Seattle daily post-intelligencer. [volume] (Seattle, W.T. [Wash.]) 1881-1888, 1884-09-17

/ a'nount oy the latter, was fQliy reIatsd
IN tny last annual report.
"A glance at the map of Dakota ra-
wsfis grave danger with which the
Noftnern Pacific had been threatened
TOT some time past-that is. with an in
Vasion OF its territ7ry by those two
gpNer1ni corporations. the Chicago.
hhwaukee and st. Paul and the Chica.
go and Northwestern railroad Gonna
nles IN their rival race for new business
10 southeastern Dakota. When I be-
came President both companies had
1een steadily pushing their lines in the
James valley northward toward our
nam line. lt was obviously bot a ques-
tion OF time when the extensions would
feacn and cross II, and thus become di-
rect competitors. / could see nothing
50 effective IN protecting the company
from the injury of such competition "a
she command Of some means for hurt
ing the aRgressors more than they could
hurt the Northern Pacific. This means
appeared to be the best afforded by the
control OF An independent line to Mil
wankse and Chicago.
There were other strong reasons FOR
seeking the control of such line in the
interest OF the Northern Pacific. In the
nrss pla Q the companies owning the
existing 81. Paul lines also owned lines
20 Omaha with longer haul on Pacific
Coast business than via st. Paul, which
constituted natural temptation for
them TO divert business from the North
ern Pacific Next, the Northern Pa
cific, with its virtual terminus at Mil
waukee and Chicago, could exercise a
much stronger influence upon Pacific
4 Toast Fafaa nd - a..
grafton, than at st. Paul and Minneap-
oils. Finally, at Chicago the Northern
Pacific could most effectually promote
the growth of st. Paul and Minneapolis
and Of all its tributary, as far as said
growth depended upon favorable traffic
rates from the east.
In casting about for the desired line.
found that it could be most readily
and economically obtained in connec-
ton with the Wisconsin Central system.
Tue latter was to be connected at all
events with the main line by the exteR-
sion of the Wisconsin division to Ash
land. Investigation showed that good
direct line to Milwaukee and Chicago
could be had by building not over 100
miles Of new TO I'd from the Wisconsin
Central terminus at Chippewa Falls to
st. Paul, at cost not exceeding 81, ,0OO,.
OOe. Accordingly, the project was ac-
lively taken in hand under the auspices
OF the Oregon and Transcontinental
Company. Its execution was stopped,
owing to the Embarrassed condition of
that company. but has now been re-
sumed by the parties controlling the
Wisconsin Central.
THE LOCATION OF ADEQUATE TERMINAL
sr nA
AND PORTLAND, OREGON.
On taking the presidency | found the
company in no respect 80 i'll provided
as With regard to terminal facilities, es
pecially at its eastern terminal of st.
Paul and Minneapolis. In the former
CITY 1t owned barely sufficient ground
for handling the existing traffic. In
the latter IL not only bad no ground at
all, but did not even possess any means
OF Its own for entering the city. At
Portland, too, the local conditions were
such that it was a most complicated
problem bow TO obtain adequate accom
modatious. To provide what was wanted
at the three points vas altogether for
midablc task, both rs regards the diff
cult acquisition Pf tho needed real
estate, and the requisite financial opera
etohos M bdC OCoh thCbus W ttlc buu,
resort was had at the western end to the
organization of a separate terminal
company, controlled by the Northern
Pacific, the Oregon Railway and Navi-
CATION and the Oregon and California
railroad companies as the sole stock
holders. Three millions of dollars were
raised for its purposes by the issue of
$3 000,0 of bonds. In st. Paul and
Minneapolis the crestion of the proper
terminal arrangements was ensured
through the agency of the st. Paul and
Northern Pacific conpany already men
toned.
The general result has been that no
great railroad line In this country Ia 81
literally provided with ample terminal
facilities for present and future re-
quirements as yoBr company.
DISAPPOINTED EXPECTATIONS.
now come 10 what / termed "the
disappointments of my administra-
ton" / need hardly to say that, in
using these words, had reference to
the great excess of the cost of the
main line over first calculations, the
financial embarrassments of the CON-
pany, aud the necessity of the creation
of a second mortgage growing out of 1t,
and the consequent delay 10 the fulfil
meut of the hopes of stockholders for
early dividends. As these unsatisfao-
tory results led TO most Of the adverse
criticism upon my management, 1t is
my duty. as well as my right. TO place
before you all the facts bearing upon
them.
In the fall of 1880. Adna Anderson,
then. rs now, engineer in chief, sub
mitted to the president of the company
at the time an estimate of the cost of
completing all the lines the company
was authorized to build under its char