New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1886-12-02
THE PACIFIC RAILROADS.
REPORT OF COMMISSIONERS JOHNSTON.
NEED or IFo STATION TO ENABLE THE GoVHes-
WENT oBfiG ATOMS 70 BE MHT

yEEp OF Fo Station TO ENABLE THE CoNEHs'
WENT OBLIGATIONS 70 BIZ MET
WARRINGTON. Dec. 1.-The annual report Of Genera
Joseph L. Johnston, Commissioner OF Rnroads mas peel
ssa with the Secretary Of the Interior was made pub
II. ,edsy OF the Union P,ciae Raj way Company the
says that his annual tour OF inspection
he found the road and appurtenances in excellent
condition. The financial condition OF the road
on June so 1886, shows total stock and debt
to he $500 3y7 7o2: total assets S253s 1929
surplus S3 637 All Referring TO the item Repaid the
United States s2i 60i III" In the assets the Commits
sioner says that reports Of the Treasury Department
show settled accounts and money paid into the treasury
June 30 1886. aggregang $20.G7411 or $?29727 less
than the amount claimed by the company follows
Total payments t. Interest account $li7o3,662 total
payments to sinking fund account, $j970,S51; total
payments by tine comp ny. $2O,G7441L Tho credits Of
the company increased, however, by accumulated IN
er,st on sinking fnnl Investments $tis,J0o. Total
credits June 20. 1886 S21.l22.9l4
The gross earnings OF Union Division for the year
1885, United States aud comnercial, ainonntch 10
S1o2I5Asi, The expenditures allowed T. be deducted
under The Thurman Act amounted to $7,76l6oo ieav-
ing The ann OF it53ST9 net earnings OF when the
Government entitled 10 % per cent. or TtilS'ao'
Thc amount found due from the Kansas DIVISION II
Slll Oh making total of 81 2ji.1s9 due IRON poth
divisions Instead Of dividing tho earnings ana expenses
OF the Kansas division "A mileage basis, rs hereto
found diic by Tue
on an eetua location between the aided and noa'ded
rortion, of tho road and resulted in an increase OF
32 GU in the Government requirements. The FUNDED
debt Of the Union Pacific Railway Company, June 3d.
1856 was Sll5.OIs.ls9. against Sll6iil'9| the
year before n net decrease Of Si.39JSO7
The Of he Union Pacific Company for the year
ended December 81, 1885. was S25O66s 36 the ex-
penditurcs. S2l.9ii.9oi; showing surplus OF
s3I2l Or The net earnings o.the Union Pacie Com
s,o ed
ss lOlG76 rs compared with $s.0i1,0oo in 1884. The
NET carnns Of IT, auxiliary lines for the year $50 were
III 362 774 IA compared with &lsi7,.6j in 1881 the
expense Into IN luting taxes of the Union Palhc c"m
many for the year 1853 Bliss per cent Tor The year
isSl il WIS 1887 per cent For tie hhXl.ary lihcs
II was 1891 per cent for the year 1850 aud 1913 per
Tho net earnings Of these auxiliary lines operatedby
the Union Pacific Railway Company for the yea ended
De- 'nber 81 1883, amounted 10 81 s66 4gi Tine ~,
na interest on onds Ma' 81 10 t ON Nv" r9a
of which. however was Owned by the Union fWlnc
sSe551iO deficit from the business OF the year OF
81 26S. GlS. That portion of the dcc however when
repe cents unpaid Interest upon bonis owned ny the
Union Pacific company Is mere pooA @ronL s w.
charge sgnst Tire several auxiliary roads payaDe from
their future earnings an lot money actually pao CUT
by the Union Parifc Railway COMPANY
The Secretary Of the Interior IN giving out ms report
today made the following comment concerning me dc
nc Indicated above: IL Is claimed by pr Auhn ,i
president of the company that during the Aot .no
sgay e. and a, So 600 o IN nl1tsn thereto hut
also contributed ~ the main or aided inc or tne o"
Pacific S5.OoOOOO worth OF tfauic WHICH o'or"so
Il would not have received,
or tic Central Pacific Railroad Company the report or
Commissioner Johns that IL properly was h'o
found In excellent condition. The various INES Oh
the company have been operated since Aprl l. iSo1 ny
the southern Pacific Company Of kentu.ky hhler lho
terms m lease dated February H. 1863 The gross earn
inps of the Pacific system for the year ended June 80
lssG compared with those of the ended June %
inys Increased ~I,i3O,5l2 or 31Os per cent. ne
financial condition of the road June 80 lsso
l. summarized ~ follows Total dent So fS'2.o
cnpiral stock sj9,275.1oo Total stock l and dent
$751; I.O3s; total assets, S1,433,lls. surplus
SCOOP 40 The company also claims tlat " O" Iauus
csiimaten at 1923. 10000 hui on account OF eouIcuus
and Ovcrapp'ng grant, adverse cla rs, desert ludseo
their value as an asset is merely conicctutal oc,
TIE ross earnings of the aided portion or the oau -ol
miles for the year ended December 81 1882 are SHOWN
Ia nave been - $40 2l4 and the expense, Tor the same
net surplus OF <S63.j4S. The OOfernnent lcqhucenI
amounts to S3S6.lls. . ,--.o-.-
asserts The need ~ legislation 10 enable te companies "
discharge their obligations To the Government
The total amount OF interest paid by me nised ctates
on account the subsidy bonds mp 10 June ~ 1880 was
ment for transportation services ana cre'tei tt
account S21 0oi 1888 credited 10 the sldknS luu az
count - .65s 7l3; making total OF 3o|oooSo' tx
cess OF Interest paid. $40 lOi,229. o.
OF the Northern Pacific Railroad Company the Commits
o scd.r for working, tho limo will prob
ably be In operation before June l. 1857
The total number OF OF land received by inc com
pany from the United states BY patent ana I'M
been sold From sales the company has recei ed
500 s36OOO and there are Outstanding on tlme s;ues
$40 poi The following shows the financial CONDITION
Of the Northern Pacific Railroad Company, June 30
IssG: liabilities. 1859 3s5. 23t assets. $3.50 oos393
surplus S2O3.lJ9 The earnings for the I0au ior inc
wear ended June 80. 1856. were SllI3OoZ re cA-
when increase Of s5364l4 or lo6i per cent over
last year."