The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-09-16
NEWS OF RAILROADS
ANNUAL REPORTS OF THE NORTH
ERN PACIFIC OFFICIALS
ARE ISSUED
IMPROVEMENT OF PROPERTY
Expended for Right of Way.
buildings, bridges, Etc.-COst of
New Branches-SOmeth About
the New Lines That Were Ac-
CURED by Purchase-SynOps of
General Managers Statement.

The annual report of President
Charles E. Mellen and other officials
OF the Northern Pacific Railway COM
pany was issued yesterday. The re-
port of President Mellen, which is a.
condensed statement of the company's
business, is, in part, as follows, the
statement of earnings and expenses
having already been published:
Inc properly (roadways structures and
equipmenU has been improved during the
year, and is well adapted for the Increased
traffic which is expected from existing busi
ness conditions and abundant haryests in
tne territory served by the company. Be
slues the eighteen locomotives and 100 box
cars charged to equipment account and paid
ior out or the betterment and enlargement
tund, the following described equipment was
purchased S and built during the year: Thirty
seven locomotives, 200 box cars, 80 fiat cars
1Go coal cars, II furniture cars gravel
plows, Russell snow p:ows, Bucyrus
steam shovels.
Upon reGuisition Of the executive officers.
approved by the board OF directors, ex,
pendltures, from the betterment and enlarge
ment funds have been made during the past
nscal year for real estate and right of
way, $S2, 525.H; buildings, $27, 800 "a; bridges.
$9sl' aO4;'9; permanent lining of tunnels, fenc-
ing ana new docks and wharves, $127 O29.66.
New Branches and Extensions
Gaylord & Ruby Valley s134 55S 81
Glark's Fork branch ........... Ia sos 81
Extension to Hoquiam .............. 1888 70
Souris River branch - 10 319 9S
The Northern Pacific owns ali Of Se CAM a.
tal STOCK and bonds of the Seattle & In
ternational railway, viz: 81, 400 900 par value
OF stock and 81. 100000 CT first mortgage 4
per cent ponds. 1t also owns ST. 112 900 (be-
ing AID of the first mortgage per cent
ponds OF the Spokane " Seattle railway.
mere is no floating debt or other obligation
Oh either of these companies. The cost of
the above securities was 81 433 1921
mere has been purchased all of the capital
STOCK ana income bonds of the Washington
PTlslng 1928 miles of road in the states of
washington and Oregon, tributary to this
6 6aa hnsn lines For many years this road
company, and as it was about to be sold il
was thought advisable, as a protective meas
S Sge, 10 acquire the same; The cost of the
securities purchased which comprised 81 GOO
OOo par value of stock and 81, 245 600 par va lie
OF income bonds, 1892 ,S1625
An opportunity was availed of to acquire
Ior thls company o. the balance of the CAPT
tai stock Of the Montana Union RAILWAY
company OF which already this company own
eG one-ha3; (2) all the capital stock of the
lease by the Montana Union; C0 a certificate
OF OF indebtedness of the Portland & Puget
sS 91n ~ RaliWay company of the par value of
the Union Pacific receivers and the Montana
Union railway and the Northern Pacific Rail-
aoao company any aggregating $764, 339. So all at
The total cost of all the foregoing nur-
ehases was $5S04, 1853. 70, but since possess ~,
mas mas Deen taken by this company there has
Deen realized On accounts due these cononanieS
s., 422, 1854 NAMING the net cost
Inc earnings and expenses OF the roads
included In the above purchase shows For
the year ending June go 1898 q net "nr,i iui
vestment "PoH Tie III
Your directors have agreed with the Wash
the central Washington to take a lease of
us us ROAD Tor the period of nine hundred and
ndnetyonine years from March 1, 1898, and in
part consideration Of the same have received
an assignment of all claims held by the Cen
udl washington and its successors against
Ine Northern Pacific Railroad company on ac-
tee OF interest and rentals, such claims con
stituting a cloud upon this company's interest
IN the land grant east of the Missouri river.
Ihls company now owns all of the canifal
stock of the Washington Central Raitwav
company. and pays an annual rental equal
r 10 Inc interest upon the per cent frst
upon the existing road to 81 53S 900
In acquisition of these interests there were
aenvered out Of the treasury assets voting
trust certificates for ST. 1877 500 of Northern pa
clhc railway common stock
WIN the possession of the Washington Cen
tIdI railway referred to above, there was re-
stored Store to the system of railway west of St.
raul and Lake Superior all of the mileage
comprised in the old Northern Pacific system
prior to the receivership of 1893
During the greater portion of the fiscal
year. in connection with the Pacific coast mas
sehger business, in which this company Is
largely interested, bitter war of rates was
waged which has seriously affected its reye
nue. from this branch of its traffic In no wav
can responsibility for this deplorabIe condi
uon be attributed to the officials of your COM
pany, who have made every effort in their
power to bring about an adjustment
General Manager Kendrick saws IN
his statement that the general condi-
ton OF business during the last fiscal
year was quite satisfactory. The
schedule time of the transcontinentaI
train has been shortened two and one
haH hours, and local passenger service
mas been inaugurated upon various
districts where improved business con-
oltlfEls made it necessary The last
winter was favorable for railway on
GRAFTON, as there was but little snow
and no disastrous spring freshets. The
improvements Of grades and the substi-
tuition OF heavier power engines for
light and inefficient locomotives has
tended to minimize the operating ex
penses. Nearly 210 miles of new track
on the main line have been laid. with
seVenty-tWo-pound rails. During the
year 315 wooden bridges have been
replaced by embankment, plate girder
and steel truss bridges.
An important engineering work
which Is yet under way, is making
open cuts Of several tunnels in the
mountains. The change enables the
trains to make better speed through
those sections.