The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1898-10-13
PACIFIC COAST ELECTION.
OLD MANAGEMENT Is ENTIRELY
SUSTAINED.
provement. Steamship Earnings
furnishing the Bulk of 1t, Coal
Properties Next Best showing.

NEW YORK, OCT. Ie-The ANIMAL n1est-
Ing OF the Pacific CoaSt Company was held
IN jersey Clay today. The following dire~c-
tors we're elected: For one year. Hamilton.
HI Duratfi, Herbert A Tucker john kean-
For iva years. E. s Hartman. Daniel :
Lamont, Henry ". Cannon. Fer three
years. q. r. Sci3ley, T. Jefferson Coolidge.
1r., j. T. Heimerdng.
Ine present management & sustained
The annual report Of the company covers
IN. seven months ending June 10 last and
the iE2ccfns account for Eaat period already
piiolisHe'l, shows surplus over interest,"
surplus. after full dlYl1ends OF the first and
second preferred and ! per cent. on the
common stock, Of sl57. SIS
The net earnings of the company for the
period were ssss5,}.S, OF which the steamer
lines provided $tl4.a& and the coal depart
men: Sla5,@55. the balance coming from ne
railroad lines. Xpenditures for Corstruc-
ton and improvements during the year
were SZ.l.I7l
Il Is estimated that the amount necessary
10 be expended on the property for re-
newdls ana repairs and improvements t.lls
year Is s1l9.cv.
c. J. Smith. general manager OF the Pa
cidc Coast Company, returned yesterday
from a SIX weeks trip FIJI the Eastern
states. his principal stay being in New
York city. Speaking OF The affairs OF his
company as presented TO the stockholders,
be- said:
The stockholders are we'll pleased at the
results which were produced during the
past year. as the earnings nave exceeded
their expectations.
THE annual meeting Of the company
took place today and proved a harmonious
one. II had been understood for some DAYS
that there would De an opposition 70 the
present policy and management of the
company. oul from private advices. which
i nave Just received no opposition mate
fiaI!Zed at the meeting, and the present
mana 6 ment has elected Il board of direc-
tors Which will PROBABLY continue the OPP
erdtrn OF the company in 49, Line Of it,
present policy. There were two factions
asking for prox IS. namely: I jefferson
Coolidge, Jr.. of the Ola Colony TruSt Com
pany. of Boston: Grant d ScEley. OF
Moore & Schley. Of New York and Decker
the present policy of the company: while
epnosed % them were Rols-on X Bass and
Elijah Smith, VINO were soliciting proxies
and simply carrying out a programme Of
opposition.
''Tte ret earnings OF the company have
averaged over sl1cag month since the
IRIS OF the year, and the earnings for 1s@s
viii ~ more than million dollars"
Speaking % The financial situation In the
East, Mr.. Smith said
Il found the money market In New York
very easy and the interest n the Pacific
coast very much stimulated ny the large
earnings and evidences Of prosperity of the
corporations that are located more particu-
larry in the Pacific Northwest, This is es-
Great Northern and the Pacific Coast
Company. their heavy Increases being an
evidence 20 the people there OF great m
pT0VementS in the country from which
their earnings were derived. have ere
ated a belief that lie prosperity is "A per-
manent one ana that IL Will increase r.th-
Ct than diminish
Money Is very plentiful and at very
reasonable rates. and there are very large
investments n railroad and industrial en-
terprise stocks and bonds on Wall street.
which have been going on for some six or
eight months.
Eastern capitalists are rot Vet ready
pr.Ses ana capital Will rot he ready for new
Western enterprises until Il very mach
greater norton Of the income paying So
cur les has been absorbed ~ Eastern in
teTests When tat time comes the sur
plug money. Of which there * a great deal
in p" East. Will be forced into new enter
pr.StS. d not. however look forward 10
such condition Of affairs for some months
70 come. probably not until Dex; year
Interest in the KlOrdkr has very large
u decreased owing part!v Il the greater
interest taken by Eastern people In thu
late Spanish war. which has absorbed tae.r
attention for the past six months AMI
partly "a the fact that 81 MANY stories II
hardshipS and rriVatIous and difficulties on
the trails and a,ong the Yukon have heen
sent Fast accompanied hy exaggerated 70
ports OF the output Of gold The senti-
r9e ut on THIS subject In the East So one q
dis:rust and doubt as II the ncruaNeuCy
and reliability of the Yukon district rs 4
gold producing sid. This Doubt can only
may he obtained for such invest ments as
have already been made - that At pres
trt The field l. not q good ore for any now
ki0rIikr enterprise - solicit capital for "