Daily Kennebec journal., 1885-01-05
ANNUAL REPORT
OF the Commissioner of Railroads to the
Secretary Of the Interior.
WASHINGTON. Ian. g

WASHINGTON, Jan. D
The annual report of the commissioner of
railroads to the secretary Of the interior has
been printed, and in addition to the synop-
tical report presented to the secretary in
November last, contains number of details
not heretofore published
OF the Northern Pacific railroad the COM
missioner says: Returns made to this office
by the Northern Pacific company indicate
increasing business. The property has been
inspected and shows good maintenance
healthy improvement and conservative man.
agement. The total cost of the road and
equipment up to June 80, 1884, amounts to
Sl6S. .907, ,607. The road has been construct
ed with remarkable vigor and undoubtedly
adds to the material wealth and facilities,
greatly developing the resources of the great
northwest During the year ended June 80,
1884, the company expended Sl2, 1888 .SSl for
new construction and improvements, and
IS, l04, ,602 for rolling stock, of which 81 ,297,
O6l was for locomotives alone. Under its
land grant act the company has acquired by
United States patent 1856, ,O62 acres and by
the certifcation of the United States land
officers not patented, 1877 ,6S5 acres. Up to
June 80, 1884, the company has disposed of
4 1890, ,22l acres for SlS,033 $50. The maxi
mum price per acre exclusive of town lots)
has been $50, and the minimum $500 per
acre.
On July /, 1884, the company abandoned
the use of the track of the ST. Paul, Mime
sofa & Man. railroad between Tank Rapids
and Minneapolis, and commenced running
its trains over the track of the ST. Paul &
Northern Pacific railroad between the points
named. For the use of the property the
Northern Pacific company pays the st. Paul
& Northern Pacific company net rental
-, ,,,l IS
earnings on the St. Paul & Northern Pacific
road. The Northern Pacific company owns a
little more than one-half of the stock of the
ST.. Paul & Northern Pacific company, and
will receive its share of the rent over what is
required to pay the interest on the $50, 900 900
bonds of the St. Paul & Northern Pacific
company. The total earnings of the Northern
Pacific company for the fiscal year were
SlI sos, ,577, an increase of S4,74S, ll6 over
the earnings for the preceding ye2r. The
total expenses were $7,lT ,754, and an in
crease of 81 $40, ,S24 over the expenses of the
preceding fiscal year. The net earnings
were So, ,425, ,S2O, an increase of S2,907 ,29l
over the net earnings for the fiscal year end
ing June 80, 1888. During the year S2l
miles of road were added TO the companys
lines. and the net earnings per mile averaged
S65S. The report shows a large increase in
J
and an insignificant reduction of the revenue
per mile. The financial statement of the
company shows that the liabilities on June 80
1884, were $9l ,280, ,564, and the capital stock
$500, ,068, making the total stock and debt
SlS0,080, ,633. The assets were $50, ,0S7 .633,
The earnings during the year were S36, ,373,-
S3S, and the expenses $36, ,697 1887, leaving
deficit after deducting the company's sinking
fund requirement per their books of $685.
O49.
OF the Central Branch Of the Union Pacific,
the commissioner says that the business of
such road would warrant the placing of
better material IN the track and a generally
better maintenance of property. The com
pany earned SS37,886 during the year as
against 6730, l57 during the preceding year,
and expended $496, ,206, an increase of SILL
042 over. the expenses for the year 1884. The
net earnings on 100 miles of subsidized road
for the calendar gear ending Dec. 81. 1888,
were S3S6,07l. Charges for government
transportation to the amount of $36,2S7 ab-
sorbed five per cent of the net earnings Cor
S19,303) due the treasury of tine United
States and leaves a balance of $l5,983 in
,avor of the company. The liabilities. iDclud-
ing the stock and debt were S6,653 ,60S, and
the assets s4.4lO, ,SS9, showing a deficit of
82,242,7lS on June 80, 1884.