New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1880-12-05

wfsr-wHAT THE GREAT OVERLAND LINES ARE
DOING.
laENERAL PRESS pIsPATCu.l
WASHINGTON, Dec 1.-The annual report OF
Theouh ID. French Government Auditor of Railroad
Accounts was made public to-day. lie remarks at the
outset: -
Il f. gratifying to he able 70 that during nc las,
ve,r md cniifin Of an raj road property IN tic Un'1
stale h,k hecu much improved more espec"ih 'at a.,
the raro d N1s; OF he MlSsissiPpi or ote raj.
more gratA 10 be ahle 10 sA' ~ IT,, . ,,rt,o mn
roads wing thc Mississippi the mos 'nathIn
proven NJ nis been on tgr srsas I"n, J If when nc
Tinted : ~ G ycrIDct Is creditor 10 tuc ai"ouU
Iatss n We been reduced. has given larger earhnss
when I'M inrn nave enabled Ocrd expenditures 10 Dc
fes sGViaacc OF travelling public ana shippers as
wen as o. toe properties themselves ,., ,..o
The principal properties Included IN 'he Speea' ihspoo
tons ma c this year nv Auditor French and A. H. Nlch
OILS the raoad Of ms office are those OF the
Union Pacific. Central Pacific, Southern Pachc Alah"e
aud Pacific and N,rthern Pacific Railroad Companies
ana Of lines connecting herewith, aggregaung oNc'
O. 600 miles Of railroad. Mr.. French says
At no urevous in the history OF these great en-,
terprises has The value of tue topefes been so
OF have their prospects been so COCO LOT % ni
thor ownors paving their debts ana serving the P'oPo
better ana more ch,apy'
The Aui Tor after referring to the prosperity OF inc
roads IN which the Government is INT rested as creator
or grantor presents interesting statistics OF tue
conucd improvement the business OF the railroads
Of the United states rs whole SUMMARIZING 'noSe
statistics b says: -
The gross earnings of neatly all the railroads III inc
United states snow an Increase OF SlDoOoooV OF aDont
per ocn, the WORKING expenses snow an ncfease oi
s7,50oc0O about 2i9 PC c.nt and me me- eg ~,
while increased mile gc has been nou per cent
or nearly 400 miles. noticeable feature OF this IN,
crease Of business In the yea 1879 Is mar occuleu
nearly altogether the railroads o me lde WeSl
err SOUTHWESTERN states the business OF ih1se III 'e
Pacific Nca England ana Southern states not having
materially improved.
EASTERN AND WESTERN ROADS COMPARED.
The Auditor also presents comparative statement OF
the business of number OF raj roads east OF the
bississppi. and comparative statement oil oiher ran
roads wholly OF partially west Of The Mississippi aGgre
eating about 900 miles oach, from which no deduces
tho following information:
Frsf-That So he the ratio OF operating expenses to
sr,ss earnings on these Western roads, say 81 per
cent ami the Eastern roads 62 per cent the EaScr
roads hay" don, three times as much "ofS a' Tue "oS'
'' SeSoTd1raai both tne.c Eastern and western rail
roads have reduced their rate per Tn per nile Ia per
cent snd passenger rates about Z per cent on an
L,rdr}ai the average travel. both Of freight and
pass,ngcr the Western IL nearly double that ON the
tourfh-fnnt the average ton per ue on the
Eastern down To the very low prce OF less man
nne zenith at cent and the rate per passenger per WIie
THS resp.ciye financial conditions OF the various
Pacific railroad companies. all cXmOited by Auditor
Frrueh with great mnltencss. aud the results OF inc
onial Inspection Of their roads, rolling stock ana an ,h
also sci form IN dei ~ Inc 3tal receipts ol ,n9
Union Pacific Riilroad COMPANY Tor the wear 1naou
Sii lgS 10 II The assets Of The company on June
30 are ere PoG o 10 haSf ar ihai
date are icpor al sI99 967 100 30, showing surplus
%tsS Of Gr,nc, and feeding lines. which added to the
1873 miles OF main property. gives 430o mics owned
and cont oiled. although not all operacd by tho com
pnny ta,re Is any way by which these branch prop
critics could be merged IN or consoa"tea a ",n re
event or contingency the main property could not oe
The tci receipts 81 the Central Pacific Company for
the wear eudcdJuuc 30 1880 were SlS73lo71 81 total
taI Pac,nc Company on Jun 30. 1880 reported rs
amounting sl7i196.290 % and the assets are re-
@IG -,Ol- "A
s rUr,f III, a i ri II ;,, SIG 81 "
From statements gwen showing financial condition
OF The older two subsidized Pacific Railroad Companies
1t appears That the following deficits IN dneom or
senIrai Branch. Union Pacific Sl.o9937G 80; Sioux
CITY and Pacific, Sl.0Sl go 10 Contrasting those de'
Bcis and nat q, the Central PaCihc Ooinpany WIN tne
1874 730 30 surplus of the Union fic'hc COMPANY
AS or na s6 Gs sso rra wa. in dcndon to
pay debt which 1t owes the Government rs
Cal stock" lie adds The statements OF
naee Of the companies &C contain Ws d, a., nm
principal of the United States subsidy bonds TINS
fSr moinri OF the bonds ranglur from 1895 1899
aud the surplus and deficits named are based uPon mo
smoan,s icr eaca company June 80. $50. as fol-
Union Pacific '99 o W % 80
Cen,r1i Branch. Union Pacihc....... I2eI sos 20
sioux city aud Pacific llHI'' ~
Total. .sl7. $50 SCI 30
In ADDITION TINS large amount of interest already
paid by The United States less the amount retained ana
and the several companies are responsible for the
ssT in5ss i at e per year! amounting
20 nearly 100000 In regard to inc oentiS
which owned By tho Union Pacihc Company
' The business Of the road for the past year has
largely Increased over that Of years and If
creis good during the coming year sill better re-
The Auditor reports detail the dsposition Of the
amounts received from the Pacific Railroad Conpanies
under the requirements OF the Thurman SINKING Fuhu
Law % per cent OF their net earnings
THE NEw PACIFIC ROUTE.
In regard 10 the new overland via exico
and probable business OF Che old Pacific
Roads the auditor says: The Aichison, Topeka and
sapta Fe Railroad Company advertses the opening of
this new overland to the Pacific as koly 10 take
place on or about January l, 1881. The RIO Mmbres
has reached by the Southern Pacific graders and
the Wi be open for operation 10 that point
Topeka and Santa Re track has been laid TO point 10
miles south Of Aeu9nspqne on Inc iS Gfan6e: ha
100 miles. will be lad by the two companies and
Spenine Of Inns new route l. pregnant with important
questions. all OF watch cannot now be discussed II
IN the strife the old route would have moth
;ns 70 fear mr. lon me s sven poue s m "T"
the OF 432 miles in distance betwecn Chicago aud
IN the d'.cance. san Francisco from st Louis and
Kansas CIV. Mr.. French continues; " Distance Ia
fhese adds to cost aud reduces profits
But asIde from that the operating expenses OF the main
line Of me cd roae are much o%T coi Ir"p y TO
ger and per per mile than thet cav ever I've on the
Try with little local business ana o scarcity or both
water and fuel true, without Obstruction from snow,
but often DISTRACTED IN other ways
Auditor French speculaes the toss which the open
ing OF the new route may cause III the transportation
business Of The Union Pacific Railroad, AMI considers
the proposed consolidation OF t1c Central ana Union
Pacific system OF Notwithstanding the Southern
Pacific He says that the charter act authorizes such
be made n the choose 10 do
90, and that IL may be advisable.
CERTAIN LEASES INVALID.
Auditor French says: The charter acts OF the
eral Pacific railroad cOmpan esUniOn Pacific Northern
Pacific Atlantic and Pacific and Texas and Pacihc-do
not give any authority power 10 lease