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; soloh
Humphreys. New York Jay Gould. N. Y.
John Sharpe, Salt Lake City;S. s. 81. Clark
Omaha, David Doves, James Kcene, New
York; Wm L. Scott, Erie, Pa T; E H. Ba-
kcr, Boston Fred L. Ames, Boston; An
derson Commock, New York; W. A. II.
Loveland, Golden, COLORADO. The largest
stockhoIder was Jay Gould, who voted 10
his own .righ, upon 1873 200 shares and on
$4,000 shares by proxy. Sidney Dilon holds
27.7O0 shares; Russell Sage 2l,650, and
Oliver Ames $1,000.
ELECTION OF OFFICERS.
The board OF directors at later meeting
elected Sidney Dillon, president; Elisha
Atkins. vice president; Henry Mcfarland,
secretary and treasurer; o. w. Mink, assist
ant secretary aud treasurer.
THE FINANCES OF TIE ROAD.
The report of the directors of the Un-
ion Pacific for the Year ending December
81, 1878, shows the number of miles of
railroad IN operation to be .042 2 5; gross
earning, iuciuding the Omaha tridyt, Sl3,
12l ,212; operating expenses, including
nxes. S5,37G5S6, lcsvin, balance of ST.
144 S96, winch added to interest collected
on the investment OF SECURITIES, amounting
to $lSG9S5, make "a total net inc ',np OF
S1,93lGi OpeIatng expenses. 4U :9S per
ecu, "t :ne earnings; disbursements "n &C
count of interest on bonds and div ldends
amounting to 6 per cen!. sluking ,tun,, SC.
S6,G23,SDO. leaving a surplus Tor iuinrc use
Of Sl.3O7,7Sl A reduction of SG3S 900
on h: funded debt, leaves The amount OF
$50 lSS 900. Tne earnings and EXPENSES Of
1877 and 1873 ~con osred snow sth.,
in the latter year an increase in earnings
and decrease Of expenses, the increase
in surplus earnings being S3AS,3O2,
and the decrease in per centage Of expeu.es
100 There was a decrease in earnings of
$4Sl, 1903 on through business. In local
travel there has been an average increase of
2,25S.l31 miles; the increase in freight
earnings S505, ,l4l, largely derived from
local business. Stock business continues to
increase: The present length of road laid
with steel rails is 2S3 miles. Fifteen thous-
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 1S9 miles from Ogden to the northern
terminus.
The questions between the government and
the company are fast being determined.
The result Of fwhat is known as the FIVE per
cent. basis, as follows: Due the government
to December 81, 1873, S2,S72,436 due
from the government in passenger fares, (the
amount withheld pending determination Of
the question at issue) S3,145,4l9 !; balance
due the company S77l,9S3. ..tA
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-
ciaions, 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 staud upon these
decisions and know for all time what its Oh
legations are. :" 7a'f