The new North-west. [volume] (Deer Lodge, Mont.) 1869-1897, 1882-06-30
STILL AFTER THE LAND GRANT.

It was recently supposed when the major
ity Of the Judiciary Committee reported adj
versely to FORGETTING the Northern Pacific
land grant, or that portion yet unearned,
that the question was practically settled and
no further effort would be made TO disturb
1t. Late advices, however, indicate that the
minority report which favored resolution
of forfeiture is being persistently advocated
and that 1t may yet secure sufficient supp ort
to pass through one House this session. The
theory of the minority Is that the United
large land grant and too many privileges
and exemptions, and that Congress now hay
ing the power, through the failure of the
company to complete the road within the
time prescribed In the act extending the
charter, should take the occasion to declare
the grant and charter forfeited. 1t is true
the grant Is an enormous one and the incl
dental privileges and exemptions are very
favorable TO the company. This view OF the
case was not recognized when the lands
were originally granted and the enterprise
lay dormant many years because capital
could not be interested in a road alleged to
traverse an arctic route through barren
wIlds. Hostility to it was active and even
when Jay Cookies ford descriptive writers,
with view TO boosting the stock, pictured
1t as the lost banana belt which was to fill
long felt want of the world, they had to pile
on the color immensely to overlap the Frost
crystals and burnt lumber sketches of Gener-
al Hazen and the hired Bohemians of rival
enterprises. They did their work too well
in one respect and the Northern Pacific
Company advertised It's lands at values that
are now being quoted against it by the mi
nority committee. 1t will amuse Montan-
ians TO learn that the strong point of the mi
nority Is that So per acre is a low valuation
on the lands granted TO the company and
that at this figure the lands granted will
more than build an equip the road. We do
not believe one-twentieth Of the Northern
Pacific lands in Montana could be sold TO
average So per acre, and the company will
be fortunate If they average 30 cents an
acre on the entire grant. The facts destroy
the theory Of the minority who do not con-
slider that the valley lands, susceptible of ir-
rigation, are very limited in area as COM
pared with the foothills and bench lands
only adapted to grazing, and the mountain
Gus lands Only of value for their timber.
Putting aside the question whether Congress
can forfeit the Northern Pacific grant except
TO secure the speedier completion Of the road,
an exposition of the real value of the lands
will grievously unsettle the convictions of
those Congressman who have got the banana
belt idea in their heads. 1t is not an eltire-
ly undeserved retribution for the misrepre-
sensations made about the value of the land
grant by the company, and the series of
questions that has been propounded will
bring out q picture in humiliating contrast
to the advertising pamphlets.
1t is fair to say, however, that these
manipulations of reports may mean some
thing else than that the astute Congressman
is deluded. The Northern Pacific has now
reached that advanced stage where there Is
immense money to be made In " deals "in
stocks, and rumors of Congressional action
are convenient aids in bulling and bearing
them. For instance, this month little
story was set afloat concerning the financial
condition of the company, consequent on
the non-transfer of lands to 1t on completed
portions of the road. Down went the stock
with crash. In another day 1t rebounded
to higher point than 1t had been at before.
In the meantime fortunes had been made and
lost, and it is not likely the Northern Pacific
officers, knowing the facts, lost anything.
This Is the way Gould, Dillon, Vanderbilt,
Willard, Mills and others of the boys make
their Ice cream money. And SO 1t Is not al
ways easy TO determine at this distance from
whence come the evil and the good reports.
So far as the construction of the road is
concerned, and that is what materially inter-
ests Montana, 1t is now beyond doubt. A
bad harvest this year or financial crisis be-
fore the last block Of stock was TO be taken
up by the syndicate might have caused delay,
but these perils are practically past. The
road is not being built as rapidly as prom
ised, but the Montana gap will be closed in
1893.