The following statement shows the earnings of the Union Pacific Railroad Company prior to consolidation, for seven months ending January 31, 1880: Since the consolidation the Union Pacific Railway Company has had earnings to June 30, 1880, as follows: Under the act of May 7, 1878, the earnings for the year ending De cember 31, 1879, have been as follows: Ordinary net earnings........... Less interest on first-mortgage bonds.. Net earnings under the law. One-half transportation, applied to interest One-half transportation, applied to sinking fund.. Five per cent. under acts of 1862 and 1864, applied to interest Total, 25 per cent. of net earnings to December 31, 1879....... CENTRAL PACIFIC RAILROAD COMPANY. $7,768, 224 47 1,636, 559 99 6, 131, 664 48 $574,844 01 574, 844 00 306,583 22 76,644 89 1,532, 916 12 The property of this road is referred to in detail by the railroad engineer, and is in good condition and well maintained. The company has opened a new and shorter route from Sacramento to San Francisco, via Benicia, over which the bulk of the overland traffic is now done. In view of the fact that this is not a subsidized road, and that the debt due to the United States by this company is still quite large, the Auditor questions whether two or three hours quicker transportation of the mails is more to be considered than the retention of a greater or less proportion of compensation, for carrying the mails, to be applied on the debt. When the junction of the lines of this company from Goshen is effected with those of the Atchison, Topeka and Santa Fé Company in New Mexico, the diverted traffic will doubtless considerably reduce the amount to be applied on the debt due the government by both the Union and the Central Pacific Railroad Companies. The company is making many important improvements in their property-new car-shops and other buildings at Ogden; new passenger and freight depots at Sacramento; extensive renewals in the snow galleries; and a costly permanent embankment for a wharf and tracks at Oakland, instead of the present pile and trestle work. This company also leases and operates 550 miles of the Southern Pacific Railroad. Under the sinking-fund act of May 7, 1878, the "25 per cent. of net earnings" found due the United States by this company to December 31, 1879, amounted to $899,563.92. The following statements are taken from reports furnished by the company: The number of miles subsidized is. The number of miles owned is The average number of miles operated during the calender year of 1879 was. Locomotives owned, 226; leased, 48; total...... Passenger cars owned, 261; leased, 37; total. Baggage, mail, and express cars owned, 56; leased, 12; total Freight and other cars owned, 5,311; leased, 894; total.. Stock subscribed.... Par value of shares. Stock issued...... Increase of stock during the year.. Subsidy bonds outstanding.... 860.66 1,204.50 2,316 274 298 68 6, 205 $62, 608, 800 00 100 00 59, 275, 500 00 5, 000, 000 00 $27,855, 680 00 Funded debt..... 56,830, 000 00 Floating debt Interest due and accrued on funded debt.. Balance of interest due and accrued on United States bonds.. Total debt.. Total stock and debt ... Cost of road proper..... Equipment...... Real estate.. Total cost of road and equipment, &c Cash, materials, and sinking funds... Bonds and stocks..... Miscellaneous investments.. 5,640, 685 00 1,484, 345 00 20, 106, 781 81 111, 917, 491 81 $171, 192, 991 81 $136, 558,752 45 8,045, 262 10 2,560,396 81 147, 164, 411 36 $7,975, 230 72 773,590 30 1,560, 432 10 Since the Auditor's last report, important changes have occurred in the affairs of the company owning this road. The engineer reports its property in good condition, with large additions to the equipment during the year. This road, with the leased lines controlled by it, is now operated by the Missouri Pacific Railway Company. From reports made, the following statements are derived: The Kansas Pacific Railway Company was consolidated with the Union Pacific Railroad Company, January 26, 1880. This report is therefore for the seven months ending January 30, 1880: Miles operated.... Miles owned...... Miles subsidized with lands...... 1,006. 3 778.5 638.5 Passenger earnings for seven months ending January 30, 1880.. Freight earnings... Miscellaneous earnings Total Operating expenses.. Net earnings... Interest paid.............. * Acres of land unsold SIOUX CITY AND PACIFIC RAILROAD. $9,992, 500 00 50 00 9,689,950 00 6, 303, 000 00 24, 373, 825 12 1,961, 197 62 1,090, 450 00 3,723, 553 17 37, 452,025 91 $47, 141, 975 91 34, 359, 540 66 $690,669 71 2,300,625 01 155, 139 25 3, 146 433 97 1,841,571 38 1,304, 862 59 $27,175 89 4,566, 046 68 The reports of this company show length of road operated, 217.14 miles; road owned, 107.42; subsidized line, 101.77; number of locomotives, 13; number of passenger cars, 9; number of baggage, mail, and express cars, 6; number of freight and other cars, 233. Stock subscribed, $2,068,400; stock issued, $2,068,400; funded debt, $1,628,000; United States subsidy bonds, $1,628,320; floating debt, $278,592.05; accrued interest on funded debt, $51,165; accrued interest on United States subsidy bonds, $1,171,199.87; total debt, $4,757,276.92; stock and debt, $6,825,676.92; cost of road, $5,355,551.28. Passenger earnings for year ending June 30, 1830, $130,193.17; freight earnings, $392,513.73; miscellaneous earnings, $21,136.58; total earnings, $543,843.48; operating expenses, $421,232.03; net earnings, $122,611.45; interest paid, $98,119.90. TEXAS AND PACIFIC RAILWAY. For the fiscal year ending June 30, 1880, the company reports: Miles of road owned and operated, 483.86; number of locomotives, 54; pas *Also reported in the number of acres reported as unsold, belonging to the Union Pacific Railway Company. senger cars, 32; baggage, mail, and express, 11; freight and other cars, 1,060. Stock issued, $8,653,500; par value, $100. Funded debt, $20,418,997.68; floating debt, $398,621.43; unpaid interest, $2,122,720; total debt, $22,940,339.11; stock and debt, $31,593,839.11. Cost of road, $28,925,840.90. Passenger earnings, $466,736.78; freight earnings, $2,075,993.44; miscellaneous earnings, $80,536.55; total earnings, $2,623,266.77; operating expenses, $1,542,899.44; net earnings, $1,080,367.33; interest paid, $662,520. Lands unsold (granted by State of Texas), 4,755,862 acres. SOUTHERN PACIFIC RAILROAD. From reports made to the Auditor the following figures are obtained: Miles operated, 160.89; miles owned, 711.56; leased to Central Pacific, 550.67 miles; number of locomotives, 48; passenger cars, 77; baggage, mail, and express cars, 14; freight and other cars, 1,156. Stock subscribed, $36,763,900; stock issued, $36,763,900. Funded debt, $28,872,000; floating debt, $554,815.07; accrued interest on funded debt, $219,450; total debt, $29,426,815.07. Stock and debt, $66,410,165.07. Cash, material, and accounts due, $703,872.11. Cost of road, $62,307,813.98; cost of equipment, $1,848,533.51; total cost of road and equipment, $64,156,347.49. Passenger earnings, $399,349.34; freight earnings, $455,382.51; miscellaneous earnings and rent of road, $1,680,149.56; total earnings, $2,534,881.41; operating expenses, including taxes and insurance, $756,683.88; net earnings, $1,778,197.53; interest paid, $1,872,480.39. Lands unsold, 9,240,376 acres. THE NORTHERN PACIFIC RAILROAD COMPANY. The entire property of this company has been inspected by the engineer, and is in good condition. A detailed statement of his observations will be found in his report. The company is constructing at Saint Paul a handsome building to be used as general operating offices, and as soon as the requirements of traffic demand, proposes to build an iron bridge across the Missouri River at Bismarck. The Auditor calls particular attention to the character of the lands of this company, they being much above the average of those granted the other Pacific railroad companies. Under the present management the general condition of the company has greatly improved, and vigorous measures have been adopted to push the work to a successful completion. The following statement is taken from reports furnished by the company: Average number of miles operated, 781; miles owned, 637.98; stock authorized, $100,000,000; common stock issued, $49,000,000; preferred stock issued, $43,412,645.12; total stock issued, $92,412,645.12. Number |