The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1884-09-18
RAILROAD RACKET.
The Western Railway Confer
ence in Chicago.
U: P. QUARTERLY MEETING.
The Nebraska Business = President
Adams Report-Facts and Fig
ures-The Oregon Short
Line.
J: P. QUARTERLY MEETING.
The Railroad Racket.

CHICAGO, September 1.-THE Western
Railway conference held an all morning
session again to-day, but is making
very slight Roadway. The contest is
still over the method of pooling
Nebraska business. At to-day's session
the resolution was again to pool
Nebraska business and leave the matter
OF percentages to arbitrators TO be here
after appointed. To this proposition
an amendment was offered by repre-
sentatives of the Milwaukee & ST. Paul,
to the effect that the question of the
local business of the Union Pacific
should also be left for the decision of
the arbitrators to determine the ques-
ton whether it should not be gwen to
the'tripartite roads exclusively. This
was voted down, the Burlington and
Northwestern voting in the negative.
"A representative of the Darlington
then moved that all Southwestern and
Trans-Missouri be abrogated, abolished
and cease to exist from this date. This
was likewise defeated. At l'e'clock the
session adjourned till 80 this after
noon, with no propositions Sf any kind
before it
The entire afternoon session was
again taken up with the vexed question
of the proper apportionmeglt of the Neb-
raska business, without reaching a re-
suit.
The motion was then renewed to form
a pool on California business, one pool
to be composed of the reads east of the
Missouri river and one of the roads
west of the Missouri River. This was
agreed to unanimously, which was a
concession on the part of the Burling-
ton, which had once refused to consent
to the formation of amy pool until the
Nebraska question was finally disposed
Of
The meeting then adjourned until to-
morrow morning, when an effort Will be
made to decide upon the percentages.
1t was agreed that in case the lines
could not agree upon a proper appor-
tionment the entips question should
be referred to Joseph T. Tucker, as arbi-
TRAITOR, whose finding was to be binding
Tomorrow the Eebraska question
will be taken up, as there appears no
possibility that a Colorado pool can be
formed until the Nebraska question and
the exact attitude of the tripartite is
determined.
Boston, September 17.-At the quar-
terly meeting of the directors of the
Union Pacific Railroad, this afternoon,
which the following is a summary To
the directors of the Union Pacific Rail
rOad-In view of the many unauthor-
lied statements which have been put
forth in regard to The financial outcome
of the operations OF the Union Pacific
system during the past year, it seems
advisable at this 1ilne to submit some
thing authentic 4 have caused the fol-
lowing statement for the year ending
June 30th last to be prepared, the period
covered includes the last half of the
company's fiscal wear of 1888 and the
first half of 1884. This period
was one of general railroad de-
preston, more especially felt by
the Union Pacific system, owing to
the construction efcompeting roads and
the prevalence of war rates. The twelve
months in question covered, therefore, as
unfavorable a period in the Union Pa
cific system as it is likely to pass
through. During this most exceptional
period, after paying every fixed charge.
including requirements of the compa-
ny's sinking funds and all liabilities to
give a surplus income of the system ap-
plicable, the dividends amount to :. %
per cent. upon the company'S capital
stock. The earnings, excluding the st.
Joseph and Western, sec, 957 ,4S4. ex-
penses, excluding the st. Joe and
Western, $s22, $50; surplus earnings
of the entire system, $40, 452 go;
income from investments outside
of the system, $619,617; expendi-
lures, S7,276, 21S, which, deducted from
the surplus earnings and incomes,
leaves So, 795, 62S. Deduct the United
States requirement and add the amount
received from trustees under the Kan
sas Pacific consolidated mortgage on in
terest account, and a balance of $3,179,-
.704 applicable TO dividends remains. The
fixed charges of the Union Pacific sys-
tenn, including the estimated allowance
for taxes and payments to the United
States under the provisions of the Thur
man act, amount to $793, cooper month !;
during July, therefore, the latest for
which returns have been received, the net
income of the company over and above
all fixed charges, was at the rate of
12per cent. per annum on the company's
capital stock. 1t is proper to add that
the net earnings of summer are always
much larger than winter, those of the
second half of the year are generally
about 20 per cent. more than those of the
first half. The Oregon Short Line will
be completed TO Huntington, the agreed
point with the Oregon Railway and
Navigation Co.'S. road by October 18th.
BY November 1st connection will be
effected.