The record-union., 1893-04-27
RAILWAY WORLD.
BITTER WARFARE IN PASSENGER
RATES BEGUN.
The Denver and Rio Grande Makes a
Reduction of Seventy Per Cent. in
Fares to Southern Points.
Special to the REcoRD-UN1oN.

Special to the RECoRD-UNIoN.
CHICAGO, April 26.-The first blow of
what may be a long and bitter warfare in
Western passenger rates was struck to-
day when the Denver and Rio Grande
announced that it had decided to put into
effect 20 per cent. reduction in rates
from Denver to Santa Fe and other south
ern points, in addition to the rate of S45
announced from Denver and Colorado
common points to Chicago. The rates
are announced to take effect over the
Missouri Pacific, and it is understood
they will also be taken on trains of the
Burlington and Rock Island as well.
The Atchison has notified the Chairman
of the Western Passenger Association
that it will withdraw from the association
on May 10th and meet the rates made by
the other roads, and if the Western pas
senger lines east of the river make re-
ductions it will meet them at once. 1t is
further announced that unless the re-
ductions are withdrawn by Saturday it
will make through rate from Colorado
to Chicago on the same basis as the Rio
Grande.
THE UNION PACIFIC.
Boston, April 26.-Charles f. Choate
presided over the annual meeting of the
stockholders of the Union Pacific Rail-
way Company and called it to order this
morning in Horticultural Hall. The
meeting was to elect directors and vote
upon the proposed change of the bylaws
so as to provide for the creation of the
office of Chairman of the Board of Direct
ors, for the annual election of such officer,
and prescribing his powers and duties.
The directors ticket was the same as
that of last year with the exception of
George j. Gould and Sidney Dillon Rip
ley, who fill the vacancies caused by the
death of Jay Gould and Sidney Dillon.
The report was the most favorable the
stockholders had received for many
years. The company earned about 81 per
cent. on the capital stock, which was
twice the stockholders surplus in the
previous year, and compares with de-
ticit of $4,000 in 1890. Out of s., ,069, ,757
suplus for the year, 81 1856, 800 remain in
the form of actual cash, the total cash on
hand December 81, 1892, being So, $50, ,17S.
The reduction in the expenses has been
qulto SSHeIdl. Liz luuueu QoDC OF the
system in the hands of the public is, less
the current resources due from individu-
ais and companies outside the system,
500, ,55S, ,24S, or an average per mile of
S2S, ,712. The cash receipts in all the land
departments are Sl,546,3l2.
The amount of stock in Massachusetts
and New England shows slight increase
over one year ago. New York has some
what increased, while foreign securities
are correspondingly diminished. The
in all these cases.
The directors were reelected and the
new bylaw adopted by 2S7, 1886 votes, the
foreign vote not appearing, as the books
abroad were closed too late. The direct
ors then elected the old officers, and
chose Alex Z. Orr of New York Chair
man of the board. The directors elected
committees substantially as last year.
G. NJ. Lane was added to the Finance
Committee. Comptroller Oliver W.
Mink, on motion of Ames, was made
also Second Vice-President. This office
has been vacant since Lane left the COM
pany's service. E. E. Atkins was elected
First President.
PRESIDENT OF THE MEXICAN CENTRAL.
TOPEKA, April ga. A. Robinson.
Second Vice-President and General Man
ager of the Santa Fe. has accepted the
Presidency of the Mexican Central. The
headquarters will probably be at Boston.