The semi-weekly miner. [volume] (Butte, Mont.) 1882-1886, 1882-09-23

cific passed over the line, westward
bound, one day last week. One Of
them has the reputation of being an
intimate friend Of Mr.. Willard.
A forest fire opposite Weeksville
one day last week seriously threatened
ties, piling, etc cut out for the rail-
road company. hut fortunately It dtet
cut before doing any serious damage.
A letter from Paris Gibson to a Ben
ton gentleman says the Northern Pa
cilic railroad surveying party are
running another line to Benton from
q point eighty miles above Billings.
This will shorten the Benton branch
from thirty to fifty miles.
Rumors are rife that there is
soon to be a complete Overhauiing Of
the clerical and official force along the
n. p. line. There seems to he quito q
rivalry between the q. r. & y. liue
fellows and the appointees from the
East: consequently tale-bearing is be.
coming common, and there Is likely
to be some depositiOns in railroad CIR
cles before long.
The New York Post says the amount
due preferred stockholders Of the
Northern Pa, i:ic railroad was report
ed at the meeting Of the finance COM
mirtee to-day by the treasurer to I've a
little over $l.:IW,Uy. The preferred
stock outstanding! Is in amount about
81, ,OOO,N 900. These are the surplus
earnings of the road since the date of
the reorganization OF the company
when holders Of the bonds issued un-
der the Jay Cooke regime consented
t, convert the bonds into preferred
stock. The managers have been per-
sistent buyers Of Allegheny Central,
which gives color to the runl0r that
negotiations ale pending for the pur-
chase of the Allegheny Central by
the Lackawanla, and this explains
in part the recent activity and advance
in Allegheny.
18th has tic following: Negotiations
are pending through, Blake Brothers
& Co. in London for the sale Of the
proposed new issue Of bonds BY the
Union Pacific Railroad Company.
The officers Of the company decline
to furnish any details regarding the
proposed loan, but admit that such
negotiations are pending. From
trustworthy sources, however, the
following facts have lcen obtained:
The Union Pacific Company pro-
poses to create 3 mortgage fer $780,
OO0, 600, secured by collateral security
now in the treasury Of the company,
to the amount Of about SS,S(N. .hM.
These securities consist of the follow
ing, in round numbers: s., ,3bO, 200 in
Colorado Central railroad sevens;
1854, 800 in Utah l. Northern rail-
way sevcns; 1,:SjO. .Nxl in Denver l.
South Park sixes: 81, 1G0, ,O0N in Kan
sas Central railroad skies; S97O.tEO in
Utah Southern extension sevcns;
$40, 900 in Omaha and Republican
Valley sevens; total, $500, 600.
These issues are variousiy due from
1:N3 to 1921. The new collateral.
first bonds will, as proposed, bear in
terest ut the rate Of five per cent,
payable in June and December. The
principal is 10 lie due in 1907. The
New England Trust Company will
be the trustee. 1t is proposed 10 pro-
vide sinking fund and cut Of the
excess Of interest paid or underlying
the bonds over the amount 10 be
payable on collateral, the trust lends
which are 0ne per cent. Is regards
about $..,7lH,Mm and two per cent. as
regards about M.MD.!H)O o! ths old
bonds. the sinkin fund. 1t is in
tended to invest il in the purchase
Of the cn:;;,tera! TRUST bonds ii they
can be obtained Il. l.h5 or less. Il;
this came; lee done the sinking fund
will be invested I" the hes: advan-
tags. The negotiations FOR the pro-
l:os.,l cOl:a,er.:! trust loan are 40!
completed is.t it i. expected :h:.t the
new l'"nds will he taken lc: wcen 30
and ~.