The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1899-01-13
AMONG RAILROAD MEN
Capital Stock Of the Union Pa
cif1c to Be Increased.
THE OREGON SHORT LINE
President Burt Insists That There VIII
Be No Change in the Present
Managem snt - Shippers
Are Watching.

| capital stock to the amount of s27. 400, :
| 100, making the total capitalization of
| the system $163, 100 Of this capital
stock 1t is provided that 100000 shares
| may be issued as preferred stock and
| the balance as common stock
| In an interview President Burt reit-
| Grated his previous statement that no
| change was contemplated in the pres
ent method of operating the Union Pa
| cific and Oregon Short Line
The roads," said he, ARE on very
| friendly terms, and | trust will remain
So out as to any changes being made,
| Know of none; we should have no
OBJECT IN making any, had we the pow
| err"
| ASKED concerning the report that the
| Union Pacific people would now take
up snort Line stock certificates, Mr..
| Burt SAID that whatever stock was cx-
changed would be among individuals.
ana would not be through company
transactions. He further asserted MS
belief that theUnion Pacific would re-
tam enough Short Line stock to main
tam the present friendly relations be-
tween the two companies
railroad transportation is constantly
becoming more Improbable for those
engaged in the business. Within the
last 5U years rates have been reduced
enormously, and they still have a down
ward tendency. Figures have been
compiled showing that the average rate
per ton mile received by 80 per cent.
OF the total railway mileage for the
united States for the year 1897 was
elght-tenths of a cent Such rates as
THESE leave little or nothing in the
business for the stockholders If the
earnings of the roads for the year men
toned had been applied to the payment
or expenses and interest, and had the
balance been divided UP among the in
nao1tants of the country, as many OF
the populfsts appear to think should
De zone, the result would have been
that each person would have received
the enormous sum of SO cents Over 70
per cent. of the capital stock of the
ROADS received no dividends at all. The
entire amount paid in dividends for the
year 1897 would only yield II per cent.
on the capital of all the railroad COM
panies. Returning to the actual reduc-
t1on in rates, however-fn 1867 the rate
on dry goods, boots and shoes, drugs,
tea and large variety of other articles
was Sl.31 per 100 pounds. In 1897 the
rate on all these articles had fallen 10
IS cents per 100 pounds In 1858 the
transportation charges on grain from
chicago to New York were 80 cents per
bushel, says the Chicago Times Herald.
In 1897 the tariff rate had fallen to
about II cents per bushel, and it was
actually cut in two again the greater
part of the time. Railroad managers
nave made up their minds that railroad
rates are down to stay, and they are
turning their attention to the reduction
of operating expenses to offset the loss
es which have thus to be met.
inc carrying capacity of cars must be
increased, the hauling power of locomo,
tiVes must be added to, grades must I e
reduced, lines Strengthened, heavier
rails must be used, and the physical
condition of roadbeds improved in every
conceivable way. With ali the econo-
mics that can be introduced the roads
as whole will have all they can 60
to secure even moderate returns FOR
their stockholders.
Shippers are Watching the railroads
and wondering how long officials will
keep falth in their reform movement
and maintain the east and westbound
rates that are advanced All have
agreed to hold rates up to tariff, and
II the promises made by the officials
are kept good, shippers will have to
pay more money to have grain and all
kinds of merchandise moved If rates
are maintained for 80 days it will be a
great surprise. Every railroad man,
however, looks upon the situation as
full OF great promise for a large traffic.
Nearly every road in the West has laid
out plans for improvements during the
year, and will need all the money that
Is available About every Western line
is figuring how it can increase train
hauls and keep operating expenses
down. There is general disposition to
reduce grades on many lines, and other |
are contemplated which |
will require stability of rates to carry |
out. None of the roads are spending |
money unnecessarily, and are getting |
railroad1ng down to science BY |
spending their money now for better |
ments of track and equipment they
hope to increase their earnings and re- |
duce operating expenses.
A conference between the Canadian |
Pacific and the western roads has peen
arranged for January II. 1t will be
heid IN chicago, and is expected to re-
suit IN an arrangement of the differ
ences that have existed between the
interests named since before the out
break Of the recent Canadian Pacific |
rate war. These differences now re-
late principally to the immigrant traffic, |
The result of the war referred to was
to place the Canadian Pacific outside
ehS "eSteiA Immigrant clearing house,
1t has not yet been readmitted, In |
consequence it has to fight for all the
traffic it can secure, single
handed and alone, and it is thus put to
much heavier expense than would lie
the case were 1t a member of the clear
ing house. All its interests now lie in
securing an agreement which will read
NIT it to membership in the clearing
house.
The Great Northerns statement Cor
December is as follows:
1898. 1897
st. P, M. & M. leased
lines.... :. ISL, S10,62S $1,529, o66
East by. OF MIMI. pa, 391 53,4S0
Mont. Central ... -. Ill., $50 19S43S
Total for system. So, 232, 70S $11S11S4
For six months to December 81
st. P, NJ. & M. leased
Illness. -. 81, 545. or $40. G42
East Ry. of Mimi. 1,93S,24 1,3006G1
Mont Central ma