The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1904-10-25
RAILROAD NEWS.
The Annual Report of Union
Pacific lis Good.
Shows Large Increase I'm Their
Earnings.
INCREASED MILEAGE.
Statistics and Comparative
Statements Excellent.
Gossip and Matters of Interest I'm
Railroad Circles.

80, 1904, showed an increase of $4,-
100000. and a net gain of $2,454.O0O.
Other income decreased 1853, 200, and
fixed charged increased $4,000. APP
preparations for betterments and adj
diticns amounting to $3,55O,OOO,
compared with last year. The final
surplus of $4,713,45 was smaller by
$780, than was reported last year.
The following remarks were made to
the shareholders by the directors:
The decree in the United States gov
eminent suit enjoining the Northern
Securities company from receiving div
idends on the railway shares held by
it was affirmed by the supreme court
March IA, 1904. Since that date the
Northern Securities company has been
unable to collect the dividends de-
clared by the railway companies and
therefore unable to pay any dividends
of its own. In consequence of this de-
cision the dividend received by the
Oregon Short Line railroad company
ceased with the dividend declared by
the Northern Securities company Feb
ruary 1, 1904. The dividends from
July 1, 1903, to said date amounted
to $2,165, 4O9.75, against $3,574,644.67
received in the preceding year, a de-
other sources of income, however, re-
duced the decrease in receipts, inter-
est, dividends, rentals. etc, to $685.
277.54, as against the preceding year.
interest on funded debt outstand-
ing in the hands of the public in
creased $S36,S52.23. OF this increase
$45S. 333.35 was for interest on Union
Pacific railroad company 5 per cent
collateral notes, and the greater part
of the remainder for interest on Ore
gon Short Line railroad company per
cent and participating twenty-five
year gold bonds on which full years
interest charge had accrued and
dividend payment of one-half of l per
cent over and above the regular semi
annual coupon of per cent paid to
the holders of said bonds February
1, 1904, from the dividends received
during the calendar year 1903, in ex-
cess of per cent on the face amount
of the outstanding bonds. This in
crease in funded debt. however, was
more than offset from the interest,
amounting to $1.464, 917.04, received
on account of the advances by the
Union Pacific company and others.
There were sold during the year $10,-
100000 face value Union Pacific COM
pany's per cent collateral notes ma
turing February 1. 1905; the proceeds
were used in further advances to the
southern Pacific company in the con-
StructiOn of and investment in new
lines, in the completion of the steam
ships Manchuria and Mongolia, refer
red to in the last annual report and in
the purchase of other equipment.
In addition to the above mentioned
short-term notes, the companies have
incurred loans to the amount of 3d.
have large excess in demand loans to
the Southern Pacific company, which,
on June 80, 1904, amounted to 500 46O,-
927.43, in advances for the construction
of and investment in new lines and
equipment aggregating 1927, $50, SO and
In other free assets in the form of I'M
pledged stocks and bonds. as shown in
detail in tables Nos. 6 and Z.
During the year the Oregon Short
Line Railroad company purchased
one-half interest, which it now owns, in
the San Pedro, Los Angeles and Salt
Lake Railroad company. This COM
pany has under construction a line OF
railroad from San Pedro and Los An
geles, Cal, to Salt Lake City, Utah, with
various branches. On account of this
investment, there was paid to June 80,
1904, the sum of $14, 100000. In addition
to this free asset the companies have
advanced $12 593, 14.9S for the construc-
ton of new lines, for the completion of
steamships, and for additional rolling
stock. There is represented in this sum
the cost of 271 miles of completed main
track and SO miles Of sidings, 81 locomo-
tives. IL passenger train cars, 1888
freight train cars, and the completion
of the steamships Mongolia and Man
churia, of a gross tonnage of 1880
tons each. Upon their completion said
steamships were chartered to the Pa
cific Mail Steamship company.
The operations for the year show Il
gratifying Improvement in receipts and
in economy of operations, The excel
lent physical condition of the properties
has been fully maintained, and the in
creased traffic has been moved with q
decrease of 1889 locomotive miles
The average train load was the great
est in the history of these companies
since their reorganization; it reached
an average of 450.90 tons per train,
against 277.S2 tons in 1898, an increase
of 62.9 per cent
The income account compares as fol-
lows: