Seattle daily post-intelligencer. [volume] (Seattle, W.T. [Wash.]) 1881-1888, 1884-09-18
n. p. AND o. N. d \. AFFaIRs

/ Ass ". u. d y. AFFAIRS.
NEw YoRK, Sept. Io.-Ths ifprn;n.,..
vi Ine Northern Pacific annual meeting
nsea new interest 20 its affairs. Among
VIC iuInofs circulated early today was
one that ths preferred stock was sole
uoNn Oh tue expectation of A dec o,ded
loss IN earnings IN the first week in Sep
tenoer, although only x2l7OO1 uas
earned in that week of fs33. Ano.hs,
was that holders of Oregon Navigator
insisted on a guarantee dividend 30 :
per cent. a. a condition of LEASING thai,
ro,d to the Northern Pacific. Farther
u was said that the Union Pacifc vas
trying to secure the Oregon Navigation.
oaI IFS Esosefn- -nts in that direction
were obstrnctsd by toe Injunction iD III !.
irwin case. Prsyidsnt Harris In aoo,ed
as saying sday that progress was made
at meeting of Northern Pacific direc
tors yesterday IN the matter of the Ore
Ron Navigation lease, bat no concla,lou
was arrived at; II took tao parties 10
make contract. The annual report
would be published in abou. a week. Ii
would make very good showing, and
toe stockholders were certainly 70 %
congratulated on the results that had
oeen obtained. The report would bs
clear and easily understood. Vice Presi
dent Oakes, who Is IN the city, said that
Sl,3U,UUO preferred stock was retired
from July i, 1883, to June 30, last. The
apparent decrease of earnings receptly
was explained by the fact that the trans
portation of the company's construction
materialwas incladed in the earninos
last year. Ii had begun, however, and
earnings would improve. Mr.. Oakes
expressed himself as a greater believer
IN the future of the Northern Pacific
than he had ever been before.
One Of the largest stockholders in
Northern Pacific said today that the
company is slightly embarrassed about
the lease of the Oregon Navigation .om
pany. The latter road is owned by Bos
tonians, who are DESTROYS of making A
good bargain. The Northern Pacific
people have been and are still averse 10
| taking up any new business. II il un-
dersteod that a guarantee of 8 per cent.
Is demanded by the Oregon company.
the policy of the Northern Pacific com
pany has been all the time TO make
lease on the equitable division OF the
earnings. For time il would be disad
vantageous to the Northern Pacific road
TO antagonize the Oregon Railway d
Navigation, and its lease to the Union
Pacific might prsve a positive mistor-
tune. Some of the Boston people are
understood to favor lease to the Unien
Pacific, bat this Is regarded "a little
blum To drive a better bargain with the
Northern Pacific. The Northern Pacific
directors meet Thursday. In case the
two companies do not arrive at a con-
olusion it will be- necessary for the
a. a.. 4
division rs soon as possible. This has
already been decided upon BY President
Harris and his board. In the mean
time the Union Pacific will not be able
To lease the Oregon Railway & Naviga-
ton until the injunction at the suit of
Spencer, Erwin 1t al. of this city is dis
solved.
ABOUT TERMINAL TOWNS AND OTHER
COMPANIES.
NEW YORK. Sept. Z, lSSi.-A North
western man. connected with railway
enteI prises in that section for years, and
intimately acquainted with rallr Dad af-
fairs, bat now 10 the city, thinks there
IL little doubt that the Cascade branch
of the Northern Pacific will be built,
though slowly, and not completed be-
fore 1888 or 1889. The main terminus
will unquestiopably be Tacoma. Many
of the men largely interested in the
Northern Pacific are also interested in
the Tacoma Land improvement Com
pany, and will make much money by
the advance in land At that point when
the branch shall have been finishe he
thinks Seattle would be a better termi-
nus, and that 10 will eventually become
the principal terminus on Puget sound.
The Northern Pacific people, he fur
ther says. do not look fIvorably upon
Portland as terminus, on account OF
their interests elsewhere. But he be-
lieves Portland the most advantageous
terminus, all things considered. and the
only place that can be made a railway
center. He says that the bFr at the
mouth of the Columbia ia the chief ob.
stacle 10 Portland as = seaport, but that
il can be SO much reduced as to inter
fere very little with navigati0n,a and that
the Government will be impelied to i'm
prove il. One advantage that Portland
has over any other point in that section
is It's wealth and enterprise. Its citizens
are resolved 90 sustain the position aud
prestige Of their town, and ara not like
iy 20 have any formidable rival.
An Oregonian who has recently been
liforn,a aud Oregon railroads, says she
70 ,mer has been finished TO Ashland and
tue latter 10 Delta, leaving a gap of l27
miles, over which stages rua regularly,
making the time between San Francisco
and Portland 81 heurs.five hours quick
er than the steamers on the Pacific can
make it. He says that nothing has as
vet been determined about the lease Of
ths Oregon and California by the Cen
tral Pacific, but that negotiations are
going on to that end, with every pros
| pect of success. He contradicts the
report that German capitalists are any
longer interested heavily IN the Oregon
aud California. When the old bonds
were funded, the financial control OF
the road passed into the hands of Eng
lishmen, who still retain it. The stock
is listed and regularly dealt in on the
London Exchange. The rail connec-
ten between the roads will not be es-
tablished probably until year from
next spring, ,as work will not be resumed
in all likelihood, for two months yet.
The prospect of disposine of the pro-
posed Oregon and Transcontinental
trust bonds, based on the company's
securities. Is not by any means brilliant.
Several tiuanciers say they could not be
sold at such time as this at any rate
which would justify the sale. The float
ing debt of the company is said 30 be
$il 100000.
The efiicers of the Oregon Navigation
and Northern Pacific continue TO debate
the subject of the virtual consolidation
of their interests; but the points at
issue are so many and complicated that
the date Of their entire agreement can
not be guessed.
sx~or.,w.e ~.cax woan-