Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1903-08-04
OUTLOOK FOR
UNION PACIFIC
---------------
Directors Hopeful That Regular
Dividends Will be Paid,
CONDITIONS IN THE WEST.
AZ Meeting In New York a Director
Reports Work on the Lncin cut
on Progressing satisfactorily.

The directors of the Union Pacific
Railroad company yesterday declared
the regular per cent semi-annual div
idends on the common and preferred
stocks payable oct /, The books Of the
company close Sept l and reopen Oct.
II, says the New York Herald
Mr.. Horace G. Burt president who Is
In the city in connection with the
meetings, reported that the conditions oil
the west, particularly along the line OF
the Union Paclfc road. were highly
satisfactory Speaking Of the corn crop,
he said that, so far as his obserya-
ton went, while II was likely to be
short. it was not wholly unfavorable,
some points showing up exceedingly
well as against poor spots elsewhere
MIR. Burt declined to specify the pur-
poses for which the Union Pacific re-
Gently negotiated the ten million dollar
loan beyond reafiirming the statement
recently made that the company's cred
It had been utilized In favor Of the
Southern Pacific road. The nature Of
the acquisitions which were mentioned
at the time the announcement was
made OF the company borrowing have
never been mentioned.
One Of the directors Of the company
yesterday elaborated somewhat on Mr.
Burts references to the successful con-
dltion OF the road. The companys
forthcoming statement, he said, would
show about II per cent earned for the
common stock Independent Of the
charges for carrying the Southern Pa
cilic holdings. II these were charged OIL
to other accounts than operating eX-
penses the road would show earnings Of
IA per cent on the common stock The
satisfactory traffic returns, he remark
ed, were a surprise, even TO the dlrec-
tors. and more so than ever IN View OF
the long continued machinlsts strike
on the road. Operating expenses had
increased but the company, he remark
ed, would add about $500 600 10 It's net
surplus, from an increase OF about w.
100000 In gross earnings.
Speaking Of the rumOred requirement
Of additional holdings In Southern Pa
cific stock by the Union Pacific as a
result of the Talbot J. Taylor a Co.
failure, II was definitely stated that the
Union Pacific had not increased its
holdings The company already holds
$50 0O0 600 Of the 5000 100000 stock, and
for purposes which viii appeal TO all
who recall the courts decisions in the
Northern Securities case, It viii not IN
crease these TO an absolute numerical
majority. II was not denied that on the
break in Southern Pacific stock, inter
ests friendly to the Union Pacific had
bought but such purchases 1t was az
frmed, were not made through negotla-
lions with the Keene-Tayior party, but
in the open market The impression was
conveyed that the minority holdings on
which the fight was wagei last winter
were not now considerable.
Speaking OF the reported unsatisfac-
tory results attendant upon the salt
Lake CUTOFF, where It is alleged trains
Of cars and locomotives, and crib ano
trestle work sink into 1uagmire am
disappear from view 1t was stated thai
the rcports were merely sensational
canards. One Of the directors 10 salts
fy himself on the point, reported that
he had visited Salt Lake city and in
spected the work. He had proceeded In
mis- private car eight miles out on the
trestle and had found II absolutely
firm. The work was admittedly o diff
ficult engineering feat. but would be
successfully accomplished and a great
saving to the company in the end.