Year: 1867

The Chicago Tribune of April 9th has
the following


Like all great projects, however essen
tial to the progress and necessities o
mankind, the North Pacific Railway has
passed through several stages of dis
couragement and neglect. Some two
years ago the company was reorganized
and a large number of the leading rail
way managers and large capitalists in
New England became interested in the
enterprise. They applied to Congress
to endorse their bonds to a reasonable
amount, to be secured by the lands on
the south side of the road. the track and
the entire rolling stock of the company.
As it was made up almost entirely of
New England gentlemen, a sufficient
amount of Congressional influence could
| not be secured to carry the bill. We
learn that measures are now about per
fected again to reorganiZe the company
with so much power that it can hardly
fail to, secure the completion of the road
as fast as men and money can do it, pro-
vided Congress, at the next session, can
be induced to give the work that nation
al encouragement which it's merits war
rant.


In this new arrangement it is under
stood that William Ogden, for himself
and the Northwestern railway, takes
one-twelfth and one third of one-twelfth
of the entire stock; Thompson, Presi-
dent of the Pennsylvania Central, Cass.
of the Pittsburg, Fort Wayne and Chi
cago, Fargo of the New York Central.
Berdeil of the Erie, and the American
Express Company, each take one-twelfth
and the balance of the stock is arranged
to be taken by New England, and per
haps by some other parties. The


nancial strength of the new company
will be ample, and the business capacity
of the managers will command the en-
tire confidence of the public. The Union
Pacific railroad will this very year save
the government, in the cost of transport
ing troops and supplies, more than the
interest on the bonds advanced to the
company, and a surplus will be left to
go towards extinguishing the bonds.
The same will unquestionably be true
of the Northern Pacific line.


Congress has granted to the company
forty six millions of acres of land. These
lands they propose to throw open to
pre- emption and settlement, at prices
ranging from fifty cents to So per acre.
This viii at once send large stream of
stIlItTS III ddNdnCS Oi the builders. and
crowd the finished portions with bust
ness, and very shortly with return
freight from the products of their indus
try. The advantages of such a policy
are manifest. The line of the road Is
the only belt of country reaching en-
tirely across the continent that is sus-
ceptible of sustaining large farming
population. OF the vast mineral treas
ures of Montana, Idaho and Washington
Territories we need not speak. With
the Northern Pacific railroad to deyelone
them, the amount of silver and gold thew
would yield to the currency of the nation
would, If now stated. appear absolutely
fabulous. The road would of course
divide the commerce of the world with
the Central line, but that will be ample
Tor both lines. AS the North Pacific
railroad and the Central must meet and
compete at Chicago. we need not point
out the interest our citizens have in both
these great highways for the travel and
the transit OF merchandise between
Europe and Asia. Its effects upon our
growth and prosperity the most san
guine would not dare now topredict.