. North Dakota history and people; outlines of American history. stock of these companies aggregated $6,500,000,and their bonded indebtedness with past due interest nearly $33,000,000, asidefrom floating obligations. These had to be purchased at prices above those forwhich they had previously been offered in the open market. The total capital-ization and indebtedness at that time of the companies taken over was approx-imately $44,000,000. The property secured consisted of completed lines from St. Paul via to Melrose, a distance of 104 miles, and from Minneapolis to Breck-enridge, a
. North Dakota history and people; outlines of American history. stock of these companies aggregated $6,500,000,and their bonded indebtedness with past due interest nearly $33,000,000, asidefrom floating obligations. These had to be purchased at prices above those forwhich they had previously been offered in the open market. The total capital-ization and indebtedness at that time of the companies taken over was approx-imately $44,000,000. The property secured consisted of completed lines from St. Paul via to Melrose, a distance of 104 miles, and from Minneapolis to Breck-enridge, a distance of 207 miles; and of two projected lines, one from SaukRapids to Brainerd and one from Melrose to the Red River at St. Vincent,on the international boundary line. On these latter some grading had been doneand about 73 miles of track had been laid. There were gaps between Melroseand Barnesville, Crookston and St. \incent that must be filled quickly. In them-■selves, had it not been for the promise of the future, these were scattered tracks 1-^ OOC o. u HISTORY OF NORTH DAKOTA 337 in a country just being settled, out of which to construct a railway system andon which to base the financing of their purchase and development. We advanced the money to build the Red River Valley Railroad, fourteenmiles of track from Crookston to Fishers Landing, on the Red River, makinga through route by steamboat from that point to Winnipeg. While negotiationswere pending and also after they were concluded, but before possession couldbe secured through the foreclosure of mortgages, an immense amount of workhad to be done. The extension from Melrose to Barnesville must be pushed,and was carried thirty-three miles, as far as Alexandria, and ninety miles werebuilt in the Red River Xalley to reach the Canadian boundary. The formerwas necessary to save the land grant, whose time limit, already extended, wasabout to expire. The latter was in addition to connect with a railroad projectedby the Ca
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