The Iola register. [volume] (Iola, Allen County, Kansas) 1875-1902, 1889-10-11
The PACIFIC .RoAps.

Annval Report az the Coamisssonsrs u
Railroads Of Businsss-roo
Many Roads In the West.
WASHINGTON, Oct 2-Horace A. Taylor,
the Commissioners OF Railroads, mas
nled with the Secretary Of the Interior
the annual report Of the operation Of his
bureau for the fiscal year ending June 30,
1859. The Commissioner discusses the
situation in the West and Northwest and
presents the following statement:
The subsidy bonds issued to the Union
Pacific Company to aid in the construc.
tion Of its road, amount to $33, 539, 512. and
the interest paid thereon BY the United
States to S43 161. 4o5. aggregating the sum
Of SIC. 700,9l9 There has been repaid by
the company in transportation services
| and cash payments as shown by the books
Of the Treasury Department the sum Of
SIS 49,. 127; which makes its liabilities to
the Government on June 80, 1889 amount
! to SOL 269, 1872 The excess of interest
paid by the United States over all credit
amounts to $3.50, $50 The debt Of the
company June 30. 1889. was $l65. 651 679,
and the capital stock of So, $685. 200, max.
ing a total liability Of s226 500 l59. The
| assets amounted to $275, 304, I23 The
amounts due from the company under the
acts of July /, 1862, and May l. 1878 for
the year ending December 81. 1888, were
as follows: Union divisions, total earn.
ings $40, $50 594; total expenses, $40. 035.-
$50; net earnings, So, 7s5. 25a Twenty-Five
per cent Of net earnings under act of
May 7, 1873, 1916 3l4
Kansas division-Total earnings, 50 32s.-
576; total expenses. 1857 1872; ret earn.
ipgs. $1,341, $3.50 Five per cent. OF net
earnings and one-half Government trans
portation, $115, 219. making q total Of ST..
O61 532
The subsidy bonds issued to aid in the
construction of the Central Pacific road.
amount to 81, S55, $50 and the interest paid
thereon by the United States to S35, 14s $40
aggregating the sum of $63, O04 529. There
has been repaid by the company in trans.
portation service and cash payments, as
shown by the books of the Treasury De-
partment the sum of SO TAT. 1874, which
makes its liability to the Government
June 30, 1880 amount to S52,256. TS4 The
excess of interest paid by the United
States over all credits amounts to S24,.
40l,054.
The total debt of the company June 80,
1885, was So, 296 185, and the capital stock,
S6S. 100000 The assets amounted to S222,.
757, 1852. During the year the liabilities in.
crea sed $2O29, 1876 and the assets $, go, OO1,
making a net increase in assets of $732..
635. The funded debt amounted to $751;
GA $50.
The amount found due from the company
under the acts Of July 1. 1852 and May Z,
1873 for the year ending December 81,
1888 was as follows: Total earnings.
50, IT'S 266; total expenses $7,633. 915;
net earnings, S1,544 35I Five per cent of
net earnings, $77,217; whole Government
transportation, $3.50. 500; total due, $467,-
217.
The sinking fund of the Union Pacific
and Central Pacific Companies. held by
the Secretary Of the Treasury June 30,
1889, amounted to SO 514, CO., the Union
Pacific having to its credit 80 29S, S52, and
the Central Pacific $4,2l5, 752 The pre-
MUM paid on the sinking fund of the
Union Pacific amount to that date 81, 752,.
726 and the interest received from in.
vestments to $1,2l667a. For the Central
Pacific the premium amounted to $685., 1885.
and the interest received on investments
to $685. $50.
The Sioux City & Pacific Railroad Com
pany received bonds from the Government
amounting to 81, 6S2, 800 to aid in construc-
ton of 10l.5S miles, that portion Of the
line betw cen Missouri Valley and Califor.
mia junction, 5.84, being subsidized The
interest paid by the United States amounts
to s., 050. 49,, and there had been retained
by the Treasury Department on account
of transportation services rendered the
sum of $153,509 leaving an aggregate
amount due the Government June 30.
- -
paid by the United States over all credits
amounted to 1,s96, $50. The amount due
the Government under the act of July 9,
1864, for the year ending December 81,
1888. was as follows: Total earnings,
$517 800; total expenses. 1915 617; net earn
ings, $141, 6I2; five per cent Of net earn.
ings and one-half Government transport
tation, $1s,9S4.
The subsidized portion OF the Central
Branch Of the Union Pacific line is oper.
ated by the Missouri Pacific Railway
Company and extends from Atchison to
Waterville, Kan. a distance of 100 miles,
the Government having issued bonds to
aid in its construction amounting to ST.
GOO, 900. The interest paid by the United
States amounted to s.. IL, sos. and there
had been repaid by cash payments and
money for transportation services with.
held, the sum of 1891 045, making the ag-
gregate debt to the Government June 30,
1889. amount to So, 1874, 762. The excess of
interest paid over all credits amounts to
81. T34. 49,
The amount found due the United States,
under the act of July 2. 1884, for the year |
ended December 81. 1888. was as follows:
Total earnings $426 034; total expenses,
$27S. 143; net earnings, $l4I, 500: five per |
cent of net earnings and one.half Gov |
eminent transportation. $14.664
The Commissioner then reports to the eff |
feet that repeated and ruinous rate wars |
have prevailed to an alarming extent |
throughout the West in recent years. |
Rate wars were in many, il not in most |
cases, devoid of pallation or excuse-in- |
augurated without reasonable cause and |
vindictively prosecuted with an utter dis
regard of their disastrous effects upon the |
interests Of the companies engaged and |
the business public. They destroy or per-
NHax xa1, 90