The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1898-06-16

serve dividend fund. preferred. OF 81
0oo. go. Controller Gray, says the st.
Paul Pioneer Press. speaking concern
ing the reports. said:
Il heard something OF this kind was
afioat In new York. but was unaware
any dividend In common had been de-
clared. ] am not inclined TO believe
that Il has been declared, though I
lions of the Northern Pacific In this
matter, except that net earnings are
sufficient to allow such dividend. There
arc man parties inclined to the con
sentative. side who would prefer to
hold back for the present the money
that might go to a dividend on COM
mon, which at I per cent would amount
| to $500. 0O0." =
The ike charges are sc. 000. 900: the
dividend on preferred at 4 per cent
would amount to $3,0 00. 900. N these
amounts added to the proposed $500, 900
dividend on common and s.. zoo. 900 re-
serve fund for preferred. would pre-
suppose het earnings of nearly So. 000.-
600. 1t Is known that the net will show
tremendously, even though not reach
ing that stupendous figure.
There is one circumstance in connec-
ton with the report about a common
dividend. which is that only three div
idends were declared on preferred last
year., one being carried over. Before
the common dividend was legally de-
clared IL Is believed a special dividend
on preferred would have to come. The
general belief among those who are
posted is that the Northern Pacific will
defer a dividend on common at this
time. but provide for the amount of the
reserve fund for preferred mentioned.
The memoir of the occasion when
Northern Pacific went a little too fast
on the strength of unexpected earn
ings Is still fresh, n a repetition of
those consequences will be avoided with
the greatest care.
The surplus cash assets or June 30
are estimated at more than $4,000. 900.
Under the caption. New Trans-Pa-
cific Line" a Wall street publication
say ~editorially:
"while there is no official confrma-
ton. it is believed In circles familiar
with the transportation situation on the
Pacific that j. j. Hill Is carefully lay
ing his plans for a new line to operate
from Puget sound to Honolulu. Manila.
Hong Kong n Yokohama. With the
Hawaiian and Philippine islands be-
longing to this government an Ameri-
car line following this route would be
in a very favorable position to secure
business. From Puget soun 20 Hon
olulu the distance Is 2. 1000 miles, over a
course extremely advantageous. as the
Jaran drift is of more service to steam
ers sailing from Puget u han from
San Francisco. From Honolulu to Ma
Mia Is 400 miles. The distance from
Puget sound to Manila is nearly 1000
miles. which Is too great without a
profitable stopping place, which Homo
lulu offers.
The return route could easily he
made by going to Hong Kong n Yo-
kohama, thence to Honolulu and Puget
sound. From Yokohama to Puget
sound via Honolulu is about 300 miles
shorter THAI the westward trip. and a
route of this character should be profit
able from the start. m IL Is covered
by m other line. The advantage also
rests with Mr.. Hill in this matter. as he
would make traffic arrangements with
the Northern Pacific as well as his own
road. The building of extensive ware
houses and wharves at Seattle 'or the
Great Northern lends color 10 the as
sertion that Mr.. Hill concentrates the
establishment of this line in the near
future"
l. is stated with seeming authority
that l.. +. Day. traffic manager If the
Minneapolis & st. Louis, will be APP
pointed vice president or the Great
ANOItHtfH, ~ I'LL the Vacancy cduStu DN
the resignation of w. H.. Newman. who
left the service of that company to be-
come president of the Lake Shore a
Michigan Southern. Mr.. Day is well
fitted by years of experience in Western
railroad circles for the position.
A circula has been issued
ing that for the present Frank u.
Clark, traffic manager of the Great
Northern, will perform the duties for
pnlrIxy attandad fn hu Air Nawman
This gave rise to the rumor hat Mr..
Clark ultimately YOU be given the
vice presidency. but this is denied by
those claiming to know.
One of the most popular train serv-
ices introduced in Montana by the
Northern Pacific Is the Sunday train
running between Butte and Pipestone,
the great health resort of the West.
The only other service hat could be
Put on that would be of great public
benefit would be better facilities for
reaching the springs daily, or by run-
ming the. special train two or three
times a week. The Sunday train car
ries hundreds of people. and the rate
Is so low that Ii is cheaper to go to
the springs than to stay at home. The
people of Butte have few opportunities
for an outing. and every facility grant
ed by the railroads is sure to be taken
advantage Of to the great profit of the
railroads.
General Passenger Agent Fee of the
Northern Pacific has just issued the
completest vest pocket book of infor-
nation regarding the naval and mill
tary strength of the United States and
Spain that has yet appeared. In so
pages there is a complete list of the
warships. h names or their command
ers. tonnage capacity. dimensions and