Show THE UNION PACIFIC Wo dont know how the stockholders will feel about it but the people of the west and especially those residing in central and southern Utah and southern Nevada will agree with the Union Pacific directors who voted unanimously on the 27th instant that under existing circumstances of the railroad situation It is inexpedient to resume the payment of dividends Last year the companys net earnings amounted to about two million dollars Instead of dividing this surplus among the shareholders share-holders the directors have resolved to employ em-ploy the money for the good of the company What we interpret the railroad situation to mean is that the Union Pacific t finds it necessary to continue its line to the Pacific ocean and to build branches and develop de-velop feeders The officials have learned that the Union Pacific is handicapped that while it has the best route across the continent con-tinent so far as it goes it is at a disadvantage disadvan-tage in not being a through line like its competitors the Southern Pacific the Santa Fe the Northern Pacific and the Canadian Pacific We take it that the action ac-tion of the directors has direct connection with the announced extension of the Utah Central Instead of going into the shareholders share-holders pockets the money will go into the proposed road active work on which is to be begun as soon as the route to be followed has been determined upon The new policy of the Union Pacific the policy of progress and development instead of one of fear and hesitation will soon restore res-tore that great corporation to its rightful place among the roads of the west For years it has been halting between fear and doubt trying make peace with Congresses which did not want peace and to stave off what it should have invited and welcomed The Union Pacific has always been in a position po-sition to make money but it would not take advantage of the situation and seemed to dread the thought of progress It permitted other companies to gather the harvest which it should have reaped It was despondent and that it did not go to decay was due to the inherent strength of the gigantic institution in-stitution and the advantageous position which it occupied A change of policy haying hay-ing been announced there is at once a better bet-ter feeling all along the line People directly di-rectly and indirectly interested in the road are glad to think that the Union Pacific is to be aggressive and progressive instead of defensive and humble We are all glad to believe that the Union Pacific proposes to take advantage of the situation and lead instead of follow |