Press and daily Dakotaian. (Yankton, Dakota Territory [S.D.]) 1880-1889, 1888-10-26

HEADQUARTERS AT OMAHA.
MIR. Kimbai, Appointed General Manager,
MIR. Meuen Assistant, Mr.. Dickinson
General superintcnleat-The Conn
pany's Financial Statement,

BesroN, Oct. 25.-W. H. Holcomb was
chosen as vice president and chief execu-
tive officer of the Union Pacific Railway
company, with headquarters at Omaha,
to succeed the late L. j.. Potter. L. l..
Kimball was appointed general manager
and G.. S.. Mel]en assistant general man
ager. Mr.. Dickinson continues as gen.
eral superintendent, Mr.. Monroe as gem
eral freight agent and Mr.. Tibbets as
general passenger agent. No change is
contemplated in the organization of the
Union Pacific or the various Utah roads.
No appointment of general manager Of
the Oregon Railway and Navigation
company will ba made at present. Mr..
HoIcomb will continue to perform tic
duties of that office until other arrange
ments are made. He has held that Office
for some time, having been appointed on
Mr.. Potter's recommendation. He was
formerly connected with the Burlington
system.
. The question of advancing money on
the part of the Union Pacific to pay
coupons of the Denver, South Park and
Pacific firsts, maturing November l, was
considered Mt the meeting but finally re-
ferred to the executive committee with
fun powers. The question of paying n
ulNltitud Was " ihioGd, hOl Nuo thClC ~
discussion as to the resumption of divi-
dends by the company, now or hereafter.
= THE matter was in no way alluded TO.
The financial outcome of the first six
months OF the current year to June 80,
as compared with the same period of
1887, is as follows: Earnings on entire
system, $13, 49a, 0S0; increase, $471, 6SS;
total expenses and taxes, $9, 07S, 194; in-
crease, SOL ,ss5; surplus earnings, ST.
4t5. $50; increase, 1868, S04: total income,
"a, 79l,347; increase, $500, 900; total ex-
penditure, S8, 700, ia; decrease, S7Gs51;
surplus TO this point, less United States
requirements, approximates $744, 1872;
increase, $3.50, 6t7. The company now
has no floating debt fer which provision
in cash has not been made. Funds,
(three millions) have also been provided
to pay for a large amount of new equip.
ment recently ordered, q portion only OF
which has not as yet been delivered.
The company has no work of construc-
ton now going on. The extension OF
the Salina, Lincoln and Western road to
Colby, about 1f5 miles, was completed on
the Goth inst. The money needed to
pay for this work has been provided.
During the four years between June 30,
1884, and June 30, 1883, surplus income
of the system to the amount of $13, 800,
900 has been put into the property. Soma
80 5000 tons OF steel have also, during the
period named, been put into the tracks
of the system in place of iron. A table
showing the condition of the funded and
floating debt Of the company, lis mile
age, and its debt per mile ON June 30,
1884, and June 80, 1888, accompanies the
report. From this it appears that the
entire funded and floating debt has been
reduced since june 80, 1884, from 1885,
446, 686 to sl4s, 626, 159, including all ac-
crued interest to the government, and
that in this same time the mileage has
been increased from 4,419 to 4,764. The
debt, per mile, stands at S3l, 1911, as
against $50. ITO in 1884. These figures
make the strongest point in the whole
statement. There has been a slight in.
crease in the debt since December, 1887,
a fact that is very natural, inasmuch as
the first six months of the year are al
ways the lean, months. The increase
amounts to 81, 436, 93T. The result of the
financial operations Of the whole Unior
Pacific system for the twelve months
ending June 30, 1883, is: Gross earnings
for the entire system. SEQ, 029, 453; sur
plus earnings, SIl, 1913. 1876; total income
Si2, 800, 49,; total expenses. 81, 507, 1903
surplus, less United States requirements
approximates 1855, $40.
NJ