Seattle daily post-intelligencer. [volume] (Seattle, W.T. [Wash.]) 1881-1888, 1885-08-21
rHe ePosTdSTElllcEkcER PUB. co,



Wnehs and Frederick Billings over the
Iesss Of the Oregon Railway aud Navi-
sstion lines are said to be settled. and
thst. In consequence, there will be prac-
tiesIIy 10 opposition TO the lease At the
ssptsmbsr meeting Of stockholders. In
this esnnestlon the following speeial
kseran 70 tib,s Pioneer Prees viii be Of
intsrest:
pnrrADErI,HtA, Aug. A.-Thia CORES
pondSrce between President RJbert
Harris, Of the Nsrthern Pacific, and
Charles B. wriRhs was broaght about
IN sbs fact thsf his. W right ssrs q en-
sziaf % the sldskholAsrs askina for
proxies, and. as q matter of usual pre-
csution, inserted the name Of President
Harris, a. cell a. his own, in the proxy.
As President Harris vas In the West he
was mot oonsuited. and on his return
soule Of his frispis thoeeh ht M. WEighs's
scsAon had conimitted nim % 4 line Of
ae<Asn ID tbe Hi&ttef Of the lease % the
Oregon Railway and Navigation. Mr..
Wright thereupen volunteered 10 for
nish Mr.. Harria's letter to the stock
holders he had communicated with.
President Harris says in his lettsr TO
Mr.. Wright.
Your circular letter of July 3. which
am advised has been sent 10 some of
the stockholders during my absence on
the Pacific coast, inviting proxies in the
name Of yourself and myself. or eithtF
Of us, 10 vote at the annual meeting OF
the stockholders In September, and i'm.
plying on yoor part opposition 10 the
lease Of the Oregon Railway and Nsvi
ssticn and esber property on the terms
proposed. will probably be ooustrasd by
the stockholders ~ showing that similsr
views are entertained by me. OF coarse
Il would not be proper for me to permit
the stockholders TO be In doubt ns 30 my
views IN regard 10 thia most anpartant
s1tject. y has hgssn nader cosssiderar.
1lon ID enc form of another Tor more
than year, and has had my most oire-
fuI attention. I am In favor of the
issse Of the Dragon Railway and Navi,
Ra<ion prdpeft,f on ths terms pr0posad
~ 1hs Nor1hpfh Psciiie md ths unicn
P4oiiic ! fntiy. and have twice voted for
u In she Board, believe that she lease
h for the best interests OF the Northern
Pacific, and REso that 10 viii conserve
the interests of all three parties TO IL by
avoiding oondists aud unnecessary waste
Of mensy, and enabling the lsssee con-
paniss 10 serve the public In tha bsst
manner at minimnm cost, and shall
reoomsnsnd the stockholders 10 ratify
the Astsnn of The Board az its meeting
yai5 %. autboKizing the execution Of the
lease. viii yon please ssud . capy of.
this letter 90 all sfookholdsfs 30 WHOM
you have sent your circular latter 0f
Joly 8, In order TO correct any imprss.
sion sf my views contrary TO those above
sxpressedf" NI
zEAa Nm. snioIsr's EkrL1.
J 49, fiaht srits8 in reply:
II beQAto say In justice TO Mr.. Harris
thsi Al the time prepared my circular
ss July i3 hs vason tha. Pscific. Coast,
and did ncf rogilrn snntu after Jnly ~,
hencs did ndl eoniFait with MN sil the
subject be refers 10, nor did I intsnd to
commit him IN any way on the lease OF
the Oregon Railway and Navigation.
There has never been any difference on
this question, except as to the amount
Of rental the Northern Pacific should
pay. II u all Of eighteen months since
negotiations between the two companies
sNN38s NJ aNne - AoHt09hS0 Us v ~
esnt ua the stock Of The Oregon Railway
nd Navigatipa was "a texiainhd, Delay
><oraht the aRtlses doWh % I or oent.
I'd later 10 9 pif cent. aud as meet
ing on July 23the Northern Pacific pro
posed 10 start with per cent. In view
Of the iow rAsea Of interest thre uRhont,
money cesssrs, md she eompeusiop ~
541e d trafsp't tftaiion, bad hslpea 10
- &4 RuafAhtesg under the ltase
med q ~ per cent. if1stead os 5 or 6
per cent. and also q certain guarantee
% The Northern Pacific that the hxed
charges on the bonds and debsnturts Of
Ne Oregon Railway and Navigation,
nps drawing .. and per cent. would
% reduced 10 per cent. basis as the
sAme may mature. With thess amend
nenls the propositien adopted by q
majority OF she board as its last naeetinQ
veuld doubtless m AXE the OfeQon Rail-
way and Navigation seif-sappotting.
therefore With the rate of res.taf 10.
q7esa 70 . bAsia ef 4 and 5 usr csnt. and
~ bsnds and 6ebentufes of ne Ore
80 Railway and Navigation cot dovn
e psf eent per annum, 20 Suggested,
and With the power OF the Oregon Rail.
su end NavAsatioa 10 make hgal
aese and create q new mortgage a.
mret. shall be ready 10 vote for leaae
snd advise Northern Pacific ssockhold-
~ - . body 20 do 10"
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