, 1885-01-10
FACT AND FINANCE.
Which Should Possess a Lively
Local Interest.
An Exhaustive Report From
Government Commissioners
the Bright Outlook for the
Union Pacific.
The U. P. Sized Up.

ranort oftho bo.rd ~ .,ovo,nuont d;roo-
tors of tbe IIn;on poc;6o R.;lro.d rom-
nanv was suhm;ttad 70 tbo Soora,.rv &c
tba interior II l. understood - have
hoon IT,, ma H., w Mor~;man oeIomn
ssora.ar, - ~ 49, aad = - -,
all tho ma,nbars Tho d;roc,on n.;t;o;ra
w;tb oons;darahla saro.;.,, ~ c,-narman
.oeron, &c ,ha rood No. asnao;aur :,
tbe nroct;ces and ~rol;c;os &c ! comn.nn
narta;n;ngt 70 tbe conduct 81 ,ha tr.fSo
der.r,rart and 49, r.l.,;nn % -
ssa,,,res or ~ snano;aI naan.romont
Tbora hos beon i. do ohonro oe "a
m;n;st~otion ond tha nor mananoman, !.
credited WITH maxine an newest oeort 70
uerad;cate tbo evils beretosore e-~;st;rn y
Tb;s 49, ,hov rooord d. n-oro;s;nn
substantial, and faI;c;tons r~asnlts r. tbe eT-
e~cut;on Of nresentlv declared nlans and
nol;c;as of the adm;r;str.,;on are not IN
some wav ;ntarearad With or nrevented
stress; i 1o;d unon ,ho ;mrortan.a af
| nlac;rc tho rssnons;hlo oxoc,t;ve menace.
ment of the road in tbo norsor of tbe
| canarol Manano- TIL. h.. M. No., a.
case beretosore and tbore hoe bean corse-
ouentIv a conflict Of on;n;on hetween tbe
d;roctors and Ioco, mananan,ont Tbs
covernmsnt d;rsc,ors bos;nc tbe;r conv;c-
t;ons nnon : n~ottr tho-onrh ;nvost;rs
t;on 81 ~ eona;t;ons .od ch.r.c,or;st;os
of tho ro.d Col ;mnollod % e~nress tbe
or;r;on .bot tha d;raotor,, hoe no, hon
fsr;s.r w;,b 4. real roor;rauorts and tbo
scona Cts Interests In fact tbose in
terasts arc not read;Iv co-mnrebended Tho
rovo~nnont d;rootors foal oonedont th.t
the LINTON pacific directors Immersed as
tbev have bean in their nr;vate Affairs
have NOT in . s,,fsc;entlv nract;cal manner
acquainted tbamselves with the interests
in their kaen;no Tho oament IL nj
nrasent emnlov;ng and onnlv;no every de-
vice IN the wav Of economv that the most
uc,,,nulors caro can sroyest or ;ncenr;,v
invent The ;m,oad;ate and temnorarv
result Of his hos been mn 20 ,b;s fine
very 0ratifving
The Union Pacific has the reputat;on
of being exceptionallv conservative in the
matter Of granting free masses. A state-
ment of those issued during the.past wear
shows only sstripu masses and not ipcluJ-
ing ''annuals'' show that the lowest one
week issue was sl3. 772: and the high
I'M
| the basis of regular passenger tariff rates.
Measures TO correct are demanded and it
is gratifying to say, have been inaugu-
rated. 1t is within. the knowledge Of the
government directors that the President
and General Manager recognize the neces-
| sity of popularizine the road so far as
"a they may though the obstacles in
every wav are numerous. Its constant
fear is of adverse legislation ON the one
hand and a constant determination on the
mari of the public TO have remedial leeis-
lation on the other, that tends to render
railway securities of uncertain value,
the operations of the roads of uncertain
success and to greatly increase the diff
Guilty to their management. Securities
that should have a certain and stable
values are thus frequently converted into
simple mediums of speculation.
The examination Of stock holding in
the Union Pacific develops ON very in
teresting and very important features.
There are Cos. 6s5 shares of 500 each.
The Boston stock ledger which, in 1875
contained the m of only ninety-fve
holders, representing 67,l2l shares. now
contains 5,l45 names, representing more
than 23l 600 shares. In 1875 the aver
age to each share holder was FOG. now ii
is A, ofthe ninety-fye then, only thirty
three are now on record. 1t thus appears
that about l49 in each $50 of those who
hold stock to-day were not holders in
1875, not one in $50 of the present Union
Pacific Stockholders were owners Of stock
in 1875. There are now 7,7I3 holders Of
stock; in 1875 there were scarcely as many
hundred. At that time the holdings were
in large amounts, now $3.50 out Of this
7,713 persons hold ten shares or less,
8, 449 hold between ten and one hundred
shares, 1893 between 100 and s250 shares
l65 between PSI and 500, and 156 NOR,
than 500 each. These comprise women
(mainly in New England, 2,S46 holding
5S,Ol6 shares); trustees and guardians
(327 holding 1872 shares); and banks