Worcester daily spy. [volume] (Worcester [Mass.]) 1850-1888, 1871-03-09
Uujou Pacific IRaiIroad.

The annual meeting Of the stockholders of the
Union Pacific railroad was held in Boston yes
terday. The annual report, presented by Hon.
Oliver Ames, the president, stated that the earn
ings for the last year have not been so large as
was anticipated, on account of the great depres-
sion of business in California; but, with the
rigid economy introduced in every department,
confidence is felt that during the coming ..r
the net earnings will be sufficient 10 pay the in
terest on all the bonds. The road has been
much improved during the year by smoothing
and pereeting the road bed and in
creasing the protection against snow.
This is now so complete, that in no
instance through the winter have the
trains missed a connection at either end of the
line, although the trains from the east have
sometimes been delayed more than twenty-four
hours. The bridge over the Missouri river at
Omaha is so far advanced that it can be finished
this year. The bridge is to be built so as to ac-
commodate foot passengers and vehicles be-
tween Omaha and Council Bluffs, and it is ex-
pected that the tolls from this source and other
revenue will provide an income sufficient to pay
the interest on the bonds TO be issued for the
bridge, and set apart sinking fund to redeem
them at maturity.
The sources from which increased business
and consequent income are expected, are the
development of rich mines in Colorado and
Utah. which are now attracting much attention
the ore from which must be sent over this roas
to the smelling works in the eastern states ant
in England; the increasing trade with Salt LAX
City and its vicinity, which Mr.. Ames says vii
greatly disappoint him if it does not more thai
double what it was last year; the deposits o
coal and iron ore along the line, especially ii
the neighborhood of Cheyenne and Laramie
abundant, Of the finest quality and very cheapl.
worked, promising an iron district able u
compete successfully with the most ia
vored localities in the country, and offer
ing guarantees that the road cal
be maintained and worked at the loves
rates; the sale of lands and the settlement o
the country along the line, with the increase O
the business Of stock raising, which is found Il
be very profitable and requires large amour
of railroad transportation; an arrangement re
Gently made 10 secure a large part of the trans
portation OF teas and silks from China an,
Japan, from which large increase of receip,
is expected the coming season. and the Montan
business, which hitherto has mostly gone u
the Missouri river by steamboats,, but for II
past year has been leaving that route for Il
Pacific railroad
The report refers 70 the heavy decline in Il
stock and securities oithe road caused by the a
ton of Mr.. Boutwell, the amounts due from Il
government for transportation, and their al
vance when this action Of the secretary WI
over-ruled by congress. No financial statemel
was presented, but the treasurer states that !
naming assets have been disposed Of sufficiel
TO clear up the floating debt, and that tue Apl
interest ON the bonds will be promptly pal
The vote for directors resulted in the choice
the following gentlemen, each receiving Il
waole number ofyotes cast:
Thos. A. Scott, Pennsylvania; Oliver Anne
John Dnh, Elisha Atkins, Cakes Ames Mass
chusetts; L. 7. Morton, New York; II. 4, Ro
bins, Massachusetts; James Brooks, New Yorl