Sacramento daily record-union. [volume] (Sacramento [Calif.]) 1875-1891, 1890-05-03

Conducting transportation shows de-
crease of 1872. 712 03. For the COST Of VS.
ion there was an increase OF $40 5l3 05,
making decrease for the remaining lines
of the system of $1,022.225 0S, which
amounts to s "a per cent. Comparing this
result with the work dope. slows de-
crease in train miles OF 10 35 per cent; IN
car III. es OF Is SO per cent. TIE decrease
in freight ton miles is ID 50 per cent, while
in passenger miles there is an increase OF
80 per cent.
An increase is shown in general expenses
of $lS5, 04S 81. The following are the
principal items: Increase in charges for
traffic associations and other items
connected with traffic. S57 .692 IS; increase
in advertising, S20,571 IL; in rents, S2l,-
153 "a, and insurance, SIS. 927 S3. This
last item of increase Is from the expense of
blowing along the track in 1889 over the
same charge in 1888 to protect grain fields
and other property from fires caused by
sparks from locomotives. The variations
in the remaining items are for the greater
part caused by the change in the classical
ton of operating expenses, and the varia-
ton in their distribution before the receipt
of the printed rules from the Interstate
Commerce Commission covering the sub
ject; to a less extent the variation results
from an increase in the actual expenditures
for general supervisor and clerks, resulting
from the increase OF 206 So miles of road in
the average length OF lines operated.
On the Atlantic system there was net
increase in passenger train earnings OF
| $3.50, 402 SO. In freight earnings there was
an increase of 5000, 77S 81. The local
freight earnings show an increase of $50
per cent. in traffic accompanied by de-
crease of II 30 per cent. in rates. The
principal causes of this result were excel
lent crops and general prosperity in the
State of Texas, and, as consequence, I'M
usual activity in milling and other manu-.
featuring interests sat the same time re-
cent legislation has declared criminal all
agreements between carriers for the main
tenance of reasonable rates within the
State, thus encouraging rate cutting and
ruinous competition
There was an increase in earnings over
operating expenses of Sl63, 734 AZ.
The deficit paid by the Southern Pacific
Company to meet the Central Pacific guar
anteed rental amounted to 1897 lie Is.
For the California Pacific the deficit
amounted to S206, 2S9 81 in 1889, compared
with S10,949 y in 1855; the more i'm.
portant causes for which increase were the
expenditures made in 1889 for personal
damages and for rebuilding the wharf aud
| buildings at South Vallejo, on account OF
| the steamer Julia accident, which occurred
/ in the previous year.
| The net surplus for the proprietary lines
before the final distribution of net profits
under leases was, for 1888, 81 ,647 1874 IS
and for 1889, 81, 735031 y. After deduct.
| ing the proportion of same entering into
account of the Southern Pacific Company
| there remains for the proprietary compa-
mics for 1888, 81 1853 $50 80. and for 1889
| 81 SOP 466 SO. The income by roads for
| the two years shows fair surplus for the
proprietary lines, while the net result for
| the non.proprietary lines, after meeting
| the rental charges, is deficit for each oil
| the years.
| The gross earnings of the entire system
in 1887 were SSS, 732. 13I 03; in 1883, So.
| 6996l5 II; in 1880 SAG 343, 207 so.
| In reference to the Central Pacific Rail
road is the following:
| Notwithstanding the reduction of s217 6i2 i:
for betterments and additions in 1859, compared
with 1883, the less favorable returns from mel
earnings, still Leaves balance of 1924 ISL So
| payable by the Southern Pacific Company to
/ meet the guarantee rental. There was returned
| to the lessee an accumulated SURF lus in certain
of the sinking funds sSf9, S3S S. being in excess
| OF the sum required to redeem the bonds fol
which said sums were provided, and payments
| covering such excess having been currently
] paul lutO lie IluuS Dy the SOulnern racine
Company. II it were not for this unusual item
| the deficit to meet tne guaranteed rental would
have amounted to s70i4l5 Al.
There remained due from the United States tc
/ the Central Pacific Railroad Company on De
cember 81, 1859. for transportation on non-sided
lines, prior to the lease to the Southern Pacific
| Company, Sl,C6s,l6l 81. There is also due tC
| the southern Pacific Company, for transporla
tion since the lease, 81 sol 466 Y, making tota
| of 81 93) ,62S 80 for cash due the COMPANIES il
excess OF all requirements of the several Acts o
| Congress, withheld by the Government in viola
ton of equity as reported by the United State
| Commission of Investigation, and of law as de
cided by the Supreme Court.
After calling attention TO the work of thu
United States Senate Select Committee or
Pacific Railroads and the bill now before
Congress providing for the payment of th,
debt, the following statement occurs il
4 President Stanford's report to the stock
holders:
The payments under the bill as calculated il
Il the report of the committee would be as follows