New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1875-03-18
NETWORK DAILY TRIBUNE THURSDAY 1TRlPIE SHEET


mortgage
paying nearly sSO.OCoOOo OF the public debt. r,.
In The opinion OF JndsG Hunt 10 me R, snse o. Come
pany ct a., stated that 1t is apparent to the most
superficial reader OF the statute that the great oece
TO tirns Increase gratutes, 10 a corporation which
should undertake the completion OF arar9ao 70 tne
or" But the Company has disposition to take ad-
vantage OF any unguarded beralty OF the uoVernmen
1t place itself IN complete accord WIN tne COY
eminent Ii has constructed great national work-in
fact nternatiOna-of which 1t is Justly proud Ine n
ncaculable The reports OF the Government directors
show that the Company has acted In the utmost Pood
faith in caring for anu maintaining the properly an
the last report OF said Directors shows from Government
data, that, without direct payment oy the company
of the PRINCIPAL aud OF the subsidy bonds ueo
TO IT, tie Government will he fully reimbursed Dy ne
indirect benefits winch accrue to from the
IL Is deemed important that the stockholders snouia
take some affirmative ut this meeting, ooncefns
the proposition submitted TO the Government, Ia oas
that the same may placed before Congress NJ ls heAs
session, with the full approval OF the Company Al,
Since the commcnceinent OF the " ~
Union Pacific Railroad It's affairs have Deen auIni ia
tered by the stockholders without any Ss
Government and the puDhc nave aIono heoe,'o s tne
great benefit Of Line connecting the TWO ocot' ,his
Government saving cost Of transportation up W tns
date being over 100000 sum In excess Vi tue intoi.ss
advanced by the Government for the road. Tue
Of your officers. OF the Governments a to
different Commissions appointed by the ooVernnen "
examine the road, testify now IaionIuiy .no naDdf
holders have fulfilled their charge. The large
lures for ne construction, and comply with me ae
mands OF the Government which have oeen pa gnva
surplus earnings and which upon any otner rOau woua
Justly due aud would have been pad 10 the
made no longer necessary Dy tae
OF the road. BY any other company these exp 80
would lave been charged to construction ana tdneu W
the capital OF the Company Inc trainc vi Tue 20 hnf
one of permanent ana unlimited growth Ihere 10 put
little uncertainty rs its earnings, aud there 10 no ro
in the United States that can carry an eq nue
traffic al the cost small percentage OF It's revenues
The past Winter tho severe since the toao was
completed, has demonstrated thaf tne rD pSI rssnIt
ger liable obstruction Dy snow. 1His 's
has been reached by PERMANENT improvements 'HN'
avoiding future expenditures .,.o. NM
Tne Iul The.
train been SERIOUSLY delayed by snow, WINE tOa'
have been snow bound for several continuous day
TIE decision the supreme Court or the Onieu et,
relating TO the taxation OF the unpatented lshus' Is
great benefit to the Company BY relieving IL Holh
oTestons penaing In the Executive Departments rel
atlVc It's aHds, depot Sizes, rights oi way re'e,'
tons. amounts duc IOr Government tTahePO1 ~
have been nnaiy settled, generally III ia'Vr VI INC
Company. -, c,.,,, |
DECISION determining the amount due the Company
ton VIII place Ia tue treasury ol the CoiHp"nJ "0'
'Ine establishment OF rolling mill the line and |
contracts mne relative TO iron, VIII " the COM
pauy sIOJO0 per anuu, and reforms III lne ioI
department win reduce It's cost about si0cOo per AL
Tue amcable arrangement made with both steamship
lines on the Pacific via brln1 relnuneTave prices oi
all the Pacific aAu CHINA trade, and AID largely " 'no
surplus earnings. -. -. ,,o ann |
IL from the foregoing facts, ana the con
sderaton that, as shown b. tIc Treasurer STATE
the surplus earnings FOR 1874 were nealy siA ~. Ill
dollars, and that the Company lot TIE year 1910, W."
be relieved from many the extraordinary expehd
lures heretofore made, while the non-acton VI tL1
eminent proposition OF the COMPANY WIZ @.o
reeye IL from holding any money in the treas1 Ior
the purpose meeting the payment proposed or 1919,
tDa there will in the treasury large sum OF money
profits from the operation of the ROAD uuins 'na'
year. 4. - ...o,-hol,ars .ho |
question: WHAT disposition snail DC made o. shcse prof.
lis being their opinion That DIVIDEND OF SIX per
cent tue year 1885, payable IN quarterly nsauents
the first payable july could DC mad WlChOut uett
to the Company as II Is certainly iap que u 'n0
stockholders.
The Directors cannot conclude their report without
warmly cOmmeudlng the General Superintendent
S. III. III. Clark ana the local Olcels OF the Coul-
pany engaged in operating the road. To their ndety
capacity energy the extremely favorable results
which nave been accomplished are largely due ~
order OF the Board. SIDNEY DILLON, President
T.. II. ROLLINS, Secretary.
At the annual meeting Of stockholders held IN Boston
March TO- 1875 the proposition OF directors to pay
dividends the of cent, payable In quar-
te:y instanlents commencing July 1, was unanimously
approved ana the following resolutions were adopted
ReSOired That report of the Board or Directors
having been approved and adopted they are hereby re-
quested to pay the surplus earnings OF the Com
pany dividend OF six per cent per annum. payable
quarterly commencing Jnly l. 1875.
Resolred That action OF tho Board Of Directors In
proposing 20 the u 5. Government the payment into
the Treasury OF fixed to form a sinking fund TO
pay the Government debt and interest this IN lieu OF oil
demands Of all kinds OF the Government upon the Com
pany, be and the same is hereby approved, and the
Board OF Directors In their discretion. hereby au.
thorized to cOnsummate the same.
SIDNEY DILLON, President.
Z. II. ROLLINS, Secretary.
-