New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-02-09
CLOSING PRICES OF CALIFORNIA sTOCnS
eAy Ep AycrsCO Fab q. 1899
THE UNION PACIFIC'S STATEMENT.
Wednesday Feb. 8-p. m.


In printing the Union Pacific Railways COM
parative statement for December and the years
Of 1885 and 1887 on Tuesday morning, we re-
ferred to a discrepancy in the figures now given
for 1885 and those published on page 12s Of the
annual report for 1886. While Wall Street
news agency was guessing at an explanation and
sending out the following: The Union Pacific
makes some change in reporting earnings every
year. so that comparisons cannot be made. In
1887 the change the including OF oregon
Short Line earnings which were given separately
in 1885, Tine TRIBUNE takes the 1886 figures
without the Short Line This is the reason for
the difference. The change for SS8 has not yet
been announced" aud later reporting correction
Of its own figures, in which 1t gives the gross for
December, 1856, exactly as The TRIBUNE printed
them taken from the annual report Of 1Ss6-we
were in correspondence with the company's office
at Boston asking for an explanation. This morn
ing we received from the presidents office full
and satisfactory explanation for the discrepancy.
First, 1.-THE 1886 figures in the annual report for
that year, page 1873, included the earnings and
expenses of the line known as the Montana Cnion
then under operation by the Union Pacific, but now
under separate management AS the earnings and
expenses of this line are no longer included in the
returns of the Union Pacific, IL Is manifest that
they should be withdrawn from the 1885 figures
when those figures are used for comparison. Ac-
cordlngly, this has been done, and IN the compare
tive statements sent out by the company during
the last year due allowance was made for this
state of affairs"
August /, 1886, and its total gross earnings from
January l to July 81, 1886 lat which time It's
earnings ceased to, form part of those Of the
Union Pacific whole system) were SIS. 764, and
its net SlS,304. The Oregon Short line
earnings were included in those Of Union Pacific
for the whole year, both of $50 and 1887.
n,,H fIa % fhn 1isara nu &c
by the following:
"The taxes were included in the figures for
1885 as set ont on page 9s of the report referred
to, while they were not included in the compare
tive statements issued by the company during the
year of ss7. The taxes for sS6 as well as for
1887 arc shown on the enclosed statement which
has been made to embrace the expenditures on
that account. This statement is reliable and
trustworthy for comparative purposes
The following is the statement enclosed:'
Years ended
E:5.s.s ss 70 's :; 80 ss
sT9a 'cssss g Dec
Net O38 Is Sc se7 972 u Inc
Why the company should have changed its
method Of making its monthly statements By
emitting ts sc Sa Se snee
1884, is not explained. But 1t changes orr estl-
mate of the cOmpany's net earnings available Tor
dividend on the stock Revised by the explanation,
the years result will approximate the following:
Net earnings over taxes IN 1897 ..... $40 gao 0sS
Other income @. as Of 1886 ............. 1850. 381
T.tal income ....................... sl2. $50 3e4
OF 1885 - " ................... s,OS7.7l4
Balance .................... s46I25so
Per cent on stock NEUTRALITY-SUSPICIOUS.. IA
In 1886 the company received In addition TO
the 81 $50 38l stated as above income from
other sources" the sums of sl.041 300 from land
sales Of Kansas Pacific and s723 300 from interest
on Kansas Pacific bonds total, Sill coo, not
included in above estimates for 1887.
DESPERATION OF TIE BEARS SHOWN.
On several occasions before now certain devel-
Of frndiner the Stool, EYchAnQe