The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1892-09-30
C.B.WRIGHT'S OPINION
He Intimates That Willard Has
Lost His Grip.
WILL EXTEND THE HUNT SYSTEM.
The Veteran Financier II skeptical
About HnI,s Promises
Orn Pacifie's Earnings.

spoke at length this afternoon with CORE
spondcnt Of the PosT-IsrELLreEScKR concern
ing the Northern Pacific railroad, the recog-
nized Hunt system of roads, the Great Northern
railroad. the probable extension OF the Hunt
system 10 Puget sound, and the proposed sale OF
the Tacoma Light and Water Companys plant
70 this city. Mr. Wright arrived here yesterday.
rs stated In the Posr-IsTELLi6EscEE today, but
could not with convenience speak OF these mat
fefs until today. His conversation showed him
TO be in . most genial and happy frame OF mind.
6 He 10 looking much better than when he was
here two years ago. He has reached "three
score years and ten," but il as active mentally
rs when president of the Northern Pacific, the
present condition of which pieases him greatly.
Speaking OF the physical condition OF the road,
he said with enthusiasm:
! never saw the road 30 nicely dressed up.
: Why. 1t 10 all fixed up for winter. with bitches
and grades In proper trim.
Regarding the talk OF what the Great North
srn Is going TO do he said with merry laugh:
Well. that's what you might call Jim IilPs
talked Of putting US into the hands OF re-
ceiyer and all that.
How about the slumps in Northern Pacific
swami OF confidence" three words ex-
press il. When Mr.. Cakes is away l look after
BODY bod By SAYING was going Vest. the report
vas started that both of would be absent
from the annual meeting, and that nothing
would be Done about the preferred STOCK W hen
left l placed with my broker an order for 500
shares AZ s. cents. told him to buy II up at
ST. II It came down that far. He bought the
Is there any possibility OF a deficit?
don't see how there can be. OF course, our
expenses have been heavy, but, as Mr.. Meien
pays, We are earning $4,000 per day. You see,
last september showed the largest receipts In
the history of the road. This year the first two
or three weeks Of the month showed a falling
OF. 1t has been pretty hard work TO catch mp
with last years great showing. However, Traffic
Manager Hanuaford told me on the way out
shst the end OF this month wa. showing phe-
nOmcnAl increases, and he thought IL would turn
out TO be equal to last year.
Do you Imagine anybody Is manipulating
Northern Pacific stock?
No femphaticaliyl. OF course. the profess
1ionas lingering around for weak spots
When they find weak spot they will jump in
and surprise you. II may be all right a: night,
but In the morning 1t will be different. But
the public Is not buying stocks. The public is
not In the market now.
Did Mr.. Willard sell two large blocks OF North
ern Pacific stock recently?
No; Mr.. Willard did not have them to sell.
Then he intimated that men OF Mr.. Wizards
class usually did not hold much stock vii
lard used to be a power Mr.. Wright concluded.
with rogush sidewise glance over his speeta-
Giles, "and could place stock where he wished,
but he may have lost his grip
Isthe old Hunt system now any part of the
Northern Pacihcs
No, sir, not biz of it, Ihavc just concluded
the reorganization OF It. II IL the only road in the
country that hasn't a dollar in bonds over it.
IL 10 entirely free. have ali the deeds. The
last QUO will be- brought to me tomorrow by
Judge Macarthur, OF Portland. The road is free
80 place freight where 10 pieases. My expert
bookkeeper, Mr.. Anderson, has completed the
accounts, aud my son has just handed Inc this
statement. Think of ii, $513,030 turned over 10
che Northern Pacific!
Mr.. Wright spoke with unrestrained enthusi.
asm, handing the correspondent the following
sraTpurSr
Showing Northern Pacific Railroad Com pany' q
gross receipts from what has heretofore been
called the Hunt system " of roads for the year
1891 This statement does not include freiehts
on coal TO Hunts junction. nor freights billed
on local business TO Hunts junction. nor sup
plies shipped To the Oregon d Washington Ter
Titory railroad. Nor does il include the bust
ness OF the Northern Pacific Express Company
Northern Pacific railroad from freight with the
Oregon & Washington Territory railroad, &a56,
224ss. Northern Pacific railroad from passen
gers with the Oregon 4 Washington railroad
tl7,9,zi9: total, &5ei, 1927.
Don't you propose to bond the roadf
Yes. will place per cent bond basis
Of $4,000 per mile. The system consists of l6l
miles. Next winter l will extend the road
eighteen miles to the Snake river.
Will YOU extend across tho Cascade mountains
TO Puget soundg
That ID stili question. There parties de-
string to have connections made via the Ms
qualiy valley. the succotasn valley and the Cow
litz pass. They wish to know where we viii
meet them on the other side. You know tn,
Nofthern racine once thought oil making
the Cowlitg pass 1t is rich in timber and coal
There is room for more roads.
II don't use 1t suppose somebody will Bu
guess will remain free for OF least year any
way. There used To- be time W hen the North
ern Pacific owned majority of the Tacom,
Land Companys stock-it don't own 1t now
though-when IL was said no other road couil
get into Tacoma That il not the now.
Mr.. wrigh: was astonished at ths grea
amount ofgrsin in the waila walia couutry
Over million bushels of wheat was in III,
warehouses, filling them inside and under Tn,
caves. This is only third of the crop Que
farmer, he found. had t0.0,o bushels lett owe
from last year, for which he had been offered Q
cents, but held il for dollar This year he ha
two crops.
Further reference was made to the Grca
Northern railroad. and Mr Wright then said:
II takes ten years 10 wori; up local traffic TO
q road. Mr.. fiiil can talk all ne wishes bu
he will find this out IN this country In com
ing ont went through tho train daily to III,
dining car and observed that the cars wer
getting on aud OF. 1t takes time to do this.
About Taeoma's water supply. over which
there has been 30 much agi tation here, Mr.
Wright said:
Every city. Just az soon as IL Is able, ahouls
own its own water and light works. when tn,
Tacoma water supply plant was established ",
did not want To run the city in debt to pay 10
It's water. SO far the company has not paid
cent IN dividends. All OF the profits have beer
paying the interest on 81. go noD IN bonds " HE,
hsve been Sold The plant vas bonded Tor 81
10000. IL 10 one OF the best properties I'm tn
Northwest There would De no profit for us /,
selling the light aud water plant for s. lo 900 a
6per cent interest, or s.,uoo,1p at 6 par cen,
That would simply cover the actual cost Ii tn
city could make n bond for forty years ~ conlt
take this plant and pay Interests, expenses an
the like snd have \ sinking fund sufficient i,
that time Ia wipe out the entire issue of bond
necessary to buy It. Tho plant cannot lie re
placed for s2.Ooo00a
In paterpal SORT Of way, Mr.. Wright said IA
would Ike TO have the credit OF turning tn
light and water plant over to the city Thu
viii be q surprise In many, as IL has been ~
peatediy charged that Mr.. Wright did not " 81
60 part with so good paying proposition. HI
argument in favor OF municipalities ovnlu
their own light ana water plants Mss that nm
der such ownership assistance could be rem
dered industries in their infancy when uude
private or corporate management such sssis;
anec, while mani testify for the bensi, Of IN
city. conii hardly We expected II Tacoma IA,
s1aano population. MIR. Wright saws the Gree,
river would be the proper source Of water sur
ply.
A trip about the hay snd water front, with
visit Ia the exposition. were pisnned ios N,
Wright Tor this afternoon snd evening
The Gmatiiia's fasseagers
gsx,znasesp Uuaiilia sailed for san Frsneixn