St. Paul daily globe., 1889-12-24
UNION PACIFIC FEEDERS.
President Adams Makes a State.
ment of His COmpany's Plans,

BosTON, Dec. 23.-President Adams,
of the Union Pacific, in an interview,
says: 1.-The Oregon Short Line eonsoIi.
floating debts, and its account with the
Union Pacific is discharged through the
recent settlement, under which the
Union Pacific took bonds for advances
made. The Oregon Navigation and the
Oregon Short Line have been adversely
affected by the dry winters of 1SSS-S9.
No snow in the mountains in Oregon
means a light crop Of wheat in the
valleys the following season. The Ore.
gon Navigation earnings are still suf-
fering from this cause, which is not
likely to occur again. The Oregon Short
Line will suffer loss of half million
dollars year through the Oregon
Northern, but will, nevertheless, earn a
surplus over all interest charges. This
deficit next year shall be much smaller,
if not wholly wiped out. The Oregon
Short Line will also have next years
earnings from the Spokane Falls line
and from the Ceur d'AIene extension,
both of which will yield large business.
The building of the 145 miles into the
Phoebe country and the
WIDENING OF THE GAUGE
from Ogden north will furnish a large
additional business next year in the
territory of the Oregon Short Line Sys-
tenn. The Oregon Short Line has got
through its trials. Comparatively speak
ing, it is not heavily capitalized and en-
tiers On field of greater promise. The
country through which it runs is grow
ing rapidly. The trouble with the Ore
gOn Navigation company has been adj.
justed. The result of the recent con.
s0lidation was to leave large amount
of bonds in the company's treasury, and
| don't see but that the future
for the Oregon Short Line and
the Utah & Northern is very
bright. Senator Frye, of the senate
committee Investigating the Pacific
roads, recently asked us for statistics as
to the benefit to the Union Pacific of its
branch line system, and were aston.
ished to find that the net amount earned
by the Union Pacific on traffic inter-
change with the Oregon Short Line aud
Utah Northern line was 8, sol, 900. In
other words, the Union Pacific would
not to-day be earning any surplus over
Its interest charges but for the business
done with the Oregon Short Line syS.
TEN. The Oregon Short Line will not
move rapidly in the way of new con-
struction. The Union Pacific does not
propose at present 10
TRY TO COVER THE EARTH.
The entire Union Pacific system will
only build 200 miles of additional roads
next year-i45 mile5fn the 0regonShort
Line system TO IiCche, where the
line will rest for the present;
So miles to connect the Cheyenne
& Northern with tic ElkGOrn division
of the Chicago & Northwestern system,
and twenty miles to make some con-
neetiOnS in Kansas. All the stories
now current in newspapers as to plans
and extensions and purchases of the
Union Pacific on the Pacific are pure
inventions. absolutely without basis"
Mr.. Adams said he could not talk about
dividends for Union Pacific stock, and
as to the chances Of the Union Pacific
refundlng bill in congress he know
nothing. He had been waiting nine
years for congressional action upon the
Union Pacific debt, and he had got used
to waiting. His maternal family con-
nections had waited ninety years for
congressional action upon the French
spoliation claim, and the virtue of pa
tlence when dealing with Providence or
the United States government had been
fully impressed upon him.