THE FARMER'S WAR AGAINST MONOPOLIES. 219 



1. Grading, masonry, bridges, rails, and entire sur- 



face works of the line $60,320,000 



2. Sidings 4,200,000 



3. Sundry expenses inclusive of engineering 5,000,000 



4. Telegraph lines 600,000 



6. Buildings 2,312,000 



6. Working capital 3,615,000 



7. Small branch line 1,200,000 



8. Extra expenses 800,000 



9. Interest on capital during construction, minus 



the income derived from the working of al- 

 ready finished lengths during that time 7,230,000 



Total $85,277,000 



" 8. To raise this sum the Northern Pacific Railway 

 Company intends issuing bonds to the amount of $100- 

 000,000, and pledges itself to pay interest at the rate 

 of 7.30 per cent, per annum in gold out of the surplus 

 revenue from the traffic of the line, and to redeem the 

 bonds within thirty years. 



"9. As security for the payment of interest and the 

 redemption of the bonds, the whole of the property of 

 the Northern Pacific Railway Company, the line and 

 buildings, as well as the land grants, have been made 

 over to the trustees, as representing the bondholders, by 

 a general mortgage deed, registered July 1st, 1870, in 

 the office of the Secretary of the Interior of the United 

 States. 



" By these data the extent and aims of the Northern 

 Pacific Railway enterprise, and the means by which it 

 is to be accomplished, are clearly set forth. Adding to 

 this the fact that up to August, 1871, a length of line 

 of 140 miles, extending from Duluth, Lake Superior, to 

 twenty miles beyond the Mississippi, was already com- 

 pleted and in working order ; that 120 miles additional, 

 as far as the border of the State of -Dakota, are, save 

 little interruptions, almost complete, and that lastly, in 



