Lewiston teller. [volume] (Lewiston, North Idaho) 1878-1900, 1886-08-05
NOT EXACTLY LEASED THIS
TIME But SOLD TO THE
UNION PACIFIC

A rumor that the Union Pacific had
secured control of the Oregon Railway
h Navigation company's property oh
tanned general creadence in this city yes
terday. Perhaps the story is true, but
those who ought to know the most about
it, appear to know the least. However.
there IS something in the wind. Several
pos,ponenents Of the annual election of
directors for the o. II. & N, indicates
this. Possibly some of the Union
Poetic people are trying to get into the
board. 1t was stated yesterday positive
~ that the Oregon & Transcontinental
comcany had sold their o. r. h N. stock
to the Union Pacific If this be true,
it gives the control Of the o. r. & N.
to the Union Pacific, as the o. Il T.
own more than half the entire capital
stock Of $24, 100000. President Elijah
Smith has been in San Francisco for ten
days and was there at last &C.
counts. It is not likely transaction
Of such magnitude could be consummatcd
outside Of New York or Boston. Mr..
Prescott, manager Of the O. r. & N,
knows nothing Of any sale or lease, and
8. r. Galloway, general manager Of the
Union Pacific, whS was here this week,
is also ignorant on this subject. No
doubt it would be to the interest Of the
Union Pacific to control the 0. r. e. N.
The property is reasonably certain Of
earning five or six per cent, and to lease
it would be better than to build across
the Cascade mountains to the water.
Bot the O. l. T. are not likely to dis.
pose Of the best holding they have. For
their remaining assets it would not be
worth while to continue the company.
The o. & T. might consent to lease,
but under recent decisions by the United
States supreme court it is a question
whether the lease Of a railroad is legal
A New York special to the San
Francisco Call published in the Oregon
ian's telegraphic columns yesterday, that
Elijah Smith was trying to get control
Of the Northern Pacific. points possibly
the next move on the railway chess
board, but only those ION the inside" can
tell, aud they won't.-Oregonian July
29th.
Its remarkable Low the Oreconian
struggles to escape the inevitable fate
that awaits the city Of Portland, 10 the
future, IN respect to its remaining, the
great commercial metropolis Of the north
wet. Already the "hand writing is on
the WALL that will FIX the doom Of that
now fourishing city in this respect in
the future. Contrasted with numerous
other points north Of southern boundary
Of Oregon, aud the British possessions for
locating and building upa large city,
which can command the commercial bust
nees Of the north west coast; il don't even
occupy tenth rate position, and the
original projectors Of the town never
contemplated that it would when the
country north Of California should be-
sns dsnsely settled. 1t was the nearest
pace on tide water connecting the settle
msnts in the Willamette Valley, naviga.
tion for small vessels to the sea, aud
which for the convenience Of the people
10 the settled district Of Oregon, was am
pie. But no sane man who knows the
character Of tho coast aud what the de
n lnds Of business would become when
the country became generally settled.
even contemplated that it would hold the
supremacy long after capital AID popula,
1ion had been well distributed through
eat Oregon and Washington. But
owing TO the great financial prosperity
ofths country south in the Willamette
Valley and east Of the Cascades, PORT
land made rapid strides in business pros
perity, aad many men who came there
poor and commenced business, soon be
sams very rich and purse proud when
there Wa no rival to compete with them,
and because Willard and his alleis chose
70 make the attempt to pervert the fran.
shiss Of tho Northern Pacific aud make j
Portland the terminus Of this great sys- |
t,m Of railroad. and the great radiatins
point for al business 10 the North West, /,
he people and the press Of Portland 5
veason - though they regarded all else
= both Oregon aud Washington as sub. !
ssrvieat and necessarily tributary to a
Then. The city Of Boston in its proud i
- and grand conceptions OF its greatness
y being the hub Of the universe, never i,
were more proud of their position than &
ave been the people aud press Of the |
ity Of Portland. The sun Of prosperity i
Or the whole North West, must both I
10 and Get 10 their city, but as time and n
have been given to men Of Il
apital aud intelligence. aud business n
bservatiou TO look through the north +
ct, they wonder it came about so s
hat SO much capital and strength had n
in Portland 10 preference
J al other points which from their