The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1889-05-18
UNION PACIFIC EARNINGS.

Regularly the monthly reports Of the
Union Pacific railway company, this year,
show a falling off in the net earnings. The
decrease from March is reported IN another
column to have been half million dollars,
and for the first three months of the year,
S615,0O People are asking what is the
matter. They cannot understand it. The
season opens well. Freight traffic is i'm
mense, and transcontinental travel has not
suddenly declined. 1t is certain that the
Union Pacific is not losing its prestige,
and it is equally certain that It is get
ting its share Of the carrying trade.
The road was never in bet
ter condition than now, and it
was never operating more trains at a cor
responding. season than at present There
must be a reason for this apparent falling
off in net earnings, and we imagine the eX-
PLANTATION can be found without going very
far.
For years the Union Pacific has been ear
nestly and honestly trying to arrange with
the government for an adjustment of the
company's debt. which viii soon fall due.
1t has been the ambition Of President
ADAMS to settle the debt or arrange for its
settlement in terms, which would be fair
and equitable to the nation and to the rail
way company. He has labored to that end
industriously and cOnscientiOusly, and has
presented propositions as liberal as it was
possible for the company to live up to. All
his overtures have been ignored or rejected,
Congress after Congress- failing to take
action in the matter. the majority of the
members treating the Union Pacific as if it
We're an organization Of thieves and sharp
ers bent on swindling the government.
THE HERALD may be guessing wildly. butwe
imagine we see in these monthly reports of
reduced earnings, in connection with re
cent events, evidence that the Union Pa
ciic people have grown tired of pleading
for settlement with government, and
wisely concluded to let the government
have the anxiety hereafter. Unless we are
mistaken the earnings reported are the
earnings of that part Of the road on which
the United States have a lien, and which
the nation will take if it foOlishly forecloses
the mortgage. We are Of the opinion
that if the earnings of the system were
shown it would be seen that instead of fall
my DGlllu nal lUllllOU uOLdfS Il HOQJu,
the net earnings would show handsome
increase. THE HERALD hopes it is right in
its estimate, and that the branches are
being credited with traffic which heretofore
went to the main line. We also hope that
this practice will be continued until gov
eminent has been forced to he reasonable
in the matter of terms of settlement, or has
taken the road for the debt and thus per-
mitted the Union Pacific to do something
for itself and the country.
We certainly cannot think that the Union
Pacific railway system is suffering the
losses which have been noted since the first
Of the year, and hope that our guess as to
the reason for the reported falling off is
close one. 1t will be better for the country
and for the Union Pacific when government
has been brought to reasonable terms, and
the way to bring it to terms is for the com
pany to look out for t5elf, as it has been
doing since it became convinced Of the I'm
reasonableness and stUbbornness of Con !
gress.