St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-05-25
NORTHERN PACIFIC.
What is Being Done and What Will
Probably be Done.

what is Being Done and what Will
Probably be Done.
Since the return of Vice President Cakes,
of the Northern Pacific road, from New
York yesterday it is not impossible that the
company has given up hope for time at
least of coming to any agreement with the
Oregon Navigation people in regard to the
leasing of that company's property to the
Northern Pacific. The condition of the
much-talked-of lease has not changed a
whit during the week. The difference be-
tween the companies is still in reference to
the1duration OF the 5 per cent. guarantee,
the Oregon Navigation insisting on 6 per
cent after one year, and the Northern Pa
citic and Union Pacific wishing to defer
that rate until three years have elapsed.
Jay Gould, Sidney Dillon and other Union
Pacific magnates are willing to agree to
per cent. after two years, but Robert
Harris, Frederick Billings and several other
Northern Pacific directors are understood
to adhere to the three years proviso. 1t is
not improbable that two years at 5 per
cent. may be accepted as compromise,
but the Oregon Navigation officials assert
dent Harris of the Northern Pacific will
about the first of June, and many of
THE POINTS IN DISPUTE,
will be settled, that is if Mr.. Harris is
favorably impressed with the condition of
the line If the matter was left entirely
in the hands of the lawyers the lease
would be made at an early date,
and there is no reason to believe
that it will not be carried out.
Lawyers of the Northern and Union Pacific
roads say there will be very little trouble
in legally executing the lease and surmount-
ing any obstacles in the way of it's eXecu-
ton, the agreement of terms being the main
thing. The lease can be ratified by two
thirds Of the stockholders, and this prOpO-
sltion is said to be represented by the direc-
tors and the proxies they control.
The signing of any contract by the North
ern Pacific with the Oregon Navigation has
been deferred to some extent by the large
decrease in earnings of the former company
and the general depression in financial
circles. Travel has been very light overthe
Northern Pacific, but it is now in
creasing and there will most
likely, as Mr. Cakes expects,
penses at the end of the fiscal year. The
ldSt tlIItc WCCkS SlllpuiCllGo VI C@O1iC llnfC
been heavy, and the movement of grain and
general merchandise over the line is mp to
the average of the year. The company has
been operating the road as conservatively
as possible and the construction force on
THE CASCADE DIVISION
has been cut down nearly half. This di-
vision was being rapidly pushed to open
new territory to the road. 1t extends from
Ainsworth twelve miles above Wallula
Junction, directly across the Colorado
mountains to Tacoma. From Ainsworth
this division is already in operation west
ward as far as North Yakima, distance of
sixty miles, and men are at work building
the road up into the mountains.
From Tacoma eastward this division is in
operation for distance of 25 miles to South
Prairie, and 25 miles more east OF South
Prairie are nearly ready for the iron. The
entire distance from Tacoma to AinswOrth
via the Cascade division is 252 miles. Of
this SIS miles are in operation and 25 miles
more nearly completed, leaving 142 miles
vet to be built. Upon these 142 miles
force of men is at work at both ends. This
division will not be completed for about two
wears vet, and the tunnel through the Cas-
cade mountains the contract for which will
be let in day or two, will not be completed
for perhaps three years. In the meantime
some continuance might be brought into
reuuisition to cross over the mountains.
The report that the Northern Pacific would
extend its line II miles in one place and 6
in another and put line of boats on the
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