The Madison daily leader. [volume] (Madison, S.D.) 1890-current, 1916-05-31

OF ten years had seven mortgages on
its property, %aggregating 1913, 600 600.
When the 1873 business disturbances
came IL was unable TO earn interest
charges.
Studies Out Details of Pet Plan.
Meantime Mr.. Hill had acquainted
himself with the details Of the situa
ton, keeping in mind his pet plan for
making trade connections complete
between Canada and the United States,
AS he himself told It:
after long and close study of the
situation the slender beginning was
made upon which we risked our all.
Failure would mean immediate and
final disaster. My associates were
George stephen, now Lord Mount
Stephen; Donald A. Smith, afterward
Lord Strathcona, and Norman w. Kit.
son"
The trio OF commercial adventurers
bought the defaulted bonds from the
Dutch holders. an agreement with the
committee representing the latter be.
ing executed March 13, 1878, and all
outstanding Indebtedness, practically,
was subsequently secured.
The property secured consisted OF
completed lines from st. Paul, by way
OF ST. Anthony, TO Melrose, and from
Minneapolis to breckenridge; of two
projected lines, one from Sank Rap
ids to Brainerd, and one from Melrose
to the Red river. at st. Vincent, on the
international boundary line.
New Company Formed.
The connecting and completing of
these lines and their extension north
ward required large sums Of money
and these were raised by the three
promoters. In May, 1879, the st. Paul,
Minneapolis and Manitoba Railway
company was organized to take over
all the properties. IL had IN author
lied capital stock of $l5, 900, 600.
George Stephens was made first presi-
dent OF the company; Richard Il. An
gus, vice president, and James J. Hill,
general manager.
From the very beginning the bust
ness of the new system fulfilled the
expectations of it's founders, and then
began the long task of building up the
country. No sooner was a mile OF
road finished than the iced of build
ing other miles became apparent. Be
fore Minnesota had filled up the tide
of immigration was passing even the
famous Red River valley country and
flowing into Dakota. BY 1880 IT had
become necessary to add a line down
the Dakota side of the Red River val
ley and to plan for many extensions
and branches. Two local companies,
building lines In Western Minnesota,
were purchased.
Gets Eastern Outlet.
Many are the points of genuine his
toric interest developed in the recital
of the growth of what is now known
as the Great Northern systematic
system that Is, in a peculiar sense, ].
j. Hill. One of these points was the
provision of an eastern outlet by way
of the Great Lakes, which was &C
complished by first securing an inter
est in the st. Paul and Duluth rail
way I'm 1881: then the building of the
link from st. Cloud to Hinckley, and
finally the building of the Eastern
Minnesota road In 1887.
The enormous influx OF immigration
and a general western boom increased
business tremendously. The North.
ern Pacific was about completed and
the Canadian Pacific was building to-
ward the coast.
The years between 1882 and 1885
saw an incredible amoun of accom-
plishment in railway construction and
the latter date saw the definite or
g~anization of the Great Northern Rail
way company. to bind into a compact
whole the various properties that had
grown too large for the charter limita
lions of the old Manitoba, BY 1879;
the line was opened through to Puget
sound. In the next five or six years
many improvements were made By
relaying track with heavier rails, by
changes In equipment and by large
additions thereto.
Secures Ore Producing Land.
The taking over of the Seattle ant
Montana extended the system from
Seattle to Vancouver, b. c. In 1889 6
branch had entered the ore producing
regions of Northern Minnesota, a move
which resulted In the taking over by
the company Of great tracts Of orc
land.
- NssuwhNe the ambitions Of the rail-