The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1884-01-25
UNION PACIFIC.
A Good Showing for the Year.

A Good Showing for the Year.
New York, M.-The annusl report of
the government directors of the Union
Pacific railway was transmitted yester-
dsy to the Secretary Of the Interior. Re-
ferring to the fact that the management
has heretofore been reluctant 10 furnish
information in regard to the conduct Of
its affairs, the directors state that they
found no such unwillingness the past
year. Except in the single instance OF
"Tripsrtite alliance" was any attempt
to the Secretary shown. The directors de-
clare this was by far the most important
transaction Of the year. Competition
on through traffic TO which the company
has been subjected by rival rosds which
practically parallel the main line of the
| Union Pacific from Omaha to Ogden,
cutting rates 10 ruinous figures
between these points. while dividing un>
der q pool arrangement with Iowa roads
the profitable traffic between Omaha
and Chicago, forced the Union Pacific
TO enter int an alliance offensive and de-
fensive with such other roads as would
partically extend their lines to Chicago.
and give it a fighting chance against its
rivals. The directors first voted not to
ratlfy the contract until the terms were
made known. The terms of the tlipsr~
tite sgreement were generally stated on
Decem Der 9th, 1883. by which the roads
mutually agreed to share through traffic
on the basis of fixed percentages. The
directors voted to rstify on December
Goth, being advised that il in no way
conflicted with the character of the com
psny, and the general manager
was instructed to take all proper
N easures to induce roads eonverg-
ing ct Omaha to come into
The agreement on similar terms as the
first two roads named. The directors of |
the Union Pacific railroad report that |
they have not been advised OF the action |
of other roads, but expressed the hope !
that an agreement will be reached be- |
tween all western roads to prevent the
cutting of rates and the general democrat
ization of values. The funded debt of
the company, after deducting the bonds
held in trust aad bonds in the sinking
fund, on June 30th, 1882, was SS2, sos,
O59, and on June 30th, 1888, SS3. 947, $50, |
showing an increase OF 81, 439. 926. The
investment account shows the amount Of
stocks, bonds and other securities held as
investments, is $69, 933 4S0, face value |
from which the company derived an in,
come during the year of So, III, 963, and |
from other investment accounts was re. |
ceiyed 500, 1913, making the total 81.
28l,756. The floating debt statement
shows the total debt, under the United |
States railroad commissioners views, on
June 80, 1882, WAS SO, 754 1872, and on |
June 30, 1888. $S.19s, 249; under the
company's view, on June 80, 1887, it was
SIS .368, 5s8; June 80, 1883, IS S54, 491.
The total resources in 1882 were SO, 592,
SIS; in 1883, SO, .946. The floating
debt, under the compsny's view, was re.
duced 81, 524, 097, while the offsets, under
the same view, we're diminished only
1908, 500; net reduction, So, $40, 228. This
revision, the directors ssy, was Effected
by pursuing the policy recommended in
their last report.
The policy Of strengthening the road
by extending aid to all branch roads to
be operated as feeding lines and consti-
tuting single system, has been pursued.
Some of these roads, which were operst-
ed at loss in 1872. show large profits the
last year. The increase in earnings of all
trunk roads is gradual but constant, and
gives great promise for the future. The
Oregon Short Line, which was intended
to connect with the Oregon Railway and
Co., has been considerably
extended the past year. The CORE
spondence with Willard resulted in
contract by the Oregon Navigation
company to build q connection with the
Short Line route, is given in the report,
and there is no doubt that the contract
will be carried out. The earnings and
expenses Of the road and operated lines
Tor ten months ended October 31st, 1883,
were: Esrnings-Union Pacific railway,
s17, 434, 9O7; all other branches, $751;
l5O; total, S24,622, 057; expenses-Union
Pacific railway. IS 344, 925; all other
branches, S4,S05. 472; total, S13, 23O, 399.
Surplus earnings-Union Pacific rail-
wav. S9,089, $50; all other branches,
%, 3Ol, 67l; total, sll,39I,65n. This ,
shows decrease in the total surplus Of
earnings during the corresponding
lime OF last year OF $685., $50.
Owing to the improved condition
,fthe road and equipment; the decrease
n running expenses has been much
anger proportionstely than the falling off
n The earnings. Number of miles of read
q operation, $40. Stating briefly, the
eport says: ''Is may be said that the
opening up Of competing lines had the
fleet of depriving Us OF the growth in
business increase, and earnings which we
would have had if these lines had not
been opened, but thst had not deprived
Is of anything we had before such other
ines opened"