The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-12-05

80. 1896, as follows: Union Pacific lin
Guiding Kansas Pacific) principal On
bonds issued s32. 539, 512, on which in
terest has ACQUIRED 10 the amount of
S57, Oh, 1914 If on this there should
be credited the sum off 1851, 070.53,
applied TO the bond and interest" and
sinking sfund'' accounts, and interest
on the latter, the balance of debt on
the above date would be $50, 600, 1885.
Central Pacific Gncluding Western Pa
cific) principal on bonds issued. $21,-
S55. $50; interest accrued, SAC, $50, 1888;
total credits, consisting of bond and
interest and sinking fund" accounts,
together with interest on the latter,
SIG, 167, 1895; balance of debt, Off these
credits be allowed). SIS. 2S2. 0O9.42.
Sioux City & Pacific: Principal of
bonds, S1,62S. 800; interest accrued, 81,
734, 3S7.09; credits on account of trans
portation. s246. 659.49; balance of debt.
$4116, 074.60.
Central branch Union Pacific: Prin-
cipal of bonds issued. 81. 600,000 ac-
crued interest. SITS. 60S.26: credits,
1924, Ss4.SS; balance of debt. So. 735. 3.3S.
The report of the commissioner of
railroads gives full information con-
corning the physical and financial con-
dition of the railroad companies. He
gives a summary of the provisions of
yet called up. After reviewing other
subjects. the commissioner gives it as
his judgment that il is much better for
the government to accept q lump sum
in cash for its claims against the roads.
The secretary does not agree with the
contentious of the Central Pacific that
their road is not in default with the
government, and that if it We're the
lands are covered by the government
1r,r-tcr no no hal 70
the same. On this point, Secretary
Francis does not agree with either
statement. and he declines to patent
lands TO the Union Pacific RAILROAD or to
the Central Pacific road except in cases
where it can be shown that the lands
for which the patents are asked have
been sold TO bona fide purchasers. and
here the secretary says:
InaSmuch as the subsidy bonds is
sued by the government to aid in the
construction of these roads are falling
due from time to time. and must be re-
deemed by the government as they ma
ture, while the roads are unable TO re-
imburse the treasury for the amount so
paid. and for the further reason that
bill is now pending in congress pro-
Viding for a funding of this indebted
ness, deem it the part of prudence for
this department to retain whatever of
the property of the roads il may have
in its possession or in its control, until
there shall be an adjustment of the
amounts due the government
The report of the government direc-
tors of the Union Pacific Railway COM
pany gives q comparative statement of
earnings and expenses for 1896 and
1895. from which it appears that the
slight increase in gross earnings is
more than. offset by the decrease in
operating expenses.
NICARAGUAN CANAL.
He refers to the fact that the act
chartering the Nicaragua Canal COM
pany requires the company to make
report on the first Monday in Deem
Der each year, to the secretary of the
interior to be verified on oath by its
president and secretary. A preliminary
statement has been submitted by the
canal company, showing that no work
has been done on the canal since Aug
ust, 1898. The Maritime Canal COM
pany entered into contract with the
Nicaragua Canal Construction COM
pany for the construction of the canal,
but the latter company became finan-
cially embarrassed in August, 1893, and
subsequently made an assignment of
its construction contract and all its as
sets to the Nicaragua company, a cor
poration chartered by the state of YER
mont. 1.-THE latter company has not
yet found itself in position to resume
the work of construction under its con-
tract"
EXTENSION OF BUILDINGS.
The secretary wants an extension of
the building accommodations for his
department. He closes his report by
saying: sSs
Il earnestly recommend that con-
gress take immediate steps looking to
the purchase for condemnation of a
block or more of ground adjacent or
contiguous to the interior department
building for the erection thereon of an
other structure to meet the present
necessities of an important branch of
the government, which must expand
and grow with the development of the
country's resources.
1.-THE area of our country. the va
riety of its products, the diversity of
it's interests, the trade and social re-
lations between localities and classes
of people make its internal commerce
of enormous magnitude, and must from
time to time necessitate enlargement
of it's existing government bureaus and
the establishment of additional ones.
Provision for the accommodation there
Of cborr11 M lon no daIa yra6