The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1888-09-21
WILLARD on TOP.
He Votes a Majority of Nor
thern Pacific Stock.
THos. p. oAkKs PRESIDENT.
A Harmonious and Satisfactory
Meeting The wondrous Growth
Of Washington Territory and the
sound Cities-Heavy Land Sales
No Fear Of Forfeiture of Earned
Land Grants.

=
panT's stockholders to-day the old beard
Of directors was reelected without any
change whatever, save the choosing os
John c. Baliist 0g Philadeiphia 10 nh the
vacancy caused By the resignation Of III
rector august Belmont. There was no ex-
hibisior Of fi5s. spirit Of opposition 10 the
management which has been so long pre-
siieiea OHt Of 60 .sSs shares represented,
a clear majority OF about 1905 shares was
given for the Official ticket BY Henry VIII
lard. who voted asi. 40 shares in one block.
including the IL, ,sss shares represented by
Frayton ives.
The annual report of President Harris
showed that during the year ending Jane
20. the company earned Si5.sss.ss.9l7. an in
crease Of sS.05s,s7s over the preceding
year. The operating expenses rose 81 :
ss5. being 3. SO .ss4 This left the net
earnings for the year se So. .44s, an increase
Of sa6s.nI5 The income from ether
sources than earnings amounted to s5ss,-
So, masking the years total income $7.I27,-
$50
The roads annual 4 xed charges aggre
gated $3.50, ,2ss5. an increase of sa5s. .eeo for
the year. The iaud sales during the year
amounted 10 81 .sll .sies. CT which $1.el4iIT
vas IN cash, and }2s5. 81 ia preferred
stock, that issue Of stock being received by
The company at par IN payment .. lands
PgEsIpExT HAgEssss REPORT.
President Hasris's annual review OF the
eomPanys affairs was aa interesting deeu-
inent IL NOT only pointed cut the great
progress thai has already been made, bnt
showed how certain were magnificent
results tor the early faJure.
THE ELECTION.
4 meeting Of the board OF directors was
convened immediately after the stock
holders had finished their business. Presi-
dent Harris insisted on his resolution 10
retire from the presidential Office. Charles
[. Colby put Henry Willard in nom
ination for president Mr.. Willard
informed the board thaI he
could not accept the Office, and moved
that ia his stead Thomas Fletcher Oakes.
aos vice president and general manager.
be elected president He eaiogized Mr..
oakes for his energy. competency AID
broad inludeGBese. oakes was Of once
chesea unanimously to the chief executive
post Of The company. The board further
elected James b. Williams. first vice -presi-
dent, c. H. Prescott second viee-prrsiient.
and Samuel wiikeson. secretary.
Az the stockholders meeting resolutions
we're unanimously passed approving Of the
lease of certain Montana branch lines by
the Northern Pacific.
LOOKING TOWARD sEATTLE.
7. F. Oakes. the newly elected president
Of the company, IN his report a general
manager, presented to-day much iuforma-
ton OF interest touching the development
Of Washington territory. To the PosI-IH-
TELLf6gScER representative he said: ''Se-
attic is destined to be recognized speedily
as one of the great cities of the Northwest
Many plans are on foot hy the Northern
Pacific company. and all insure unprece-
dented progress for the busting place"
STATISTICS OF LAND SALES
In The official report. Mr. Oakes shows
that the Northern Pacific land sales were
a per cent 81 afer this year than In the
year preceding and he quotes the increase
In Washington territory ''at least 5000
acres. " During the year ending July /. the
company sold $4,000 acres for 81 l3sl, ,O0o of
which 9o5oo acres were sold in Washing
ton for s93i,S0o This betokens the appre-
eiation that investors and settlers have OF
Asshingion's prospects; for. while the
company was able 10 sell readily over go
60 acres in Washington, the total sales IN
Minnesota were 1880 acres. with 2, 900 in
Dakota. s2.D19 IA Montana, - coo ia Idaho,
and 80 acres In Oregon. In 1857 TIE aver
age price Of land sold by the company was
s. q an acre, and the sane average pre-
vailed Tor Washington This year the gen
eral average i s. g, y ith the Washington
average 80 IS. a material advance ceusid-
eTing haw enormous the sales have been.
TIE EUNT RAILWAY.
says the report further, A very eonsid-
efable tonnage has also been delivered
from the Ines Of the Oregon & Washing
too Territory railway Cknown as the Hunt
system) during the past fall and winter.
aud with their further extension and more
complete organization our revenue from
this souFee VII unqaestionably be largely
augmented.
fNMGRATIos.
An increase In sI.Z79.0so in passenger
earnings Is attributed largely to the large
immigration 10 oregon end Washington
Territory, saj 10 this Is added. "A large
proportion OF ihe immigration which has
been poslrIng into Oregon and Washington
Territory viii undoubtedly remain in that
country and contribute toward ctr future
eagn;nRs."
Touching on mining interests along the
SeFIheTu Paeiae lines, the report says the
products Of Washington territory mines
Sfe Ia: becoming zone of the principal
soagces ef revenue TO the company"
EEpuCroN II RATES.
whaI may cheer local merchants in the
report IS. "Sane reduction ia rates to in
Ierior Washington territory points Is an
tleips,ed, while rates TO tie Pacific coAs;
may be raised. bat Whether 10 sHeh an ex-
tent as 20 force tonnage by water routes.
experience al0ue can determine sud
this budget Of fac;s Is made conspicuous,
gksHIS6roS PEegREss.
Washington territory Shows greater
progress during the yeaT than any other
Essrtluu u The Northwest. II Is st present
a faNagite Geld for immigration, sad y IA
fey Dzny year. 10 c0Hss oeer homes and
bnsiucss opportunities for rev settlers
Ailet geaersss reference 10 Tacoma as
the eozap4Hys Puget sound terminus. tae
report says, "All tho othgg i9wGs on Puget
sound have made satisfactory growth dur