The Dallas weekly herald. [volume] (Dallas, Tex.) 1873-1885, 1883-10-25

|
Paris announced the death there this morn
] ing of the wife of John Russell Young,
minister to China. Mrs. Young was neice
OF the late Governor Jewsls.
| Railroad Circular.
New York, Oct ga circular will be
sent to each preferred stakeholder of the
Northern Pacific railway, as soon as the
| list can be copied from the stock ledger,
looking towards the, execution ion oo OF
The circular says: Your board consider
il thar duty to submit the following ex
planaiion relative to- the objects of the
meeting: In our report for the fiscal year
of 1883 you were duly advised of the ex-
pense and of the deficiency arising from the
excess in the cost OF construction
aud equipment Of the main line over the
available resources, and amounting June
Goth, 1888 to $7,9S6 SOY. You were further
| informed that to avoid embarrassment to
| the company from the pressure
of a large floating debt the
arrangements had been entered into with
the Oregon and Trsnscontnental company,
under which that corporation made the
necessary advance, and in open account 1t
was agreed that this company should Sc
cure these advances temporarily, by an
issue of such obligations as could be created
under restrictions ola plan REORGANIZATION.
this assistance has proved OF in
calculable, value and besides as
the road it has saved this company during
the construction from serious enbarrsss-
ment that a large floating debt would
have entailed. The deficiencies at the
close of the past fiscal year was
increased by further requirements from
construction and equipment purposes, be-
tween July / and October l, by sum OF
| go - LOTT dot
cd to So, 459 920. Ever since 1t became evil
dent the main line could not be completed,
and equipped from the proceeds.of the sales
of the first mortgage bonds, your board has
heen fully impressed with the necessity OF
dealing with the deficiency at The earliest
possible moment, but no measure OF
relief could be determined Hpop, and
nrnposed to you, until the actual cost of
The main line over the available resources,
conld be ascsrtained with accuracy
which was not prsctiea - uatil the
| construction work had reached its
Latter stages, it is Indeed only
now we ere prepared to make q deflnue
statement in thls report. ihete VIII De re-
ouired, in sddition 20 the deficiency OF
40 $50 800 October lst, the sum OF so 20,
GOO for the following pnrposes: oraccru'ng
construction estimates and vouchers
81 eco, OOO for completion OF the main line,
including main shops, station
houses, water tanks, coal Dunk-
ers, etc., Sl,267 600; bridge over Snske
WORK on bridge on the Willismette river, at
Portland, Oregon, $4,000; additional mo-
tive mower. s746 600; additional rolling
stock Al 2G6 600; miscellaneous, $l06 900;
total, So 500 900 This amount will provide
funds TO finish the construction and
equipment Of the road; excep. SI9ooyO,
which will be gradually needed In the
course of two years subsequent to March
18Th neg. for the completion OF the bridge
over the Willamette, and II can be readily
met ont If the current income,
or cut OF the reserve OF The
bonds hereafter mentioned We
nave thus total, exclusive OF the cost oil
the Willamette bridge, OF $l4 $50 800.
II is due TO you that you be told plainly
so that you shall understand clearly
the causes that combine TO pro-
Guca this deficiency. In the first place
, the cost of the Yellowstone, Clsrk's Fork
and Pendleton D'0rville divisions was
grester by IS 5o000O than the engineers
, original estimate. The loss OF material en-
conntered instead OF solid rock 10 Bozeman
and Mullin tunnels, has largely in
oraa.ad the cost of this work,
over estimates, besides the necessity OF
constrnoting an overhead line, at cost OF
s140 600. the cost Of the Bismarck, Snake
| river and Willamette bridge Will De more
, / than eXDeCteOs OWl'B W AaS 800 Wv VI
foundation, approaches, etc. Then again,
tba development of traffic was such that
fnIlv 4 per cent. more motive power and
aoninment was required than had been
estimated. Last and not least the Mime
: .ots' Dakota and Missouri division main
I lines we're in such condition, and the re-
! ouiraments Of business 50 large, that IN
order 20 render them safe and economi'
! cal the operations required, mAkei
tha totai expsuses for the last three
years s3 s4O,5j1. The renewal OF track
and suaerstructure. erection OF shops, etc
was indispensable. The cost OF erection o.
, ONCE buildings at e. PsqL Is Also ineiuoed
in these expenditures. We DO Dot hesitate
, 70 saw that Il is a. good q road as has ever
: hheen built, for the money wet Of the Mics
tuvinui river l. has been examined b. Z
E number Of eminent American and
foreign experts sincs the opening
"a through traffic. and their united tesii
= mony is 10 this efiect,and u ~ 100, through
| ffs character Of construction thht the exec
: aft-g rcIu sl cost over zoe sstimste mus
7 ~ LARGELY sssaiicd, but on ite 0iheT hall
fhr rosa vii hereafter BE- operated - muct
= -,r-s cfeapis and fiiicienilg In ccrse
: ousrcs through the msuner IN Which ]
|. has been Dulit inst si9ckn1lie
!, ,vIi fri thev hsrs fuii equivalent in ft'
J .,Ls.red ctpenfifurss. afffr due c1n
z ri4erafisn Of The Fitusii11 Of the CON plHi
: lin All fs bearings, your board conc L q
10 request your c0ussrt 70 the edition 3
. secfrd mortgage. e. seclriiy I0r a. issu
al 40 gog eeo, O ptr cent. gold bond
The new noresEs 20 Be d
4 al property Of tlis c1mpanys q
:. vbirh we're reserved b. the pian q re1i
gsnirsiicn. Tor the benefit Of pfsisrre
stock. sus;ect only 70 the priority q tb
present fsnsrtl norrtfs sEd d VII B
}. rnilsr 10 terms ard conditions 70 The Esr
y sr.l msrts.fs, ard subjsct % iu LEM
2 Yer board u rls<sed V s.r u has rscsivs
? bT Drsrsl, Horrsn 4 90. WinslDr Lsrisr
leo. and Augasi Belmont 4 %. - tek