The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1891-01-01
NO TOWNSHIP SCHEMES.
4 Railroad Operated by Railroad Me
on Business Principles.

on BUSINESS fFinc1ptess
The policy of the Great Northern rail-
road as it has been announced by its
agents and managers is to conduct
its business on business principles, and
not to involve its management in
townsite and correlative schemes for
making money outside of legitimate
railroad operation. No sentimental feel
ing brought about the selection of Seattle
as the chief western terminus. The Great
Northern found Seattle great city, with
illimitable local resources, with a heavy
wholesale business, with thriving manu-
factories, with an energetic and generous
people, without Independent railroad con-
nection with the East, or, indeed, with any
part of the United States. Many projects
had been made for construction of rail-
roads, and, from the nature of things.
some one or moro of them were certain to
be carried out. 1t was an opportunity not
to be lost. The people would welcome
responsible transeontinental railroad en-
terprise in the most hearty and substan-
tial manner. 1t would afford ample ter
minals. 1t would pledge it an enormous
amount of traffic. 1t would be loyal to it
in every way. The Great Northern did
not hesitate long, if at all; and the interest
of the people of Seattle was welded to its
fortunes by the positive announcement
and irrevocable pledge that the line would
build to this city as rapidly as possible.
The advantages claimed for the Great
Northern over other roads are those of
shorter distance, smaller capitalization,
lower grades less curvation, better ter
nlinals at Eastern points, and its proprie-
tary line of steamers on the lakes. When
completed to Seattle the line to st. Paul
will, it is said, be from 100 to
300 miles less than the Northern
Pacific. The main line is to be
laid with eighty pound rails, such as are
used only on the hnest equipped Eastern
roads. Mr. Hill said, in his characteristic
way, that if II can't carry passengers from
Seattle to st. Paul in three days l will go
out of the business" 1t may be said
further that he expects the
time of passage from New York to Seattle
ultimately to be shortened to four days
over his line Financially, the Great
Northern is one of the soundest and most
responsible roads III the United States.
Its present earning capacity is immense.
Its capitalization, in comparison with
transcontinental roads, is very small. 1t
cages upon which IL must earn and pay
interest No such thing as speculation in
Great Northern stock is known, in the
sense that speculation is carried on in
other transcontinental roads ia the money
centers of the East. During the past sum-
mer il borrowed $4,000. 900 in London for
its western extension at AZ per cent. in
ferest. 1t is said that during the late
financial panic in New York the Great
Northern was lender of several million
dollars, having a large surplus in its
treasury.
Mr.. Hill announces that by the time the
Great Northern is finished to Seattle he
viii have a line of steamships running TO
Japan and China. The trip from New
York to Hong Kong, he says, can then be
made in seventeen days. At any rate such
a project as he announces will be Of i'm
n,epse value TO Seattle and all Washington.
The magnitude of Chinese trade is not
clearly understood even on the Pacific
coast. The trade of China alone IS esti-
mated to be worth over $50, 000, 900 per an
mum. The greater part is now absorbed
by England. The value of the export and
irnport trade of England with the Pacific
islands is S75. 10000 per annum. I'm
ouestionably large part of this vast trade
must be diverted to the United States,
which has the advantage of England in
distance and in the production of certain
stapIe articles, such as lumber, meats,
-four, canned goods, cheap cottons, ma
chinerv. etc. which England cannot pro-
duce so cheapIy, and which China and
TaDan rant