The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1886-12-02

pRuy, repaid 20 Jne UuIte1 prateB.
The Commissioner says that reports
OF the Treasury Department shows
settled accounts and money paid into
the Treasury June 80, 1888, sggreea-
ting S21,674, Ala, or $929,729 leso than
the amount claimed by the company.
The credits of the company are in
creased, however, by accumulated in
terests on sinking fund investments
t44S 500 Total credits June 80, 1885,
S2l ,l22,9l4. The gToss earnings Of the
Union division for the year 1885,
United States and commercial,
amouBted TO $l9,2l5, 484; expendi
lures allowed under the Thurman Act,
$7,761 sos; leaving "a, 453,s79 as net
earnings, a which the government is
entitled to % per cent, or $ll3,469.
The amount found due from the
Kantas division is Sal, 0l9, making q
total Of 81, 1854 ,4s0 due from both d.
visions. Instead OF dividing The
earnings and expenses Of the Kansas
division on milesge basis, as here
tofore, the amount found due by the
Commissioners was based on an actual
location as between the sided and
non-sided portions Of the road, and
resulted In an increase OF S32, 672 in
the government requirements.
The funded debt OF the Union Pa
cific Railway Company June 30, 1885.
was $l16, e48, 1879, against $li6,44l ,707
the year before, q net decrease OF ST..
1893, 807. The revenue of the Union
Pacific Company for the year ended
December 81, 1886, was $25, Cog 836
expenditures, $2l ,944, 1904 surplus, 49,
121, 932; surplus including eKpen-
ditures for new construction and equip
ment, 1884, 1881. The net earnings
were $8 404 $40 against So OIL 800 in
1884 The net earnings OF its auxiliary
lines for the year 1885 were 81 1862, 744,
against 81, 8i7 ,2G5 in 1884 The com
pany operates twenty-one branch
! liner, nineteen Of which it has a CON
trolling interest, although each has
independent organization. The totaI
mileage OF these branch lines Decem.
Der 81, 1885, we're 1887. The bondG
outstanding emounted to $40,352, eco
Of which the Salon Pacific owned
$24, 080, 900, which cost the company
800, ass, 263.
The total capital stock outs,an dine
(par valued was $42, 257 ,750, Of which
the Union Pacific owned 1874, 2l6,000
which cost 1t $ll,562,334. The mel
earnings OF these auxiliary lines fol
the year ended December 81, 1885,
amounted to 81, 366,49l. The annua
interest on bonds was $1,000, ITO. On
two roads dividends amounting IA
SOL, 900 we're paid on stock, all o.
which, however, was owned by the
Union Pacific Rail way Company, max
ing total for the year Of $2,666, ITO
or a deficit from the business of the
year of 81, 2B8,6l8. That portion o.
the deficit, however, which represents
unpaid interest upon bonds owned BY
the Union Pacific Company Is a mere
book account or q charge against thu
several auxiliary roads, payable from
their future earnings, and not money
actually paid out by the Union Pa.
cifc Railway Company.
The Secretary OF the Interior, II
giving out this report today, made tht
following comment concerning th,
deficit indicated above: at Is claimed
by Mr.. Adams, the president OF the
company, that this deficit is apparen
only, representing not money pait
out, but book accounts OF interes
which has accrued on securities
largely held by the Union Paci6t
company itself. 1t Is further claimeC
that during the year the auxiliary
lines ss q whole not only paid thei
own operating expenses and 81, 800, 0OI
In addition thereto, but also contrib
uted to the main or aided line OF the
Union Pacific some $5,0O0,0O0 wortl
Of traffic which otherwise il would no
! hawa racaiuad