The herald., 1897-11-07
RAILROAD DIRECTORS
REPORT ON UNION PACIFIC
AFFAIRS
Equipment in Good Condition and
Earnings Increasing-British
Plans Concerning the g. P.

WASHINGTON. Nov. 6-The report
of the government directors Of the I'm
ion Pacific Railroad company for the
fiscal year just ended has been submit
ted to Secretary Bliss. A summary fol-
lows:
The physical condition Of the road
continues to show marked improvement.
both in the character of roadbed and in
the condition of the equipment. Dur
ing the year 1896, 1900 tons of new steel
rail were added to the track and during
the current year, 1900 additional tons
have been purchased and are now being
placed upon the roadbed. The eastern
portion of the Union division is being
thoroughly ballasted and the property
from Omaha to the neighborhood of
Grand Island, ia miles, will compare
favorably with many of the first class
eastern roads.
The earnings and expenses for the
Union Pacific railwN proper Q,S22.29
miles) for the twelve months ended
June S0 1897 and 1885, respectively fol-
low:
Gross earnings, $14, 4,944,477; for 1895, in
crease, $S61 ,129; operating expenses, 49,
44S, 1856 for 1897, increase $677 7,21S; surplus
S5,501, ,S21 for 1897, increase $1SS,915; taxes
$573, $40 for 1897, decrease $1,000; surplus
earnings, $4,927.6S1 for 1897; $4,735 for
1896; increase $192, zoos.
ENGINEERS RIGHTS
LITTLE ROCK, Ark, Nov. 6.-The
supreme court of Arkansas today hand
ed down a dicision which is of the great
est interest to the Brotherhood of Loco
motive Engineers. The engineers are all
employed under a contract by which
seniority of age gives priority Of right
to Employment; also that when slackness
of business demands one or more en-
gineers shall be discharged the last en-
gineer employed shall be the first dis
charged. One of the senior engineers
having been discharged brought suit
on the ground that he was discharged
without cause and in violation of his
contract. 1t was conceded that his con-
tract gave him the right to quit at pleas
ure and the court denied his right to re-
cover on the ground that no contract
can be valid that gives only one party
thereto the right to terminate it. The
court holds that the right to rescind or
to retain contract must be mutual.
IT MEANS MUCH
SAN FRANCISCO, Nov. 6.-The En-
aminer will say:
News has been received at Southern
Pacific headquarters here that F. c..
Banbury and j. B. Akroyd, two promi-
nent leaders among the London stock
holders Of the Central Pacific, are ar
ranging to make a trip to California
within the next 30 days. Practically all
Of the foreign holders of Central stock
have given these gentlemen authority
to act for them and their contemplated
visit is considered by the railroad people
as of great significance.
| Banbury and Akroyd are said to be in
accord with the present railroad man
agement. The object Of their trip is
said to be to help to adjust Central Pa
cific finances, and they are understood
to favor a plan for paying their securi-
ties.
AN ELEVATOR BURNED
GOODRICH, Ont, Nov. 6.-The Grand
Trunk elevator containing large guam
tity of grain was destroyed by fire last
night. The fire spread to Dyments &
Rutson's lumber yards adjoining and
from there along the water front. Two
of a fleet of eight tugs belonging to the
Buffalo Fish company, lying in the har-
Dor, were so badly damaged by the float