Seattle daily post-intelligencer. [volume] (Seattle, W.T. [Wash.]) 1881-1888, 1884-09-14
INTERESTING RAILROAD ssws


n,ADELPHfA. Sept. lt.-fhe Tiu>s
new iork special says. The efforts =,
ane directors TO release tn. Oregon 4
Iranscontinental of its&lI 600 600 deb
oy tue issue of trust Ion a based on Il, !,
seeufities, are not likely TO succ~sl
WINE railroad property is in no hatts,
iavor than at present. A we'll knnw,
oanker says the bonds could not NOW =.
soic at more thaR fifty cents on an.
roe dlscussion between the di-ector,
OF the Northern Pacific and the Orsoo,
railway d Navigation, concarnIno In.
Tease OF tha latter to the former ia s,iI
going on; batthere are so manx n ,;nt,
70 settle and so many disa0rsemen,,
tnat IL - impossible to tell when ths,
viii come TO terms.
A prominent Oregonian nox hsrs .,v,
All talk OF the lease II the Orao,,, 4
Callfornis road 10 the Central PsclS,
Is premature. Negotiations Co tbis so1
are still pending, and will probably b,
contaminated. German capitalists xh,
Quit AOo miles OF the former road hay,
No longer much interest ia II, for vber
tue old boLds we're funded. some tbre,
years ago, English 0 clpitalists took boIf
or II, and have retained their hold h
tnis DAY. CJnuection by rail will uroh
aoiy not be completed for fiftesn o.,
twenty months yet.
Ihe Press. referring to the raid Tn.s
DAY on Northern Pacific preferred and
oregon Railway d Navigation, saws: "A
street story was that there would Ia de-
ciared a loss in the earnings for the firs,
nscti week In September. even thouoh
only x247 600 was earned last wear: bu,
this was not the real trouble. II il very
iikely the Northern Pacific Company i,
slightly embarrassed about the lease OF
the Oregon Navigation. The latter road
IL owned by Bostonians, desirous OF
making good bargain. The Northern
racine people have been, and are still
averse to taFiHg up new burdens. Some
OF the Boston people are understood "a
favor lease 90 the Union Pacific, bu,
this Is regarded as little bluff, 70 drive
better bargain With the Northern Pa
cific. The Northern P.eific directors
ret Thursday. but at the meeting of the
sub oommittee appointed on the
Oregon Railway d Navigation lease no
hopes were held that il would bs con.
summated. It ia certain that the
Northern Pacific will not be driven into
An onerous undertaking, as far as the
acquisition of the Oregon Railway a
Navigation is concerned. Meantime the
Union Pacific will not be able to lease
the line until the injunction suit OF
Spencer, Ervine ct al, of this city, ID
dissolved
ANNUAL BFPoRr OF THE NORTHERN PA
CIFIc.
New YORK, Sept. 1.-THE annual re.
port Of the Northern Pacific is nearly
ready for publication. Ii states tha,
the business of the road has fully me,
the expectations of the most sanRuins
friends Of the road that the net earn.
inGs are fully up to the estimates, show.
ing sarplus of upward of 1900, ,tO(
after paying all charges. This money
it is said, really belongs 20 the preferred
6tockholder d, who are EMIT ed TO all
earnings after interest and charges are
paid, but 1t was thought wise by the
board to keep the mon IN hand
Land 8, lies reported for the year amount
to $2, 100000, nearly one-t alf OF which
is applicable to the retirement II pre-
ferred stock. Work on the Cascade
division is progressing rapidly. At the
end of this year 1t is expected that but
rs miles OF road will remain to be built
to finish the road to Pnoet Sound.
From other sources II IL stated that
the Northern Pacific people estimate
the value of the Oregon Rail way d. Nav
igation property al about 81, 900, ,oO
while the Bostonians, who own the Ore.
gon company, claim that il is worth lit
tie less than 10000 900. IL ia rumored
that the Oregon d Trauscontinenta
Company will ask for representation In
the board of directors Of the Northern
Pacific at the annual election.
rHE LEAsx NOT MADE.
Ii In stated ON good authority that the
| directors of she Northern Pacific Rail
| road. at their last meeting, held in New
York ON the 9th instant, passed reso.
lotion recommending to the stockhold
ers of the company not to enter into
contract With the Oregon Railway
Navigation Company for lease of tn,
latter's property. The annual meetins
of stockholders will be- held on the 1871
instant, and this meeting of director,
was for the special purpose of decidiuG
on the question Of a lease; so the actor
is regarded as final, for il is not at al
likely the stockholders will do what tn,
directors recommend they should mo-
do. What brought about this chang,
OF feeling IL net known. Two monthi
ago, when President Harris. of the
Northern Paosic. was here, he said tha
hts company Was vii ing to lesse on thu
terms demanded by the Oregon X all
way 4 Navigation. it Is surmised ths
the financial condition of the Northern
Pacific is not such that IL can at thi.
time take upon itself the burden of th,
lease. se.-Orsgonian.
roo MANY PACIFIC RAILROADS.
10 has been reported that the 50. Loui
d san Francisco. the Atchison, Tspekt
q Santa fe aud the Atlantic a Pacific
| having bought the 2t2 miles of the Mo
have branch of the southern Pacifi,
aud got track rights over ;sS2 miles NOR,
TO San Francisco, count on earning $40,
| 100000 from the through traffic. Las
year the Central Pacific, which had tn,
whole af the transcontinental traffic ex
| oepl the Oregon aud Washington busi
ness for three months, earned g. .302, on
from through traffic. Its haul was from
$40 to 1886 miles. The hsul over the
new line will be from 2il5 TO 2i5o miles
extending TO Kansas City and 81. Louis
| but II any Que supposes thai the Cen
i thNi R@th1 - k3i9k w XIV nay ~
part of the California traffic, which q
| holds in the holiew Of its hand. as Il
were, we think he will tind himself mis-
,ken. II has two roads 10 support, and
will want 10 give some traffic TO tn
| Union Pacific aud the Chicago, Burling
ton h Quincy (not 20 speak Of the con
nest,ons OF its southern Pacific line
which has heretofore carried abou
three fifths of the freight). because thel
caa give much 90 il. The Atlantic 4
Pacific, which has about one-fourth o
the mileage in the line between 5,
Louis aud San Franciscs. is said h
count on getting prof. enough out O
| the through traits 10 paw the interes
on the first mortgage bonds, amounting
to $Ts7 $50. fhis will require net earn
| ines of the whole line amsunting q
| $2,Sl0,0O0. Half that would probably
| come nearer Co the result of the firs
years working. There are now 10
| mauy lines 20 the Pacific TO make !
possible for amy except shuse which col
iect the traiiic on the coast by sysseu
OF railroads, as the Central Pacific an
the Oregon Railway and Navigation
1 Company do. 10 eet support out OF th,
through traffis alone. .--.Nets. York Raaa
road Gdssffs.
REDUCKD KARSISos.