Seattle daily post-intelligencer. [volume] (Seattle, W.T. [Wash.]) 1881-1888, 1885-04-29
SEATTLE t. WEDNESDAY MORNING. APRIL g. 1885,
.. \ . =. ava :. ,.

The folisvisit d special Telegram 10
ths Boston Adisrfissr
NEw 1oRx, April i2.--fhe OREGON
Naviaation Direetors have had an active
oise1ss,oa the past week concerninx
the payment Of the quarterly dividend,
oue May lss- Thefe has been no as-
sumption that IL hss been earned the
January anew storms having been %
heavy and Continuous as 70 interrupt
business almost oompletely. Besides.
the dividend ii hardly ever earned for
tne tnree Enonfhs ending March lst.
always the poe,ress quarter in the wear.
William Eudhsotf, Jr., OF Bystoo. one
OF the largest OF all the stackhoIders.
was opposed 81 the dividend. but Prrsf.
dent Elijah Saith earnestly advocated
its payment OH the groQnd that the six
per cent would be made up during the
year, and that an intermiasion Of diyi-
dends would eii this time hurt the prep-
erfy. and be particularly injurious 10
ths Oregon 1rflnsoontinenkal fof which
he II also presidenfl, whose chief reye-
nue IL from the Oregon Navigation
stock. The rainlt ef the discussion has
been compromise, By which the divi-
dend OF II per cent. has been deferred
to June lss, when IL will probably be
paid. The Oregon Navigation earnings
are said 10 b8 very fair thus far this
month, and ste likely 20 show Q large
increase IN May. President Smith
~ very sanguine Of the future
OF the company, and favors the continn-
ance Of Its independent position. He
declares and many of the directors
agree With him, that IL can earn more
than it can ever get through O lease to
the NsrthefEl Pacific OF Onion Pacific.
Smith and others express their entire
belief that when business has fully re-
vived the Oregon Navigafian will be able
70 earn again an eight per cent divi
dend. The idea entertained by many
outsiders, that the company Is anxious
20 have the Northern Pacifie take a
lease, is wholly erroneous. The Oregon
Navigation is thought by lis stockhold-
ers 10 be passing through its worst
period, and that its fature is full Of
PROMISE.
The Northern Pacific directors are
pushing the Cascade branch with all
their energy, and expect TO finish the
road 20 Tacona, whether they obtain
the Oregon Navigation ieass or not,
within two years, as cost Of $1,000
600 20 xi2,O00N0o. AZ many a. 900 men
arc nov st work on the branch. Cap
italista and railroad men in the Nerth-
west do not see the wisdom Of Building
shs Cascade branch for i've or six years
Yet. They say that Il viii NOT be needed
until the region has more numerous
population and fuller development.
They are Of opinion that the Northern
Pacific ID impslied to she work.
which they think viii cost far
more than the estimate, by fear that,
unless 10 be done, k6e road will lose the
Government lands fsom forfeiture, and
By the interest Of soENe Of the Leading
directors in she Tsooma Land Oom-
psny. The completion Of the line TO
Tacoma will naturally increase the
price Of real estate thesa and ab0ut
there, and it's owners will be much ben-
ehted thereby. They consider Tacoma
In bad financial condition. A number
of its merchants have failod, and q
nRmbsr more are likely TO, az they have
overtraded and overstr&ined their
credit owing TO their exsess of
faith In the town, when IL has
become the terminus OF the
Northern Pacific. They have discounted
It's future, which they have greatly ex-
EQgernted: they have suffered, anal will
suffer more, FROM their excessive expeo-
setioua. Tacoma is small place. and
though u has good position on Puget
SQUAD, II can scarcely compete with
Portland. 1fe miles 20 the south, cSn-
tanning much wealth and population
of 5000. This is the view OF persons
not identified or concerned with the
Northern Pacific, most of whose dirsctons
hold the opposite feeling, confident that
they must reach Tacoma direct ne soan
as practicable for the best good Of the
road. Divers fnanciers In Wall street
believe that the Northern Pacific is rash
In building the Cascade branch at pres
eut, becanae 10 Wants the money which
u II spending there for other and more
important purposes.