The Red Cloud chief., 1895-10-11
THE PACIFIC RAILROADS
Commissioned Wade Hampton Makes
Ills Annual Report Thereon.

His Annual Report Thereon.
WASHINGTON, Oct. 4.-Wade Hamp-
ton, commissioner of railroads, has
made his annual report to the secrc.
tary OF the interior. lie say that
during the hard times the gross re-
ceipts OF the Union Pacific system was
reduced Si,O0O,0 600 a month below the
normal. He also says that a cast-iron
rule as to payments cannot be OBJ
served, and thinks there should be a
flexible adjustment Of annual pay
ments to Correspond with diminished
earnings He thinks that the Thur
man act will be found 10 Justify the
expectation Of its its trainers, Ii the
following amendments ure made:
First-To embrace within its pro.
visions all Pacific roads which have re-
ceived from the United States a loan
OF its bonds In aid Of construction.
Sccond-To provide that so per cent
instead OF % per cent of the nat earn
ings he retained.
Third-To extend tho debt till IL
shall have been discharged us pro-
vided.
Fourth-T further provide that IL
any OF the companies abandon any Dor.
ton Of the subsidized lines or divert
their business from a subsidized TO an
unsubsidizcd road, the shall,
III such cases, be required TO %transfe-
the lien and condition which attached
To the old or subsidized line to the
new and unsubsidized line, in order
that the rights and interests of the
United States may be projected.
The COR missioner believes that such
legislation will hasten the payment of
the companies indebtedness, as they
are ANXIOUS tn be freed from govern
mental supervision.
The commissioner also rencws his
recommendation relative to q revised
system OF accounting by the Pacific
roads.
IL the recommendations previously
made that the Thurman act DO
'Nnended be not accepted as an alter
native, he recommends that a COM
mission DO appointed by the president
to settle the Indebtedness of the bond
aided railroads.
The commissioner further recon.
mcnds the order of the treasury de-
partment which directs that compcn-
sation services rendered the govern.
ment by the non.aided md leased
lines OF the Union Pacific company be
paid to the receivers of the roads in
cash and not retained In the treasury
as formerly.
The commissioner refers to the fact
that there has been great Improvement
In conditions since his last annual
report, and that there Is an increase of
earnings of roads under his supervis-
ion. lie reviews the financial condi-
ton of the Union and Central Pacific
railways and SAYS the debt of the
Union Pacific to the United States Is
500, O05, O63, with a total liability of
Sls7, Ss3, 800; the debt of the Central
Pacific 10 the United States is ST., 734,-
0s3, with u total liability of $751; 33,.
le2. The commissioner says that the
bonds of the Central Pacific, which
fell due on January 10, 1895, were to
have been paid by tho company. but
rs u matter Of fact, were paid out Of
the general funds of. the United States
treasury. He said that this payment
may be- reimbursed from the sale of
bonds in the sinking fund, but there is
not sufficient market for the sale Of
such bonds tn cancel onc-teuth part Of
the debt. The properties of the two
roads are reported in good condition.
Commissioners Hampton, reviews the
attempt mt Pacific railroad legislation
IN the last congress, and says: THE
results OF the past two years have
shown that during a period of finan-
cial and industrial depression, It would
DO impossible for the Union Pacific
company to meet the annual fixed
charges, in addition to other necessary
and inevitable expenses. of such an
amount as would be required ia dis
charge the debt OF the United States
in fifty years at 8 per cent, rs proposed
In the Reilly bill, or yer . per cent,
which the representatives of the COM
pany were understood to be willing to
accept. Some regard should be had
FOR such conditions as have existed and
which urc likely to arise again"