New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1881-05-21
RAILROAD INTERESTS.
THE NORTHERN PACIFIC AGREEMENT.
A TALK WITH MIR. yILLARD-DErAILs or THE AR
RASGEMFNT

THE NORTHERN PACIFIC AGREEMENT.
A TALK WITH MR.. YILLARI)-DETAlIS OF THE AR
RASGEMFNT.
Henry Willard, president of the Oregon Rail
way and Navigation Company, said yesterday that the
basis Of the agreement recently made between that com
pany and the Northern Pacific Railroad Company was
the future policy OF the organizations. lie said that
he had never opposed TO the building Of the Cascade
Mountain Division 81 the Northern Pacific whenever II
WAS practicable to do So favorable route across the
mountains had yet been discovered, and therefore
all estimates the cost Of the line were mere gness
work Some Of the directors Of the Northern Pacific
we're inclined Ia insist the immediate building OF thr
branch without regard either to route or cost
The folly Of Jay Cooke in attempting to build the
ROAD in detached sections" Mr. Willard said proved
fatal 10 the enterprise ten years do not think tho
company oncht 10 make similar mistake. why
they built a line across Washington Territory, about 100
miles long which would stand today on the companys
books as costing $I5.OoOOOO and that line never ha-
paid operating expenses The Northern Pacific Road
must De built through line and
on its through business, nt hrst At
least, It must drp,nd FOR hic. have
always regarded this ~ an essential condition of Tho
success Of the enterprise The resources ~ ia" company
are limited ny IT. charter from Congress and y they
should be- wasted n building branches ~ nkn"N cost
u might be Impossible To- complete the main me am
in favor " building this main line in-i -" lat ~ n tn
be done, and after that " the company mas any fnIl
fnds It Will be time enough 10 think ~ building add
opposed. therefore, To tNt hlllh
ing ~ the division across The Cascade Range hut am ~
favor OF completing the main line nf-t hr~-
the main line shoud De completed, that division
would bc than useless, for - could not pay
IT, eXpcn.r- from the local traffic. ON the other hand, "
the main line shunl De finished far Aswnrth the
cotnpanv Wuuld have 10 through huc 10 the l'hrhc N
connection with tho oregon RAILWAY and N'SitaiiW
CninIanyE lines. I'm my opinion. The carly t"ih' "h %"
this main line should De the policy which thc company
should now pursue.
This IL ani,.tnntiallv what said ~ tho Northern
Pacifc meeting c-terdHy. aud the Bohr1 passed the r'o
lution~. published M I'M idW NJ ms h"iut i"t 'ur
extension from ka.aun to Portland ana. never
practicable. from the Saahr RIVER {" ia'"h"
In the agreement made hctWrcn the two coiuyhul'-
there mention ~ the purchase ly me- 81 MI hl
between him and irvsrN A. 10 the amount "i ri"rk
bought of him. 10 the price paid FOR 10. have, "
course nothing SAY. II Re sufficient that have now
the practical control ~ thr stock There not r ANY
further changes IA thr Board at pre- Mt do not want
President billings 0 resign hi- position ard ~ IT, t
terly impossible that should take h- IlHc' d" mot
think TINT Mr. billing. VIII lcaN" thu. company before
the u tie fan The sent com
position of the Board s entirely sitiHnr"F Ia me hub
there j. no lack u harmony among - members as to the
future policy ~ the NuCoflIiJiiIr~.
" \ formal C0l-olidtiiuu OF fhr-r companies, winch
hnR been talked OF, T. perfectly lnrat ilra'hr. Br-il
that, there II real n'"o--y "i such union nov"
The recent issue of l-uOuO shares 81 stock h lcf pre-
ciAcly where u WINS lr",pic began -lt- against
the cOinpnity hnNr ystf none or ihai Issue hu !
understand u De traded In now aH Wei as any stock
The suits were discontinued yesterday lrruuu, AMI
hctrvr that the request ~ President Rolrtun Of The
rule made at the time Of our suits WAS rr-cndcd this
morning
An order ~ d-coninuarcc entered yesterday In
the sut ~ Henry Willard ugau.t the Northern Pacific
Railroad and certain of u-drtCtor- 10 have r issue 81
S-OOOOOO Of s'ok 10 certain "proprrtary" slIarc-
holders declared fraudulent and void.