The Irish standard. [volume] (Minneapolis, Minn. ;) 1886-1920, 1911-11-18
n. P. RAILWAY IS
NOT SEEK|NGCASH.
DECLARES HOWARD ELLIOTT IN
REFERENCE TO RUMoRs OF
BIG BOND ISSUE.
BURLINGTON LIKEWISE IN FUNDS
President Elliott Says Road Is on In.
crease-Operations in October
Were Heavier Than for Sew
eraI Months.

eraI Months
New York, N. Y, Nov. 15.-Howard
Elliott had busy day, beng engaged
constantly with directors meetings
and conferences. He spent an hour
or more at the office of j. P. Morgan
and company. He dined with Darius
Miller, president of the Burlington, and
attended a theater as Mr.. Miller's
guest. All day Wall street was flood
ed with rumors that large railroad
was no ground for mentiC..ing either
$100,000,000 bonds. Burlington and
Northern Pacific were both mentioned
as the probable company.
Mr.. Elliott stated emphatically there
was about to authorize an issue Of
company in that connection. AS to the
Burlington, he stated that the meet
ing of directors was simply for the
election of officers and that moreover,
the company is strong in cash and has
no unusual financial needs. He further
asserted that the Burlington is not
contemplating selling any treasury
bonds in the near future. Regarding
the Northern Pacific, he said that
company has no pressing need for
money, and that even in the spring it
would not be necessary to do more
than TO sell treasury securities to fin
ance the new work that may be taken
up at that time.
Increase in Gross.
With respect to the recent results
of operations on the Northern Pacific
Elliott said: Northern Pacific after
showing decreases in both gross and
net for many months made an in
crease in gross in October, and will,
l believe, show quite substantial in
crease in net.
Loading in October for term of
years, gross, was as follows: 1907,
$4,000; 1908, S1,S16; 1909, S6.712;
1910, S1,562; 1911, 90,091. Figures for
October of this year were the largest
for any October in the companys his
tory. Securing lower rates and con-
siderable short haul business, earnings
per car were not as large as in some
other years. Nevertheless, car load
ings show that people in Northern Pa
cific territory are buying things and
doing business. look for further i'm
provement in trade in the Northwest,
but believe it will be gradual. l think
my road will show an increase in net
earnings in November and December.
as we'll as in October"
! Going into detail regarding the
growth of Northern Pacific and its ex-
hibit at the land show in this city,
which closed last Saturday night, Mr..
Elliott said: "When the golden spike
was driven in 1883 in western Mon
tana, marking the completion of the
Northern Pacific, the greatest step
taken in development in the new
Northwest was made. The New York
land show is one if the most recent
steps, showing to the world what the
great states from Lake Superior ana
the Pacific ocean can produce from the
soil.
Growth in Population.
when the Northern Pacific was
completed there were only a million
and a quarter people in those states,
and now there are more than five and
a half millions, and soon it will be ten
times that number.
Promoters and early builders OF
the Northern Pacific had faith in the
country, but as all the world knows,
that company had many trials AID
tribulations, and was not financial
success until after the reorganization
in 1896. Since then railroad and coun
try have grown and improved.
Products raised on lands adjacent
to Northern Pacific rails took first
and second prizes in barley, oats, al
falfa, food plants of growing impor
lance, not only for stock, but for man
winning Of these prizes in competi
ton with all the United States and
Canada shows that the Northern Pa
citic occupies territory where man car
produce the best grains, grasses anc
fruits by the exercise of intelligence
and industry and many fertile plains
and valleys of Minnesota, North Da
kota, Montana, Idaho, Washington ani
} Oregon offer unusual opportunities tt
: those seeking places for themselves OF
their children to make homes and tt
become useful citizens. For, with ma
tional growth, has come great develop
ment of schools, hospitals, and al
those forms of social activity tina
} make life at this time SO convenien
J and luxurious compared with 80 Year,
. ago."
Two Men Fall to Death.
Onalaska Wis.,, Nov. Is. Joh1