The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1906-11-30
RAILROAD NEWS.
@--
Detailed Statement Of Big Union
Pacific Year.
Earnings More Than 90 Per
Cent on Common Stock.
HARTMAN ON INCOME.
Shows Conversion of Northern
Securities Shares.
Gossip and Matters of Interest
in Railroad Circles.
HARTMAN ON INCOME.

The Union Pacific report for the year
30 June 30 has been made public in New
York. 1t shows total of SURPRISES and
equities earned for the stock of $43fll.-
283. or over 20 per cent on the common
stock after the payment of per cent on
the preferred, it shows also profit from
the Northern Pacific transaction after
deducting all costs of more than. $73,-
100000, all of which. as Of June 80, had
not been realized, however, and shows
that at the close Of the fiscal year the
Union Pacific had an excess of current
assets over current liabilities that Is 70
say a working capital of more than
2 $100,O00000. large part of which was
In the form of cash and demand loans
BY adding the profits on the Hill stocks
sold during the year to she other sur
plus the total makes about Sc per cent
for the common stock
The report specifically differentiates
between income from transportation
operations and income from investments
and stress is laid on the fact that pei
cent was paid on the common stock
from transportation earnings and per
cent from investment earnings
In figuring the stock earnings, five
things must be borne in mind:
l. The surplus for dividends from
transportation operations amounted to
$21, 434.S5S.
q A reserve for maintenance and re
newals was charged in operating ex-
penses This amounts to s.. 206, $40. and
is, OF course, a common stock equity.
3. The income from Investments was
10,329, SIS. This is wholly a common
stock equity.
4. Receipts from land sales netted
81 $40 900. This was credited to the cash
Improvement and equipment fund, and
is, therefore, another common stock
equity.
g. There was an equity in the undis-
tributed earnings Of the Southern Pa
cific company amounting to SS,500,0o0, |
being As per cent of the surplus of that /
company above its common stock divi- |
dend
Income and Expenses Of Road.
Following is the statement of income /
and expenses for the year ended juno |
SO with the changes from the figures Of /
The preceding year:
Gross trans. receipts So, 2s154s 1885, 594
Operating expenses 95-26llIl 4 $50, 469 I
Net earnings. g., 020 3l2 5966. l29 /
Total charges ...-..-.-.- 10.585,514 ~2.0ls.9S5 I
Avail. for dividends. p. 434. s5S 5l46, 10 I
Pfd. dividends, pct. go, $50, 0S2 SIS (
Balance for common II. $685. 5146,SSS 4
Common div. pct IS, $50 992 IL. 142
Total other income. 10,82e,sl6 1888 ,957 /
Total surplus -,...--.-... II, 232. go 533. s03 /
Final Final s2Ppius 4astons sos2258 si3.ssS
Previous surtlfs s4s76s.775 t-T.0s9. So
Profit and loss surplus. 42 796'o25 1852. 81 /
Decrease **Includes dividends pre-
ferred stock Of Oregon Railroad and
Of s2sS in 1896 and $454 in 1905. n
Hartman Makes Statement.
In his statement to the stockholders.
E II. Hartman. president of the road II
announced that in exchange for 100000
shares Of the stock of the Northern
ceived 29.s6S.3 shares of preferred
stock of Great Northern railroad 38,- III
877-3 shares of Northern Pacific COM
mon and 1000 shares of Northern Sc
rights given to the Great Northern
railway stockholders. The Oregon
Short Line Railroad company acquired 4
37.444 shares of preferred stock of
said company There were sold during
the year stock of the Northern Securi-
ties company to the amount of $780,
600 par value. preferred stock of Great
Northern Railway company to the
amount of 100000 par value, COM
mon stock Of the Northern Pacific
company to the amount of S14.S3O.0S2
par value and stubs Of the Northern
Securities company to the amount of
S14 S30,082 par value and SSH par
value. The amounts realized were
credited against the cost of the stocks L
owned. the proceeds used in the CON
struetion and acquisition of new lines
and in the purchase of equipment and
other property. The common stock
was increased by s30,e04.990 and the
preferred BY S17.154 making a total
Increase of $30.587.836. The funded
]
was decreased by $2S,413,O0O.
Other Sources Of Income.
Concerning the company's "other in
come Mr.. Hartman said
Income from investments l. e. in
come from interest. dividends and
rentals. and from sources other than
transportation operations, amounted to
Sl0.32s,S15- This sum will probably s.
be increased by more than 100000
on receipt Of a full years dividends on
tn common stock of the Southern Pa
cffic company, by the increased Yield 6
from reinvestment of the proceeds
from the sale of securities and by re
ceipts from other investments. The
board Of directors therefore decided 10
declare a dividend of per cent from ,
the income from investments. in addi-
ton to the dividend of per cent de-
clared from the operations of the rail-
ways thus increasing the semiannual {
dividend payable October l. 1906, to 5
Ger cent" /
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