The semi-weekly miner. [volume] (Butte, Mont.) 1882-1886, 1884-09-20
NIGHT DISPATCHES.
Report ofPrssident Adams of
the u. P.
Narrow Escape Of Governor
Hendricks.
precautions Taken Against
Nihilists.
President Adama' Report.

posroN, Sept. l7.-At the quarterly
aSting of the directors of the Unior
p'sidr nsd railroad this afternoon, Presi
i" i'nt Adams presented a report O.
u1 u"hch the following is summary.
Ia tbe Directors Of tbs Union Pacife
Railroad:
IN view of the many unauthorized
,atements which have been pu,
sr %rtb in regard to the financial out.
ANNE ANNE Of operations of the Union
pacific system during the past year
seems advisable at this time to sub.
nit G something authentic. I have
sn.ed the fol owing statement fol-
tbs ye ar ended June 3OIh last to he
Drprsred. The period covered in.
tIndes the last half of the company's
i.rsl year of 1883 and the first hall
' # 1854. This period was one OF
General railroad depression, more
sDeclally felt 10y the Union Pacific
system owing to the construction of
nmpeting roads and the prevalence
a railroad war rates. The twelve
months in question covered, there
fore. as vorable a period of the
Union Pacific system, as it is
likely TO lass through. Dur
ipg this most exceptional per-
I'D, after paying every fixed
charge, including the requirements
F Of The company's sinking funds, all
he liabilities to give the surplus in
come of the system applicable to
dividends amounted to 5.22 per cent.
upon the conpany's capital stock.
+ The earnings, excluding st. Joseph
tWestern, were $26, ,957 ,484; expen-
ss excluding st. Joseph Il Western,
;j6s2, 7Ol; taxes, excluding st. Jo-
! rph l. Western, $S,225,52; surplus
arnngs OF the entire system, $1O,-
sogO; income from investments
uside of system, $619,617; expendi-
|ures, s. ,276, ,2lS; which, deducted
hom the surplus earnings and in
smes, leaves $3,705.628. Deduct U.
5 requirements and add amount re-
eiyed from trustees under the Kan
& Pacific consolidated mortgage on
interest account and a balance of
|Sl9,7O4 applicative to dividends,
Nmains Of the fixed charges of the
Union Pacific system, including an
|stmated sllo vance for taxes
land payments to the United States
under the provisions of the Thurman
|at to the amount of $793, 600 per
month. During July (the latest for
which returns have been received)
he net income of the company over
and above all fixed charges was at
he rate of more than twelve per cent.
per annum on the company's capital
stock II 10 prnrn" e --A1 tA.-~S Wv
earnings of the summer months are
always much larger than winter, and
those of the second half of the year
are generally about 20 per cent more
than those of the first half. The Ore
gOn Short Line will be completed to
the agreed point with
the Oregon Railway & Navigation
road, by October Is, and
by November | connection will be
Effected. There is every reason to
believe this will immediately result
ina large increase of traffic, both in
the Oregon Short Line and Union
Pacific. The latt r will thus be re-
ieved of heavy financial burden
which it has been forced to carry
much longer than was anticipated.
The land sales have been larger
than ever before and deductinng can
Sllation to the amount of 4,1S9, 400
Of which Sl5, ,273, ,4S6 was received.
President Adams thinks that the ex-
prndlditures on account Of the Ne
ysda Central railroad should be
stopped. If such payments were de-
aulted no injury could occur to the
Cnion Pacific beyond probable loss
|dproperty which is of no apparent
|@rvlce to 1t The resignation OF the
kecOnd vice President and General
Manager S. II. H. Clark and its ac-
eptance by the executive commlttee
Is finally touched upon, with the
leconmenda ton that Mr.. CLARK De
Employed in some less onerous po-
slliON