The Ward County independent. [volume] (Minot, Ward County, N.D.) 1902-1965, 1909-09-30


quate for an extensive transcont:'
mental and international transporta-
ton system, in 1890 the railway and
properties Of that company were TAX
en- over by the Great Northern Rail-
way Co.. which has since operated or
controlled them; Mr.. Hill all that time
having been its president.
The Great Northern system of rail-
ways-as since 1890 it has been
called-compr.ses about 5000 miles
of main track, and about 1900 miles
Of side and spur tracks, with extern
sive terminals at either end of and
at all prominent points IN the sys-
tenn; and an equipment of high class,
in respect both to quantity and quail
ity. For the better handling Of the
Asiatic trade, a line Of steamships, I'M
rer the name Great Northern Steam
ship Co., has been established, for
which have been constructed, in an
American yard, two of the largest and
most capacious steamships ever plan
ned up to this time. One, the Min
nesota," is in commission, and her
consort, the "Dakota,'' approaches
completion. The system also has two
large sized and swift passenger
steamers on the Great Lakes. con-
Meeting Duluth and Chicago with the
Lake Erie ports.
With the exception of small land
grants covering aUout 600 miles in
the state of Minnesota, the creation
of the rail and water lines of the
Great Northern system has not been
aided by government in any form.
The magnitude of Mr.. Hills efforts
and responsibility in connection with
their creation, appear from the fact
that for the whole period Of fifteen
years, from the begin.ng OF 1879 to
me end OF 1898, on the average
mile o. railroad was built and equip
ped each working day-all under his
immediate direction. His efforts at
economy in construction have been
crowned with such extraordinary sue
cess that the stocks and bonds on
the system, held by the public, az
gregate but ABOUT $3.50 100000 of the
former and $100,000,OO0 of the latter.
All the great services which Mr.. Hi
has devoted to these properties have
been iven without salary or commits
sion, or even repayment Of personal
expenses incurred in company bus
mes. His reward has been limited to
his returns as holder of the cor
porate securities on parity with all
other holders, and to the increase in
value Of his investment resulting
from the development of population
and business. While the foresight,
courage and efforts Of Mr.. Hill and
his associates haze resulted in large
fortunes for some of them individ-
ually, the people inhabitng the reg
ion served by the Great Northern
system have, in the aggregate, profit
ed by them a thousand fold more.
The increase in real estate value
alone, directly traceable to these
causes, would be modestly estimated
at $1,00O,0OO. Reductions in trans
portation rates, voluntarily made,
have directly saved to patrons over
$500 100000, yet in face Of this,
around $5O,00o,0OO hae oeen distrib-
uted among stockholders.
After reorganization Of the North
ern Pacific railway, in 1896, Mr.. Hill
and some of his associates made in
vestments in the stock OF the reor-
ganized property, considerable in az
gregate amount, but forming only a
small fraction OF the total. Move
ments in the transportation business
of the country hen in progress, and
yearly becoming more pronounced,
convinced Mr.. Hill that the progress
of the country then in progress, and
Pacific coast, and running back east
ward from there, would be depend
ent upon the ability of the two rail-
reliable rail connection with the
southern and middle sections of the
country, including the large lumber
consuming district to the westward of
the NJ ssissippi Acting on this view,
Mr.. Hill, in conjunction with the in
terests then controlling the North
ern Pacific railway, in the spring of
1901, negotiated the purchase in
equal moieties, |by the Great North
ern end Northern Pacific Railway
companies, of nearly the entire CAPT.
tai stock of the Chicago, Burlington
and Quincy Railroad company at the
price of $500 per share, payable in
the joint twenty-year 4 per cent
bonds of the two purchasers. The