Seattle daily post-intelligencer. [volume] (Seattle, W.T. [Wash.]) 1881-1888, 1884-05-17
EASTERN RAILROAD TALK.

The Northern Pacific and Oregon Kali.
way d Navigation, the Coiumbi
Puget sound, Tacoma. seattle, &c.
The following is in full the article in
the Philadelphia Press which recently
created snch a sensation in Oregon and
Washington
NEW YORK. May 7.-Sundry offiser
aud directors of the Northern Pacific
have been discussing here the subject
of building the Cascade branch frotr
Ainsworth to Tacoma, Seattle or some
other point on Puget Sound. and wheth-
er it weald be advisable to embark in
the enterprise at any particular time.
President Harris and several directors
advocate building the branch within
five years, taking the ground that a
great company like theirs must have a
complete road o: its own, instead of de-
pending on the Oregon Navigation at
its western end. They declare that
Portland is not really seaport that il
is ninety miles from the Pacific. and
that the mouth of the Columbia is OBJ
structed by a very bad bar, and that
they need, therefore, another terminus.
Other directors maintain that the ex-
pense of constructing the branch would
be SO enormous as to prevent the pay
ment of dividends for years that the
Oregon Navigation serves their purpose;
that Portland is the natural terminus,
and that the Columbia River bar can be
repoved. They say that the branch
may be ultimately built, but that it will
not be needed during the present gen
Grafton. aud that the present i. not the
time even to consider the question.
H-nry Willard, when he WAS building
the Oregon Navigation and Nor h-rn
Pacific, looked very CAREFUL into this
matter. and after consultation with
some of the ablest engineers, decided
that the present plan and route are the
best for both companies. He united the
interests of both, and since his resiena.
ton their interests have been divided. as
il believed, to their mutual disadv intage.
One of the chief objections TO any point
on Puget Sound an terminus he found
to be tie prevalence OF very heavy foes
six months ont of the twelve, which
would seriously interfere With navipa-
ton. Under existing circumstances il
il doubtful il the Cascade branch will
lie built for great while. The entire
probability is that the Northern Pacific
will lease the Oregon Navigation and
thus secure it, part OF the road as their
own. IL il understood that both the
Northern Pacific and the Union Pacific
have again been Offering within a week
to lease the Navigation and guarapiee
an 3 per cent dividend.
George Morrison, a noted railway ex-
pert, who has just returned from the
Northwest. reports very favoraoly az to
that counfry and the prospects of the
Northern Pacific. He thinks that IL and
Oregon Navigation should have been
one corporation, and that bears Qua Vii
lard's idea and action.
One of the ablest and m st diiigant
directors at the Oregon and Transcon-
tineRtsl says that he earnestly adv scates
the lease of the Oregon Navigation to
the Northern Poetic, aud gusratees for
the next three years per cent dividend,
per cent for the next three years and
per cent afterward. He advocates,
too, the sale of the securities when they
have reached something like their true
value, 30 that the company may have q
good working capital. The present trou-
BILE il lis loss Of credit through bad man
apement, and the immense shrinkaQe in
price of it, stocks. The capital was
so. 0O 600, and the price of the stock
about 80, which reduced IL 10 some $50, :
000.000. This, with the decline in quo
tations OF the securities held, reduced
its capital to some $4,000, 600 or $l5.-
10000. which ought 10 be sufficient ex-
PLANTATION of the frequent question,
s' Where 10 all the money p
The treasurership of the Oregon Im-
provemsnt, resigned by Horsee White,
will be given, no doubt, 90 Prosper
Smith, brother of Elijah Smith, the new
President of that company.
The story published I'm the New York
papers and tel graphed hence. that
Henry Willard had made up bis mind to
Journalism, 10 ridicalousiy alb surd and
mnst have been Q pure invention. he
has no more idea Of IL than of becoming
Q clown in q wandering ircus- He has
Loaf all his property. but. ~ be still TO-
tains his great financial ability, be
would not be very apt 30 take news
pager sitursfon. vhich would not pay
him in lifetime What he could make
In q seek In legitimate money opera
tons. Tie report Of his going abroad
as agent of the Ellison Electric Lighs 10
IL equally untrue He has lever had
any zach intent. aad no proposal Of the
kind has ever been made ~ him. His
object in going 10 Europe ID to visit his
friends In Germany. and TO ind change
and rest after These years Of terrible
work and nervous strain.
The vork on the Oreeoa 4 Caiifornsa
road, OF which Willard is still President,
and which tbs Oregon 4 Tran.oonsi-
mental Vas 90 complste, has been stop
ped - miles north Of the Californ q
STATE lima. Ths Uaion Ps-i6s hss alsu
sopp<d 80 miles on the Other aide, an
there 10 no prospeot Of the xsumpsiou