Oakes weekly Republican. (Oakes, Dickey County, D.T. [i.e. N.D.]) 1883-1898, 1891-05-01
$275,O36 DEFICIT.
Annual Report of tho Union Pacific,
Comparative Stats.
ties.
An Independent Line to Be Built From
Chicago to De.
trOit.
New York Central Employees to Be
Subjected to Technical
Examination.

The Union Pacific issued it's annual
report to Its stockholders on the goth
ult. In some particulars it is made
up upon a slightly different basis from
last year, but it practically follows
the same form, and Is complete in de.
tail like its predecessors. 1t is not as
unfavorable as was expected, the de-
ficit for the whole system being only
S275,036. "This loss," President
Dillon says in his Introductory re.
marks, "is due to the large increase in
the operating expenses OF the system.
The increase in operating expenses is
in part accounted for by the fact that
a larger amount OF freight was moved
at lower rates in 1890 than in 1880.
If the percentage Of operating expen-
ses to gross earnings had been the
same in 1890 as in 1880, the system
would have shown a surplus for the
year OF SO, ,479, ,97e, after payment Of
all charges, instead of a deficit ol
$275.O36. Figures for the Union Pa.
citic proper are based upon the same
mileage as last year, but the mileage
OF the Union Pacific system was
increased January 1, 1890, by the
addition of the St. Joseph & Grand
Island, Kansas City & Omaha and the
0. R. & N. rail lines, and on April 1
1890, by the addition of the Union
Pacific, Denver and Gulf, Fort Worth
q Denver City and Pan Handle rail.
way lines. This brought mileage OF
the system up to 1850, on which
gross earnings were S43,O49,24S and
net Sl2, ,239, 9,O84in 1890, against gross
OF S39,669,6OO and a net Of $l2, 1885,.
047 in 1889. The percentage OF oper-
ating expenses to gross earnings was
71.57 against 65.58. The table of
operations OF the system as given be-
low, however, is madeup on the above
mileage, plus 398 miles of Central
branch and 175 miles jointly owned,
or 81 for Union Pacific, q total OF 475,
and q grand total OF 8,O75 miles OF
rail lines.
Union Pacific proper (1.S21 miles, =:
Gross earnings, $40, O,43S, 2O9, increase,
1862, ,652; net earnings, S7,274,75O
decrease, Sl,O11, 1920; surplus, ST.
8S6,692, decrease, S6O5,748.
Union Pacific system (8,O75 miles,:
Gross earnings, S44, 53S, POI, increase,
50 597 7,13S; net earnings, $780,
066, decrease, $1,394,4e3; total in
come $l3,42O,S5O, decrease $780,
745; total expenditures, Sl3, 1895, 1897,
increase, S32O,O55; deficit, $275. .O37,
against q surplus OF $975,736 last
year.
During the past year S3O1 900 Kan
sas Pacific consolidated bonds and
S7,513,OOO Union Pacific sinking
lund eights have been paid from pro-
ceeds OF land sales, leaving outstand-
ing So, 100000 sinking funds eights at
close of year. The proceeds OF land
sales subject to this mortgage will be
sufficient to eventually retire
all the bonds and leave a
surplus to 49, the company Of
S8,25O,OO0. The estimated value OF
the lands subject to the Kansas Pacl.
tic and Denver Pacific mortgages, con-
tracts, cash and interest to accrue, is
SIG, 1856, ,419. The net decrease in the
Union Pacific company's funded debt
for the year was SS,121,7OO. The
balance to credit OF income amount
Dec. 81, 1890, was SO, ,473, ,989, against
S7,7l4,385 the previous year. The
gross floating debt of the company
amounted to S2l,418,Oo4. OF this
SlO,l62,234 was payable, in which
item there was a decrease OF S2,59l,-
900. The net floating debt was Se,-
874 GAL, against $4,4S9, 563 Dec. 81,
1889, an increase OF 1885, ,432.
Comparative tables OF operations OF
each line of the Union Pacific system
together with the balance sheets are
given as in previous years.