The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1890-12-21
Surplus for the year ..........

After reviewing the earnings by compar-
ison, which show the net increase of the
gross to be 81, 256, $3.50. the presidents re-
port continues:
1.-THE important financial event of the
year was the agreement upon and filing of
the consolidated mortgage of the company
for the total sum of $3.50, 100000. to run for
100 years. This was approved by nearly
unanimous vote of the stockholders on
October II, 1889.
1.-THE mortgage provides means for re.
funding outstanding obligations of the
company, and also for the issuance of about
$50. OOO, 600 of additional bonds from time
to time as may be necessary in the future
for the purchase of branch roads, for new
equipment. for terminals and for general
reports there has been set
forto the gre at necessity for saoh
additions to the property. though up to the
fiscal year just closed no plan has been
ed for fSs.a the of
pany owes to Mr.. Henry Willard. the chair
man of the board. the inception and the
carrying out of this successful effort to put
the company's finances upon strong and
favorable foundation"
year was 8, 54.S miles. The increase in to.
tai mileage in the hands of the operating
department. on June 30, 1890, over the mile
age of the previous year was SO96 miles,
making total at the end of the fiscal year
of J. 774.S miles. The line from the main
road at Logan to Butte via Homestake pass
was completed and turned over to the OPP
Grating department. BY this direct line and
| by the cutoff just mentioned the distance be-
tween st. Paul and Butte has been short.
ened to ], 125 miles, which is the shortest
| rail line between those points by 40 miles.
Valuable advantages will accrue to the
Northern Pacific from the building of this
| road.
A review of the construction work in
progress follows, which has already APP
peared in these columns: The gross earn
ings of the Northern Pacific Express CON-
pany amounted to $930,917. The operating
expenses were $7S5,O26, which amount in
cludes the payment of 1898 .445 to the
Northern Pacific railroad, and $7.76O tc
other lines for transportation charges. The
net profit to the express company from the
years operations were $l39, 12S.
Land Commissioner Lamborn reports:
Total acreage of land sold
| 393, ITO G2 acres. for. S.Si005S 8
Amount Of town lot sales ........... :0saO4 q
Timber sales coal royalties etc.. lus.26l /
Total business of the year -. s2.s,s.2S i
The total sales in Montana during tn
: year were 81. 124 acres for $236. GIL so, Will
, in Washington the total sales wer
aOs.O5s.2s acres for $685.. 1861. The av
erage price in Montana was $2.43 and i
Washington it was $62s. Mr.. Lambor
l further reports:
. Immigration to the Pacific slope ha
: continued large throughout the year, Of
pecially to the Puget Sound region. Taco
ma. Seattle and Spokane Falls have becom
0 large and important cities, and many of tn
smaller towns have more than doubled j
size nsthe last twelve months. There ha
n been steady demand for small tracts q
+ land for immediate occupancy. and a lars
part of the agricultural lands immediatel
7 accessible to the present lines of trans
e portation, west of the Cascade mountain
a has now been sold. Tho new lin,
u of railroad under construction toward
Gray's harbor and Shoalwater Bay will hoy
>, ever, open up an extensive region Of goc
!. farming and timber country as yet vel
Y sparsely settled. and the company will
e able to bring large acreage of these Ian,
y into market 20 soon as these new roads a