Daily press and Dakotaian. [volume] (Yankton, Dakota Territory [S.D.]) 1875-1880, 1879-03-05
The Union Pacific stockhoId.
ers Elect Directors and
the Directors Elect
Officers.
Nearly Eight Million Dollars Is the Foot
ing as the Net Profits Of the
Road for 1873.
UNION PACIFIC RAILROAD.

ANNUAL MEETING OF DIRECTORS,
Boston, March 5.-The stockholders OF
the Union Pacific railroad in annual meet
ing to-day elected the following directors
for the ensuing year: Sidney Dillon, F.
Gordon Dexter, Boston; Elisha Atkins,
Boston Russell Sage, New York; Scion
Humphreys. New York Jay Gould, N. Y;
John Sharpe, Salt Lake City IS. S. Il: Clark,
Omaha, David Doves, James Kcene, New
York; VIM. L.. Scott, Erie, Pa f, II. Ba-
kcr, Boston; Fred l.. Ames, Boston; An
derson Commock, New York; W. A. Il.
Loveland, Golden, Colorado. The largest
stockholder was Jay Gould, who voted In
his own right upon l23. 200 shares and on
$4,000 shares by roxy. Sidney DILLON holds
27.7OO shares; Russell Sage 1850, and
Oliver Ames $1,000.
ELECTION OF OFFICERS,
The board OF directors at d later meeting
elected Sidney Dillon, president; Elisha
Atkins, vice president; Henry Mcfarland,
secretary and treasurer; o. w. Mink, assist
ant secretary aud t.eaeurcr.
n FINANCES OF TIE ROAD.
The report, OF the directors Of the Un-
ion Pacific for the year ending Decent Der
81, 1878, shows the number of miles of
railroad IN operation to be l.042. 9 S; gross
earning, including the Omaha nridse, Sl3,
12l,212; operating EXPENSES, including
taxes, 1881 ~ 5S6, lcavin. IA balance of ST.
144, 1886. wn, ch added To interest COLLECTED
on the Investment nj securities uu,n1riinr
to $lS6 $50, make "a total net inc mi. OF
SI,93l.6 Opetat w expenses. Az :9S per
ecu. Of lie earnings; disbursements Oh nc
couh, OF interest on bonds and disideads
amounting to 6 per Cen! sluklpg tun,i, SC
S6,G23,S9O. leaving a surplus Tor iulnrc use
of $l.3O7, 7Sl A reduction Of SG3S,uU
on h. FUNDED debt, leaves the amount of
$50. 1873 900. Inc earnings and.exuenscs OIL
1877 and 1873 CON oared snuNtv /, b !,
in the latter year an increase in earnings
and a decrease Of expenses, the increase
in surplus earnings being S3AS,3O2,
and the decrease in per centage Of expenses
1:9o. There was a decrease in earnings of
S4Sl, 800 on through business. In local
travel there has been an average increase of
2,25S.l3l miles the increase in freight
earnings. SOCIAL, largely derived from
local business. Stock business continues to
Increase; The present length Of road laid
with steel rails is 2S3 miles. Fifteen thons-
and tons Of steel rails have been contracted
for, to be used during the present year, and
steel. rails will be substituted for iron as fast
as the tracks need renewal.
The Omaha & Republican Valley, rail-
road has been extended 1877 miles during
the year, and will be extended ten miles
further. The Utah & Northern road was
extended 100 miles, making a total length
of 1879 miles from Ogden to the northern
terminus.
The questions between the government and
the company are fast being determined.
The result Of what IL known asthe FIVE perl
cent. basis, as follows: Due the government
to December 81, 1873, s2,S72,4s6; due
from the government in passenger fares, (the
amount withheld pending determination Of
the question at issue) S~3,145,4l9 balance
due the company S77l,9S3.
After several years of uncertainty and legal
contests with the government as 10 the con-
struction of the positions Of the government
and company, under the contract of the gov.
eminent with the company, the United
States supreme court has made several de-
%cisions, setting forth fully the relations Of
both, and settling finally these questions.
The decisions in most cases have been in !
favor of the company, and it is to be con.
graduated that il may now stand upon these
decisions and know for all time what its Oh
legations are.
WASHINGTON.