The McCook tribune. (McCook, Neb.) 1886-1936, 1888-11-02
AND HIS NAME IS WILLIAM aolcoms.

"
Rin'batt General Manager and Horconrs
chief Escoutipe Officer Of the Union
Pacific.
Boston dispatch: At the Union Pacific
directors meeting to-day, VIM. H.. Hol.
comb was chosen director, vice Colgate,
resigned. Subsequently Holcomb was
chosen vice-president. to succeed the
late Thomas J. Potter as the chief exec
utive officer of the Union Pacific system,
resident at Omaha. Il. l.. Kimball was
appointed general manager, and O. 8.
Miller assistant general manager. The
organization Of the Union Pacific were
contemplated. Mr.. Dickinson will con.
tinue rs general superintendent; j. A.
Monroe as general freight agent, and j.
S. Tebbits as general passenger agent.
No change in the organization of the
st. Joseph & Grand Island was contem.
plated, or of the various Utah roads. No
appointment of general manager of the
Oregon Railway and Navigation COM
pany would he made mt present; the du.
ties of the office would he performed 10y
Mr.. Holcomb until other arrangements
were made.
Mr.. Holcomb is at present general
manager of the Oregon Railway and
Navigation company, to which position
lie was appointed on the recommends
ton of the late Thomas j. Potter. He
had previously been connected with the
Chicago, Burlington & Quincy road, and
later with the Chicago, Burlington &
Northern.
The question OF advancing money on
the part of the Union Pacific to meet the
coupons of the Denver. South Park &
Pacific firsts, maturing November l, was
considered and without final action re-
ferred to the executive committee with
full powers. The question of paying a
divided was not raised, nor was there
any discussion as to the resumption OF
dividends by the company, either o
or hereafter. The matter was i'll 10 way
alluded to. The company now has no
floating debt for which provision in cash
has not been made. A fund of 81, 000,-
900 has also been provided to pay for a
large amount of new equipment recently
ordered, only a portion of which has 81
yet been delivered.
The company has no work of con-
struction now going on. The extension
of the Salina, Lincoln & Western road
to Colby, about 175 miles, was com
pleted on the Goth inst. The money
needed to pay for this work has been
provided. During the past Jour years
between June 30, 1884, and June 80,
1888, the surplus income of the system,
to the amount of $13, 800, 900 has been
put into property. About $1,000 tons
of steel have also, during the period
named, been put into the tracks of the
system, in place of iron. A table show
ing the condition of the funded and
floating debt of the company, it's mile
age and debt per mile, accompanies this
statement. From this statement it APP
pears that the entire funded and float
ing debt has been reduced since June
30, 1884, from $155, 446, 666 to $149, $685.
$50, including all accrued interest to
the government, and that in this same
time the mileage has been increased
from 4,419 to A, 764. The debt per mile
stands at S31, 191, as against $35, 40.
There has been a slight increase in the
debt since December, 1887. The in
crease amounts to $12, 456, 937.
The result of the financial operation
of the whole Union Pacific system for
the twelve months ending June 30, 1888:
Gross earnings of the entire system,
500, 029, 453; surplus earnings, 81, 1884,
1856; total income, $12, $50, 4S2; total e1-
penses, $7,507, 1903; surplus less United
States requirements ~(approximate), 3d.
535. $40.