The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1892-12-03
EXAMINING THE ROAD
Northern Pacific Stockholders
Committee Here.
INTERVIEW WITH A MEMBER.
Jay Cooke, Jr., on Railroads, Silver
and the Eiection-Great Northern
Track Can Go Right On.

The committee OF stockholders Investigating
the condition of the Northern Pacific road,
which arrived in the city about midnight on
Thursday, went direct up the northern branch
3 of the Lake shore road and spent yesterday in
examining that line On returning from the
North. the committee went out on the Snoqual-
mic branch as far 30 SaIIel Prairie. It returned
to the city about O'Clock, and lefton a special
train for Tacoma about O'clock
The committee is composed of Jay Cooke. r.,
banker, OF Philadelphia; Brayton Ives, presi-
dent OF the Western National bank, OF New
York, and w. T. Rodgers, of New York. law
yer, and formerly chairman of the New York
state railroad commission. These gentlemen arc
accompanied by ". S. Mellen, general manager.
and j. W. Kendrick, chief engineer OF the road,
and were Joined here by q. w. Dickinson, as
estant general superintendent, and Newman
Kline, Superintendent of the Lake Shore road.
The party travels On a special train, and is go
ing over all tho lines OF the system. Alter
spending last night at Tacoma, they go to Port
land today, making side trips over the Gray's
Harbor and South Bend branches on the way.
Mr.. Cooke was interviewed by a PusT-INTRL-
xIGEScEg reporter, but declined to say any
thing about the examination OF the road, as his
duty was to reserve his opinion for the stock
holders. He said:
"The committee was appointed to examine
into the financial and physica. condition OF the
property and that is what we are doing. We
have been over every mile OF line east of this
place by daylight, except some portions, which
We win go over on our way back
When asked his opinion about public affairs.
Mr.. Cooke was no. SO reserved, and said:
81 am firm believer in bi-metallism, but it
would be folly for the United States to attempt
to adopt bi-inetallic standard, when virtually
all the other aations especially the strong ones,
are mono-metallic. The effect of bi-netaiism
would be to drive gold from the country and
we would finally land on a silver basis. India
is virtually mono-m etallic country. There
silver is the currency and il acts in a
disastrous way this country. II is
not the tariff which affects the price OF
tic farmers products IL India, but the low
price OF silver. of course, reduces the price
which it Is necessary for the English importer
- pay for wheat. While they may pay the Ia
boring in India the same price before. as
tie cost of production is still paid il the same
amount OF silver, yet, owing To the fact that the
value of silver has been reduced to almost the
lowest point ever known, it require, much less
gold value to pay for the wheat. Therefore, q
bushei of wheat costs the English importer that
much less money, and consequently
he is not willing to pay the American wheat
producer a price for wheat equal to that it
formerly brought when silver brought higher
rate. 1t looks as though the conference at Brus-
cells would at least bring about better knowl-
edge regarding the silver question, although it
Ia too early to form an opinion as to what the re-
suit will be.
"The general railroad business will be salts.
factory next year, because there will be a great
deal OF business in connection with the Coum.
bian exposition which will make up any de-
6ciency there might be in general business"
Mr. Cooke does not think that the result of
the election has tended TO improve the condition
of business, for, he said:
II think Mr. Cleveands announced position
as regards trusts cannot help having some
weight in the market for industrial securities
and you cannot affect one set of securities in
the market without affecting all to some ex-
tent"
When asked his opinion of the late Jay Gould,
he said:
SWELL. Mr.. Gould was a very rich man, but
do mot care to say anything about him.
Mr Melen said OF the condition of the rail-
road business:
Business is moving smoothly: there are
some signs of an increase in the grain move
menta large amount of the crop being still back
ia the country. No movement has yet been
made to reorganize the Transcontinental Asso.
citation or new association in its place; do
not know what the outlook is, it is simply
question of time"