Seattle daily post-intelligencer. [volume] (Seattle, W.T. [Wash.]) 1881-1888, 1883-10-12


Montana District. -. 33,940 l44,4os
Pend d'Oreille Div. 1881 1854
Pacific Div. 1886 i34, 1875
iOtH tDl+ % %O,tpi,coi
Town lots, all divisions. 49,. 330,97l
Total amount of sales. 50, 392, S32
The total amount of sales in lS3l-S2
was xl,576,2J6. The report on this sub
ject says:
at il worthy of note that not only
has there been large increase In the
number of acres sold during the pa t
fiscal year over the sales of 1882, but
also that the average price per acre OBJ
tanned for lands sold has been materially
advanced. The increase in price is es-
pscially noticeable in sales made in
Montana and Washington Territories,
where the advance has been largely Sc
cured by judicious system of appraise-
ment in lien of the uniform price in use
IN previous years.
This increase in average price per
acre is, in the Eastern District. (Minne-
sofa IL Dakota, Missouri and YellC wstone
divisions, $0.l9; in the Montana district
&l.65; in the Western district pend
d'Oreille and Pacific divisions; $l.S2;
average over all divisions, $0.16.
"The total number of separate pur-
chases made for the past fiscal year was
2il7, az against 1850 in 1882.
"The average number of acres sold
to each Purchaser was 314 81 acres.
and the purchases have chiefly been
made by actual settlers for immediate
improvement.
"There has been an active demand
for town property at good prices. Sales
Of town lots during the fiscal year were
$330,97 OF these sales ut Livingston
were xl73,845; at Bismarck S57, S77; at
Townsend $20,3
"The development of the extensive
regions tributary to our road has gone
on rapidly, and the results of the years.
growth are in all respects gratifying.
They fully justify the position taken by
the company in its reports and publica-
tons, that these regions offer the most
inviting field to immigration now to be
found within the borders of the United
States. An official statement recently
given to the press by the General Land
Office at Washington shows that in the
ten new States and Territories where
the largest transfers of Government land
are made there was, during the year
ending June 30, 1888, an increase over
the previous year of 30 ,2l9 in the mum
Der of entries (cash sales, original home.
stead entries and timber culture entries)
and 3, J05, S43 in the number of acres en-
tered. The amount received from cash
sales increased from $3,3l3, 1874 in 1882
to $7,554 ,449 in 1888. In Dakota the
number of homestead entries increased
from Ia, l56, covering 2,207 .265 acres, to
22,49l, covering 1885,. 227 acres. The
number of timber culture entries ran
up from 1868, covering l,456, $50 acres,
to IL ,566, covering 1,765, $50 acres. and
the cash sales increased from GA, 38s
acres for $977, 242. to 1,5l8.09l acres for
$3, 1923 Thus it appears that of the
years increase of 3,505, 843 in the num-
Der of acres of public land taken up
2,203, 4S9 must be credited to the Terri
tory of Dakota alone. In Washington
Territory also there was a remarkable
increase. The cash sales increased from
II IA acres for $l02, 345, to 252, 0S6 acres
for x571 ,446; the original homeste I'D en-.
tries from 81. 1872 acres to 1856, 77S acres,
and the timber culture entries from 81,
524 acres to 143,4l2 acres.
"In Montana the entries aggregated
407 COS acres, against l97,475 for the
previous year. Of the goverumen,
lands entered during the past twelve
months in Minnesota, Dakota, Mon
tana and Washington, 20,9S3 entries
representing 2,905, 900 acres. havcbeen
made within the limits of the Northern
Pacific land grant. 1t would be fair to
estimate that these entries represent
5000 heads of families, who have made
settlements in the even numbered sec
tions adjacent to the oompany's land
during the year."
FINANCIAL STATEMENTS.
The report says: AT the close of the
fiscal year ending June 30, 1882, the syn-
dioate had taken 80, 000, 900 of the gen
eral mortgage bonds. having further op-
tions for $l0,0O0,000 in lsS2 and 3d.
100000 in 1888, which, when taken,
would complete the contract. The &c.
100000 for 1882 were provided for by ac-
ceptanoe of new road during that year,
and were promptly taken by the syndi-
cate. In the spriAg of 1888 the syndi-
cate had disposed Of $3l. 0O0, 900, and
offered for sale the remaining s., OO0.
600, which were all subscribed for, and
on June 30th the entire option for 1893
was declared. Il WAS not in the power
Of the company, however, at that time
to deliver all the bonds called for, in
consequence Of a sufficient mileage of
new road not having been accepted; de-
livery, therefore, was made only of such
an amount OF bonds as could properly
be issued under the provisions OF the
mortgage, and the IN Sney for the re-
naming bonds has been credited TO adj
vances on general mortgage bonds. OF
the proceeds OF these bonds x4,593.-
$500 was paid June 30. 1888, to the Or
egou q Unconstitutional Company on
account of the Indebtedness to il for
loans aud advances.
"The excess Of expenditures on 40
count Of construction and equipment
1888, 505.32) over the cash receipts
from the proceeds of the $40,O0O,6 900
general mortgage bonds, sales of pre-
ferred stock and other sources of in
come, arises from several causes. In the
nrst place, the cost Of construction ex-
ceeded the engineers estimates. The
work was TO Do done in remote regions,
the natural conditions of which, such
~ climate, seasons, character of soil
and streams, and geological formation,
we're 20 many unknown factors enter
ing into the construction problem. Thus
to mention some instances iliustyat-
ing this-the cost of road bed along the
Yellowstone and Ctark's Fork of the
Columbia was very much increased by
the waters of those rivers washing out
and undermining the banks; aud the
lunnels through the Belt Mountains and
the main range of tina Rocky Mouu-
Iains cost nearly 80 per cent. more than
The original estimates. simply because,
loose material waa encountered. Next,
the construction account embraces the
outlay required mot only for building
The road issslf In . tirst-class manner,