Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1902-10-04
The Marvellous Northwest

The annual report Of the directors of
the Chicago, Milwaukee and St. Paul
railway, submitted to the last meeting
Of the stockholders, and covering the
operation of the system for the fiscal
year ended June 80. illustrates. among
other things, how little even the most in
telligent and careful of observers real
iZe the extent and grandeur of the re-
sources of the great Northwest.
The year was one in which the North
western farmers met with tremendous
losses, as result of general and dis
astrous drought. Before the season was
far advanced it was predicted in the
money centers Of the country that the
railroads penetrating the territory would
suffer Immensely from the failure of the
crops.
Figures were not wanting to prove
that the traffic would decline anywhere
from 80 to Is per ent. Yet as the
weeks and months Passed by and the
railroads entering the corn and wheat
belts seemed to require the service of all
their rolling stock, the efforts to bear
the stock market became weaker and
weaker, until they were finally aban-
dOned.
The Northwest had reserve that
neither Wall street nor La Sale street
had counted on. If the estimated loss
by drought be compared with the value
OF the farm products hauled by the
Northwestern railroads during and after
the drought season, an idea of this re-
serve may be obtained. 1t is revealed.
in part at least, by the fact that the
company named was able to report gross
earnings for the year of $45,613, 124.84,
or 1924, ,112. 19 in excess of the previous
year.
The tonnage was 87,732 tons less than
IN the preceding year, and agricultural
products comprised only 248O per cent
OF the total, as against 27.87 per cent Of
the total in the previous year, but the
number Of tons Of commodities, other
than agricultural products, carried dur
ing the year was 14,954.331, and increase
over the previous year of 1895 tons.
The people in the Northwest had less
to offer in the way of farm products
than they had the previous year, but
the higher prices obtained for what they
had enabled them to spend more on their
commodities. In other words. the
drought, instead of injuring them, i'm
proved their condition to the extent that
it served to increase the value of their
products and to enlarge their purchasing
power.
That they were provided with ready
money is proved in many ways, and in
no way more satisfactorily than in the
reports OF collections which have been
made from time to time. But it is dem
onstrated in the report of the passenger
traffic OF the ST. Paul lines in a manner
that will perhaps prove more conclusive
to the average man. The earnings from
this source were 1856 per cent greater
than in the previous year.
This cannot be accounted for by the
increased immigration into the North
west. 1t can only be accounted for on
theory that the people of that section
were able to indulge in the pleasure of
traVel last year to greater extent than
in the previous year. People do not
travel for pleasure, as a rule, unless
they are provided with comfortable
surplus.
1t may be true that last years pros
perlty was more apparent than real.
since it drew largely upon the reserve.
1t may also be true that another wear of
drouth would have exhausted this re-
serve completely. But this is mere
speculation, and hardly worthy of con-
slderation, in view Of the fact that this
years harvest will restore the reserve
and allow very handsome margin.