Show The Union Pacific The report of the Union Pacific Railway company for the year 1SS9 has been issued and constitutes as usual a large volume information clearly set forth It shows that while the Union Pacific proper did not earn so much gross in 1SS9 as it did in 1SSS yet the system as a whole did somewhat better An evidence of good management is to be noted in the case of the Union Pacific railway rail-way It is this While its gross earnings loll away 5123201 operating expenses were cut down 233780 It is never an easy matter mat-ter to carry expenses downward in exact proportion to declining earnings and it is a herculean task to reduce operatingexpenses more rapidly than the gross earnings are being reduced It is good management alone that can do this While the gross earnings of the Union Pacific system increased S74G59 for the year operating expenses were only permitted per-mitted to augment to the extent of 223094 which is again laudable the outlay for the advance being only about 25 per cent of the enlarged income In looking over tho report of the Union Pacific thore is created in the mind an im pression of the complexity of the interests involved There arc something like seventeen seven-teen operated roads sqvcn proprietary roads and seventeen udditional companies other than railroad < It is well undcrstoil that tbd attitude of the government toward the Union Paciiic has had much to do with dividing the interests in-terests But it is quite probable that tho I company has not kept its lines as united as the conditions warranted Indeed tho morgiuw of SbvCnot these little roads during ISbi maybe taken as an indication that the company appreciates the uselessness of maintaining rsQ many separate organizations That this is but thafirstof a series of stcpstiu tho same direction it is satisfactory to believe The Union Pacific properly is intrinsically intrinsic-ally valuable and is ably managed Tho one embarrassment under wjijcli it has long labored and which from present prospects does not seem likely to be speedily relived is the dallying policy of Congress touching its debt to the government govern-ment Au adjustment of this obligation must precede the conditions suited to the achieving of the best possible results I Railway Register |