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

Of road actually completed and accept
cd by the President of the United
States. The restriction was made In
of a provision of the plan
Of reorganization made and adopted In
une, 1875. when, as to great part OF
the work to be accomplished, only a
general comprehension of its magnitude
was possible, and the stupendous DIM
culties in its way could not have been
fully realized. The plan of reorganiZa-
ton was compromise of conflicting
interests and opinions, and. in its wise
and polite provisions. il reflects credit
upon its framers- But the means 1t
and provided for, vherewith
to complete and equip the road, are,
inadequate, and this for
reasons which, as before shown, were
then impossible to be foreseen.
TO avoid, therefore, the embarass-
ments of large floating liabilities, aris-
ing from causes such as are above men
toned, an arrangement was entered
into with the Oregon and TRANSCRIPT
mental Company, under which that COM
pany was To make advances of the
money needed, and to accept therefor
such negotiable security as tRis compa-
ny is competent to give, the terms and
forms whereof are 10 be decided upon
hereafter.
The volume of the preferred stock
il being continually and steadily re-
duced through the sales of lands In
Minnesota ard Dakota, east of the
Missouri River. At the end of the us
cal year, June 20, 1888, there had been
Cancelled and extinguished IS. $50, $50. 10
of the original $5l 600, 600, leaving then
existing $41, 749. 1880 preferred stock,
including fractional scrip.
I'm view of the necessity of using all
the available resources of the company
for construction and equipment pur-
poses, your board deem it unwise to de-
clare cash dividends before the main
line should be completed. so as to fur
nIsn through line for rans-continent-
al traffic. The great result now being
accomplished, the time appears to be at
hand for a stricter recognition and sat
isfaction of the claims of the preferred
stock under the plan of organization;
and, with the certainty of increasing
earnings, keeping pace with the growth
of the tributary country, and the pros
pect of low operating expenses, by rea-
son of the discovery and development
of the coal fields of central Montana
and western Washington Territories.
your board feel warranted in expressing
their belief that the payment of regular
dividends on the preferred stock may
be reasonably expected to begin at an
early date"
NEW CONSTRUCTION.
The report says: 1.-The work of con-
struction on the main line and branches
has made satisfactory progress since the
last annual report"
WISCONSIN DivisiOn.-During the
early part of the fiscal year the work on
the first % miles of this division, from
Northern Pacific Junction to Superior,
was completed. Surveys were made
last spring for the extension of the divis-
ion as far as Ashland, GO miles from
Superior, and contract was made fol
the clearing, grading and bridging.
Thirty miles of rOadbed will be com
pleted. and the track laid before the
close of the present working season, and
the remaining 30 miles will be finished
early in 1884.
"rhe Great Tunnels.-1he total
length of the Bohemian tunnel is 1872
feet. OF this distance there had been
excavated June 30. 1888, from the Cd At
end 1866 feet, making a total of 1907
feet, and leaving 1705 feet yet to be
opened at that date. 1t is expected that
this tunnel will be completed by Jan
uary /, 1884. The Iron Ridge tuanel, IL
miles west of Helena, having total
length of 533 feet, was completed in
April last. Up to February |, it was OK.
pected that the Mullan tunnel would he
completed in time to lay the track
through in June; but the work WAS de-
layed by the falling of masses of rock
and the necessity for protecting the
sides aud roof with heavy timbers, 80
that no progress was made at the east
| ern end for two months. The length OF
the tunnel is $3.50 feet. On June 80
| 1883, there had been completed at the
east end 2077 feet, and at the west end
| 1465 feet of beading, and SSS feet OF
bottom, making the total of heading
3542 feet, and of bottom 1866 feet, and
leaving to be completed 30S feet of
heading, aud S55 feet of bottom. The
headings met on August II. If no new
and unforeseen difficulties arise, this
tunnel will be completed in October.
Portland DivisioH.-rhis division
| extends from the west bank of the Will
lamette river in Portland. to the south
| bank of the Columbia river at Coffin
Rock, opposite point two miles below
| kalama, a distance of ~ miles. The
| grading and bridging on this division
are we'll advanced, and it is expected
that the track will be- laid early In the
autumn, and the ferryboat be in use il
The spring of 1884. CHE track is nov
all laid)
Little Falls and Dakota.-At the be-
ginning of the fiscal year s. miles OF
track had been laid. During the year
the line to Morris, S7s< miles, was com.
pleted and put in operation.
| Northern Pacific, Fergus and Black
Hills.-Traok-la laying was resumed al
Fergus Falls in August, 1882, and has
now reached point 40 miles west OF
Breckenridge. Total amount of track
laid during the fiscal year, 65 miles
About pa miles of additional grading
is ready for the rails, and the track will
soon be put down, thus reaching the
terminus at Minor, III miles from Wa
dena.
Fargo and Southwestern This
br inch starts at Fargo and runs in a
southwesterly direction to La Mo1re,
on the James river, distance of 8716
miles. Track-laying began July, 1882,
and was completed TO Lisbon, 55 miles,
in December. During the present sea-
son the track reached the terminus, La
Moure.
Jamestown Il Northern-This branch
leaves the mair line one mile west of
jamestown, and runs in a nertherly di-
recti0n 50 miles to the west end of
DEVILS Lake. Considerable grading
was done during the fiscal year 1872.
Track laying began in August last, and
had progressed as far as Darlington, ~
miles, at the beginning of the winter.
The Rra ling is nearly completed to the
lake, and the track will soon be laid. A
survey has been made for an extension
OF the limo to the Dominion boundary.
National Park Branch.--This line
was located in October last, leaving the
main line at Livingston and running up
tue Yellowstone River to the northern
boundary of the National Park, q dis
tance of 81 miles. The work WAS CON-
menceA last spring. and Was completed
in August.
"Paiouse Branch.-Track WAS laid,
prior to the end Of the fiscal year. from
Palouse Junction eastward q distance
of 81 miles. Track laying has since