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Show A RAILROAD DEAL. The Northern Pacific Establishes a Steamship Steam-ship Line to China and Japan. (New York, May 35. The announcement that the Northern Pacific succeeded in establishing estab-lishing a line of steamers between Tacoma stad China and Japan is confirmed here. The arrangements are completed with an English syndicate by which the new company, com-pany, called the Northern Pacific Steamship Company, has been formed, with President Sir Vim. Pcarce, London, who has organized the Canadian Pacific Steamship company. There will be three ships under iheBritish flag, voyages will be made monthly in each direction, direc-tion, and within a year it is hoped to have serni-uu nthly service. The first steamer of the new company left Hong Kong May 21st. I The line opened in time to carry part of the tea crop, of which the Northern Pacific fiithcrto transported about 30 per cent. The Northern Pacific, as a company, will not liave any pecuniary in the steamers, the steamship line taking the ocean earnings, whil ' the. Northern Pacific will take the over- land earnings on the traffic interchanged. i Th,c steamship line will deliver exclusively tothe Northern Pacific, but will compete for exports to the Pacific coast at all points. Pacific Mail Earnings. jSew Your, May 23. The annual meeting meet-ing of the Pacific Mail stockholders resulted in. the re-election of the old board of director. direct-or. The report showed the gross earnings for th.- fiscal year to lie $4,309,263, the operating op-erating expenses f.OSS, netearnings $731,307. President George Ctouid in his report says the gross earnings have increased but the earning- have decreased slightly, owing to the fact that the company was compelled to spend u large amount to put the fleet In condition con-dition to meet the increased requi rem cuts far speed and passengers to qualify under 'ie subsidy law for carrying mails. Vice-President Vice-President Houston said the earnings, excluding exclud-ing the amount expended to comply with fee subsidy law, is equal to per cent in stock. |
