The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1899-02-28
SPOKANE CATEWAYCL0SED
Hill Shuts Out N. P. and o. r. &
N. on British Columbia Trade.
VIGOROUS PROTESTS MADE
Through It's Control of Roads North of
Spokane, the Great Northern Gets
the Lions Share of Ore Ship
ments-Railroad Gossip.

and Oregon Railway & Navigation
from British Columbia. This action on
the part of the Great Northern has
brought out several vigorous protests,
The Salt Lake Tribune has the follow
ing on the subject:
President James j. Hill Of the Great
Northern and also Of the Spokane Falls
& Northern, likewise of the Nelson &
Fort Sheppard railway, has succeeded
in closing the Spokane gateway. The
action was taken d couple OF weeks ago
by the astute railroad magnate Of ST
Paul, hut it is only recently that the
Significance Of the move mas come to be
appreciated and its injurious effect felt
by the local lines.
Tn the formal notice issued by Presi-
dent Hill. all tariffs On ore between the
Spokane Falls & Northern on the enc
hand and the Northern Pacific and Or
egon Railway 4 Navigation company
on the other, were Cancelled.
The loss to the two last named roads
was great, and this loss is also shared
by the Oregon Short line, the Union Pa
cific and the Rio Grande Western,
which in the past had handled large
in transit to the Colorado smelters A
heavy tonnage of this ore passed direct
ly through Salt Lake via the Western,
but this has all been suddenly stopped,
and the Great Northern and Canadian
Pacific now control the business.
Mr.. Hill was ever known to be a
raiiroader who continually kept his
eyes on the track ahead, but as long as
he did not invade local territory he was
present case, however, he has severely
cut into the freight traffic of the three
Utah roads to such an extent that they
will be upheld in taking letaliatory
measures.
1T was only last summer that Mr..
Hill secured the Spokane Falls g. North
ern and the Nelson & Fort Sheppard
roads. The Northern Pacific imagined
it had both roads bought, but Hill Went
to New York, upset the Northern Pa
cifc plans and bought The road him
self, for the sole object of shutting out
the Oregon Railway & Navigation,
Northern Pacific and connections. Th@
two lines consist of PIT miles, running
from Spokane to Nelson, B. c., on the
Kootenai river, and a branch to Port
land. They tap the Kootenai district
and are Hear, the famous SLOGAN Kaslo.
Trail Creek, Salmon and other famous
British Column ian mining districts, the
total output Of which is something
enormous g -.-.-r. H.
For many reasons the Colorado smell
tiers were in good position to secure n
large percentage of these ores. From
now on they will not be able to bid for
the business, and it is presumed that
Mr.. Hill is working solely for the long
haul to the Chicago shelters, to the
exclusion of all other cities ON the CEN
trial circuit. which include Omaha and
Kansas City.
by a clrcuitous route, however Mr..
Hill could lay down the ores in Omaha
| and enjoy the long haul from, British
Columbia as far as Sioux City, via the
several lines in which he is interested"
At the special meeting of the direc
tors of the Chicago, Burlington d
Quincy, held in Boston a few days
ago, it was decided to raise about S.,
100000 of new money for Improvement
and equipment purposes and to- issue
| SIS. 900, 900 in new bonds, with the pro-
ceeds of which the Chicago, Burlington
| & Northern and the Keokuks & Western
railways are to be bought in. and the
| ottawa, Oswego & Fox River Valley
road s per cent. bonds falling due arc
| to be liquidated - 5
Chairman Hunnewell of the finance
committee stated after the meeting that
no refunding plan was contemplated.
He said: go 80 - ~
1T is the intention of the company to
put new mortgage on its properly
east of the Mississippi and we need
about five millions Of new. money, as we
| intend ITO buy in the Chicago, Burfing-
ton & Northern and refund its debt this
/ year, and we shall also at the same
time make provision for the Ottawa,
Oswego & Fox Valley 8 per cent. bonds
falling due in 1900, SO that it will make
! about s16.00o,00 to raise"
The plan of the directors is to go to
/ the stockholders for What money is
wanted this year. say about $16,000000,
| issuing to them about $4,000, 900 stock
and 100000 new 312 per cent. bonds
| for $16000,000 cash, which will give the
stockholders reasonable compensation
for advancing a large sum of money
without increasing the company's an
nual payments. The directors voted to
buy the, keokuk & Western, $50 miles
| long, in Iowa and Missouri, and prac-
/ ideally in Chicago, Burlington & Quin-
| cy territory.
AS a 81 per cent bond on the prop
erty of the Chicago, Burlington &
/ Quincy east of the Mississippi river
| practically all the eompany's property
! in Illinois and wisconsin, may be con-
eidered as worth par, it is explained
t'AtASeASttiiS
agreed to raise $4,000, 900 from the
stockholders by giving them a bonus
| of $4,0o0000 in Chicago, Burlington 6,
Quincy stock. AS their stock is worth
nearly S. 900, 900, the Chicago, Burlington
& Quincy stockholders get a plum this
year of the value of Sc, in addition to
their Sc cash dividends. The. amount Of
Chicago, Burlington & Quincy stock
outstanding is $SS, 635, 100.
Western lines are not at all pleased
| with the prospects of the tourist season
for 1899, and they base their fears on
the fact that cheap excursions to the
coast, as already advertised, are alto
gether too numerous and are too far
apart to be of any advantage to the
roads. Two important conventions are
ito be held in California during the sum-
mer, which means, practically, a great
reduction in rates to the coast for the
| entire season. During July, the Ma
tional Educational association will con,
vene at Los Angeles and al the end OF
May the Baptist National societies an,
niversaries are to be held at San Fran
| aic