Daily globe., 1882-10-05

were deemed so remarkable, when there !
was no sort of occasion for such remarks,
and when the Northern Pacific road is 90
ing along just as usual, with its vast i'm
provements that it was deemed best to see !
the Northern Pacific people and ask them
what in thunder they had been doing, all |
unbeknown to everybody to stir up such |
cyclone and provoke such dire threats. A |
representative of the GLOBE, therefore, |
called upon vice president Oakes at the
Metropolitan, and exhibited to him the ar
ticle. On reading it Mr.. Oakes said he
could not see what men desired to publish
such falsehoods for. Does this Minneapo-
lis man who wrote this think all are such
fools as to put 100000 worth of improve
ments there just for the fun of the thing
and then run away and abandon it? We
have come here to do business and not to
play. We have had the line SURVEYED and
are going ahead with it as
fast as possible. It is the
purpose of the Northern Pacific road to
point just above Anoka, near the mouth
Of the Rum river, and then across the river
to the east side and run up to Sauk Rapids
and then out on our road. This article is
tempest in tea pot. There is not a
word OF truth in it. It's most senseless
and ridiculous report. This talk of treach-
cry and selling out is wholly without foun-
dation and is unjust and unmerited.
The Louisville and NasAriUe.
LOUISVILLE, Oct. AT the annual
meeting of the stockholders of the Louis
vile and Nashville, President Baldwin sub
mitted his annual report. The miles of
road operated by the company is as fol-
lows: In fee, or through ownership of
the entire capital stock 1,577.95; operated
under lease, 261.17; owning majority of
stock, south and north Alabama, 1883;
owning majority of the stock but oper-
ating the same outside of its system, 564
miles; and lines in which the L. & N.
is joint lessee, Georgia road and depen-
| denotes GAL. Total, 1928 miles. Bonded
debt, $5S,117,173; capital stock, SIS, S,133,-
513. The mileage road on which this in
debtedness rests is LIS, or stock and
bond debt of S44,3s4 per mile. The
gross earningsfor the past year
were: Freights, $S,O5O,339.O4; pas
senger, $780,, ,4O4.74; mails and
express, $527.O23.6s; miscellaneous,
| $4O2, 2,917.O9. Total, $11,9S7,744.55. Op-
| Grating expenses, $7,427, ,37O.35; net earn
! ings, $4,55s,S74.2O; per mile, $2,-
| 281.SO; ratio of expenses, 6l97
| per cent, as against 81, so per cent. the
year previous. Realized from Investments.
| $266, ,442.35 total income, $4S2, 2,486.55; in
terest, rentals, taxes, ETC., $4,O35, ,9OS.7S.
| The deficit on the Georgia railway lease is
| $4,000; dividend paid February 10, 3
per cent, $543,9OO; net surplus for the
! year, $135,OO7.77. It is expected that the
| extension Of this branch to the Tennessee
state line will be completed and open for
traffic during the month of December The
| road has been built frst-class in all re-
| spects.a and is now open to London, eighteen
miles from Livingston, the former termin-
us. Almost the entire grading is done,
and the iron bridge structures have been
| gotten out. But little masonry work re-
mains to be done. The road will be
| opened to Williamsburg, at the crossing of
| the Cumberland river, forty miles from
Livingston, about the middle of October.
! The length of the extension when COM
pleted will be sixty two miles. It is be-
lieved that the opening of this road into
eastern Tennessee and the direct conuec-
ton with Knoxville will add materially to
the traffic of the line from January first
next. The president says: The company
has made large expenditures during
the year for additions and Improvements
to the roads, and equipment and advances
to dependent companies. The bonds
marketed did not provide in full for these
necessary expenditures. The company
has, therefore, incurred an additional float
| ing debt that there should be no delay in
improving the property and increasing its
earning capacity. It is gratifying to the
board of directors to be able to state that
all the roads in our system are materially
! supplied with rolling stock and all necessary
appliances for the transaction of a large
business in the future. The stockholders
should, however, remember that when the
large purchases of the railroads and capi-
tai stock of the other companies were made
in 1879, 1880 and 1881, this company had
but little cash capital, and the purchases
were hence made on credit, the roade pur-
| chased being at the time in bad condition,
and that to pay for the property pur-
chased and to put the roads in proper shape
for active business, necessarily required
large outlays of money, but in view Of the
Egrowing prosperity of the country at large
and especially of the rapid development
of the vast resources, mineral and agricul-
tural, of the country through which our
lines and their connections Immediately
passed, we think we may reasonably ex-
pect successful future for our company,
and for the profitable results of the fiscal
year 1882 83; we have abundant promise
in the excellent crops throughout the
country, and especially the southern coun-
try, where our interests chiefly lie.'
A resolution was adopted increasing the
| capital to the amount of $3O,OOO,OOO, such
increase amounting to something less than
$12,OOO.OOO. The following directors were
elected: c. c. Baldwin, Geo. E. Clark, c..
II. Clark, F. D. Carley, j. W. Evans, E. H.
Green, j. E. Green, j. T. Rogers, G. A..
Washington, Jas. S. Woodward, Jno. NJ.
Brockman, w. C. Hall and W. S. Adams.
| Ex-President Standeford was present,
having in his possession a number of
| nrovios Ha ccrotcbo6 tho n uamoc of CorIov