Western sentinel. [volume] (Winston [i.e. Winston-Salem], N.C.) 1856-1886, 1884-07-10
AUGUSTA, Me, Nov. 25, 1870.

In regard TO tnc Nortnern racine
transaction the following letter is cit
ed:
AUGUSTA, Me, Nov. 25, 1870.
Ny DEAR Mr.. FISHER. \ year ago and
more | spoke to you about purchasing an
interest in the Northern Pacific Railroad
for yourself and any YOU might choose to
associate with yourself. - The matter passed
by without my being able to control it, and
nothing more was said about it. Since
then the Jay Cooke contract has been per-
fected, the additional legislation has been
obt aimed and 230 miles of the road are we'll
nigh completed and the whole line will be
pushed forward rapidly. BY q strange re-
yolution of circumstances | ana again able
to control an interest and if you desire it
YOU can have it. The whole road is diyid-
ed into twenty-four shares, of which Jay
Cooke & Co. have twelve. The interest
speak of Is one half of one-twenty ty-fourth, or
one-one- hundred and d-ninety of the
entire franchise, being that proportion OF
the eighty-one millions of stock that are be-
ing divided as the road is built, and like
proportion of the Land Company stock that
il form ed to take and dispose of the 1900, :
900 acres of land covered by their grant as
amended by the law of last session. The
amount OF stock which this 1-192 would
have in the end would be about Sf25, 900,
and the number of acres of land it represents
is nearly 275,000. The road is being built
on the 7.30 bonds, $4,000 to the mile
which Jay Cooke takes at 90 Instead oil
mortgaging the land they make a stock COM
pany for its ownership dividing it pro rata
among the holders of the franchise. The
whole thing can be had for S25, 900, which
is less than one-thifd of what some other
sales of small interests have gone at. | dc
not suppose you would care to invest the
whole $50, 900. l thought for a small flyer
eight or ten of you in Boston might take it
50, 800 each. For $500 thus invested
yon would get ultimately S42, 900 stock and
the avails of some 27 900 acres of land. Five
of you at $1,000 each would have splendid
thing of it.
The chance is a very rare one. I can't
| touch it, but l obey my first and best i'm
pulse in offering it to you.
All such chances as this; since Jay Cooke
got the road, have been accompanied with
the obligation to take large amount of the
bonds at ninety and hold them not less than
| three years. | will be IN Boston Tuesday
noon, and will call upon you. OF course il
| you don't want it, let it pass. You will re-
| ceive an immediate issue of stock to con
! siderable amount and certificates of land
stock also. Of course, in oonferring with
! others, keep my name quiet, mentioning il
to no one unless to Mr.. Caldwell. ! writ,
under the presumption that you have re
turned, but have heard nothing
Yours truly, j. q. BLAINE.
This offer was accepted by Fisher
as appears from the following (p. 129)
Received of Warren Fisher, Jr., $25 ,OOt
| in trust, in consideration of which L. am t,
deliver to said Fisher properly authentica
ted certificates of an interest in the Nortf
Pacific Railway Company, eguivelant t,
one-eighth part of one of the twenty-fou
principal shares in which the franchis
stock ofsaid company are divided; certifi
Gates to be in the name of Elisha Atkins.
Witness my hand. JAMES G. BLAINE