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Show THE UNJIHPACIFIC, The Annnal Eeport Showing- the Operations Op-erations of the 8147 Miles of Ilailway for 1891. The Earnings for the Year 44,006,-000, 44,006,-000, a Decrease of Over Half a Million From Those of '90. THE SURPLUS EARNINGS. The Earnings From the Pasenffer Traffic Show a Falling off of $852,000 or Over 9 Per Oent. GETTING AT THE CAUSE. The Failure of Crops on the Eastern Slope of the Rockies and the Decrease in Excursions The Land Department. De-partment. Boston, April 27. The annual meeting of the stockholders of the Union Pacific opened this mornintr. The investments made during dur-ing the year by the directors and the acts of the directors wore approved; also the Drexel Morgan indenture of last year under which the three year Cpercent notes were placed and the Kansas Pacific trust indenture rive million mil-lion bonds of which went in under the 6ame. The meeting then took a recess pending the depositing of ballots for directors, the polls to close at 12:30. In the list of direc. tors represented on the foreign ticket the names of Gould, Sage and Chirk do not appear. ap-pear. Boissevan having been committed to the shareholders, whose proxies he held to vote for directors who would represent Union Pacific shareholders and have no interest in-terest in the Missouri Pacific, which is considered con-sidered a competing line. Samuel Carr aud Charles C. Jackson whose names appear on the ticket will if elected resign in favor of R. 8. Hayes nnd Frank B. Tappin, president of the (iallitin national bank of New York. The regular board ticket also includes the name of Carr, who is to resign in favor of Hayes. Boston-, April 27. The annual report of the Union Pacific Wis submitted to the stockholders at the annual meeting today. It shows for the year 1891, gross earnings, $W,S7,000, as against $20,433,000 in 18!K). Surplus earnings. $7,84t,000, as against $7,-274,000 $7,-274,000 the previous year. Proceeds from other sources make a total income of $10,-442,000. $10,-442,000. Deducting total charges, the balance bal-ance is 1,910,000, an increase of $23,000 over that of last year. The gross iloatina: debt decreased ?14,-000,000 ?14,-000,000 and was, at the close of the year balance in current assets of $11,188,000, as against a net fioatinjr debt at the close of the preceding year of $7,874,000. This is equivalent equiv-alent to a decrease in net Moating debt, or an iT-reafe in the crrrrent assata ot JH&J8&Sffilk The auxilliary Hues show gross earnings of $23,011,000. as against $22,011,000 in 1890, aud surplus earnings of 15,698,090, as against $4,803,000 the previous year. The following statement shows the results of the operations of the entire system of 8147 miles of railway, including the results from the operations of the steamers of the Oregon Railway & Navigation company. Earnings $44,000,000, a decrease of $531,-000. $531,-000. Expenses $28,030,000, a decrease of $1,-955,000. $1,-955,000. Taxes $1,580,000, an increase of $17,000. Surplus earnings $13,745,000, au increase of $1,400,000. Total ineome $15,340,000, a-i increase of $1,919,000. Charses $14,275,000. Balance of income for the year $1,005,000, as against a deficit of $27.5,000 in 1890, an increase in-crease of $1,340,0(50. The earnings from the passenger traffic show a decrease of $853,000, or over 9 per cent. This large decrease is accounted for locally by business depression resulting from the crop failures in 1890, in tho territory between be-tween the Missouri river and the Bocky mountains, and generally by the falling off of excursion and tourist travel. The total funded debt is $227,528,000. The total amount of ca3h receipts in all the land departments is $527,000; gross land sales $138,000; net land sales after the cancellation, $1951, and the company had by cancellation made a net increase on its laud of 2490 acres. The number of stockholders appears to be reducing. It was 4904 two years aa:o: 4390 a year since, and 4015 at the close of 1891. The amount realized from the sale of bonds of the Oreiron Short Line, Utah Northern, Denver & Gulf, Omaha fc Republican Valley and Oregon Railway uud Navigation company, com-pany, aggregating 760,000, was expended in part for the construction of line, betterments, better-ments, improvements and equipment, construction con-struction of terminals at Omaha and Denver, and the purchase of the Oregon Railway and Navigation stock and bonds. |