The Bolivar bulletin. [volume] (Bolivar, Hardeman County, Tenn.) 1865-1888, 1882-12-21
7. S. Railroad Commissioners Report.
WAsHINaroN, December 10.

WAsHINGFON, December 10.
In the annual report of the Commissioner OF
Railroads for the fiscal year cnde1 june ~
1882, the Commissioner says:
As a rule the accounts Of roads are kept in
thoroughly comprehensive aud business-ike
manner. Members of the bureau made extern
sive trips this year to inspect the vast proper
ties of the numerous bonded and Immigrant
rail oads coming within its jurisdiction De-
cidedly E6althy Improvement in construction,
operation end business is manifested. Steel
rails are substituted for iron as rapidly as
practicable more ties to the mile and OF
superior quality, better fasteu 'ngs and good
ballast being used. Bridges and buildings are
not only being repaired and renewed, but gen
orally improved or replaced with better ones,
Embankments and cuts are being widened,
grades and curvatures reducel and general
improvements made as far practicable.
The best locomotives are used and improved
| passenger and freight cars purchased or built
The unprecedenU construction of railroads
/ the present year deserves very thOughtful
consideration. The Pacific companies are
/ rapidly extending their lines to secure the
! trade in rapidly ly-develOpng sec ions, or make
/ through connections with important distribut-
| ing points which will ultimately be of great
value to the main lines. The money applicable
! to the repayment of interest, five per ceht
of the net earnings, and sinking fund and its
| requirements derived from transportation re-
/ ceipts will be eS0i,GH. The total cash pay
| ments to December 81, 1881, required from the
| companies, in addition TO the retention of the
entire compensation for services are: Cen
traI Pacific, 5 ,2S2, ,664; Central Branch Union
| Pacific, 1885,; Union Pacific S901,S37i total,
81, ,ISj,454. The total Indebtedness of the
several subsidized Pacific railroads to the
United States June 30, 18e2,was: Union Pa6ihc'
principal S}3539,5l2; accrued interest, S3O,'
$50 99s; total S63, ,6205iO; Central Pacific, prln-
cipai ST. $50; accrued interest, $24 4,2S5 1873;
4,roI Ip- & Pacific nTnCi'
pal 81 G2 $50; accrued interest,Sl 4i5, Az; total
S3.0E3 16T; Central Branch Union Pacific, prin
cipaI, 81 6Ol0]0; accrued interest, Sl,59l, $40;
tottI, S3,I0LS0s.26. Transportation services
performed and money paid into the Treasury
Union Pacific, S1236lGO}; Central Pacific
$780, 6s5; Sioux City s. Pacific S9527Si Cen
I trail Branch Union Pacific, Sl31,5 total SIS,
592, ,I0'. Balance in favor of the United states
but not due until maturity: Principal, 1925
1899, SI0},3l4,3S6. The s.nking-fund accounts
amount June 30, to 81, 7l6,22l. The Commls
siOner says:
This fund has evidently not accomplished
the result anticipated, and since April, 1881
, may be regarded as having practically faile'
for want of suitable Investment. In view o
the low rate of interest returned from th
! Investments made by the Secretary of tn
Treasury, deem it my duty 10 recommen
that Sec. 3, act of May Z, 1873 be amended so a
to authorize the Secretary of the treasury L
e. ! invest the sinking funds in trSt-nOrtgaR
= bOUQS OF the Qpdl1i6S, OF bOIllS uS iAtt
| been issued to them by the Unlted StaIes' O
) in other good and sufficient secur ties, an
: convert the bonds now held by the Unite
: States in said sinking funds into money
- market rates, and invest the same IN IKE $
Y curfties AS many doubts have been expresse
r as to the ability of the companies 70 me Ihe
Indebtedness at IN tttrity, and as to the Ell
cheney of the provisions Tor the SINKING luh, uh,
s. deem it proper to suggest whether II ma
, not be profitable and highly desirable, vii
= the consent of the companies, to change II
q form of their Indebtedness from n runnlI
+ book account into settlement and actual q
l. livery of interest-bearing bonds for u
a amount found to be due on a convenient da
= say .Jttlv /, 1888, at which time One-half of Il
y interest will have been paid by the nt'
r States: let the asCertaiued amount be diVid'
" into say, one hundred sCmi-annual tnsta
y ton bond one payable each six months, wi
- interest upon the whole unpaid remainder
le the debt the lien to remain as 1t is
TX The report says:
as 1.-THE adjustment of railroad rates is one
ne the most difficult and delicate questions
n modern tines, and it s specially compicat
Oh in the United States, where every trunk II
" runs through several states, eacn lhdepehqe
ed within its own jurisdiction, and Jealous OF
er interference by the General Government. i
"a enormous extent of this interest and the
Z / pidltv OF It's growth both in increase of mi
age and tonnage. demands that It's relation
q t6e public shall be under some judIcious les
on | control Rates and determinations are not
er tirely within the arbitrary determination
Sh conDetitiOns which they cannot control up
ne the ocean. upon the lakes and upon the rive
nj The great lakes and rivers so peculiarly
sss | vantageOusly located as to trade, with tn
-, numerous far-rcachinG and widely-cXt0nd
10 naVigable tributaries, carry water com
lc- titiOn into almost every portion
bis the country, with the effect of 50 reducl
al general rates that the United States ENC
-, the cheapest railroad transportation IN
rI9 world. AS yet no just basis of general apl
Lde cation for the adjustment of rates and discrl
Mt nations has been found, and it is undenia
,da that there are hardships, neither few J
-, / small, arising from existing dIscrlmnallO
'cH often arbitrarily imposed, which AFFECT diS
at tr0usly local trade at DOn-COmpct1ng pOiI
ac- There is a growing and clamOrOuS dema
-ed among the people that railroad manaEem
- | shall be subjected to the restraints of lf
'iIu nor is railroad manage emeut adverse to I
lde sOnable control. 1t has become necess
lde that wars OF rates shall be controlled in
interests of the people and the roads. ~
So. wars uusettle, within their operation O.
rs mercial values, afTording sudden and UNI
Il sonable profits TO the few and entailng hei
~ losses upon the others.
", - The Railway Commissioners appointed
Hes tEenty-oue States the report continues, "
tCI ercise hcalthfui influence over railroad IN
ms agement But railroad transportation slrll
ao confined within State jurisdiction is so lim
7lo that it leaves the real difficulties uuSOlVcd
Fus nearly unaffected. The power Of Congl
NJ ~ over the whole subject can hardly DC ql
1eu toned. The Supreme Court OF llllnO.
zen cedes il, and the decisions of the SuprC
Court of the United states seem 10 rende
I9SI- indisputable. commission IS recommen n
u, to take into consideration the whole quest
OK and reUOrt to Congress facts necessary tOl
tcIliuent and efficient action upon the SuDJe
The Commissioner speaks of the unnece
PS. ~ and dangerous dissimilartty OF railway
nails and recommends the adoption Of
- fions of the Pacific roads mentioned closes
H'h Tho pgiimpte of the expenses OF