St. Paul daily globe., 1893-10-20

NEW YORK. Oct. 19.-The annual
election of directors of the Northern
Pacific Railroad company, which began
today, was adjourned at2 O'Clock until
tomorrow, in order to give all stock
holders an opportunity to vote. The
polls will open again tomorrow, and will
close finally two hours later. In ali
about $4,000 shares of stock, 10000
shares less than the total cast at the
last annual election, were voted today.
Of this number 100000 were voted by
Brayton Ives and August Belmont and
their associates, and 100000 by the
Willard faction. All of the ballots were
cast for Messrs. Ives and BelmOnt's
ticket, the Willard faction, as told by
Associated Press last night, having
withdrawn from the field, when Mr. Ives
showed his proxies on 100000 shares of
stock and convinced them defeat was
certain and that to put up rival ticket
would only injure the company in the
eyes of creditors like the Deutscher
bank, of Berlin. This is the ticket, and,
there being no opposition, of course all
will be elected directors: Isaac w. An
derson, August Belmont, Charles T.
Barney, William sL. Bull. j. Horace
Harding, Robert Harris, Marcellus
Hartley, Brayton Ives, John S. Living
ston, Daniel Mackay, August Rutten,
Wilbur F. Sanders and Winthrop Smith.
Whether or not the new directors will
meet and elect officers after the polls
close tomorrow afternoon has not yet
been decided, but when they do meet
they will elect as president Brayton
Ives, who headed the stockholders in
their recent fight against the Willard
faction and succeeded in harmOniZing
the creditor interest with the stock
holders.
Mr.. Robert Harris will in all proba-
bility be chose as first vice president.
This information is given on undoubted
authority.
The report of the Northern Pacific
directors shows that the gross earnings
of the company, including receipts from
the Wisconsin Central lines and other
leased and branch roads for the fiscal
year ending June so, were 500. .55l. .302.94.
Operating expenses and taxes, SIS, 1885,
339.S4; net hearnings from operating.
SO, T57, 1868. Other receipts, 81, 166,-
1865. Total net income, S12, ,924, ,6S9.7S.
Against which have accrued the fol-
lowing charges: Rentals, S3, ,4S9. 1888;
interest OH funded debt, S7,092, 159. II;
guaranteed to branch road companies,
81, ,453, ,972 %: interest on other than on
funded debt, S499, 1851; sinking fund
accrued, SLIT, ,537.97; sundries, $780,,
836.05. Total, S14,613, 945.4G. Deficit for
year, 1889, ,255.6S. The capital stock of
the company is $S5, 40, 1912. of which
$40, 900, 600 is common stock and $50. 140.-
1912 is preferred stock. The preferred
stock is S424, 1853 less than that of last
year.
During the fiscal year the funded
debt was increased by the issue of So
100000 of collateral trust notes.
1t was decreased by the redemption
of the following bonds by the action of
the sinking fund: Missoula division
bonds, S32, 900: Pend d'Oreille division
bonds, $1,000; general first mortgage
bonds, S433,000 general second mort
gage bonds. S212.00O.
From the proceeds of land sales these
bonds have been cancelled: Pend
d'OreilIe division bonds, 1882, 900.
Total reduction funded debt. 81, 0S7, 600.
The land commissioners report
shows sales for the year of S0,511.16
acres, amounting to S1.251, ,3O6.S6. The
number of acres remaining unsold On
June 80 was 3S, 442, 500.S7.