Bismarck daily tribune. [volume] (Bismarck, Dakota [N.D.]) 1881-1916, 1910-02-24
THE GROWTH OF THE NORTH
WEST.

THE GROWTH OF THE NORTH
WEST.
The new Milwaukee coast line
which traverses the southwestern
corner of this state, appears to be a
dividend payer from the beginning,
and shows that enormous develop
ment is being made in traffic locally
along the lines of the several coast
roads, and through to tide water.
The earnings Of the new road are suf-
fiicent, according to commentator in
Harper's Weekly, to shoW seven per
cent dividends for the first year, and
it is a we'll known fact that the chief
competitors Of the road, the North
ern Pacific and Great Northern, show
steadily firm earnings. II the
amount of business to be done to the
coast was limited, we might believe
that the competition was harmful to
the roads already established. But
the sum of business is constantly in
creasing and will continue to increase
as the great rush of people to the
western part of the country demand
railroad facilities, as new lands are
opened up for agricultural purposes,
and new industries are built up on
the Pacific coast and in the interven'
ing country. Speaking of the ex-
perience of the new coast road for
the first year the writer in question
Says:
When the St. Paul management
four years ago decided to cut loose
from it's dependence on other rail-
roads having lines through to the
coast and build it's own line across the
Rocky mountains, great deal of
doubt was expressed as to the sue
cess of the new enterprise. Making
full allowance for the financial
strength of the interests backing
the project, it was pointed out that
physical obstacles and the high price
of materials and labor would make
the proposed extension an exceeding
|ly expensive piece OF road to build.
Coming into direct competition with
roads which during a decade of pros.
perity had been able to develop an
enormous local traffic through spurs
and branches to adjacent trafic-pro-
ducing centers, it was very seriously
doubted whether the new line could
maintain itself at all.
Six months is short time on
which to base judgment of the sue
cess of such an enterprise, but from
what has been accomplished during
the half-year, every indication is that
President Earling and others who
planned the extension knew what
they were doing, and that they have
not builded in vain. Hardly could
the most sanguine of. those who pro-
jected the new enterprise have ex-
pected that in its first year enough
would be earned, and yet, unless
there is great falling off in the.
coming months, earnings of that
amount will be shown. Recently the
directors of the St. Paul met and de.
clared the regular dividend, the dis
tribution of course being shared in
by the new stock Issue to finance the
extension. Far from being the
struggling line which so many peo-
pie thought it would be, If, indeed,
it were ever completed, this Chicago,
Milwaukee and Puget Sound railway
(the extensions official title) seems
already to have taken a place of
dominant importance in the traffic
situation in the northwest. In oper-
alton only six months the line is al
READY able to show earnings contrib
uting a full share to the seven per
cent dividend paid by the parent CON-
pany. Here, obviously, is a new fac
tor bound strongly to affect the traf-
fic of roads having virtual monop-
oily in that territory.