, 1888-10-25
HOLCOMB CHOSEN.
He is Elected Vice-President of
the Union Pacific.
FINANCIAL STATE OF THE ROAD.
Another War In Manitoba How Cattle
Men Beat the RgIiroads--The ". T..
Heading for Chicago.

BosToN, Oct. A.--At the Union Poetic
meeting to-day w. II. Holcomb was chosen
director, vice Colgate, resigned. Subsequent
to succeed the late Thomas j. Potter as
chief executive of the affairs of the Union
Pacific system, with headquarters at
Omaha. A. l.. Kimball was appointed
general manager and c. S. Miller assist
ant general manager. The president
stated that no changes in the organization
of the Union Pacific were contemplated.
Mr.. Dickinson will continue as general
superintendent, J. A. Munroe general
ger agent. No change in the organiza.
tion of the st. Joe & Grand Island was
contemplated or on the various Utah
roads. No appointment of general mana.
ger of the Oregon Railway d Navigation
Company would be made at present. The
duties of the office would be performed by
Holcomb until other arrangements were
made. Mr.. Holcomb Is at present general
manager of the Oregon Railway e Navi-
cation Company, to which position he was
appointed on the recommendation of
Thomas j. Potter. He has personally been
connected with the Chicago, Burlington Il
Northern.
The question Of advancing money on the
part OF the Union Pacific to meet the cou-
pons on the Denver, South Park & Pacific
first maturing mortgage was considered,
and, without taking final action, was re-
ferred to the executive committee, with
full powers. The question of paying diyi-
dend, was not raised. nor was there any
| discussion az to the resumption of the div
| idends by the company either now or
| hereafter. The matter was in no way al
luded TO- The company has no floating
debt for which provision in cash may be
made. The funds, $500, 200, have also
been provided to pay for large amount OF
new equipment, only % portion of which
as yet has been delivered. The company
has no work of construction now going on
The extension of the Salina. Lincoln 4
Western road TO Colby, about l75 miles,
was completed on the Goth inst The
money needed to pay for this work has
been provided.
80 During the four years between JUNE
80, 1884, and June 30, 1888, She surplu
income Of the system to the amount o
S13, 500, 900 has been put into property
About S5, 900 tons of steel also. during tn,
period named have been put into tracks o.
the system in place OF iron. A tabl'
showing the condition of the funded anC
floating debt of the company. its mileage
and its debt per mile accompanies the
statement. From this it appears the en-
tire funded and floating debt has been re
duced since June 30. 1884, from S155, ,446,
666 to $l4S, $685. l59, including all accrued
interest to the government and that il
this same time the mileage has been in
creased from 44l9 to AGA. The debt pc
mile stands at $3l. .l9l as against $35, 10
There has been an increase in the deb
since December, 1897 The increas
amounts to 81 ,436,937. The result of tn
, financial operation of the whole Unio
! Pacific system for the twelve months end
ing June 30, 1888, is as follows: Gros
earnings of the entire system, S29, ,029
453; surplus earnings, $l1. .l59, 1856; tots
income, S12, ,259, ,482; total expenses. 81
, sos, l03; surplus, less United States n
, quirements, approximate S3,535,5