The new North-west. [volume] (Deer Lodge, Mont.) 1869-1897, 1885-09-25
THE NORTHERN PACIFIC,
The Old Directors Re- Eiected-The Annual
Report.

NEW YORK, Sept. 1.-THE stockholders
of the Northern Pacific Railroad held their
annual meeting to-day. 1t was stated that
two Judges had refused the injunction re-
straining the voting Of 10000 shares by
Brayton Ives and J. P. Morgan. j. Pierre.
pont Morgan offered the following resolu
ton, which was unanimously adopted by the
stockholders:
Res0ired, That the Board of Directors
now to be elected are requested not TO incur
q floating debt for the construction of o new
road or roads, and that the same shall from
time 10 time be completed solely from the
available assets Of the company.
On bailoting for the new Board of Direc-
tors considerable unimportant scratching
was done, but only on unimportant names.
The result Of the balloting will not be Off.
! cially known till to morrow, but there Is no
doubt Of the success of the regular ticket.
Charles B. Wright voted $4,000 shares of
| stock.
The annual statement of the Northern
Pacific for the year ended June 80, 1885,
shows the gross receipts from freights to be
81, 900; passengers, $3,O76,O 900; mail and
express, etc., S7l2,000, making q total of
$11 ,234,OO0. The operating expenses were
81, 100, 900, leaving the net earnings at S.
03S,0O0 Adding TO this the interest and
dividends on investment, balance on the
general interest account and incomes from
other sources, amounting to 10000, the
total surplus is 1921 600; out of which
there was paid for rentals $5s4, 900; guaran-
tees to branch roads, $3.50, 900 (; maintenance
Of terminal property at Portland, ST 600 /;
interest on funded debt account, 81, 124, 900 !;
contributions to the sinking fund, $4,000;
paid for expenses Of opening celebrations,
$4,000, making q grand total of disburse.
ments Of $5,l39, 900, leaving surplus over
all fixed charges and expenses for the year of
$4,000. Compared with the preceding year
there was an increase In the earnings from
commercial freight Of ST. 900, and from mail
and express, etc., Of s21l 600; but there was
decrease In passenger earnings Of $1,12l,-
600, making . net decrease in commercial
business of all kinds of $3.50 900. The re-
port states that the principal cause Of the
decrease In passenger earnings was the sub
sidence of the Ceur d'Alene mining excite
ment, TO which must also be added the open
ing Of the Union Pacific road to Oregon by
the Oregon Short Line and the Baker City
branch Of the Oregon Railway & Navigation
Company, - we'll - the snow blockade
throughout Oregon last winter and the gen.
erai depression of business throughout the
country. These causes of the decrease were
Offset Is to freight by the steady advance Of
population and developments contiguous to
the line Of the road. As compared with the
previous year, the earnings have decreased
si,S69, 900 and the operating expenses $780,
600. @
The report recommends the ratification Of
the lease Of the Oregon Railway & Naviga-
ton Company, and states that when the sub
jet shall be acted upon by all the Compa-
mics interested, 1t will DO submitted TO the
stockholders Of the Northern Pacific for
their action. The number Of acres Of land
sold during the past year was 344.557 for
Sizes, $50. The amount Of land patented
and patentable still undisposed Of 10 over
over 37,T00,00o acres, Of which 3,o00,0O0
acres are east of the Missouri river, and the
proceeds are applicable 70 the retirement OF
preferred stock.