Seattle daily post-intelligencer. [volume] (Seattle, W.T. [Wash.]) 1881-1888, 1885-09-18
rHE PosT.IHTEIlIcEnceR PUB. co
'nE SORraEeN PACIFIC MEETING
THE ANNUAL STATEMENT.

.
THE ANNUAL STATEMENT.
ksw YoRK, sept. 1.-The annual
neetiug for the elecsion of Direotofs Of
~ Northern Paotfic Railway for the
snsring year is nov in session. There
: % change in the regular ticket pre-.
safed 10 the stockholders from that Of
sa,ear, and no serious opposition is
suhapsted. An injunction has been
sstsd by the Oregon Transcontinental al
ksssrs. Ives and Morgan from vo ing
ths Oregon Transcontinental trust
sock.
Ats meeting today the annual state
mept OF the Northern Pacific for the
yssr ended June 18th, shows the gross
receipts from freight to be f1,446, 600;
from passengers $3,076, coo; from mail
xud express $7l2.000, making a total Of
tll,2A.OOO The Operating expenses
we're q, 1856 600. leaving the net earn
incs az $5, OBS 900. Adding to this the
interest and dividends on investments.
the balance at general interest account
and incomes from other sources amount
ise to $l93, 200, the total surplus is t5,-
3I 900, eat Of which there vas paid for
rentals 1881 900; to branch roads $3.50,
600; for maintenance of terminal prop.
srty at Portland $27, 900; for interest Of
funded debt account $4.024 600; CON
tsibuted TO the sinking fund $4,000;
nd there Was said on expenses Of the
oesoina celebrations 5000, making Q
ersnd total Of Disbursements Of q. .f39,- :
900, leaving surplus over all fixed
charges and expenses for the year Of
$1,000.
Compared with the preceding year,
there was an increase in earnings from
commercial freight Of f7I 900. and from
mail, express, etc, Of gil ,000, but
there Was decrease in passenger earn
ings Of $l,l2l 600, making net de-
crease in commercial business OF all
kinds Of $3.50, 900, During the past
rear there were no charges made for
transportation OF fuel and other sup
plies used IN operating the road, and
- amount charged for carry ing con
sksction material was only the cost
price of transportation. The report
ssates that the principal cause of the
decrease In passenger earnings was the
subsidenoe of the Ceur dAlene excite
msnt, to which must be added the open
inc of the Union Pacific road to Oregon
by the Oregon Short Line, and the
naker City branch of the Oregon Rail
~ and Navigation Company. ~ veil
= the snow blocks kade on tbs roate las(
winter, and the general depression OF
husiness throughout the country. These
o8uees OF decrease were Offset as to
frsiQht by the steady advance Of popu-
hsion and development OF the country
contiguous TO the lines of the road.
As compared with the preceding year
The earnings decreased 81 1858, 900 and
tbe ooerating expenses $969, 900. The
balance sheet shows no change To the
common stock and decrease tn pre-
fsrred stock by land sales Of <l,l96.OOO.
The commsn and preferred stock nov
amount TO $S7 GIL, GOO. There was an
Increase In first mortgage bonds of
tS,i25, 900. issued on 125 miles Of road.
OF the "a, 143. 200 general second mort
gaQe bonds remaining on hand year
no e3 ,000, COO have been sold. There Is
: Shancs 80 the bonded debt Of the
Peud dOreilIe division, while there is
adscrease Of S27o,O00 in the Missouri
division. The total funded debt Is now
@l.gt, 800. not including dividend GER
hhcates Of ft.6il 900. The company
aid 10 the Northern Paoifio Terminal
Company during the year $Sa,OOO Tor
rent and t27 900 for cost Of maintenance.
Respecting the oom pietion Of she Gas
sads branch, abeut vhtch there n . de-
eided difference OF opinion among the
parties interested in the road, the report
astes that Is miles are new under con-
aruction on the west side of the Gas
oade mountains. and 40 miles on the
east side, the cost Of which will be
a,s40,0o0 10 complete the Cascade
bslncn there will renain 75lS miles, not
in0sdina f5 miles uuder way. Tbe o.
StnAsed oosa Of she 75,T miles is q fol-
lovs: l5k mileA over the tnouutafns.
inoindine tunnels nearly two miles long,
f,tl.00; approaches on each side.
u.Sl 600, making total Of <S,S72.OOO,
% which Ia added for snowsheds, II
needsd. 500 900, making q grand total
d 4 little over 100000. The total
stanssa cost Of shs 40 miles required
echpls1s the gxpi d 95Q2.0 .009 aad
- 6Aieunt Of nFuf nafsgaas ibaads
available for the work is t3.5.3,0O0.
having 10 be provided from other
sources ts.s99, 900. The report says it
VII require Between two and two and q
aaif PEARS TO construct the tunnel with
secaomy, The total expended for con.
auetioa and equlPment during the past
y1sWse 8. 562, ,u01 a. VI
~ IMPORT recommends the rstifiea-l
u0 OF the lcase of the Oregon Railway
dNssigstion Company. and states that
shsn The subject shall be acted spon
~ All the companies interested. IL vill
y submitted to the stockholders OF
Northern paai6o for THAR aotioQ,
ihe number OF acres sold daring the
yeaf vas $50, for $l,6s2, 80. The
amount OF land patented and patentaole
VII nndisposed of 10 over S9,suoVo
eefeA Of which $4,000 acres are east
g ths Missouri River. the proceeds Of
saiea are applicable TO the retirement
" pesfsrred stock.
far BOARD RE KrHCrKD.
NV fosx, Sept. lT.--At the meeting of
ne Northern Pacific stock tt was
ssssd that two Jndees had refused an
sisncsion restraining the voting OF
s9up shares by Bea y ton Ives and J. =.
.oeean- A rrseintioa vns adopted 70
yusesine the Directors MA 10 incur apy
.ooeotsdness whatever FOG the conorue-
~ q nev roads. The old Boaeo or
oFeesor VAS then re elected.
10 STUDY LAw.-John h. Denny, son
% psssd T. Denny. will today leave for
eAasn. Oregon, there 10 enter the Law
espartment Of the University. Mr..
oay has been reading law In this
" for several months. and is led
every inclination 20 that profession.