New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-01-22
OREGON SHORT LINE AND UTAH NORTHERN.


Tuesday. Jan. 2l-p. ~
Yesterdays reports Of the earnings Of the Oregon
Short Line and Utah Northern for the month 81
November made complete the returns OF tie
consolidated company for the first four months 81
its existence The consolidation was Effected on
August l. 1889, under terms that started the nc"
company with a clean sheet without h"ating
Indebtedness of any kind or description. The pre-
vious deficits Of the Oregon Short Line, which were
apparent only because Of system OF housekeeping
by the Union Pacific which WAS not. warranted
bv the original contract, were all adjusted, ana are
included in the statements which are made below
From August l. the date Of the consolidation, the
Oregon Short Line and Utah Northern shows re-
suits as follows , .
Net Gaming, for four months 49, 9,9
Charges taxes, ETC. ''V"''
n.,...o ........................ 5i33 ses
The OREGON Railway and Navigation Company,
which is leased by the Oregon snort Line ana
Utah Northern Company shows results as l0ll""h !.
Set earnings for four months 81 81 o5d
Rental ..........'.'.. .'''-'''''' ''''' -
Profit to oregon Short Line and Utah Northern *7sl+l
Tho fuII result TO the Oregon Short Line ana
Utah Northern for the four months Is as l"llo"S
-, n .,r,,lu. ........ sf33 800
W. T"h Rom Ureeon Railway navigation 7siil
,r.., ..s, o.. ,,,r ,oontb. ............ s5I2 oo9
This is result that is at the rate Of 81, 55'021
Oregon Short Line and Utah Northern, or at the
rate of 3 60 per cent on its full stock Of S27 OOO
600 The foregoing includes the charges on the
additional issue Of bonds with which li6 miles
nf additional road is 10 be built, from which
there now are no earnings, as well as the iulI
Capitalization of stocks under the rights offered 10
stock holders. Further than that 1t IS understood
that ARRANGEMENTS have been made by when the
nrofts from the operations OF the oregon railway
and Navigation after November viii be largely IN
creased OF the S21 600, 600 Of stock OF the Oregon
short Line and tab Northern which Will be ont
Standing after the new distribution, the Union
Pacific will hold about SIS, 100000 that Is. any
dividend paid OH the Oregon Short Line stock
Iii result 10 the pocket and profit Of the parent
cnmpany-the Union Pacific. Hence II IS easy
~ see that a dividend on Oregon Short Line must
nrccedc any dividend ON the Union faclhc. With
ont a dividend from the Oregon Short Line the
I MON Pacific is incapacltated from declaring
any It's own stock'
In another column the preliminary report Of
the Government directors oil NE Ihloh faclnc
Railway Company is printed. The report strongly
recommends an early adjustment between the fSll-
road and the Government OF INC COMPANY : IA
utilities 10 the Government en- thc OASIS OF DIiis
,vbirb were before the last Congress, and tho
renort closes with the following emphatic IN
dorsenent OF the roads present management:
In conclusion we consider II entirely httng,
and part of our duty as Government representa-
tivcs 10 express our confidence in the ability,
honesty and purposes of the roads present mana
gers During the five years that theS nav iu-
ministercd the affairs of the company there has
been displayed by them constantly such wisely
directed energy, such faithful PERSISTENCE IN
tho fact of the most discouraging obstacles, such
an honorable determination to place the road in
It's right relation with the public and the Govern
ment as TO call forth the warmest praise ana com
mendation In rescuing the Union Pacihc system
from the insolvency that threatened It in lssi,
and placing il upon sound financial basis In
the face Of opposition such as few railroads ever
had 10 struay 'e against, the managers have ac-
complisbcd a : NY Titanic task. IL is earnestly
boped that Congress will supplement their work
with the legislation we have heartily recon-
mended and thus put this great railway system
in a position which it is entitled under every