The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-09-05

cussed al Two meetings of the board las,
June. the advsabllity OF declaring the
usual semi-annual dividend OF 81 per cent
on preferred stock, and concluded That
current income should first Of all protect
the guarantees OF the company as Wcll
as its fixed charges. and. after careful
consideration they unanimously decided
to follow d strictly conservative course
and forcgo declaring the dividend, apply
ing the amount S1,2i4, 496, in payment Of
the semi annual interest. S24S.l2b. due
September |. 1911. on 500 000. 900 of West
ern Pacific first mortgage per cent gold
bonds OF which all but $4,000 have been
issued, II was deemed best TO follow this
extremely prudent policy, conserve the
cash resources OF the company, as well
as other treasury assets. and insure be
yond question its ability 10 meet It's
guarantee on the bonds and also protect
its $50 900. 600 of Western Pacific stock.
There was expended for additions and
bctterments, other than equipment.
81 2l5, SO, of which sl.SS5 J05.I was
for additional main tracks. and bridges
and oth,r structures incident thereto;
yard tracks. and s25S.3lS for general road :
way improvements, buildings. additional
weight OF rail, and miscellaneous facili-
ties. The expenditure for new equDme nj
was sl.0S4.Gis.01; making the aggregate
expenditure for additions and bettorments
To roadway and equipment So 299. 70S.9S.
To meet the requirements Of the COM
pany there were sold during the year:
Denver &. Rio Grandc Railroad company
first consolidated mortgage 4 per cent
bonds.
ono million. four hundred and one thou
sand dollars Denver e Rio Grando Rail-
road company first and refunding mort
gage > per cont bonds
one million dollars Rio Grande. Western
Railway company first consolidated mort
! gage 4 per cent bonds
Total. $2.6Tl 900
During the year. 1o.o4& tons Of new
| eighty-tive pound steel rails were used. OF
which oil. tons were for additional main
tracks The five miles Of double track
Immediately west of Pueblo was extend
ed from Goodnight 10 Swallows. a dis
| This work carried with Il the substitution
| OF steel and concrete for wooden struc-
lures. and also revision of the alignment
and grades OF the original main track,
and was virtually line and grade change
as well as second track construction. The
ruling gradient OF l,20 per cent and maH-
| imum rate OF curvature OF degrees be-
tween these two points were reduced 10
Ga per cent ruling gradient and degree
| maximum rate OF curvature In addition.
the double track on Tennessee pass grade
was extended one and three quarter miles
! from Pando To Pando tunnel
] To secure lower cost In transportation NJ
! the large fuel tonnage from tho Walsen-
! burg and Trinidad coal districts. and also
commodities OF all kinds 10 and from the
! San Luis valley and the narrow gauge
territory beyond. VI was deemed adsiyablr
for economical reasons, to unite with the
! Colombo &c Southern Railway company
! In the construction of two low grade main
tarcks from Walsenburg TO a connection
with the present line of this companS
near MirncGua. Each company Will own
its own line. and the two lines are being
built parallel and adjacent on road
way and right of way. the ownership oi
which is vested In the Colorado * South
cru company on ohe side OF tho center
line and In the Denver & Rio Grand1
company on the other side OF tho center
line SO that each company has owner
shin Independent Of the other, although
the two tracks Will be operated jointly
as "A double track railroad under n mu-
tually satisfactory contract. Upon this
work sl.S67. .9i4.72 was expended during
the wear and the expectation Is that II
VIII be completed by January |. 1912. n
cost To each company OF about $1,000,
00u
Your company has faced with Increasing
frequency demands Of labor FOR higher
rates OF fNpay, To avoid strikes and thei'
serious Consequences To the travelling pub
lo and to business interests, advance:
, have from time 10 tim" been conceded
usually after resorting 10 mediation o-
arbitration under an act OF congress
known MS the Erdmau act. Such wage
advances since January /, 1910. arc IA
the rate al about 100000 rer annum or
tho basls Of the forces employed,
The Salt Lake City union depot re
fsrrnd 10 In the last annual report wa;
completed III cost Of $l.2l1.0S9l3 pale
out OF proceeds OF the stock and bond'