Seattle daily post-intelligencer. [volume] (Seattle, W.T. [Wash.]) 1881-1888, 1883-08-21
nllLY Posi- IBfELLdGEECER.
TmE OaEGOv ASD TRASsC0sII'

DAILY POST lEfgLLlGEHCA
TME OREGov AsD TRAxsCoSTI.
MENTAL
Al the beginning of his annual report,
for the year ending juno Both last, Mr..
Henry Willard, the President. recalls
the purposes for which this company
vas formed, a. follows:
"F;ye-To acquire and hold . con-
s,oii;ns interegt IN the stocks Of the
Northern Pacific and Oregon Railway
assrozi-To promote ths Conpsnys
axn intsrSst, e the holder II suoh
stocks. by the creation Of such sanitary
systems Of railroad, stsamssp ana
etaamboat kines ~ would tend 20 PRO
test and fnossass the zanspofsss'o0
basipsss Of thsss two oospcsst,ons
Tzird-To snGngs W eocn ot0s. coD
msrc,aI and industrial sntsrpnses -
would tsnd 70 hasten ana viosn w
general dsvslopmsnt Of the ossses ana
Territories trsversed y tns No1sIean
Pacific and OfeRoo ka1vsy ana Nss'
Gn&100 oOWp20ISy n.y.
The general balanos snsoe o. ne Co0-
pany shows The aseets o. soe Co@peoy
70 include stooks, hooda. lands, money
in bank, sEe., 70 tbs a0peeass amount
Of 90 ,76.
NJ. Wizard remarks: ITO demon
ssrass the htnsn and peo0fableoso Of
oar work, IL su@ess 70 rsfee % the last
that we have undertaken tho Renef1
dSvelopmsnt Of . territory representing
ons-sixth Of the area Of the entire Uni.
tea 6tatsa, and which, In IL beauty and
variety Of sesnsry, climatic condition.
and wealth Of agricultural. minsfAi and
other natural resources, peeoents - sQro
guarantees Of Q pfospsrous future -
auy part Of the Union.
"a stated 10 Cur last annual report,
oslv "a, 600 Of the 100000 OF
capitai stock authorised By the board Of
directors had thsn besn paid for and
issued. The remaining $3.50, 900 hsvs
been raid for and issued during the our
rent dsoal year. - also an addition
ii isgue Of $1,000 600, authorized By
the resolution OF the board Of Sept. ~,
1882. 20 that outstanding capital stock
n the cod Of the fiscal year was $4o. O0O,-
600. OF the nsw issues during the year,
6DOO0 shares were exchanged for 6O,OO
shares Of Northern Pacific preferred
stook. and tho remainder sold in large
blocks for cash TO various parties.
IA statement of the holders Of this
comuany of Northern Pacific and Ore
CON Hallway 4 Navigation stocks shows
fhat At the close of the fiscal year, that
d, on June 30. 1883, these holdings
we're:
Shares.
Northern Pacific commop... 49,, 792
Northern Pacific pfsfsrred.. .l6l 30
OREGON Railway d Navigation
Including new stock ...... .lB,bS
1.-THE capital stock Of the Oregon
Railway and Navigation Company. up
on the issue Of She additional shares
now being paid for at par In install !:
ments, viii b 81 600 900. represented
by 10000 shares. With the shares 70
which il will become entitled upon the
peyment Of the last installment, the
company will own 6636 shares moro
than AN absolute majority OF the out
standinR stock, on which II will receive
regular dividends at the rate OF ten per
osut, The outstanding stock Of tho
Northern Pacific Railroad Company
was on June 30, 1888:
Shares.
Common stock. .................$ SU,NUU
Preferred stock inst deductinR
cancellations during tbs year
lSe28) ................. ....siS,o0i
Total. .W9.U9l
OF which total the above holding repre-
eeuts 81. 004 Der cent, or moro than one
third Of the existing stock capital. In
the opinion OF your board this holding
r. su}icisnt for continued control Of the
company. Il IN. however, IN the power
Of the company 10 enlarge 10 owner
shin OF Northern Pacific stocks at any
time. We would mention that sufi-
cisnt stock 10 owned and represented BY
your directors, a. we'll - BY tho direct
ors Of allied corporations. TO constitute,
together with the holding Of this CON-
pany, an absolute majority"
The sale Of 1leh miles Of branch lines
constituted one Of the largest financial
transactions during the year. 1T was
made In pursuance Of contract en-
tered into between the Northern Pacific
aud the 81. Paul, Minneapolis and Mani
tolA Company f1r the permanent ssttle-
msnt Of long pending dtfncultiea, BY
maans Of an exchange Of auxiliary lines.
which would make the Northern Pacific
systsm q strictly east and west one, and
that Of the other north aud south line.
Your Beard considered Il In the interest
Of this company, A. the largest stock
holder In the Northern Pacific, In order
20 put q definite end 70 the invasion Of
tho lattsr's territory, 70 consent 70 the
sale. at cost and interest, Of the follow
Miles.
Caasolton Branch .....,....... 6
4anitoba- Southwestern Coloniza-
Pelican Branch Of the Northern
Pacific, Fergus Falls and Black
Hills Branch ................ =. I'm
I0sal. ...,............ ..ll6H
'sThe sale Of the Cassslton Branch
also included 80 miles Of grade. Under
the same contract this company bought,
also q Oost and intsreet, from the 81.
Paul, Minneapolis and Manitoba CON-
pany, g miles Of duished Qrade, ex-
tending westward from the terminus Of
the Nerthern Pacific Fenans Falls and
ese.So AAaeA8 ASe0ASS1sp ~ 49, 49, AssNVs
md 80 miles moro Of partly finished
gIade upon another line.
"All the branch lines constructed and
being constructed % far In Ainnssoea,
Dakpea and Montana, havo bsen and
viii b nnanciored und6e Tie plan nrsl
communicated 70 you b eifuuIas cfnay
d, 1854, and sahspqusntly repsineed IN
Cur Arse annual Report. hut In tha
eess Of one q ~ bsaAeAss, The Column
bic and PAlcass Taiivay. In EastsRu
WashinRtou Territory, ths greater eoss
q the line eompsllsd the adoption at Z
different plen, easssdina 70 whioh 70.
tAliAus q oSoMo pr 0ils of anishsd
rad In arse s.esiGaes eollaaeral trusl
bonds viii - mads By Ills company
aeatnse HIS Amount Of ths 0rse mort
eags bonds Of thsCslambla and Psloas'
railway company.
THE amount Of The advances 10 tn
Nosthssn Pasiae varied considerably b
The ccurss Of The year. Their maximun
amount vas e6,3SO,6SA vhile at thu
clos Of business on June S0tA they vsss