New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1877-10-20
InY TELEGRAPH TO THE TRIBUNE.l

GOVERNMENT
IBY TELEGRAPH TO TIE TRIBUNE]
WASHINGTON, Oct. 19.-The Government Direct
ors of the Union Pacific Railroad submitted their
annual report to the Interior Department to-day
The following is synopsis of 1t
The material and financial condition OF the road are re-
viewed at length The line is reported to be in much
better condition IN every important particular than it
ever was before. The earnings amount TO %l6OOOOO
which considerably in excess Of the earnings during
any previous year The business OF the road, III all ITS
branches is constantly increasing. Especially is this
true OF the transportation Of cattle More than 10000
head OF cattle brought East during the
past year. The suggest that this illustrates the
extent which the wild lands OF the road are developed
grazing The company has obtained entire control of
the along its line which have been hitherto
in the hands of monopoly OF the old directors Of the
road known the Wyoming Coal Company. The ex-
travagant charges OF that company made it very OPP
pressve monopoly injurious TO the railroad and to West
ern interests IN general The organization of this mOnOp
DIV w9s explained in the Credit MOber investigations
and its abolition enables the road to oDa in Its coal sup
plies at 81 80 ton instead of being obliged to pay 81
This change alone has been worth to the Govern
ment during year in decreasing expenses, and thus
increasing the net earnings. The total saving resulting
from the breaking up of the monopoly is estimated at
100000.
The wooden bridges OF the road being rapidly re-
placed by iron ones The largest bridge. that the
Summit, at Dale Creek near Sherman, which is one OF
the largest railroad bridges III the world, mas been re-
placed with an IRON one.
The gross receipts Of the road exceeded $l2,
600 600 The operating expenses have been reduced
$4,000 The directors report that the road to
strucuon and equipment compares fayoraby with the
best Eastern roads The passenger rolling stock Is
ample and OF excellent character. The freight
cars however, have not been sufficient in number
TO meet the Of the rapidly increasing business,
and many OF the connecting roads have been used
The company intends to take control OF all the
press and sleepng-car business carried over lines
The express business has already passed hands
of the company and has proved very successful. The
Pullman palacecar contract has still three years to
rum when the company VIII decline to renew it. The
Government is now Withholding the entire due for
the transportation OF troops officials and Government
materials until the pending five cent suit is settled,
and the question 10 what constitutes the net earn
ings is decided by the courts early adjudication OF
this question is expected.
The directors submit their views full as to nal
Element with Government for the principal and in
terest due at the end the thirty years They
dent that the prosperity OF the road and its improved
financial condition. will enable them discharge both
the principal and OF this debt when due without
embarrassment The directors estimate that the Govern
ment account for transportation the Union Pacific
Railroad amounts TO between $500 900 and 100000
year. besides nearly 100000 Oh account OF The nVe per
cent fund. They believe that, with the increasing
business OF the rQad, the Government Will receive
fully 81 900 900 from present sources and through the
operations Of existing laws The directors. also, as
means OF settling all pending questions as 10 payment or
the principal and interest of this debt recommend tho
acnent OF law providing for the payment OF half mil
lion dollars semannualy IN addinon 10 what sreceiyed
ing fund extnguismont OF the DEBT Que the tover-
menL carefully prepared statement upon THIS subject