The Madison daily leader. [volume] (Madison, S.D.) 1890-current, 1895-08-13
TUESDAY
THE DEAL DROPPED.
Sale the Hr'-Adams Combine Will Soon
lie OficinIIy Declared OF.

Sale the hf'-Aua"S SOmDanc " ia Soo" !
lie OfficinIiy Declared OF.
MINNEAPOLIS, Aug. ia Tacoma
special to the Tribune says: 1t is stat
ed here in Northern Pacific circles that
the Hill-Adams plan to reorganize the |
Northern NIcific is positively of. and
that an authoritative statement to that |
effect will be made in New York very
soon. High officials say the present
earnings are sufficient to meet the in
terest OH the first, second and third
mortgage bonds. and that if the earn
'ngs continue to increase at the present
rate they will be sufficient within a
year to pay the interest on the entire
present. bonded Indebtedness. This TACT,
they say, has been fully explained to
J. Pierpont Morgan and Mr.. Adams,
with the result that their views have
undergone change. 1t is understood
that Morgan approved the first plan,
which had to be dropped. He has
since expressed willingness to join IN
a si1aiiar plan if it could be devised,
but has not committed himself to the
third company project as it stands.
Adams is said to hold similar views.
~ IL pCAiSNCu tlat N"o "S>AA7
Hills plan will be finally rejected and
step taken to form an independent re-
| organization.
The road is now earning money at
the rate of S6,0C0,00O net per year,
while between s., OOeO 600 and $1,000
coo would pay the interest on the en-
tire bonded debt.
Northern Pacific men claim to be-
| lieve that Hills chief object is to get
| possession OF the Northern Pacltic's
! splendid coast terminal system, which
he could not duplicate. they say, for
less than IS, 600 600 to SO, 600, 600.
THE COLUMBlA'S RECORD.
Said the Navy Department Will Try to
Break 1t with the Olympia.
SAN Francisco, Aug. l3. The navy
department has evidently determined
| to ascertain if the Columbia is the
fastest of American warships and has
assigned the honor Of competition to
the cruiser Olympia. The Olympia
will soon go to join the Asiatic squad
ron and the department. has ordered
that she shall try to make an ocean
record as far as Honolulu, at least, and
possibly across the Pacific. Local ma
val officers interpret the order to mean
that the government wishes to break
the worlds record made by the Colum.
bia recently, with all average speed of
over Is knots an hour, which was made
from Southampton to New York.
1--WE believe sincerely that We shall
beat the record:of the Columbia" said
one of the officers of the Olympia.
"The distance is 1.200 miles. and we
ought to make it in four and one-half
days"
| Will Re No Race.
WASHINGTON, Aug. 13.-The Olympia
will leave San Francisco about the mid
die of this week, by way of Honolulu,
to the Asiatic squadron to relieve the
Baltimore as flagship of the station. 1t
is stated at the department that there
have been no orders given to the Olym.
pia to make rapid trip across the Pa.
cific or even part Of the way, and it
is probable that the report originated
in the talk Of the officers who assert
that the Olympia is as fast as the Co.
lumbia. At the navy department it is
said that the Olympia is to remain on
, the Asiatic station for three years and
that the department would not risk an
} injury to her by sending her at full
speed across the Pacific.