The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1896-08-02

er than that our trip West was q pleasant
one, and that the road in this section ap-
pears 10 be in first-class shape In every
respect"
The reorganization Of the company Is In
this shape: The sale Of the lands In this
district will be made in Seattle Monday.
After that the party VIII return East
The new company viii take the road from
the receivers on midnight Of August 81,
and from that date 1t will be operated as
the Northern Pacific Railway Company.
This is only a temporary organization OF
the new company. This viii be perfected
some time within the next six weeks A
board OF directors viii be elected py the
voting trustees. who are: j. r. Morgan.
Charles Lanier. George Siemans. or ber-
Ian: tombstone Livingstone and August
Belmont. The control Of the new company
Will rest with these five gentlemen FOR the
next five years. All OF the stock OF the
company stands IN their names.
There is a very nice bit OF history con-
nected with the charter OF the railway
company. When the reorganization plan
was perfected resolution was introduced
In congress authorizing the reorganization
and the transfer OF the company's charter
and privileges to the new company. The
resolution was amended IN both houses
until 1t became practically valueless for
the purposes of the reorganization mana
gers. Ex-senator Spooner, OF Wisconsin,
under whose personal direction the reor-
ganization plans were drawn, was equal
10 the emergency. Away back in 1858 the
legislature OF Wisconsin granted rail-
road charter TO a number of gentlemen In
Superior. The name OF the company was
the Superior & ST. Croix Railroad Com
pany For years the charter lay idle. very
little II any road being built. In 1895
resolution amending this charter was
passed by the legislature. This gave II new
life, and suit to determine its existence
being brought In the suprems court OK
the state by the attorney general. the
charter was held TO be alive. Ten miles OF
road were built. and last spring the COM
nary's name was changed TO the North
eru Pacific Railway Company. Its capital
was Increased from 10000 to fi55,oeS. GOO.
Notices OF the company's intention TO do
business in the states through which the
road passes have been filed within the past
month.
While none OF the gentlemen Ia the
party would discuss the future Of the
COMPANY as regards ne expenditure OF
money for improvements, Il may be stated
that NJ. until the November election will
ANYTHING be done The Post-Intelligencer
correspondent was informed that even the
purchase OF the site for the depot al Sc
attic would be delayed until after II was
known whether the country had been car
rted hv the Bryan silver forces. or wheth-
er the nations credit ana honor were 70
be preserved through the administration
~ William Mckinley. Only the improve
r,ents now under way win be completed.
Others must wait TIL after this election.
ss 10 the purchase Of the Central WASH
ineton and the Seattle. lake Shore &
Eastern. ana the building OF new
branches. Il was stated that the officers Of
the company would not authorize the ex-
penditure of money in this direction IN
III thew were persuaded that Il would
bring returns on the investment