The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-10-22
IS OWNED JOINTLY
GREAT NORTHERN'S ANIMAL RE-
PORT THROWS LIGHT ON BUR-
LINGTON DEAL
EARNINGS AND EXPENSES
Details of Gross Earnings and OPP
eratiOn-New Lines Acquired
Equipment Ordered
Traffic and Rates.

The annual report of the Great North
ern was lust issued yesterday. II re
veals much that has not appeared in the
Terorts of the Northern Pacific or the
Burlington concerning the relations OF
these roads to each other. President HUI
In his report, speaks of the Burlington
being owned jointly by the Great North
crn auC Northern Pacific. On this sub
ject ne says:
BOUGHT THE 20" JOINTLY.
The Great Northern Railroad company
and the Northern Pacific Railroad com,
pany have jointly purchased l'Ot9: ~
shares (SI01.5T7 200 of capital stock OF the
Chicago, Burlington & Quincy Railroad
company Cbeing 1913 per cent of TIC to-
tai authorized issue), and IN payment
fnr same have issued their Joint collat-
cral trust bonds and scrip to the am 'ult
of $2l5. 1874 400. Further bonds of the same
series. up to a total of SOD 100000, may
be issued for acquiring the residue Of the
stock. The bonds are dated and dr@W
interest from July l, 1901; they matnre
July !, 1921. but may be redeemed on
the 1st of any January or July after J2n.
!, 1906 at lO5 per cent, with accrued IN
terest; and draw interest at the rae of
4 per cent per annum, payable jan
ana July l, in each year on coupon BOMBS,
and January l, April l, July l and Octo-
Der J. in each year, on registered bonds.
The shares of Chicago Burlington Il
N@ANAN-
bee3 deposited with the Standard TrISt
Company of New York. as trustee, ua-
der 4 collateral trust lndenture S6cur-
ing the above bonds and a contract has
been entered into between the Great
Northern and Northern Pacific companies
defining the rights and responsibilities
of the companies growing out of the ac-
QUESTION of the stock.
AS this transaction was not completed
Until after the close of the fiscal year
neither this cOmpany's interest in the
Burlington stock acquired, nor its liabil-
lty on the joint collateral bonds issued
are taken up in the accounts shown in
this report.
The Burlington system includes 1920
miles of standard gauge railroad Ton
which are 423.15 miles of second track,
making S,4l5.75 miles of standard gauge
single track, and 1871 miles of narrow
gauge railroad. 1t is located in the
states of Illinois, Iowa. Missouri Ne
braska Colorado, Wyoming, South Da-
kota and Montana, a territory of great
extent; rich in all resources except tim
Der; already well populated and devel-
oped and containing many large cities.
TERRITORY IS RICH.
The Burlington is favorably located
with ample terminals in the important
traffic centers of this territory, inciud-
ing Chicago, st. Louis Peoria, Kansas
City, st. Joseph Omaha, Denver, st. 2 .ul
Minneapolis, Burlington and DCs Mo mes
The territory served by the Burlington
PIGMENTS used on the farms, in the for
ests, mines and mills of the tier of
states reached by the Great Northern
and Northern Pacific. 1t also produces a
large part of the iron and steel products
exported to Asia via the Pacific ocean.
Chicago. Kansas City, ST. Joseph and
Omaha are the largest provision centers
In the country At st. Louis it connects
with the chief cotton carrying lines of
the South and Southwest. On the other
hand the Burlington territory takes for
fattening the live stock raised on the
Northern and Western farms and ranch
es. 1t consumes lumber in all shapes
on large scale.
The timber of Michigln IN, Wi -consin
and Minnesota will soon be gone. The
forests of the state of Washington must
hereafter, to an increasing extent, sup
ply the demand for lumber in the prairie
states of the middle West. Those for
ests are now the most extensive and
most available body of saving timber
standing in the United States The
Great Northern penetrates them IN many
places ard should be in a position to
reach market and secure the haul of
the vast tonnage they are capable of
anorolEg: The size and Value of this
traffic Will constantly increase.
IN addition to outstanding and author
zed stock of the Burlington, aVera ging
approximately 3.139 per mile of track
thefe are Outstanding in the hands of
the pubic, after deducting sinking
funds in the treasury, bonds on the sys-
tenn amounting approximately to $I5s2g
per mile, making the capitalization of
the system approx mately $2S,96S per mile
Of standard gauge track.
MAP OF THE SYSTEMS.
Accompanying the annual report is a
map of unusual interest. embracing the
Great Northern, Northern Pacific and
Burlington systems, the latter being own
ed by the Great Northern and Northern
Pacific Jointly.
The map shows proposed extensions of
the Great Northern from Great Falls
TO Oko, Montana, connecting with a
proposed line of the Burlington extending
southeast and crossing the Northern Pa
cific east of Billings to the main line
of the Burlington.
Another Burlington extension is south
from Billings to Cody, Wyoming These
are the only Burlington extensions
shown by the map that are now under
consideration, but the first che mentioned
will give that road a direct connection
with the Great Northern at Great Falls.
me extensions proposed on the North
ern Paclhc are the same as those shown
IN President Mellen's report, issued four
weeks ago.
The report of the earnings and operation
expenses are given without comment.
Inc report gives a full and comprehen-
slVe statement Of the operation of the
road in detail, but is too Voluminous to
present here.
EARNINGS AND OPERATION.
The gross earnings of the system were
as follows, comparison being made with
1900 1901.
Freight ........... $22 533 O19 SO S21 623 653 9s
Passenger .......... 4,652, O91.l6 4.SOJ, 49, "A
-n1s, "a