Seattle daily post-intelligencer. [volume] (Seattle, W.T. [Wash.]) 1881-1888, 1883-09-22
EASTERN NEWS.
ASSOCIATED PRESS DrsrArraE>


re Northern Paeine's Annual Report
NV YosK. Sept. 20.-'rhe annual re-
corf of the Northern Pacific Railroad
for 1888, shows gross earnings 1885,
40: increase, $2.425,158. Expenses,
e .929; increase, 81, 20, 069, and net
earnings, $2,5lS .529; increase, $6Sl ,0G4.
The treasures statement shows balance
INV LIST 1892, 1908 .923; received from
earnings, land department and miscel-
laneous, Sc. 379, 024; proceeds of bonds,
$4,000, 900; preferred stock sold, $751;
i69: loans for construction, $542. 0s1.
Total, $37, II, 139.
The express and telegraph business
carried on by the company show en-
oouraping figures. Gross earnings of
the former, x927, 729: expenses, fs5t--
479: leaving net earnings of xl42. "a.
The telegraph system is also greatly sx-
tended.
From the prospect of low operating
expenses it is the belief of the directors
that payment of regular dividends on
preferred stock may be reasonably ex-
pected TO begin at an early date.
While the earnings per mile of older
portions of the road show a satisfactory
Increase, the rates of earning to the to-
tai mileage was necessarily less for the
fiscal year list closed. than the proceed
ing year, from the fact that of the adai-
tionaI 100 miles of the road operated,
nearly GOO we're newly constructed, tbs
line traversine regions where the road
had created settlement and business
field a. it advanced. The earning ca
pacity of this mileage will soon be de-
monstrated now that the connection of
our tracks has been effected and the
line opened to the Pacific coast. OF the
procseds of bonds y, 593, $40 were paid
June 30, 1883, 10 the Oregon and Trans
continental company. on account Of in
debtedness for loans advanced. Phe
excess of expenditures on account Of
construction and equipment amounting
TO $3.50, 507 over cash receipts from the
proceeds If $4,000, 600 general mort
gage bonds. sales of preferred stock and
other sources ofincome. This arises from
several causes, chief among which are
increased cost of construction, engi-
neers' esti mate of expenditures for mo-
tive power and rolling stock to keep
pace with the increased traffic of the
road. To avoid the embarrassment of
large floating liabilities, arrangements
were entered into with the Oregon and
Transoontinentai company under which
that company was to make advances Of
money needed, and to accept therefor
such negotiable security as the com
pany Was competent to give; the terms
and form whereof were to be decided
hereafter. The time appears at hand
for strioter recognition and satisfao-
ton Of the claims of preferred stock
under plans of re,rganiz ,tion, with the
certainty Of increasing earnings.
The following resolutions were passed
at the meeting of stockholders Of the
Northern Pacific X. X. Co.:
WHEREAs. On the 8th day of Septem-
Der the main line of the Northern Pa
cific Was completed 40 as to furnish a
through line for traffic between the At.
lantic and Pacific. y highway to Europe
aud Asia, and. above all, foundation
for the prosperity Of future States and
millions of citizens of our own country,
an event of great Importance not only
70 stockholders, but also to the people
of the United States, and one which,
few years ago, seemed to be almost
hopeless of accomplishment; and,
WHKREAs, 1t Is fitting that we place on
record testimony of our appreciation Of
the efforts to achieve this result, and
recommendation OF the means by which
IL has been attained; therefore,
Resolsed. That We. the stockholders of
the Northern Pacific Railway Company,
do hereby tender to the Board of Di-
reOtors our earnest thanks for their
faithful discharge of the trust commit
ted TO them, and for the wise measures
they adopted to provide means to com.
plete the great undertaking of construc-
60n Of the N. p. Ry., and We offer them
snr congratulations on the SD ocess that
has crowned their work.
Resolved, That the thanks Of the
gtookholasrs arc dus and are here
by rendered the President Of the com
pany for the ZEAL, determination, untir-
ing energy, ssgacity and foresight dis
played by him in carrying out to a
triumphant issue, in the face of M.
parallelled obstacles and difficulty, the
end desired.
Resolved, That thu Vice President of
the company 10 entitled and is hereby
rendered the thanks Of the stockholders
for the faithfulness. skill and ability
with which he has managed the bust
ness Of construction of the railway and
property and other interests of the com
pany.
Resolved. That the completion of the
Northern Pacific Railroad entities tke
projectors Of the enterprise, those who
bravely undertook its execution. the de-
voted number who adhered to its for
tunes through good and evil, and the
new men who have recently joined the
enterprise, pledging their fortunes and
credit TO secure its early completion, to
the thanks Of the stockholders and the
whole country.
The Odd Fellows.
PRovmENcE. Hept. 20.--rhe Odd Eel.
lows refnsed to strike the word white"
from their constitution. Minneapolis
was chosen ~ the place for the next
annual meeting.
DieycliaG.
SpRlsarIELD, Mass, Sept. 0.-The
attendance at the bicycle tournament
today numbered 1900. Il includes
drill, which the Rochester, N Y, club
won. 0serge Nash of Springfield gave
IN exhibition Of bicycle riding. The
one mile scratch race Was won by Carey
Of Boston. in 2:5l &-5, beating the rec
ord. Robinson, the Englishman, also
beat the record. In 2:52. Hsrdee, of this
city, beat the record In the first tkrse
quarters. but gave out near the finish
on acCouns Of injuries received yestsr-
day when the crowd broke into the
ttAck. IN tue uvo milo 6Wateuf uauOt-
cap race there we're ten contestants. II
was won by Chas 8. Fiske Of Spring
nsld BY half length in 1859 3-5, Chas.
Fraser OF Smithyilie. N. j.. second and
A. b. Prsnoe Of Pittsfield third.
salt ~ Kmbeulc0ens.
OMAHA. Sept. 20.--Suit has been b.
gun In the y. 3. District Court against
Lev E. Oropsy. the former U. 8. Con-
sal q Chemnitx. Germany. for embez-
element NJ Government funds, amount
ing % &2t00. while he was Consul abou,
eight years AGO. Cropsy II veil known
throushout Nebraska, and for two oil
three years pAat has BEEN connected
With the Chicago, Darlington 4 Qaincy
Railway.
2aWtnGs
RocHEsrEa, N. T., Sept. %. AT Sods
Point today, in trial heats, Leo won tbs
Ora place. Riley second, Elliott third
Davonett fourth. Time. 2.&7ll. second
tr,al heat: Ross firss, Teneyack secoud
0axelle third. Sexton fourth, Pisiste