Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1894-11-13

that has been published during
tie past year. The accounts OF tho
bond aided companies We're examined
~ the bookkeepers in Bos' Cr!-
cAgt AID san Franclsco In tn moiitf5
or Jtrc 5nd July Of the curren. year
anil the amounts found due the Unit, d
states carefully ascertainsd. ler-
.onal Inspection OF the reports " the
,Jnjcn and Central Pacific railroad
companies by the commlssio1rr show
I'd them to be in excellent i'hysiclt
condiSion. The Union Pacific Railway
camIary, including the Kansas dtrif-
ion, shows a decrease OF net earnings
as compared with 1892. Of s2,105,7 id,
The amount found due the United
States under the act OF 1861 KANSAS
dvislon) and the act OF 1878 Union
dlvislon) was S3S7,S90 less than for the
previous year. The net earnings of
the Central Pacific railway company
for 1893 show a deduction of $51052
as compared with 1892. but the amount
Of transportation services rendered
the government (Which is all credited
to the Unltsd States In ascertainlng
the percentage OF net earnings) was
SllO,662 in excess OF the previous year;
consequently the amount found due
the United States IL SII26 In excess
OF 1892. The net earnings of the Sioux
City and Pacific Railway company
In 1893 were S106,i60 In excess Of 1892,
the amount expended for new con-
atructlon and equipment during the
year not having tas in 1882 reduced
the net earnings TO an amount Insult
ficient to pay the interest on the first
mortgage bonds. The amount found
due the United States. therefore, under
the acts of 1862 and 1861 was S5779 in
excess of the requirements for the pre-
,rfa Ha afnh ITulnn
Pacific Railway company, shows de-
crease in net earnings as compared
with 1892 Of si00,ll2 and q correspond
Ing decrease In the amount found due
the United States under the acts Of
iS62-64 OF S510l The commissioner calls
attention to the fact that In the case
OF the Union Pacific Railway com
pany. Kansas Pacific bonds TO the
amount of 100000 will mature on No
vember /. 1895, and between that date
and January /, 1883. the balance of
the subsidy bonds, aggregating about
S32, S99,jl2, will also mature, for whose
payment or redemption the company
has practically made no provision. In
the case OF the Central Pacific. the
aggregate OF whose liability amounts
to upwards OF S5G00O,000. the company
has provided as fund for the re-
demption of the first mortgage bonds
the luuus At lltttlA hNNlldblN Abi AudN
purpose amounting to nearly 100000
Referring to what Is known as the
REILLY BILL" the commissioner is of
the opinion that on the basis of opera
lions for the year 1894 Ito say nothing
Of the strike year OF lS9iD. there Is
grave doubt OF the ability of the com
panes to meet the requirements Of this
bill He recommends that the ad1p-
ton of an amendment to the Thurman
act by providing that the amount OF
net earnings to be retained and APP
piled to the liquidation of the mort
Rage Indebtedness be Increased from
% to 90 per cent. He renews the recon-
mendatlon OF last year that the Thur
man act be amended so as to embrace
within It's provisions all OF the Pacific
railroads which have received from the
United States bonds I'm aid OF con-
struction. The Pullman strike of 1891
having in the opinion OF the commits
sloner, furnished a powerful argument
I'm favor Of the right Of the govern
ment at all times to control the carry
ing Of the mails and to enforce the
provisions of interstate commerce law.
He recommends that congress take
INTO consideration the propriety OF
creating a national board OF railway
arbitration to whom all questions in
dispute between railway corporations
and their employees shall first be sub
mitted before action is had and whose
decision In respect OF all questions
submitted shah be final