Bismarck daily tribune. [volume] (Bismarck, Dakota [N.D.]) 1881-1916, 1912-09-28
HAS SURPLUS
/ |0F 2 MILLION
Earnings Of Northern Pacific
Been Very Satisfactory
Past Year a.. "
Stockholders will Hold Az.
Dual Meeting 10 New
York Coming Week

the Northern Pacific Railway COM
pany will be held in this city on Oct.
|. Excerpts from the pamphlet re.
! port for the fiscal year, ended June
30, last. containing the essential fig
ures of the document, will be made
public at that time. A surplus Of
about $2,000,O00 will be shown. No
comprehensive financial plan will be
recommended by the directors for
action by the shareholders. No other
important matters vii be pres ented
for consideration or action. j.
| 1t Is expected that the five direc-
tors, namely: Howard Elliott, Lewis
Case Ledyard, j. p. Morgan, Jr., T.
w. Lamont and Charles Steele,
whose terms expire, vii be reelected.
Mr. Elliott had expected to come
to New York from st. Paul to pre-
side at the meeting as usual, but it
is improbable that he will do so. In
the event of his absence, Col. w. P.
Clough, who was elected vice prcsi.
dent few months ago to succeed j.
N. Hill, resigned, and who is in
charge of the New York office, will
be the presiding officer. The direc-
tors OF the Northern Pacific will be-
scattered to such an extent that it is
unlikely that an attempt will be made
to secure a quorum until about the
middle of the month.
Earnings Continue Satisfactory.
The earnings of the Northern Pa
cific continue satisfactory. The dc.
tailed statement for August, which
will be Forthcoming shortly, is likely
70 shown better results than for the
corresponding month of last year
or for the previous month of this
year. The car loadngs are now very
large and consequently the gross
earnings for September should show
substantial gains also. y "
Plan Of J. J. Hill.
A few days ago the statement was
published that James J. Hill would
probably buy control of the plants
Of the Colorado Fuel and Iron COM
pany, in connection with a plan that
he is known to have had in mind for
some years for the establishing raj
plant In the northwest, within rea-
sonable reach Of the valuable ore
lands now controlled by the trustees
Of the Great Northern ore properties.
Apparently, whoever was responsible
for that statement, II he were really.
in earnest, has an adequate concep-
ton Of the geographical location OF
the Colorado fuel plants with res.
pect to the Hill ore properties on the
Messaba range. 1t may be interest
ing to know, for those who have not
looked 1t up, that a distance of 1900
miles intervenes between the two
points. Obviously. an experienced
steel man would not locate steel
plant with that distance handicap to
start with. 1t is more probable that
If Mr.. Hill decides to erect rail
plant to supply the Northern Pacific,
Great Northern and Burlington and
perhaps to sell the surplus to outside
roads, he will not go farther wesu
than eastern Montana for a site. 1t
is possible that he would lcate nearer.
the source Of supply for raw material.
Charles Fl. Mellen was yesterday
elected president OF the New York,
Ontario and Western Railway com,
pany, succeeding Thomas P. Fowler,
resigned. The Ontario road is con-
trolled by the New Haven railroad,
Of which Mr. Mellen has been presi-t
dent since he left a similar position,
on the Northern Pacific. |,