Show UNION PACIFIC REPORT Splendid Showing for the I Year Is Made OREGON SHORT LINE FACTOR The Local Road Owns the Northern Pacific Stock Los Angeles Extension Exten-sion Only Going to Palm Springs on Southern Pacific Gross Earnings Earn-ings of System 43538181 Interesting Inter-esting Figures Are Given Thomas Lipton Made Purchasing Agent of the Whole Rio Grande System New York Dec 27The annual report re-port of the Union Pacific railroad embracing em-bracing as well a statement of the financial condition of the Southern Pacific Pa-cific and a reference to a part of the Union Pacific In the affairs of the Northern Pacific was made public today to-day The financial statement of the Union Pacific showed that the grogs receipts for the year ending June 30th were 43583181 operating l expenses and taxes 2455714 total net Income 22 172001 The errors reeelpts showed an Increase of 51390483 or 1121 per cent and the operating expenses an Increase of 3110930 of 1550 per cent The surplus sur-plus was 5178175 to which must be added 7S1OSO earned in dividends between be-tween April 1st and June 30th by the Northern Pacific stock held by the company The statement of the Union Pacific Included the operations of the Oregon Short Line and the Oregon Railway Navigation company The statement of tho Southern Pacific Pa-cific showed that the gross revenue was 77244598 operating expenses and taxes 50870013 rentals betterments sinking funds and discounts absorbed 24608867 leaving a surplus of 3456 560 As to the acquirement of the control con-trol of the Southern and Pacific Pa-cific the report said PURCHASE OF THE NORTHERN PACIFIC Developments In connection with the constantly increasing traffic of the Northwest and of the States of the Pacific slope and the vital importance of securing for the Union Pacific due proportion of the tonnage and revenue rev-enue tributary to its lines rendered It essential In the judgment of the board of directors that steps should be taken to maintain and protect the position of the system and to safeguard Its future against the combinations of other lines In furtherance of this policy and for I the purpose of developing and extendIng extend-Ing the business of the system and opening new channels of interchange the directors deemed It necessary to acquIre 75000000 par value of the capital capi-tal stock of the Southern Pacific com mny and 78108000 par value of the stock of the Northern Pacific Railway company O S L OWNS N1 P STOCK Tlfe report brought out the fact that he title to the Northern Pacific stock had been vested la the Oregon Short LIne company The latter provided for he purchase by the Issue of purchase money certificates p J Indebtedness which arc held by thevITnion Pacific Railroad company The table of securities secu-rities owned Includes 01000000 of these 4 per cent certificates nono of which I are In the hands of the public The I balance sheet of June 30th contained in the statement of liabilities Item of I 23203247 as the current liabilities of the Oregon Short Line A foot note ex Jlalned that this was the balance of I Indebtedness incurred In the acquisition I acquisi-tion of securities of other companies and In new construction Current liabilities lia-bilities of the Union Pacific were I 6725130 LOS ANGELES EXTENSION A map of the Union Pacific system given out with the icport contained a projected line from Callentes Nov to Palm Springs In southern California on the line of the Southern Pacific |