St. Landry democrat. (Opelousas, La.) 1878-1894, 1882-12-23
q. S. Railroad Commissioners Report.


WASHINGTON, December TO-
in the annual report of the Comm ssioner OF
Railroads for the fiscal year endel June TO-
1882. the Commissioner says:
The unprece lent construction of railroa Is
the present year deserves very thoughtfnE
consideration. The Pacific companies are
rapidly extending their lines to secure tho
trade in rapidly-developing 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 cent.
OF the net earnings, and sinking fund and it's.
requirements, derived from transportation re-
ceipts, will be SIG, 80i,G4i. The total cash pay
ments to December 81, 1881, required from the
companies in addition to the retention OF the
entire compen sation for services are: Cen
trail Pacific, 81 ,2S2 664; Central Branch Union
Pacific, Sl,95}; Union Pacific, $a01.S}T; total,
W, lS1,454. The total Indebtedness of tho
several subsidized Pacific railroads to the
United States June 3d. IS 2,was: Union Pacf,,
principal, S,3, 539,5l2; accrued interest, $50
0s0,99S total, $685. 620,5i0; Central Pacific pritl-
cipal, So, s556sO accrued interest. ss4.as5 1888;
total, ST. no, Sl3: Sioux City s. Pacific. prinei-
paSlt 2i,52); accrued interest 81 4i5, l4T; total
Ss,043, 1871: Central Branch Union Pacific, prin-
cipal, S1,t0),0J0; accrued interest, S1,5ll, D2i:
total, S3,l0l.S0S.26. Transportation SERVICES
performed and money paid into the Treasury:
Union Pacific, Sl236l,60}; Central Pacific,
S6,00t.6 65: Sioux City s. Pacific, $95,2Ts: Gen.
trail Branch Union Pacific, $13l,5ct; total SIS
592, 10. Balance in favor of the United States.
but not due until maturity Principal 1875,
1899, $l03,3l4,!S6. The sinking-tund accounts
amount, June 80, to S22,7l6,2.s2l The Commits
sioner says:
.
the result anticipated, and since Ap il, 1881,
may be regarded as having practically failed
for want of suitable investment. In view of
the low rate of interest returned from tae
investments made by the Secretary of the,
Treasury, deem it my duty to recommend!
that Sec. 8. act of May 7, 1878 be amended so as,
to authorize the Secretary of the Treasury TO.
invest the hiking funds in frst-mortgage
bonds of the companies, or such bonds as have.
been issued to them by the United States, Or
in other good and sufficient secur ties, and
convert the bonds now held by the United
States in said sinking funds into money at
market rates, and invest the same in like Sc.
curities. AS many doubts have been expressed
as to the ability of the companies to NEST their
Indebtedness at maturity. and as to the eif--
cheney of the provisions for the sinking fund.-
deem it proper to suggest whether it may
the consent Of the companies, to change the
form of their Indebtedness from a running
book account into settlement and actual de-
livery of Understanding bonds for the
amount found to be due on convenient day.
say July !, 1883, at which time one-haf OF the
interest will have been paid by the United
States; let the ascertained amount be divided
into. say, one hundred sem-annual Install
ments, each to be represented by a redemp-
ton bond. one payable each six months, with
interest upon the whole unpaid remaindero of
the debt, the lien to remain as it is.
The report says:
"The adjustment of railroad rates is one of
the most difficult and deliclte questions of
modern mes, and it IS specially com pllcated
in the United States; where every trunk line
runs through several States, each independent
within its own jurisdiction, and jealous of NH
interference by the General Government. The.
enormous extent of this interest and the ra-
pid.ty of its growth, both in increase of miie-
age and tonnage, demands that its relation tn
the public shall be under some judicious legal
control Rates and Determinations are not en-
tirely within the arbitrary determination of
the railroad companies. They are subject to
competitions which they cannot control upon
the ocean, upon the lakes aud upon the rivefs
The great lakes and rivers, SO peculia ~ adj
vantageousy located as to trade, with their
numerous far-reaehing and Widely-extanded
nayigable tributaries, carry water compe-
the country, with the effect of 50 reducing
general rates that the United States enjoys
the cheapest railroad transportation in the
VI.
cation for the adjustment OF rates and discrItn-
nations has been found, and it is undenabe
that there are hardships. neither few nor
small, arising from existing determinations,
often arbitrarily imposed, which affect aisas-
trously local trade at DOn-competing points.
There is a growing and clamorous demand
among the people that railroad management
I shall be subjected to the restraints OF law:
nor is railroad management adverse to reaf
sOnable control. 1t has become necessity
that wars OF rates shall be controlled in the
interests of the people and the roads. Suhh
wars unsettle, within their operation. com
mercial values, affording sudden and unreal
sonabe profits to the few and entailing heavy
losses upon the 9th rs.
1.-The Railway Commissioners appointed in
twenty. one States,' = the report continues, " eX-
ercise a healthful influence Overrailroad man
ngement. But railroad transportation strictly
confined within State jurisdiction is 50 limited
hat it leaves the real difficulties unsolved and
nearly unaffected. The power of Congress
sver the whole subject can hardly be ques-
tioned. The Supreme Court OF 1llino con
cedes it, and the decisions of the Supreme
Court of the United States seem to render 1t
indisputabe. A commission is recomm ended
to take into consideration the whole question:
and report to Congress facts necessary for i'm
telligent and efficient action upon the subject"
The Commissioner speaks of the unnecessa-
ry and DANGEROUS dissimilarity of railway sig
nails and recommends the adoption of q Uni
form system. A review in detail of the opera
lions of the Pacific roads mentioned closes the
report. The estimate of the expenses of the
railroad Office the next fiscal year is S2O,00O.