The Portland daily press., 1883-10-15


the Government bound itself not to enforce
the reduction of tolls below such rates as
would afford return of ten per cent. per
annum on the capital invested. With these
extraordinary valuable franchises the Cana
dian Pacific Company took up the work Of
construction in conjunction with the Domin-
ion Government, and the building of the
system has since progressed with great vigor
and rapidity.
The main line Is now complete and In op-
Grafton to within twelve miles Of Sudbury
Junction, west of Sturgeon Bay, distance
of 431 miles from Montreal, with several
branches, the most important of which con-
meets with Brockville, on the st. Lawrence,
The twelve miles to Sudbury will be COM
pleted within thirty days, and a section OF
twenty seven miles farther west has already
beeu finished. BetUeeD this latter point
and Thunder Bay, on the northwestern
shore of Lake Superior, the work of con-
struction is progressing at various points
aud at rate which it is expected will leave
at the end of the year gap OF not more than
426 miles. West of Thunder Bay, which Ia
the great port of the northwest shore OF
Lake Superior, the line is finished and In
operation to Winnipeg, 435 miles: and be-
yond Winnipeg, S51 miles westward, or
1886 miles of continuous road in all, west
from Thunder Bay. There are also in op-
Grafton various branches centering at and
near Winnipeg; while directly south from
Winnipeg two branches are in operation,
connecting on the Minnesota boundary line,
only sixty-five miles to the south, with the
two lines of the st. Paul, Minneapolis and
Manitoba Railway, which runs southerly
through the fertile fields of the Red River
Uailap Fra.,a ta avfrarne waetarn tGTsainua
at Port Moody, on the Pacific Ocean, the
Government is busily completing its con-
tract of 213 miles, and it is expected will
reach by the end of the season Lytton Sta
tion, near the crossing of the Fraser River.
1t is estimated that at least two-thirds OF
this whole section, or about 140 miles, have
been already completed. 1t will be turned
over by the Government free of any cost
whatsoever to the Canadian Pacific Com
pany.
The entire liue is being constructed ac-
cording to the finest standard, and In man
ner that has received the highest praise
from the most eminent engineers. 1t has
been pronounced by some of the most expe-
rienced railroad men in the United States
the best constructed new road ever built on
this continent. AS an evidence of this 1t
may be stated that on the recent trip of in
spection made by the invited guests of the
company, a heavy train was run at the rate
of forty miles an hour over a distance of
$50 miles which had been constructed. The
finished portion of the line has been amply
equipped and furnished by the company with
the best and most approved rolling stock,
and the company owns its own locomotive,
car and repair shops, containing the newest
and most approved machinery. The grade
of the road is most favorable. Between Lake
Superior and the Rocky Mountains the heay-
iess grade is 80 As feet to the mile, while
east of Winnipeg the maximum is but 20 20
feet to the mile. The entire mountain sec
tion embraces less than $50 miles, or
less than half that of either the
Central or the Union Pacific Rail-
way. The growth of the country traversed
by the lines of this system and its extra0r-
dlnary fertility are familiar to every observ-
er. Towns have sprung up along the route
almost in a night. There is nothing excep-
tional in the growth of the city of Winnipeg,
which in 1871 was merely trading post OF
less than $50 inhabitants, and now has
population of $4,000. Coal has for a long
time been known to underlie vast portion
of the prairie section. During the last sum-
mer coal of a very superior character has
been found and is now being mined in the
vicinity of the Bow River, about 700 miles
west of Winnipeg. 1t was lately tested In
one of the company's locomotives and gave
the utmost satisfaction. 1t has been pro-
nounced to be much finer than any coal
hitherto found in the Northwest and can be
delivered on the company's tracks as far
west as the Rocky Mountains at a cost OF
not more than So per ton. This fact alone
is of inestimable value to the company and
solves all doubts as to the economical work
ing of the road. The earnings of the
company per mile for this year are
fully up to those of last year, which con-
sidering the great increase of mileage and
the absolutely new country into which the
extensions are being pushed is certainly
most gratifying. After it shall have pro-
vided fully for the construction of its rail-
way and telegraph lines, the Canadian Pa
ciic Railway Company will have in its treas
ury S10,000,000 of stock unissued. 1t will
have about Is, SOC, 900 acres of land wholly
unencumbered except as to $5,00O,0OO Of
bonds, which the Dominion Government
properly holds as security for the operation
of the railway for ten years, when they will
be returned to the company. 1t is not re-
quired to pay to the Government any inter-
est upon these bonds as it holds them mere
ly as a guarantee of good faith on the part
of the company.
The entire property of the company, when
the railroad shall have been completed, will
be represented by $90,000,000 of capital
stock, and there will be no encumbrance
whatever upon any portion Of the whole
railway of nearly 5000 miles beyond S., ,000.-
600 upon the AL miles of completed line
ho4ra N a
nosiOoH naonOicei "u N.' 80" o
company acquired Dy purchase, anu maue
part of its through system between the two
ocaans
ao.4;,,o doh+ -.
Ine company nds no Hoauhs ueos mnaT
ever except what is covered by materials on
hand III has been having and proposes to
continuo to nav semi-snD1alIv interest div
sS. HAo - ~ =. PJ - - -. ~i.aa - a. -. -
luenus on lts palu' suares ae tne rato VI
not less than five per cent. per annum, and
earnings ia 800 600 acres of land, which can
ha sold ord annIied IN dividend account If
necessary.
THE CANADIAN MA FAolrlo ll,.u... hAis"4Af SfSlhA
Ho"" No"tP'ese"'
MAN Line NIL. vu.. MI.
Lake Superior Section w.,...,,,.
Csllander, westward TO Wannaplus
River. ............... .....:.....,.. 30
Wahnapitie River, westward TO Sud
Duryy alIeduy S.iuou anu W 70 LII -
lsneu III tnlrty ussys =. -: ;..,,... Il
fn IN