Show Purchase Northern Pacific Preferred Stock NEW YOUK May 5 Thomas F Oakes president of the Northern Pacific confirms con-firms the report that the directors of that road have authorized the purchase of preferred pre-ferred stock of the company with money to bo received from the Manitoba land case recently decided by the United States supreme court in favor of the Northern Pacific We think we will get the money about May 25 said Oakes In the meantime mean-time the company has plenty of money on hand to anticipate the purchase of the stock if the market conditions should warrant war-rant it The directors have also authorized the expenditure of 2000000 for improvement improve-ment of the property We find that by reducing re-ducing grades at certain points we can save in operating expenses 500000 annually an-nually |