Seattle daily post-intelligencer. [volume] (Seattle, W.T. [Wash.]) 1881-1888, 1884-03-04
DAILY pos1.INIEllIeENCfR


or LOCAL aSTEREsv.
If tho considerations and embarrass-
meuts under which the several ofRani-
cations, known AZ the Willard compa-
MES, are now laboriug shall eventuate
in compelling the separation OF them
all from Northern P,cific management
and forcing each company TO be con
trolled BY it, 0wn officers aud fort Q dis
tincsive purposes set forth in its articles
of incor eoration. the result vii DC oh-
doubleday Of great benefit to the ie'rf
tory at large. The vicious practice
which has IatterIy become too co'nrnon'
of allowing the organizations OF several
companies. whose interests are constant
Iy liable to conflict, 20 be controlled by
one sst Of officers should BE- discontin-
ned. Il has already received judicial
condemnation in New England STATE
and the doctrine there advanced by the
Court Ia without doubt correct. Con-
tracts between such companies 10 d.
rsctsd are naturally made ~ favor the
company or companies in which tue
controlling power has greatest financial
interest, To the manifest injury and dis
advantage Of minority and poweriess
stockholders in the weaker orRaniza-
lions. We hope TO see tbs several WI
lard companies placed under distinctive
and, If possible, in some degree at least
rival mauagements. At least, u Ia TO oe
hoo.d that each company will soon be
managed for the benefit Of its stock
holders and not AZ mere tributary to
the golfers u . central organisation.
We are mot opposed TO the oonsolida-
ton Of companies organised for idsnti-
cal PURPOSES. Ordinarily such somoin-
atoms result In benefit 70 the stock
holders Of each, and the pubic at large.
But 70 do not believe In the policy Of
combining many branches Of busihcss
under one corporate charter. LOCALLY
applying this idea, We hope 70 see all
the local railroads which now center In
Seattle consolidated into one strong
company, with the avowed purpose and
intention 70 build at some not distant
date a connecting link between Seattle
aud the Columbia river. This was the
purpose for which the Seattle and Wal
IL Walla Railroad Company WAS organ
lied, and it il under the concession to
that corporation that the Columbia and
Puget Sound Railroad Company, its
successor, now lays claim to valuable
franchises on the bay in front of this
city. This company has thus far been
conducted not only to the satisfaction
Of its stockholders, but, as We think, to
the manifest benefit of this city and
King County. IL has asked for no sub
sidy either in lands or money. but has
contsnted itself with paying its taxes
without contest, improving Its property
and extending its business. A very
large portion OF its earnings have been
expended here, and the depot, mill and
shops now projected, involve the ex-
penditure Of a very large additional
sum. What We desire and hope TO see,
is the release Of King County
lands and resources from the
grasp Of the Northern Pacific
Railroad Company. the purchase
and occupation Of our coal and
timber sections by responsible parties,
disconnected Herewith, and the oxten-
sion OF our local railroad to its project
cd terminus east of the Cascade range
II the coal lands Of King county we're
thrown open to purchase there would
within the present year, DO half dozen
powerful companies at work In their de-
vslopmsnt with the absolutely csrtain
effect. within very short time, of 90
enlarging the business Of the railroad
company a. to make It fessible ~ we'll
as profitable to extend it, lines east
ward.
The absolute separation Of the Ore.
gon Impr ,vemcnt Company from any
connection with, or dictasion by, the
Northern Pacific directorate or officers
il another Contamination dsvoutly to BE-
wished" That company has very
great interests in this city and county.
Il owns valuable coal mines, wharves,
water front ri9hts, cto. II has been
largely instrumental in furthering the
prosperity Of this city. Seattle is one
Of the terraini OF its sssamship line to
San Francisco. Ii il the main north
ern terminus. With the growth Of our
city in population and the extension Of
our commerce IL 10 directly aud greatly
interested. II pays large sums in taxes
to the support Of our Rovernmsnt, and
distributes q goodly a,nount of cash
each month In wages here aud else
where In the county. II doesn't ask u
for any subsidy 10 extend il business
nor does IL attempt 10 get hold Of oul
GOAL lands without paying for them.
Both these companies are beaefts "a
Seattle. They have besn hitherto, aad
are now. 40 managed a. h. - Of services
to our CITY and county. This city Ia the
initisl point Of their operations In the
Northwest. In our success these CON-
paniss have direct concern. The major
portion of their surplus earnings has
been, aud for some time at least in the
future will be retained here. They are
not drawing the life blood Of our peo-
pie by extortion, and transferring IL TO
New York city in the form Of Interest
and dividends 10 build pAlstial man
sions or purchase Government bonds.
They are esasntialIy home institatisns,
and AZ such and while their policy re-
mains a. nov. 20 are and shall be a
jealous to commend them a. on the
other hand to resent the demand Of q
foreign corporation fos the major aud
most valuable portion Of lands within
our eountv, while announcing policy
hOstile to our growth and urosr~rssv