Lewiston teller. [volume] (Lewiston, North Idaho) 1878-1900, 1881-12-15
Some Things Published - Facts.

The Ma ion G unity Anti Monopoly
League OF Oregon, has published a
circular address to the people. in which
occurs the following:
There is evidence on 6le in the
Supre 40 Court OF this SLa.e, showing
that the coSt OF the railroad tr u, Pore
land to Koseuurg, u Distance OF l9S|
miles, was S-,7o6,ul6 is. There
Was issued Of bouds Oh the line OF the
lvad from Portland TO ,hd State line
SO miles, $l0,95O,OOO. all OF which
were sold, and all Of the money, save
that exl ended in the cons ruction,
wa. Ap. ropr ated by the promoters OF
the sc .ene 1hcre VAS Issued in AL
d lion to the b-nds, $2O,UOO,OOO OF
stock. Und the reuiodeiing OF this
ella tic corporate II, he $IU,30O,OO0 u
bonds have beeo converted INTO seven
per cent interest bearing preferred
stock and 1 r the accrued interest o.,
the bonds tnere has been issued 1910,
900 of counMon stock, making stock
debt Of $36, %, 900 III road that has
only G st $2,7so,Ol6 IL.
Tnus, it will be -een, the foundation
has bee laid ny "hich, when the Dusi.
nesr shall have become sufficiently
developed, u tax of $z,549,75O may
be levied on the people TO pay Z
per cent. dividend OH this wAtered
stock.
Some three years ago there existed
on the COLUMBIA and Willamette rivers
q line Of transportation, with facilities
utiicient to do the business OF these
routes. THIS property was highly es-
timated at value of $-,OOO,UOO, but
was Id to the 0 T. L. N. Go. f"i
$4,000, 900. In addition to this pur
chase trom the 0. S. N. Co, ty ths
O. r. Il N. Co, Of the COLUMBIA aud
Willamette routes, for which ~as pa't
8 900, 900, there VAS purchased b,
= the .. X. & N. Co the property OF tn
, Oregon Steamship Com, any, to
: which ~as paid $4,G77, ,0oO. 10 Sl99,
600 paid for real estate. This pro
per,y consisted OF the steamships 70
,umbi., Oregon, E der and City q
Q Chest r, apd the wharf a,d dock a
+. Portl nd, altogether worth not TO ex
); ceed 81 100000, AID for VIII Oh va
e paid S4,47S,0O0. This purchase wa
! made 10y party who was man ger Q
the company tn sold and also OF tn
: one that purcha ed. his fact ~
q counts for the amount paid bein
j. about three times he r al value of til
!, property. The amount Of these pu
chases made by the .. K. l. N. u
,, aggregated s9,747,0 900, while the tru
/ value tn rpof would not exceed 81
e 699, ,OJO, leaving net profit OF VT
70 O4s, 900, which illustrates the me hoe
=. hy w.ich some men suddenly becom
: millionaires. 1h re has been an il
y crease Of the capital stock Of the 0. l
S. & N. Co. to Sl2,OOO,000, and also
ID bonded debt of S6,0JO,OOO, whic
NJ wi he origin i, makes tai bOn'
:: ed de., of Sl2 100000. and AN a
" gregate of S24,000,0O0 bond al
~ stock.
is In addition t., the enormous de
W put upon this enterpri e. yet in
ar infancy, there has been incorpora
-. another company, owned and CONTROL
" by the same parties, the Oregon L
IL provement Company, with capi'
as stock OF S5.00O,OJ0. s III later t
ed same parties organized the Greg
and Transcontinrntal Company, with
capital stock of $4,000, 900, max
'' a tai C pitt, ock Of the three corpo
'h tions SCI, 900, 100, which in effect,
he inf ton + the stock ot the or
us nal company.