The record-union., 1891-04-09
RAILWAY TOPICS.
Report of the c. B. and Q.-Stories
About Willard.

About Willard.
BosToN, April S.-The annual report of
the Chicago, Burlington and Quincy
Railroad is given out this morning. No
mention is made of the Burlington and
Northern. The gross earnings are ST.
10000; operating expenses, taxes, rent
ais, interest on bonds, etc, $50, ,193, 900; net
earnings, s., ,533, 900; added to this were
the interest dividends received and the
net land receipts, making a total of 3d.
5lI 900. The dividends paid, 5 per cent,
S., $50, 600, leaving deficit of $50, 600.
The report says: $50 large a part of
the country served by the company's
lines depends on the corn crop that any
serious damage to that staple must affect
its business. The effects of q bad crop
can be only temporary, however. Our
more serious difficulties come from the
laws which do not allow us to do business
on business principles. The law prohib-
It's pooling. the most convenient, if not
the only effective, form Of associated ac-
Ilon, and 1t remains to be seen whether
amy substitute can be found to check the
tendency to unreasonably low prices
which always prevail with independent
action. Without some method OF effective
cooperation competing lines must be-
como bankrupt and in the end consoli-
date. There are signs of a growing belief
both in and out OF Congress that the in
terstate commerce law should be
amended. The law has cost and is cost
ing the country millions of dollars, and
that the public can find it for its interest
to long maintain laws which make that
property unnecessarily and unnaturally
hazardous and Improbable would seem
impossible"
STORIES ABoUT WILLARD.
NEW YORK, April S.-PresiGent Oakes
says: Willard and his friends never
We're Directors in the DeutSche Bank, and
consequently could not be invited to re-
sign. Willard has not sailed for home,
but is travelling somewhere on the Cont
nent with his family. He is not expected
here before June lst. | can only attribute
the fall in the stock to false reports in
dustrlously circulated in regard to the
affairs OF the company. Northern Pacific
affairs were never III a more satisfactory
condition than to-day. The earnings the
first three days of April are $4,000 ahead
OF the same days last year. The outlook
for business Is the most tiattering.'
LONG ISLAND SALE.
New YORK. April S.-The Herald
states that Austin Corbin has bought So
060,000 worth of the stock Of the Long
Island Railroad, held by President
ii. NJ. Twombley, brother-in-law of the
Nanberbilts, sought to buy.
ALTON BOYCOTT BILL.
New YORK, April S.-A Washington
special says: The Interstate Commerce
people say they cannot give any opinion
on the legality of the Alton boycott bill
until possessed of all the facts and both
sides are heard.
NEW BONDS.
BosToN, April S-A circular was is
sued from the Atchison office to-day to
the first preferred stockholders of the st.
LOUIS and san francisco Railroad Com
pany, in which it is announced that to
provide for certain deficiencies, which
are given in detail, and to place the COM
pany and properties in sound financial
and physical condition, the management
OF the st. Louis and San Francisco Rail
way Company has decided to issue new
consolidated 4-per-cent. gold bonds COW
ering ali the properties, equipment, land
and realities, in the amount Of S50,0O0,0O0
subject only to prior liens of the present
outstanding mortgages, securing the
bonds, which will be gradually retired by
operation of their respective sinking
funds and maturities, and will be re-
placed by the new bonds.
GOULD AND THE UNION PACIFIC.
ST. LOUIS, April SIN published in
terview, Gould is quoted as follows, in
reference to reports as to the proposition
10 issue blanket mortgage covering the
Union Pacific debt: Yes, l think that
when the stockholders meet, toward the
last of this month, they will have some
thing to offer in that connection. A bond
covering the entire property and low
rate of interest would be the most adj
vantageous. L think the Union Pacific
has 5000 miles of track; only ], 400 miles
of this is covered by the Government
line, which amounts, in round numbers,
to less than the sinking fund, to S50,000,
eco. Now, as a matter of fact, it would
not be such terrible thing TO the COM
pany if the Government did take the
San Francisco and Portland, / 400 miles,
and we had to reconstruct gaps in order
TO round out the system. But | think we
will offer a blanket mortgage which will
take care Of the Government lien as well
as of other securities Could was shown
plans for the new Union depot and tracks
leading thereto, and after thorough ex-
animation approved of them ana gave
! instructions that everything be done to
hasten and expedite the work on hand.
CHICAGO, MILWAUKEE AND ST. PAUL.
CHICAGO, April g. The story teIe-
! graphed from New York that Cornelius
! Vanderbilt is likely to enter the Directory
of the Chicago, Milwaukee and ST. Paul
| railroad is received with a good deal of
| credence here, and has revived the old
/ report that the road in question is TO be
/ consolidated with the Chicago and North
/ western. a man whose predictions are
/ usually based OF good Judgment said to-
/ day that he thinks the Vanderbilt inter
/ ests Will soon begin to exert an influence
4 in the management of the st. Paul, and
/ that sooner or later a consolidation or a
! very close relationship Will be estab-
/ lished between that road and the North
/ western. This would be most import
/ ant matter.
SUPERIOR COURT.