Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1885-12-10
Domestic News.
A Statement of the Indebted
ness of the Pacific Roads
to the Government.
The U. 2. Authorities will Pro-
test Against the e. S. Com
missiOner's New Orders.
The Pacific Roads.

REPORT OF THEIR INDEBTEDNESS TO
THE UNITED STATES NEW LAWS RE
COMMENDED.
WASHINGTON, Dec. 5.--The annua,
report of the commissioner of rail
roads, made public to-lay, shows that
the sinking funds of the Union and
Central Pacific railroad com panies.
held by the treasurer of the Uuited
States, under the act of Nav z, 1878,
amounted to IS, $50, S07, On June
30, 1885, the Unlon Pacific had to its
credit IS 522 343. and the Central Pa
ciic So 058 ass. The premiums paid
on account of investments for the
Union Pacific amounted to $3.50, 795.
while the interest on its sinking fund
investments amounted to 1910 53S.
In the seven years since 1878
only the sum of IS $50, S07 has been
paid into the sinking fund, which
has produced an interest OF but $437,-
524 This proves, in the commissioners
opinion, that the law of 1878 cannot
accomplish the object intended, that
of furnishing a SUM sufficient to pay
the debts due from the Pacific railroad
companies to the United States. 1t is
therefore suggested that it might be
alike advantageous 10 the government
and to the companies to substitute for
the present law one fixing an annual
or semi annual payment by the com
panies concerned, which should ex-
tinguish their debts to the government
in reasonable time, as proposed by
the two bills introduced in the senate
last year by Senator Hoar.
The total debt of the railroad con-
panies on June 30, 1885, WAS $751;
600, 426, made up as follows: Union
Pacific Gpcluding Kansas Pacific,
principal. $33 $50, 512; accrued inter-
est, $35 Ill 924; total debt, SOS 651,-
436. Central Pacific Qncluding West
ern Pacific, principal, $27 855 $50;
accrued interest, 500 1853 485; total
debt, $50 319, 165 Sioux City & Pa
cific, principal. 81, 623 800 accrued in
terest, 1859, sos; total, $3,58S obs
Central branch Union Pacific, prin
cipal, 81, col 600; accrued in
terest, $1,741, SOC; total, SO 1878,
The total credits were $28 973, OO1,
made up as follows: Ualon Pacific
$40 737, $50: Central Pacii &c, IS $780,,
298; Sioux CITY & Pac tic, S17S $50;
Central branch Onion Pacific, 1926
673. The balance in favor Of the
United States, but not due until ma
turity of principal, is 1902 627, 425.
made up as follows: Due from Union
Pacific, $48 914 056; from Central
Pacific. $47 488 ST.; from Sioux City
Sc Pacific. So, 100 356; from Central
branch Union Pacific, So, lis, 1S4
The excess Of interest paid
by the United States, after
crediling amounts reimbursed by the
several companies, were as follows:
Paid on account Union Pacific, $685.
1l6 924; on account Central Pacific
1923 463, ASS; on account Sioux City &
Pacific 81 $50 695; on account Central
branch Union Pacific, $1,74l, 500 or
a total of $66 $40, 912, which, ter de-
Quoting credits, leaves the excess of
interests paid by the United States,
S36, 003, Oil.
The commissioner points to the fact
that more than 800, 900, 900, credite d
to the Pacific roads, now lies idle in
treasury, a judicious investment of
which would be of great benefit to
those concerned. He therefore rec
ommends that the attention Of con
gress be called TO the matter. He also
suggests that the Kansas Pacific, Sioux
City and Pacific and the Central
branch of the Union Pacific be in
cluGed in the provisions of the law of
May z, 1878, creating sinking funds
for the Pacific roads.
n WI
TEST.
Boston, Dec. 5.-The Union Pacific
people here say they have not yet re
ceived any formal notification of the
United States commissioners new or
der requiring more complete and more
frequent returns. They claim, how
ever, that its enforcement would en-
tail upon them the necessity of large
ly increasing their clerical force, and,
in fact, it would be impossible TO
comply with some of the require
ments laid down. They question
the right of the government to
demand statement of the earnings
of their branch lines. as these are IN
no sence subject to or affected by the
government loans. AS to ten days
notice to stockholders of all business
to be transacted, they say that this
too cannot be strictly complied with,
as not infrequently matters come
up within half an hour Of such
meetings, which demand immediate
attention at TIE hands Of stockholders.
In these and other particulars they
are disposed to regard the order as un-
reasonable and uncalled for. While
they have not as yet decided upon the
course they will adopt, it is very evil
dent that they do not propose to com
ply with it without protest