National Republican., 1885-10-06

. In srcnsngo Of tlc progress OF the country
through which th" Northern rae ilg railway
pmsts, Vice President Ogkcs IN hls annual c..
port gives these tn GRO 3tinEs.hti. i.tilG The p1D.
ulHti0n OF st. i0ul and Minneapolis has In.
ctenscd sI,;'5 for both cities IN isSJ to 2iO,js7
IN iSs5, MINNEAPOLIS received l2AED cus of
wheat and Slilrgd 53j5aIj barrels Of ilpur ~
lCS9lt 90 feet of lumber during the year. Tie
receipts OF wheat Gt pllulh were lB,GD,gll
bushels, against G@n, ,li6 IN 1884 and i7ILSB
In lss3; The average rate on frolght per ton
per mile slows GRADUAL decline from , l6.lO0
cents IN 1861 to 7S-iOO cents In 1885.
a short time ngo the contractors along tho
south Pennsylvania railroad received word
rom tue American Construction Company
asking what amount Of money they would
take for the work done on the road by them.
They sent in their figures, and ON Saturday
word was received by them that their PROPOSE
Tons had been accepted, AMI thcy were or
dcred to discontinue work on the tunnels Gt
once icstcrdny mgrning oil the hands wcrc
DISCHARGED ana wOrl; was generally suspended.
Ihe kitlatinncy tunnel over iOOl feet in
ors say that they have the assurance that the
road VIII be completed by the Pennsylvania
railroad.
"1ho silver question:" according to dis.
patch from the CITY of Mexico, "is one which
has direct bearing on the net earnings Of
az iorcsR.owncd railways IN this country
lMCNico). IT the United States government,
by its persistent coinage Of inferior silver dol
lars, helps to bring ON further depreciation Of
abroad must accept, with what philosophy
they may, reduction Of the net receipts on the
part of their respective companies. The eighty.
tlye'cent Bland dollar, which Is tho United
states standard dollar, has, IN one way, been
OF use in Mexico, for 1t has given the Mexican
dollar an undispuiod market In Asia Tho
Mexican peso is the standard dollar IN AsiatiC
commerce, and seems likely TO remain 50 for
some time to come"
II Is stated that the New York Ccntrnl.Van-
dcrbit combination secured control of the
North River Construction Company under the
following terms Drcxcl. Morgan Il Co. to pay
SBOC0,OOO in their certificates at par, exchange
able into per cent guaranteed bDnls, for tho
absolute and complete ownership of the com.
Iahy irce fiom debt, to be delivered Oh or he
fore Jan. L. 1886. It Is understood that the
North River Construction Company owes OF
secured debt about 81 100000 aud of unsecured
about Si000000, making the total debt about
s50O0,0OO. II is stated that tho secured debt
has been settled dollar for dollar for cash aud
the unsecured debt at about 80 cents on the
dollar, making the total cash required for the
payment of all debts, S3.00O,O00. II would re-
quire of DrcXel, Morgan & Co.'S certificates at
30 $780, 900 to make this sum, leaving ell, ,6jO,-
600 tor the stock or about 2GlS per cent In
certificates. The company is supposed 10 own
securities amounting In market value to
S5C0,OOO. The amount to be received by the
Stockholders Of the North River Construction
Company depends, of course, upon the DrcNcl,
Morgan IL Co. certificates and the amount oil
the expense that will bo incurred under the
receiver.