The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1892-04-28
Union Pacific Earnings for 1891.

BosToN. April 27.-The annual report of
the Union Pacific submitted to the stock
holders at the annual meeting to-day shows
for the year 1891, the gross earnings were
1852, 900 against $40, 43S, 900 in 1890; sur
plus earnings $7,S46 900 against S7,274, 600
the previous year. Proceeds from other
sources make the total income $40, 442. 600.
Deducting the total charges. the balance is
100000, an increase of $23, 900 over last
year. The gross floating debt was de-
creased GA, 800, 600 and was at the close of
the year, the balance in current assets.
81, l6S,OOO, against net floating debt at
the close OF the preceding year of 81, S74, 900,
This is equivalent to a decrease in the net
hosting debt or an increase IN current
assets, OF SIS, 063, 600.
The auxiliary lines show gross earnings
OF 50, OH, 900 against $22 Gil 900 in 1890, and
surplus earnings s., 692, 600 against 81 S63 :
600 the previous year.
The following statement shows the re-
suit OF the operations of the entire system,
:, l4T miles OF railway, including results
from the operations of the steamships of
the Oregon Railway and Navigation COM
pany: Earnings S44,006,0O0, decrease of
SOB, GOO; expenses SIS, $50, coo, decrease of
Sl.95O,O0O taxes $1,5S0,000 an increase
OF Sl,700; surplus earnings SI3. 745 900.
an increase of 81, 406, 600; total income SIS =
54O, 900, an increase of $1,9l9, coo; charges.
S14,275,ooO. Balance of income for the
year s., O65, 600, against deficit of S275, 600
In 1890, an increase of 81, $40, 600
Earnings from passenger traffic show
decrease OF $780,, 0OO, or over per cent.
This large decrease is accounted for locally
by the business depression resulting from
the crop failure in 1890 in the territory
between thes Missouri river and Rocky
mountains and generally by falling off in
excursion and tourist travel.
The total funded debt Is S227, 52S. 600.
Total amount of cash T. ceipts in all the
land departments, 1927 GOO; gross land
sales, $l3S,O00; net land sales after cancel
Iatlon, 81, S5l, and the company had by can
collation. made net increase on its land of
2, 400 acres.
The number of stockholders appears to
be reducing. Ii was 1854 two years ago:
1890 year since, and 4,6l5 at the
close Of 1891. The amount realized
from sales of bonds of the Oregon Short
Line and Utah Northern, Denver g. Gulf,
Omaha Il Republican Valley and Oregon
Railway q Navigation company aggregat-
ing S160,O0O was expended in part for the
construction of line, betterments, improve
ments and equipment, the construction of
terminals, for the Omaha & Denver, and
purchase of the Oregon Railway & Nayiga-
ton stock and bonds.
The result of the balloting, which was
not announced until this evening, was the
election of the following directors: Fred
erlcK l.. Ames, Edwin Z. Atkins, Samuel
Carr, Henry H. Cook, F. Gordon Dexter,
Sidney Dillon, Grenvllle Nj. Dodge. Mar.
vim Hughitt, Henry B. Hyde, Joseph H.
Willard, Alexander E. Orr, James Sharp,
Z ardlner M Lane, Jay Gould and Russell
sage. The meeting then adjourned.
-. I'll. Ii, Clark Of Omaha Canaral
ager Of the Union Pacific, was on the d.
rectors' ticket, but was defeated by Gar
diner NJ. Lane from the opposition
ticket, but Will probably be placed
on the board by the other direct
ors. and may possibly be elected
president. Two other directors besides
Lane on the opposition ticket were Charles
G. jackson, of Boston, and Marcus A
Hanna, of Cleveland, who were defeated.
The foreign ticket appears to have been de-
feated by 10000 votes. The election was
decided in favor Of Gould by the proxy of
Borthwick, Wark 81 Co., of London, for
about twenty-six thousand shares This
house had given proxy TO Boissevain. but
later TO /. q S. Wormser, their New York
correspondents, which, it IS said, they re
quested should not be made in favor of
Gould. Wormsers, however, turned their
votes to Gould, thus turning the election
and retaining Missouri Pacific officials in
the management of the Union Pacific.
AT directors meeting subsequently
Samuel r. Carr resigned as director and S.
II. FL. Clark, of Omaha, was chosen to fill
the vacancy. Sidney Dillon declined re-
election to the presidency and Mr.. Clark
was elected in his place, Mr.. Dillon being
elected chairman of the board, position
C Gated for him. Edwin f. Atkins was
made vice-president to succeed Mr.. Clark
and the latter made q member of the
executive committee in place of Russell
Sage. Comptroller Oliver W. Mink, treas
urer, James @. Harris, and all the other
officers were reelected.