The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1894-05-15
NOT ArkAID or coxEsIsx.


0seas NestAsrn's Lsadea Agess Talks
On Ansssesn nasinsss.
Thomas Skinner. Of London, one OF the
directors Of the Canadian Pacific railroad
and the financial agent Ia England Of the
Great Northern road. arrived In the city
last evening from Vancouver, B. c., ac-
companisd BY his friend, @. Fsrrar. Of
London. They are travelling In the Wsst
for pleasure and incidentally Mr.. Skinner
h looking ovsrthe property In which he
II interested. They len on the eastbouud
Great Northern train last night in Presi-
dent Hills private car, which had bssn
sent out for their use
Mr.. Skinner 10 god type Of the pros
porous English moneyed man, with .
round. good-natured face lighted up BY .
pair OF keen blue eyes, in which . good
deal Of msrriment turks. and wsll-formed
bald head frfngsd with curly gray hair.
which also struggles over the crown. He
II not only the financial agent Of the Great
Northern. but 10 himself personally In
terested in the road. In speaking Of the
road and Of the financial situation gensr-
ally. he said TO Posr-ISrKLLlsEscxR re-
porter:
.sThs Great Northern has secured some
fine property here. aud it, coming has
certainly been sn advantage TO your city,
benefit. No. tho Great Northern has not
sold any bonds since the issue Of $50 000,-
900 made for the Pacific extension In 1890
OF these half were placed In London and
the other half were taken BY the stock
holders themselyss. OF course the finan-
cial depression has prevented the extern
sion from earning a. much money ~ We
ahn anil kax kAA ktse
interested in keeping up the net
earnings by keeping down running
expenses than In having large gross
earnings and. ~ other roads are suffering
~ much - ours. We can look on this
period Of depression with good deal of
complacsncy; and. after oil, adversely has
Its uses. lfyou once get the tariff ques-
ton settled ana the Coxey movement dies
out, business will gradually revive. I do
not think the Coxsy movement will have
any serious effect ont he English market for
American securities il the authorities are
firm in dealing with any iawiessness n
Judge Hanford has been here. and ii IL
fizxtes out soon, a. seems likely.
The United Statcs are rapidly becom-
Ing independent OF the English money
market Tor the financing Of their bust.
ness, in fact IL is surps.sins how this
young country has grown in wealth.
Your state, county. city. gas. water. tram
way and banking Institutions all seem to
draw their capital from this country, and
you only 20 TO England for money to
butid railroads; even the best OF these are
largely kept on this side Of tho ocean. The
smaller enterpr SEES can b. supplied with
capital in this country because
they only draw in the money grad
uaiiy, bat railroad like the Great North
ern requires an immense sum of money
IN . short time for its construction, for the
money does not begin to earn anything
until ths road Is completed; its earning
power depends on its thoroughness.
such enterprises can be better financed in
England. where there are large numbers
OF small investors always on the lookout
for steady income-paying securities. The
amount OF capital available over there II
enormous. ] suppose that any year these
small investors combined could write a
check for fl0o. o0o, oo0 But you are begin.
ming 10 compete With ns in what We have
been accustomed TO regard as our own
Geld. for instance in the county and muni-
cipai bonds OF Canada"
Mr.. skinner was last here shortly after
the great Gre. when the people were dwell
ing In tsnts. and VAS greatly impressed
with the Transformation which has been
worked in the interval