Page:Oregon Historical Quarterly vol. 9.djvu/308

284 portage as well. Arrangements were made for the shipment of this iron at once, and the work of constructing The Dalles and Celilo road was commenced. They had completed about three miles of this road at The Dalles, when Mr. Bradford became more and more frightened at the success of Mr. Ruckle on the Oregon side of The Cascades. This led Mr, Bradford to agree to the construction of a road by the Oregon Steam Navigation Company the full length of the portage of the Washington side of the river. As soon as the negotiations for the sale were completed the construction force at The Dalles was taken to The Cascades and placed at work. Ruckle became convinced that his true policy was to sell to the company. The purchase was made that gave everything into the hands of the Oregon Steam Navigation Company, November 4th, 1862, and the price paid was $155,000.00.

The company that was first organized by special act of the Legislature of Washington Territory, with nominal headquarters at Vancouver, was dissolved December 5th, 1862, and re-organized under the general corporation law of the State of Oregon. This settled the question of supremacy. The Oregon Steam Navigation Company was now master of the river, and all rival interests were now centered in the company. The capital stock was $2,000,000.00, represented by twenty-five shareholders, at $500.00 per share, as follows: