New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-03-08
RAILROAD NEWS.
ANNUAL MEETING OF THE UNION PACIFIC.
THE PRESIDENTS REPoRT-wHAT HAS BEEN DONE
IN TIE LAST YEAR

ANNUAL MEETING OF THE UNION PACIFIC.
THE PRESIDENTS REPoRT-wHAT HAS BEEN DONE
IN TIE LAST YEAR.
AT the general meeting of the Union Pacific
Hallway Company yesterday, Charles Francis Adams,
jr. and Andrew II, Green were elected directors In
place OF William L. Scott, who recently resigned his
position because OF his connection with the Denver and
Rio Grande road and Thomas T. Eckert, whose duties
as vcepresident and general manager OF the Western
Union Telegraph Company interfered with his position
as director OF the company. The organization Of the
board completed by the reelection of the former
officers.
In the presidents report 1t was stated that
the operating expenses had been reduced
from 5145 per cent in the preceding year to AZ per
cent. This reduction In working expenses was said to
be due to the previous large expenditures steel rails
repairs OF track and improvement OF rolling stock By
these means also train service had been mde
efficient and the convenience OF both passengers and
shippers promoted During the year nearly II 900 tons
OF steel rails laid in renewal Of track The main
line and about one-half of the Kansas division
laid with steel rails Six iron truss bridges have been
built in place of wooden bridges and others In
cess of construction. Ninety pile bridges Of an
aggregate length OF 6150 feet have been built.
Other extensive renewals all the lines have been
made: BY the opening OF new mines and by additional
machinery the output OF coal nearly doubled The
daily production Is 200 tons The incrcasel IN con-
sumption along tho eOmpanys lines has been at the rate
OF Is per cent year The quantity OF GOAL sold during
the year increased ,805 tons, while the cost to
consumers reduced on the average 10 cents ton
The sales OF land amounted tn 393,074 acres at an
average price OF 81 As aore The remsining lands
have yet bean fully surveyed and consequently their
character has not boen determined. large area is
capable OF cultivation without irrigation and many
millions OF acres are valuable for pasturing.
The lines Of connecting railroads were extended during
the $50 miles The oregon Short Line was extended
19l miles to Snoshonea distance of 321 miles from the
point OF connection The Utah and North com.
ploted 70 point where connection ~ill be made with
the Northern Pacific. Other important Itons0ns were
made during the year In general the policy OF the COM
papy In building branch lines has been fully approved,
and the extension OF ourshing towns In Colorado Utah.
Idaho and Montana due largely to this lateral extern
sion. In conclusion the report ssysi
1.-The policy OF securing for the company and Its stock
holders not only the tributary business resulting from
branch nes but all the profits In the construction OF
those lines at their actual cost In cash. economically
expended and also the annual profits OF their operation
and the income from lucrative investments In them has
been FULLY INDICATED In carrying out this policy II has
been necessary I make considerable temporary adj
vances but this has been done without inconvenience
the finances OF the company 80 far these advances
been derived from other than the cash In
bonds resulting from such Investments and in the
possession OF the company unncumbered would remind
such and leave the company the owner or tho
balance OF the bonds and all Of the stocks now In the
treasury"
The earnings OF the company, compared with those OF
the previous year, were!
1881 1882
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