Rensselaer Republican, Volume 19, Number 14, Rensselaer, Jasper County, 9 December 1886 — THE PACIFIC ROADS. [ARTICLE]

THE PACIFIC ROADS.

Ucmmixsloner Johnston’s Annual State* ment of Their Financial Condition. Gener .l Jo-cph E. Johnston. Commissioner of Railroads, in Lis onnnnl report says that the Unipn Pacific, is a first-claM road, and in excellent condition. The financial state of the road is snmmnKKed as follows: ■' Total debt1.5150,4L5,29» Capital 5i0ck,60,868,504 Total stock and debt .$220,307,792 Total asset*, rt 2-53 345,290 Surplus 33,637,477 Among the assets is $21,604,141, chaimed by the company, repaid to the United States. Treasury Department reports show settled accounts and money paid into the Treasury Jnne 30, 1886, aggregating $20,674,414, or $029,727 less than the amount claimed by the company. The company’s credits are inerea'-ed, however, by accumulated inteiest on sinking-fund investments, $418,500, making the total credits June 30, lbß6, $21.422,’914. The gross earnings of the Union Division for the year 1885 were $12,215,484; expenditures allowed under the Thurman act, $7,761,605, leaving $1,453,879 as net earnings, of which the Government is entitled to 25 per cent., or $1,113,469. The amount found dne from the Kansas Division is $141,019, making a total of $1,254,180 dne from both divisions. The funded debt of the Union Pacific Company Jnne 30, 1886, was $115,048,189, as against $116,441,797 tho year before, a net decrease of $1,393,807. The revenue of the Union Pacific Company for the year ended Dec. 31, 1885, was $25,066,836; expenditures, $21,944,904; surplus, $3,121,932; surplus, excluding expenditures for new construction and equipment, $3,344,281. The net earnings were $8,404,676, against $8,941,909 in 1884. The net earnings of its auxiliary lines for the year 1885 weie $1,362,774, against $1,847,265in 1884. The property of the Central Pacific Company the Commissioner found in excellent condition. The gross earnings of the “Pacific system” for the year ended June 30, 1686, compared with those of the preceding year, show a decrease of $449,299, yet the net earnings increased $2,430,512, or 31.8 per cent. The financial condition of the road Jnne 30, 1886, is summarized as follows: • Capital stock 59,275,500 Total stock and debt. .$181,424,038 Total assets 187,433,178 Burplus .... ri...'. 6.009,140 The sinking funds of the Union and Central Pacific Companies June 30,1886, held by the Treasurer of the United States, amounted to $9,658,713, the Union Pacific having to its credit $6,419,351, and the Central Pacific $3,239,351. Of the Northern Pacific Railroid Company the Commissioner says that the mileage June‘3o last was 2,801; that of the seventy-five miles unfinished on the Cascade Division probably only five miles will be left at the end of the year. The total number of acres of land received by the company from the United States June 30, 1886, was 11,459.830, of which 5,830,871 have been sold. From these sales the company has received $20,836,000, and there is outstanding on time sales $3,676,204. The total debt of the company June 3(1, 1886, was $82,326,925; capit.il stock, $87,058,310. Total stock and debt, $169.385,234. Total nsseis, $169,58'’,393; surplus, $203,159. The earnings of the road for the year end- d Ju ie 30, 1886. Ware sll/730,527;. expen-ie--. $6.15:*,263; net earnings $5,574,265, an increase of $536,414, or 10.64 per cent, over last year.