Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1884-09-18
THE BUSINESS WORLD.
An Attachment Against the Proprie-
tors Of the Mississippi Valley
Bank of Vicksburg.
The Wages Of Five Thousand Iron
Workers to Be Reduced from 10
TO 20 per Cent,
The Women Organize Tin Pan Bri
gade and Participate in the
Coal Miners Strike.
rur uN1oN pAc1rIc HALFWAY.

NNAON II
NEW YORK, Sept. l7.-At the quar-
terly meeting Of the directors of the
Union Pacific railway this afternoon
President Adams presented a report,
of which the following is a summary:
To the Directors OF the Union Pacific Rail-
road Company:
Gentlemen-In view of the many unau-
thorized statements which have been put
forth, both publicly and privately, in regard
to the financial outcome Of the operations
OF the Union Pacific system during the past
year, II seems advisable 10 submit
something authentic. have accordingly
caused the following statement for the year
ending June 30 last to be prepared. The
period covered includes the last half of the
cOmpsny's fiscal year OF 1883 and the nfst
half of 1881. This period was one Of general
railroad depression The depression was
more especially felt by the Union Pacific
syhtem owing TO the construction OF compel
The influence OF this new construction ana
Of the complication which grew out of II has
not yet ceased. The twelve months In
question covered, therefore, as uniavor-
tenn - likely TO pass through.
IL Will, nevertheless, be observed
that during this most exceptional period,
after paying every fixed charge, including
he requirements OF the company's sinking
fnnds and all liabilities to the government,
the surplus income OF the system applicable
10 dividends amounted to b.2 per cent upon
the company's capital stock.
The earnings exc uding tho ST. Joseph 4
Westerly were s4005I.4Si
The expenses excluding the st. Joseph 4
westerly were Slb. fs27Ol.
The taxes Excluding the ST. Joseph &
We>ternl were Ss22,552
The surplus earnings of the entire system
were SiJ,ia2,2O.
Ths income from Investments outside Of
the system WAS s6l88i7
Expenditures, T,G6,2lS, which, deduc ed
from surplus earnings and income, leave
si,db,62s deduct the United States require
ments ana add the amount received from
lhe trustees under the Kansas Pacific con-
GolidRted mortgage on the interest account
ana balance OF aSE9I0i, applicable 10 the
dividends, remains.
The liked charges OF the Union Pacific sys.
tenn, including an estimated allowance for
taxes aud payments to the United states
under the provisions OF the Thurman act,
amount To S33,WO per month. During July,
therefore tine latest for which returns have
been received, the net Income OF the
company, over ana above all fixed charges,
was at "A rate OF moro than twelve per cent
per annum on the company's capital stock
! llt Is proper TO add that the earnings or the
summer months are always much larger
thhh those OF the winter. Those of the sec
ond half Of the year are generally about 70
per cent more than those of the first half
me me oregon short Liue viii be complete to
huntington, the agreed point of connection
with the oregon Railway and Navigation
cOmpany's road, by october Is. By Novem.
per connection win be effected. There is
every reason TO believe that this will imme-
ulHtely result IN large Increase OF traffic,
both To the Oregon Short Line and Union Pa .
enc, Tue latter VIII thus he relieved of the
heaNy hnaucial burden which IL has been
forced 10 carry much longer than was antic-
The land sales have been larg r than ever
before and, deducting the cancellations,
amounted 70 400 acres, for which S5,g7S,,
isG was received. 1890
President Adams thinks that theexpendi-
ture on accouAt OF the Nevada Central rail.
ROAD should be stopped II such payments
were delaulled no Injury could occur to the
Union Pacinc beyond the possible loss OF
properly which Is of no apparent service 10
u me resignation OF the second vice-presi.
uent ana gene al manager, 4. IL. Clark, and
ils acceptance by the executive committee
Is nnally touched upon with the recommen-
cation nsa thal M. Clark be employed in some