Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1881-07-16


in 1874 to look after the interests Of some
capitalists who had become interested in
railroad enterprises there and were get
ting anxious about their investments
He had been struck with the magnificent
possibilities Of the country, and instead
of selling out the interests of his clients
as he had at first intended, he set about
recognizing the companies, with the re-
suit of making them the most profitable
in proportion to their cost of any in the
country.
With reference to operations in the
Northwest, Mr.. Willard spoke Of the
progress making in construction, and
then said that the parties who had made
up the eight million pool had since formed
another company, which they named the
Oregon Navigation 81 Transcontinental
railway company--a large name, but not
larger than their purposes Its capital
was fixed at fifty millions. Thirty mil
lions of the stock had been subscribed
for; half of this subscription had been
paid in and the other halt would be paid
in in the course of a few months
The objects of this new company were,
first to maintain their control of the Or
egon Railway and Navigation company
and the Northern Pacific company, but
mainly to build feeders which should add
to the business of the main line of rail-
way. And in this connection he could
assure his hearers that they would with
in the next fifteen months add one thous-
and miles to the railroad mileage between
st. Paul and the Yellowstone, in Mime
sofa and Dakota, in building branch
roads to swell the traffic over the North
ern Pacific, to and from St. Paul
Referring to Mayor Rice's suggestion
as to the effect Of the policy of the COM
pany upon st. Paul, Mr.. Willard said that
they recognized the fact that st. Paul is
the commercial centre, from which their
road has large part of its business
They recognized the fact that most of the
traffic of the country would come this
way, and that in return they could carry
to the country the merchandise and man.
ufactures of st. Paul He had no doubt
but the completion of the Northern
Pacific would help the business of st.
Paul. Indeed, he said, I think,
gentlemen, you can hardly overestimate,
or comprehend the vastness and resources
of the country beyond the Yellowstone
to the Pacific. The business will be there
and If you do not get it it will be your
own fault.
In conclusion Mr.. Willard remarked
that he had come here a stranger to the
country. He had visited it in 1857 but
his recollection of what it was then had
been lost in the series of magnificent sur
prises he had experienced on this
visit in witnessing what had been
done since his first visit throughout the
country and in building up the city. He
was glad to have had the opportunity to
meet the business men of st. Paul and for
the privilege of saying what he had to
them. He thanked them for their visit,
and if any one present desired to ask any
questions he would take pleasure in an
swering them.
NoQuestions being asked Gen. Averill
called the attention of the company to the
refreshment rooms, whittier the party
moved slowly, pending numerous intro
ductions and exchanges of comments upon
the gathering and upon what
had been said. A half hour or more was
passed about the refreshment tables by
most Of the company, while others re-
mained in the corridors, and soon after 10
o'clock the visitors retired, all satisfied,
from what they had heard and seen of the
new master spirit of the Northern Pacific,
that the interests Of st. Paul, which are
those of the Northwest, will not suffer but
gain by his policy.