The Iola register. [volume] (Iola, Allen County, Kansas) 1875-1902, 1888-10-12
PACIFIC RAILROADS.
Gsner.l Joseph z. Johnston Satisfied WIFI
Their Coutftfnu.

Their Condition
wAsHINGroS, Oct. 5.-C5eneral Joseph E
Johnston. Commissioner OF Railroads, in his
annual report to the Secretary OF the Interior.
states that the railroads south of the Southern
and Central Pacific and east of California. have
been inspected during the year by Mr.. Eassard-
the engineer OF the ONCE. The Commits
inspected the Union and Central Pacific and
ali the roads in California and Oregon connect
ed with the latter and those in Washington
TERRITORY. These roads," he adds. ARE ali in
very satisfactory condition They were well
built originally and have been kept In excellent
order since. Steel rails have been substituted.
for iron almost everywhere"
The examination Of the books and accounts
Of the subsidized companies the Union Pacific,
The Central Pacific. the Sioux City Pacific
and the Central branch of the Union Pacific.
was done by ". J. Thompson. assistant booS-
keeper. and J. kemper. clerk 1t concluded a
comparison Of tbs reports of the companies
mede to the Commissioner with their books and
accounts. No errors or discrepancies were de-
tected
The report shows that up TO December 81,
1851, the Union Pacific Company had disposed
OF IL e94 Isl OF land the total cash receipts
from all sales amounting to SO 395 PSI There
remained outstanding on account Of time sales
the sum Of sIa53s.s61. The average price per
acre for all sales was $3.50 for the Union divis-
the Denver division. A comparative statement
OF the funded debt Of the Union Pacific Com
pany shows that on December 81. lse7. the
amount of bonds outstanding was ellji'i+GSG,
which is 6 net increase for the year of I.11S "a
The revenue of the read for the year 1SsI ~
sregsted ss5, ly9 SIS and the expenditures Si3-
90 es1, leaving a surplus Of S, S3l3i. The debt
Of the Union Pacific on December ST. leS1. vas
es22. i6a AL, OF which 500 S5SJ was capital
stock. TIE increase for the year was 81, SILL 3.
The assets OF the road aggregated sT64Ji-l3I,
which was net increase for the year of sSsis.-
$40 The increase IL. surplus for tee year as
7.61.I3L The total earnings for the aided por-
tions of the road for the same period was sl1.-
4s3s1s. an increase OF His Az. The expenses
aggregated Elisa; "a which was a decrease Of
ss5o.0ls The increase in the amount due the
United States was 3<eSl
The funded debt Of the Central Pacific road
on December 81. Iss1 Is shosu to have been
81 ~. esl which is a decrease for the year Of
G.sl7..a. The revenue OF this road for the wear
was 5 81, Pas. the expenditures sl37 s,s5. the
financial condition Of the road Is shown as fol-
lows: Liabilities, including capital stock. rs =
22s.77B. assets. sG2205I.@2 surplus. 3l-s2 ;is.
OF the assets a. -Jn.t01 is credited to farcli1
lands unsoid.'' which thu Commissioner b.
lieves is not even an approximation. on sc
count CT overlapping grants, which are liable to
be lost The total earnings OF the aided part o.
the road was sS,Gas 163. the total expenses
se,2.p.2l5, which is net increase in the earn
ings Of the year OF s273,UG.
No recommendation are made in the report