The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1899-06-12
BUTTE News.
AMONG RAILROAD MEN
Extension of the Cheap Excur-
sion Rates.
DIRECTORS OF ONE MIND
Northern Pacific Dividend Will Not Be
Less Than Two Per Cent.-Some
of the Proposed Ex-
tensions.
DIRECTORS OF ONE MIND

The extension of the cheap rates
East to include June II and IL for the
sale of tickets, will not take many
more people from Butte, as nearly ev-
cry one who could afford to take ad-
vantage of the low excursion rates did
s so when they were in effect a week ago.
"A small number, however, went out
yesterday on the Short Lire and
Northern Pacific and others have ar
ranged to go to-day.
The Northern Pacific directors seem
to be of one mind to this extent: All
believe the dividend on common will be
no less than 2 per cent annually and
that it might with perfect safety be
made more, says a Wall street dis
patch. The question of the ACCESSIBILITY
of declaring ] per cent for the latter
half of the year at the meeting next
Wednesday or next month"; has arisen,
but it is pretty certain that the action
will be taken next Wednesday, No as
surances of regular dividends will be
officially given, but it will be implied,
as the company has taken the position
that no dividend should be paid that
could not reasonably be regarded as
permanent. very large party wants
~ 40 pelleT lndIl L per cent next
Wednesday, but the chances are that
the more conservative element will
have its way. All are agreed that the
present liberal policy in the matter of
improvements and extensions must be
continued. The conservative element
simply wants to feel it's way a little
further before becoming pledged to div
idends beyond 4 per cent on the pre-
ferred and per cent on the common.
One of the very best Northern Pacific
authorities says the company's earn
ings the first 10 months of the year
show over 100000 surplus above 4 per
cent of the preferred and per cent on
the common. This is all the more i'm
pressive since the company has dur
ing this period spent S75O.o0o more than
last year in betterments charged to OPP
Grating expenses. During the past
three years six miles of permanent
bridges have been built and that much
more is to be built Last year 100
miles of extensions were built and this
year $50 miles viii be built. An av-
erage for the next few years will be
probably for not less than $50 miles
yearly. Mr.. Mellen is firm believer
in the progressive policy and once stat
ed that a big road like the Northern
Pacific that does not spend from ST.
100000 to $3,000000 yearly to keep itself
in the best condition and most favor
able position, is sure to fall behind and
lose prestige. In the West territory is
growing so rapidly that railroads must
push extensions to keep in touch with
their opportunities. Mr.. Mellen returns
West Saturday night and will not be
present at the meeting. Action on the
proposed extensions in Manitob8 will
likely be deferred until later meet
ing. An understanding has been
reached between the Northern Pacific
the Pacific Coast company. and the
Seattle and San Francisco Railway
and Navigation company, whereby the
company last named will get into Seat
tie over the Northern Pacifics Palmer
cutoff and 10-nile line it will build
from Black River Junction to Seattle.
From Black River Junction the North
ern Pacific uses the Pacific Coast line
into Seattle and the new company
would be permitted to use it also were
it sufficient for so much traffic. Being
pretty well taxed now it was decided
this line should not be used by the
new company, but that a new one
should be built in the same section by
it. This company, which has excel
lent coal fields in that territory first
intended to build a railroad through
and lease the tracks to the Northern
Pacific. The latter preferred to own its
. own tracks from Palmer since they
would constitute part of the main line
so decided to build the road and lease
it to the Seattle and San Francisco
Railway & Navigation company, per-
petually. This has been done The ar
rangement will be profita BILE for all
three roads.
From the preliminary statement of
the Interstate commerce commission
for the year ending June 80 1898, the
following interesting figures are gath