The National tribune., 1883-12-06
OUR GROWING COUNTRY.
Its Industrial. Commercial. Railroad,
and Agricultural Development
AND ABE.
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Mr.. Franklin B. Gcwen, president Of the
Reading Railroad Company, ia an interview on
The 25th inst was asked whether, after retlr-
ing from the presidency. he intended to remain
in some way connected with the company. BE
replied that he thought the company could get
aiong without his help; that its earnings We're
greatly in excess of its fixed charges, aud that
the January dividend would be paid il the
stockholders approved Of it. The dividend viii
not be authorized until the l4th Of January,
long before which ali arrears Of interest will
have been paid They had not been paid before
because The company had pledged its word to
those who voluntarily surrendered millions of
Its securities IN exchange forothers thatit would
usy no dissenting bondholGer voluntarily.
Every man who insisted upon being paid and
brought suit, or even threatened suit, was paid
In full or given security for payment Outside
OF one holder, with whom negotiations are now
being conductee. the total amount Of overdue
coupons is less than two days business receipts
of the company. and could be discharged at
any time. In regard to keeping up the SIX per
cent. dividends in the future, Mr.. Gowen said
he had no doubt Of it. The earnings Of the
company for the last three months are at the
average rate of over II per cent. per month
upon the share capital, and November is ex-
pecfed to be equally good. Hesaid he felt con-
fdent that for every month Of full work at
present prices the company can earn fully Il per
cent. per month upon its share capital.
In his report for the year ended June 30.
1882 Oh the foreign commerce of the United
States Mr. Jos. Nimma chief Of the bureau of
statistics shows that the total value Of the i'm
ports and exports of merchandise during the
year amounted to $I.5f7,030,3I6, and was
larEer than during any previous year in the
history OF the country. The excess of the
value Of the exports over the imports Of mer-
ch2ndise was SICK, 65S4Ss, against an excess OF
$3.50. 6S3 the previous year. The commerce
with Great Britain and Ireland constituted
nearly 40 per cent. of the total value of the
foreign commerce. The total duties collected
upon imports were s210.6S7 ,22s3, against S2i6,-
135,916 the preceding year The value Of agrl-
cultural exports during the year was S5l9,-
269 4ss, and Of manufactured products SILL
e90.001. against SOB I32 4sI the preceding year,
being larger THAN during any previous year.
The total number Of immigrants TO the United
States during the year was 603. 53222 against
S6esyS2 the preceding year.
A decision was rendered by the United States
Supreme Court On the Goth IN the Brooklyn
bridge case of A. B. Miller against the Mayor,
&c, Of the city of New York This was a suit
70 restrain the building Of suspension bridge
between New York city and Brooklyn, and 70
have III declared q nuisance on the ground that
II affected and injuriously modified navigation
O. the East river. The court holds that mas
much IS the bridge was duly authorized, both
by Congress anE by tho State. and inasmuch as
Congress through the Secretary Of War. de-
Aared, after full aud careful examination that
TIE proposed bridge if built SO as to be I35 feet
above gean high water, woEid not injuriously
,rad;fv - navigation Of the river ii cannot
now be aeeH4r5d nuisance or an unlawful
structure.
reatexc;tarnen+ reevails throughout West
crn Montana over rich 'spineral discoveries in
the Cenr Alene Mountains, Prospectors VINO
have returned from that region state that no
mines have ever been discovered IN the history
of the Western States and Territories equal IN
richness and volume 10 those of the newly dis
covered field. The minerals consist Of silver
teliurium, and free mining gold. About SI0G
per man day is being taken out of the rim
rock Of the cnlches, while ia the clutches fron
So 10 $40 per man day is being PANIED out
The streams where the End is reported are In
the northern part Of Idaho, nearly 40 mile
from Heron, on the Northern Pacific Railroad
About one hundred capitalists and railroad
men from New York and Philadelphia were q
Saratoga on the path inst. to witness the new
Daft electric motor tried on the proposed road
from there 10 Mount Mc5negor, ten miles. Tb
motor. weighing only TWO tons. drew a ca
tons. The run 70 the end Of the track, littl'
more than one mile was successfully made
On the return trip, while rounding 2 curve a
full speed, the motor jumped the track. doini
no damage. However. The experiment. it j
said, has determined the stockholders to con-
plete the road.
Two deeds have just been recorded whicl
show q remarkable increase in the value of req
estate in tie upper psrt Of Kew York L
kprii last the foUF-s-ory brick ist0ne front
cwclling 90 Fifth avenue was transferred 70
&l65,090 10 party who, day or two ago dis
posed 81 the same for $40 600, the purchase
Burning over for q corresponding amount. IN
Eix-story fats l04 and los East Eigtlty-.irs
street which be took in trade last September
~ $4,000.
The Mississippi River improvement commit
tee have called a convention for the improve
paent Of tire Mississippi River and lis n2gigabl
tributaries, 10 be held in Washington, D. c.. o
February ;.
A party Of thirty-ave prominent Bosto
manufacturers and capitalists arrived AT Ra
righ, n. G.. on the 29th inst. The party wi
nlekea tour Of the STATE 70 investigate is II
sources.