now emphaticallg city of great ex-
pectation. Ireland of the Historian
used to liken the town to Stat duck" !"
setting upon the edge of sea OF glo-
ry, and gobbling the good things
(which the winds and waves of circam-
stance and fortune waited to its nest.
(P. s. Since ireland has settled IN
Astoria he gone back on this unct-
ious simile.)
In nothing is the future prospects
of the town more manifest than III
the prices of real estate, which is now
said to be as high here as in San
Francisco with its quarter of mil
lion population. And there can be
no doubt that the prices Of real estate
are now much above the margin of
reliable rent value, and pushed into
the region of speculation, from which
point the reaction will send it down
in crash as in 1872.
Business however is not SO salts
factory as these high prices Of real es-
tate might indicate. The low price
Of the last crop of wheat and the de-
ficit in the salmon catch is telling up
on the merchants; thus showing after
all that it is labor-well paid labor
on the farm and fisheries which give
solidity and buoyaDcy to all depart
ments of trade. And 1t is for this
reason that the interests of the farm
er, as the foundation of our prosperi-
ty, SHOULD be carefully protected
against the extortion of monopolies
ard the taxes of unjust tariffs.
The latest sensation here is the in
corporation of the .Oregon and
Trans-continental RAILROAD Compa-
N.Y." not inaptly dubbed by some
"Villard's Anaconda The capital
stock is placed at the small sum of
Fifty Million dollars, and yonr cor
RESPONDENT had high hopes of being
allowed to take million or so of it,
when it is announced that the stock
has already been taken in N. Y. City
and commands a premium. So that
we see the good things of this coun-
try are not for the Oreaonians. Viz
lard could see as everybody else did,
and that the load of bond debts and
capital stock of the various corpora
tions he had secured control OF, ag
gregating not less then one hundred
and fifty million dollars, was more
than any man except Vanderbilt
could carry. And as he devises ttis
new scheme as sort of wrecking
machine, or "devil fish, to be conve-
niently at hand, and with its beak
and succers fastened in the heart and
vitals of these corporations, it will
draw in with its long arms and Slow
" but surely absorb their substance
and leave the chaff and shell to the
confiding bondholders. Thousands
OF bond purchasers will lose their sa-
wings and investments to the extent
of many millions of dollars while a
little ring Of half dozen will acquire
immense fortunes. Oregon is inter-
ested in this game to the extent of
getting railway connection with the
eastern states and with California,
and it will no doubt soon get it. But
having these railroads we are still
more interested in the manner Of
their management.
We certainly do not want aKing
Stork" to eat us little mice all up.
The Oyegonia,a says this corporation
awill control the destinies of the
ssnorth vest Let that proposition
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