The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1900-05-10
RAILROAD BONDS FLOATED.
CoveIIo & Columbia Executes Mort
gage for 100000 and Construc-
ton VIII Begin.

special Dispatch to the Post-Intelligencer.
DAYTON. May 9.-That the Coyello &
Columbia River Railway Company mean
business is no longer matter OF do oloS
in this county. A mortgage for S.Oo,W0
in favor of the Produce Exchange trust
Company, of New York. was filed in the
auditors office today and bonds amount
ing to 10000 have also been issued Inc
bonds are 20-year first mortgage per
cent. bonds, drawing interest from the
first day of April. 1900.
The Covelo & Columbia River Railway
Company is capitalized for N,1oWo, ana
they have floated their bonds for the pur-
pose of securing money with which TO
construct a railroad from Coyello, this
county, to Riverside, Walla Walla coun-
ty, distance of thirty-t1ve miles down
the milestone hollow. The company mas
been organized since last fall, and during
the past six months has been working
quietly securing what right-of-way as was
deemed necessary in order to get foot
While the Covelio & Columbia River
railway people have not made a great
deal Of noise, they have nevertheless peen
industriously saving wood. Besides right
of-way privileges secured by the company,
it has also entered into traffic agreements
with the farmers for term of five years,
securing for that length of time 100000
bushels of grain annually, to be trans
ported over the Covelo & Columbia River
railway. This is considered to be the
best play yet made by the Covello Com
pany. While the Northern Pacific people
were industriously picking up bits OF
right-of-way along the same route, think
ing thereby to discourage the Covello
Company, the Covello people were fol-
lowing right in their wake securing traffic
agreements, which are all in writing, and
are conditional that the road be built in
the year 1900.
From what can be learned on the quiet,
II is more than likely that the Covello a.
Columbia road will eventually become
feeder to the river system, making its
western terminus at Wallula.
j. A. Thronson, who Is president of the
Covello & Columbia company, is now at
The Dalles, and it Is surmised that he
has gone there to confer with some of
Covello Company was organized for the
purpose of building a road for the relief
Of the farmers in the Covello and Whet-
stone countries, they having given up all
hope of securing a road from either the
o. r, & n. or n. p. companies. The
o. r. & N. has a roadbed graded 10
Covelo now but owing to tie-up be-
tween that company and the Northern
Pacific, the farmers saw that unless they
put their shoulders to the wheel their re-
lief would be indefinitely postponed. Now
that the Covello company is In fair
way to begin operations in q short time,
the farmers feel that this years crop Will
be moved for them by that company.
Mr.. Thronson will also go to Portland
before his return, and will more than
likely make arrangements with contrac-
tors for grading the roadbed. 1t is ex-
pected that there will be some lively
times on the MILESTONE and in the Co
vello district in the matter of railroad
grading during the next two weeks.