The daily morning Astorian. [volume] (Astoria, Oregon) 1883-1899, 1883-12-27
EX-yIIAARD STOCKS.


IL Mr. Wizards annual report TO
the stockholders OF the Oregon and
Transeontinental company, he report
ed TO them that on june 80 last the
Northern Pacific company owed the
o. L. company S2,719,299, and that
the loans due by the latter company
were SS,j61, ,457. From ihis il was
inferred that the floating indebted
ness Of the Northern Pacific did not
greatly exceed the former sum. The
annual report OF that company, issued
Sept. 20, showed that on June 30 its
floating debt was 81, ,9S6, 50A On Oct. 6
the directors were asked 20 take steps
toward authorizing a second mort
gage on the Northern Pacific prop
erty for S2O,O00,0C0, in order 10 pay
a floating Indebtedness OF S9,4j9. 800.
and also to raise S5,500,0G0 which
would be required TO complete and
equip the road They had previously
understood. or most OF them had.
that the company had sufficient
means for the purpose mentioned.
At that time it was also understood
that most OF the floating debt was due
the Oregon and Transcontinental
company.
At meeting OF the executive COM
mittee of the o. I. company held De
cembcr 11th, at which it was decided
TO pass the usual quarterly dividend
in the stock Of that company, it was
discovered that the floating debt OF
the company had increased very mate
rally since June 30. The company
had Just received about $7.0O0,000 in
cash and second mortgage bonds
from the Northern Pacific company,
and one OF The directors who had ex-
amined the affairs and books OF The
company, as far as he was permitted
10 DO, elected from Mr.. Willard that
il still owed over 21G,090.OG0
A committee representing the Bos-
ton interest IN the concern, The syn
dicate Of bankers that has negotiated
the Northern Pacific securities, was
appointed TO investigate the affairs
OF the company. Willard furnished q
memorandum. written from memory.
Of the assests OF the company The
points are thai the company holds
securities or Che par valup OF 2CO0.-
010. as follows:
Oregon Railway and Navigation
stock, SI5,23l001: Nor3harn Pacific
commoa stock. %lio)a010: Northern
Pacific prcfe5reA sock. 5l5.7Ja000:
Northern Paci&- acond mortgage
bonds. Oregon and California bonds.
S2,Sj0,01l with a varie,y OF other
securities 10 Tie amountof &S.7J0.C90,
The market yaluc OF these securi-
ties is about Sl0,G03.113, against which
there IS indebtedncss c. about SlG.-
090.012, ieaving inc ne as5a.s or ihe
COMPANY S2L0oG.Goo.
The increase cf iho Indebtedness OF
the company from &SG91,CGa 80 ~
hOo,00J within six months can be
accounted Tor oniy cpon TIE theory
that the functions FOR which tie com
pany was FORMED, namely. spccula-
ton. having been exercised down TO
date. and that the losses have result
ed from the protractei attempt 20
sustain in the market the securities
OF the Northern Pacific system.
DURING the visit Of Lord Lorne
and Princess Loaise 20 British Co
lumbia, they were presented with Z
large number OF valuable souvenirs
10y the Indian chiefs OF that PROV
Ince. On acknowledging the receipt
OF them, Lord Lorne promised that
on their return to Ottawa they would
send ont some mementoes OF ihe oc-
casion. Although several months
have passed by and Lorne and Louise
have returned 10 England. the In
dians have heard no more OF the pres
EMS promised, and naturally feel they
ha'e been forgotten. Having ex-
pressed their dissatisfaction at the
way in which they have been treated.
Sir Alexander Campbell. minister OF
justice, has taken the matter in hand.
which viii probably lead TO Lord
Lorne receiving a reminder OF his
promise, which he probably has for
gotten.
The London Times is worrying its
graudmotherly old head with respect
to what viii he 1.-The gift OF America
TO the common stock OF ideas" Well
America has contributed to the ''com-
mon stock" first OF all, her govern.
ment Second, she has given the
steamboat and the electrict telegraph
The sewing-machine is also a pretty
.rgan1 ,.r-,Ar.I,,,4..,