, 1886-09-23
N. P. Meeting.

New YoRE, Sept. 1G.-A special
from Philadelphia says; The North
ern Pacific Railroad Company sup
plies the press with the following
synopsis of its annual report, which
will be read at today's meeting of the
board of directors. The report COW
ers the year ending June 80:
Total earnings, including
local and branch lines 81, ,730, ,527 90
Expenses and taxes. .... 6,l56, go. "a.
Leaving net earnings. S 5,574, ,263.46
There YVES a surplus over all fixed
charges and expenses for the year OF
S11,119,975. Compared with last
years earnings from the freight tar
if it increased S1,635.401, passenger
earnings fell off S17S,663 and miscel-
laneous business, S6S,3O6. The earn
ings from local freight increased
81 ,497, ,797 and through freight de-
creased S653, ,123. The net earnings
of the branches were $20S, ,4q6, an in
crease of S57,725 over last years
amount.
THE FINANCES.
OF the deferred payments on bonds
there is S3,676,204 bearing per cent.
interest. The cash on hand and
other cash items, including first and
second mortgage bonds, amount to
SS,059, ,9S1; the interest on the funded
debt, accrued to June 80 and the
bills payable, amount TO 1889, ,407.
Referring to construction the report
Ica Ehn fy1nnnl fl,a fNoeoo1,
ion will be finished by June, 1888,
but the road will be completed to the
mountains and connected by means
of a switchback next spring. The
total cost of the road to be completed
(75s milesl will be S3,500,000
A number of branch roads are in
course of construction.
The total length of the road owned
and controlled by the company is
2S0S miles
The amount of land sold during
the year was 36O,925 acres for 1876,
S44. The sales of town lots and of
timber land made the total receipts
} of the land department $1,44S, ,14S.
The amount of land earned during
the year was 1,664,O00 acres. The
total acres earned to June 80, was
4,S64, 900, and the total sales $685.
! 123 acres.
The report reviews at length the
attempt in congress to forfeit the
land grant and does not think it will
be successful, and if so, that such
forfeiture would be declared illegal
and void by the courts.
THE BOARD OF DIRECTORS.
President Harris formally opened
the stockholders meeting of the N
2. railroad in this city at noon today
The ticket for the directors for 1886
ia August Belmont, Frederick Bill
lings, John w. Broclman, John G.
Bullitt, Benjamin F. Cheney, James
G. Foye, john II. Ham, Robert Har-
ris. Brayton Ives, John Stowe Liv-
ingston, Thomas +. Oakes, Lewis
Stackpole, Charles b. Wright. The
new names on the list are John
4 Brockman, Brayton Ives and James
G. Foye, who took the places of Ros
, we'll G. Rabton and n. p Hollewell
!, Brayton Ives votes on 25, 900 shares
and John w. Brockman on over 20,
600 shares. The election resulted il
a complete victory for the Harris
, ticket.
The total number of votes cast was
973, ,536 out of the capital stock oi
97O,5S3 shares. Elijah Smith, presl-
, dent of the Oregon Transcontinental
voted 18S, ,239 shares for the old ticket
3 with the exception of John c. Bul
{ lit. Charles B. Wright of Philadel-
phia, voted on over 10000 shares.
. President Harris then read the an
/ nual report, synopsis of which has
/ already besn sent in these dispatches
OFFICERS ELECTED.
At the board of directors meeting
later the following officers were
elected: President, Robert Harris
: vice e-president, I. F. Oakes; treasurer
4: l.. Belknap; secretary, Samuel
Wilkeson.
The new directors Brayton, James
c. Foye and John w. Brockman be-
long to this city, but represent the
Philadelphia interest as well.