Lewiston teller. [volume] (Lewiston, North Idaho) 1878-1900, 1881-04-14

Agents for the "Telier.'
WILLARD AND BILLINGS.

The OreJ0hldh OF the "a INST, con-
tains what purports to be the PROPOSE
tions Willard to President Billings Of
the Northern Pacific in regard to the
future actions of the Northern Pacific
and 0. r. Il N. companies, which were
sent to Billings in the early part of
March, extracts from which we pub
fish on our GU side, which propositions
Billings rejected as Willard states upon
which rejection Willard says he told
Billings he should seek to get control
of the Northern Pacific so as to change
the management. The following let
ter of Billings to Willard contains rea.
sons assigned why Billings would not
accede to Wizards propositions. As
we regard them sound and in the real
interest of the company which he rep
resents, as we'll as the interest of the
people of the northwest coast we give
the letter entire, believing that moth
ing can be of more interest to our
readers than a proper understanding
and determination of this question
New YoRK, March IA.
HENRY WILLARD, Esq, New York
City-My dear Sir: l think it not
best = to sell my Northern Pacific
stock as suggested by you last Friday.
1t is not matter Of dollars and cents.
They price you mentioned is probably
high enough for the present, though |
have so much faith in the enterprise [
doubt if a better investment can be
made than in the stock even at the
highest price ct which it has been sold.
But in all these years of my connec-
ton with the Northern Pacific | have
not been thinking of selling out or
concerned much about the varying Of
prices. l have been in the enterprise
to stay.
The point with me is this / have
for long period been substantially
and prominently identified with the
company, especially in it's reorganiza
ton, it's financial schemes and it's for
ward movements. I have been its
largest shareholder, have been trusted
and supported by it's widely scattered
stockholders, and I am now it's presi
dent. l must do nothing that can
be even construed into disloyalty tc
the enterprise or to those who have
followed me.
To sell out my interest now and re-
sign my Office, as should do if l part
ed with my stock, would, ] think, be
so construed, and IL would he said ]
was ready to let the enterprise go the
moment ! could make lot of none,
out Of it. I'm quite sure you will appre
ciate this and not wonder that | abide
in the ship.
As to the other suggestion, that
slbuld put my stock into the new
company proposed for the N. p. an,
0. R. & N. Companies, it may be tina
l am old fashioned and conservative
but somehow prefer not to 90 into
company likely to expand in sucl
large proportions.
You stated frankly that you con
templated taking in also the Oregon 4
California roads and extending them
and that it might be well to think o
securing control of the Union Pacific
The scheme is very big one and i
may all work well enough, but 1 d
not care to go into it. | would rattle
hold my Northern Pacific stock jus
as it is. But do not for a momen
suppose that decline to go into tn
new scheme because l do not wish t
zee the Northern Pacific Company an
the Oregon Railway Il Navigatio
Company work in harmony. The tw
companies should not quarrel, and
think quarrel can be avoided.
The Northern Pacific will build il
road between Portland and Kalam,
The engineer in-chief has been instru
ted to definitely locate the line. TIL
will take little time, as the questio
is involved where the Columbia wi
be crossed and whether the road sha
be ON the south or north side of Il
river. But as soon as the line is loo
ted tn, work will be begun and yiso
ously prosecuted. With this lii
completed and your road finished fro
Wallula to Portland there will be
continuous line to the Sound. And
yoA propose to give TO the Northe
Poetic the benefit of a construct
haul on business going over this Ii,
y l see no reason why such business CT
rot ne arranged on satisfactory bas
With this business so arranged