The New York herald., 1875-09-28
UNION PACIFIC RAILROAD.

THE ANNUAL REPORT OF THE GOVERNMENT d.
RECToRs- SATISFACTORY CONDITION OF THE
ROAD.
WASHINGTON, Sept. 81, 1875.
The government directors in the Union Pacific Rail-
have filed their annual report for the year ending
July l. 1875. The gross receipts S11 522 OIL an
increase 1874 of 81 36e and the net
earnings in the same time ST. $40, 424. The
operating expenses were $47SS,630, There has
been added to the roadbed iron, bridges de-
pots, hotels, shops &C., costing 5000 1906 and
rolling stock, costing $275020, which was
charged to the construction account Ten hundred
fifteen of and GAO tons of iron rails have
been laid down. rolling mill has been built by the
company Laramie and put in operation reducing the
cost of rerolng their rails to nearly half New
ties being furnished the company fifty cents each
for red pine and eighty cents for oak 1t them
mine coal and put il on the cars 81 90 per ton.
CATTLE
The cattle shipped the road from Cheyenne and
other points eastward 5s1 loads against 262 car
loads IN 1874 and in reference TO this traffic the
directors say
The herds the plains of the Platte constantly
ereasng while the aggregae number Of cattle becoming
one % OF the eeI & ce , which the eastern
an unsurpassed grazing rance and the lands belonging
tne @ goveeh ana 70 tne company ought TO ne placed un
could be secured TO both
FREEDOM FROM SNOW
They state that the road substantially free from
obstruction by snow last winter though the fall was
unusually great The protection of the road against OBJ
struction by snow has been carried to such degree
that the risks are no longer greater than between New
York and Chicago. The 'washouts" of last spring
caused delay of three days 10 passengers
and ten days TO freight; but 1.-THE means
adopted to prevent recurrence sufficient
| TO dispel any apprchcnsions for the future -
They recommend localized management and report
many things having been done which doubtless would
have remained undone for indefinite periods had it not
been for than usual attention to and contact with
the line of President Dillon They report reduction
of the debt last year of $67S 900 and a total of
So GOO 600 land grant bonds paid of since the
! petion Of the road, and they why
! this reduction of the bonded debt should not
the road has a capacity of doing double It's
present volume of business without any considerable
additional expenditure or which may not be by its
increasing revenues and without any increase of Its
bonded debt This increase they estimate can be run
up TO $50 900 annum without any increase OF its
bonded debt.
THE CLAIMS OF rhE GOVERNMENT
They give the history OF the Efforts of the company to
compromise with the government for its. bgatons to
| it, They do not specify any amount Tor which
the government should compromise, but call attention
| TO the decision of the Court of Claims, that
the government would only withhold half OF the
amount of its business and that the company hold the
five per cent the net earnings be paid the
ment annually sinking fund for the redemption Of
! bonds, is not five per cent on the amount left to
| divide among the stockholders, and quote tho
| Supreme Court decisions in st. John VS.. The
| Erie Railway Company to sustain their position.
ments of fixed for a period Of years
10 constitute release of all claims of the government
upon the road for It's advances and Endorsements They
hold that at the end of thirty years the government
| will have saved in the item of transportation
$50 SAC, ,S32, and this without any allowance for the
natural increase Of business beyond what II was the
completion of the road. The mail service has in
creased ten tons per day.
! They conclude by saying:-"The road is a vast and
valuable property, well cared for and we'll maintained
and capable of returning the government the invest
| ment it has made therein"