Sacramento daily record-union. [volume] (Sacramento [Calif.]) 1875-1891, 1890-11-07
BONDED RAILROADS.
Review of the Comm ssioner on the Con-
dition of the Roads.

O1t1On Oh the tSOaOBs
WASHINGTON, November 6.h-The le-
port Of the Commissioner of Railroads
contains full information in regard to the
condition of the several railroad companies
coming under the jurisdiction of his office
for the fiscal year ended June 30, 1890
As to the improvements in the bonded
roads the Commissioner says: II am able
to report that many Improvements have
recently been, and are cont nually being
made. These Improvements, where they
are made upon bonded roads, are of espe
cal value to the Government, as they not
only increase the earning capacity OF the
roads, but add largely TO the value of the
property"
The amount received from the bonded
railroads this year was slightly below the
amount received for the preceding year
This, the Commissioner Gays, is not owing
to decrease in business, but to the fact of
unusual expenditures by the Union Pacific
Company in The purchase of new rolling
stock
As to present finsncial relations between
the bonded roads and Government the
Commissioners says THE same unfortu-
nate condition of things exists now that
always existed since the bonds granted IN
aid of their construction were issued, viz:
That the amounts annually received from
the roads fall largely below the amount of
interest annually accruing from the sub
s;dy roads, The debts, therefore, due the
Government from these roads, instead OF
being reduced, as it was evidently the ex-
pectation of Congress that they would be,
were rapidly increasing year by year. This
| increase, however, is not due to any fail
ure of the railroad companies to comply
| with the provisions of the existing laws.
| The fault rests in the laws themselves.
| The per cent. of net earnings required by
| law to be paid in the discharge of the Gov
eminent obligations is not great enough to
| meet the interest which annually accrues
| upon the bonds issued to and in the con-
| struction of the roads.
The Commissioner adheres 10 the opin-
ion that it will be necessary to extend the
| time in which railroads may meet their
obligations to the Government He suggests
that in no event should the Government be
loser by granting the extension.
The total net liability of the Union Pa
ciic road to the Government on June 80,
1890, was S51 Ill, 562. The gross earnings
of the aided portion Of the road amounted
to ST. ,499, 1877 and the expenses to $12, 1885,,
$50, leaving 81, 1888 207 as the net earnings
Subject TO the requirements of the law.
The amount found due the United States
for the fiscal year 1889 was 81 ,076, 139. The
debt of the company on June 80, 1890, was
SI7S. 34S .039, and its capital stock SOC, $685.
500 making total liability of S239. 7l6. 529.
The assets amounted to 1914 3l3 AL.
The liability to the Government BY the
Central Pacific road is given as S53, 1926. 765.
The gross earnings of the aided portion
amounted TO IS 97l GA and the expenses to
81 662 49l, leaving 81 800 122 as the net
earnings subject to the requirements of the
law.
The Sioux City and Pacific Railroad
Company's liability to the Government is
given as IS Gil ,464, and that of tie central
branch of the Union Pacific So, 3SS ,l03.
signal Service Bulletin.
WASHINGTON, November CHA storm
las been developed in Eastern Kansas.
The clearing condition remained nearly
stationary on the Atlantic coast. Another
of great magnitude was developed to the
northward from Montana to Lake Superior.
A light rain has fallen on Lake Superior.
The temperature has fallen in the extreme
Northwest and has generally risen else
where.
THE TEMPERATURE.
CHICAGO, November 6th-The tempera.
ture at O'Clock this morning was reported
as follows: Chicago 4So, New York A., ,
st. Louis $50, Cincinnati 4Se, Winnipeg 100.
Ordnance for Coast Defense.
WASHINGTON. November 6.h.-Bids were
opened in the Ordnance Office of the War
/ Department Today for finishing and as
sembling twelve twelve-inch rif1ed mortars