New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-09-23
EUROPEAN FINANCIAL MARKET.
financial.
SEPTEMBER 18th. 1898.
70 THE HOLrERs OF TIE PREFERRED AND
COMMON STOCK OF TUD
Northern Pacific Railroad Co.

The BOARD Of Directors has appointed Mcs'rs l. Il.
Wright Of Philadelphia. and william l. buli and CHARLES
T. Barney. If New.York committee - receive th'
proxies 81 stockholders for use NJ the ANIMAL 'h- "
occur on October 10Th next.
Board deems It proper b rmind Won tha' "hllc ''
extraordinary continuous decline In earnings AMI the
pressure Of present financial and commercial conditions
made II imperative for the company 10 submit u Inc APP
rontment 81 receivers ord conserve all int 'rcSt,
and protect company, property, II should also b -
mombcrcd that during their tcrm OF ohce the company
reached It's highest prosperity during ms p"r"u' anu
for the first time ca, DIVIDENDS earned AMI paid -
,ieierrd stockholders amounting to over :3d0ocoo
Moreover by personal efforts and. n l'rt. hy their own
Subscriptions syrdc,t for the rt'-cment Of the ho'''nr
debt was CT atcd AM S7oOOOpo cut 81 the propose
.I..ocoocc were funded into the fi'oioar Collateral
Trust Notas.
The receivers. Mes.rs Thomas T. Oaks Henry c.
PAYNE and Henry &. Rouse. are csIcriiY h''d ~ rl
road experience aud a.lu,lnanc" with the Wo"iu' oil
this company o DIAL with the comnla'ed interests IN
,ol,cd The Directors gard tn rcce versiD A. tc bet
method OF protecting the property during the PREVAILING
business Depression
Tn, changed conditions Affecting the entire Northern
Pacific system and tho II governing receivers re
ou.rinc them to con.idor the subject from the standpoint 81
,r,nt II, nc o. loss regard to the larger con
sheraton, that might Influence TIE cofi"Fl''oh IN pros
,r,u, times. and when possession II IT. proI"iti's h1'
led The rccivtr, 10 recommend the court tn acceptance
OF the proposal Wisconsin Central Railroad company
for The laton the lease. That subject u'icorc
is practically removed from ntaftlon
several changes also. have Occurred Ia our Board
durnc the pa.t year. Mc.-rs. Henry Willard, r. g. Kol-
sion and j. IT, Abbot have retired from III" board and
Mcs.rs Charlie. L. Colby. Colgate Ioyi. AM D. = W'ag
have notified the Board IN writing that they VIII no' o''
cert ,tion ut tha coming annual meeting thus Great
ing siN vacancies D. n'd 40 the approaching election
and one Other vacancy J. likely t. occur.
D,nirr IL fscr 70 ckh0drrs that tho term OF The
roard should pending rccciVcr-h.p De- shortud 70 enc
YEAR IN. bylaws have changed - that at the coming
election the Directors De chosen FOR Year Instead
o. three years.
1t j., Hahn the general business preston aNef'
ing alike all Western roai, and largely reducing earnings,
nccos,tatcs some Tcadu.tmcn of the compiay- obhga
lions that the values now belonging 10 The preferred and
common stockholders may bc maintained thereby III"
Board Is alive The duties placed us"n item Dis
REGARDING difference, Jctw stO'klalif> tht concern
ia. ra. the oarl consider the bot Interests Of
lection OF new Board familiar with the properties ~
10 promoc and hasten rehabilitation, Instead 81 Irtaid
ING ,r preventing by unwi-c att1g"hi'u'.
To facilitate the management In attaining these cnds
YOU are requested forward to the Committee your proxy
which VIII be used for the clei,n q Board composed
~ the present and tho additional number made
vacant rs dccnOon, referred o, and TO he selected
by the Committee th all possible care.
BY order q the Board Of Directors.
JAMES Il. WILLIAMS, Vcc-Presdcnt.