New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-09-18
RAILROAD INTERESTS.
THE STANDING OF THE UNION PACIFIC.
REPORT OF PRESIDENT ADAMs-A FAVORABLE
vIEw-FACrs AND SUGGESTIONS.

The STANDING OF THE UNION PACIFIC.
REPORT OF PRESIDENT ADAMs-A FAVORABLE
vIEw-FACrs AND SUGGESTIONS.
BOSTON, Sept. 17.-At the quarterly meeting
Of the Directors OF the Union Pacific Railroad this after
noon, President Adams presented report Of which the
following is a summary:
To the directors of the Union Pacific Railroad Com
pany
GENI-EMEN: In view OF many unauthorized
ana privately in regard to the financial outcome OF the
year it seems advisable at this time to submit some
thg authentic to the directors and through them TO the
statement for the year ending June 30 last TO
tie prepared. The period covered includes the
Ii hai OF the companys fiscal year. 1888, also the first
nan OF ssl This period Of general railroad de-
Pt,Son-a depression more especially felt by the Union
racine system owing to the construction Of competing
"""S ana ne prevalence OF war or rates Inc lnnl
chccs 81 this new construction and Of the cOmpica-
he twelve months In question covered. therefore,
favorable alpcrod rs the Union Pacific system is likely
alns ms most exceptional period after paying every
hNed charge, including the requirements OF the com
panyS sinking funds and all liabilities to the Govern
ment the surplus income Of the systems applicable to
dividends amounted to 522 per cent upon the companys
Earnings excluding st. Joseph and Westerly, S26957-
go expenses excluding ST. Joseph and Western,
SlOIj2 go 3d. income from Investments outside thc
Sy ,tcIn f6l9,6l7; expenditures S7,2762lS ~, which,
9ccted from the surplus earnings and income leaves
S319562s go. Deduct United States requirements
the Kansas Pacific consolidated mortgage on interest
account. and balance of S3l7970l % applicable to
dividends remains. The fixed charges OF the Union Pa
cine system including estimated allowance for taxes
and payments To the United states under the provisions
or the Thurman act. amount To S793OOO per month
During July. therefore dhc latest for which returns
nave been received, the net income Of the compony
and above all fixed charges the Of than
II percent per aunum ON the companys capital stock
II Is proper to add that the earnings Of the sum
MGR months always much larger than those
OF the winter Those of the second half Of this year
generally about 20 per cent han those Of the first
half The Oregon short Line will be completed To Hunt
mgon. the agreed point Of connection with the oregon
Railway and Navigation Company's road, by
October -. By November | connection
Will he effected. There is every reason
10 believe that this will Immediately result in
large increase of traffic for both the oregon Short Line
and the Urion Pacific The latter viii then he
''9 has beca to n'" capy O %Ss SS@
than anticipated The land sales have been
larger than before and dcductiug cancellations
amounted to l,Sl9,iOO acres for which sl5,273ie was
received.
PrcSilen, Adams thinks that the expenditures on ac-
count Of the Nevada Central Railroad should be stopped.
II such payments allowed to 90 by default injury
could to the Union Pacific beyond the possible loss Of
property which Is of apparent service to it, The
resignation ~ the second ceprcsdcnt and general
manager :. II. H. Clark. and its acceptance 10y the
Executive Committee is finally touched upon with the
ommendation that Mr. Clark be employed III some less
OuCIOu- position.