Salt Lake Tribune | 1913-10-07 | Page 6 | Union Pacific Eminence

UNION PACIFIC EMINENCE. When Wall street was considering tho uncertainty as to what tho Union Pacific railroad managers would do by way of declaring tho recent dividend, tho point was whether tho proceeds of the sale tff tho Southern Pacific stock held by the Union Pacific Harriman interests would be distributed in that dividend. When it was distributed, it was found to be the biggest "melon" of the year, $82,000,000. 'It was an enormous dividend, worthy of tho confidence which stockholders had in the Harriman management, both beforo the death of Mr. llarriman and since. That dividend made things loosen up in Wall street, and thero is plenty of surplus left in tho treasury. An editorial comraont on this dividend divi-dend was; "Tho Union Pacic is declaring de-claring $S2,000,000 in dividends, and yet it is not having wrecks every day on account of poor tracks or wooden coaches." This latter is evidently a slap at the recent management of the Now Haven railroad system in New England, which last 3'car spent (or wasted) $1,126,G32 more than its earnings. earn-ings. The Union Pacific deserves all the good things said of it, not only in con-sequence con-sequence of the dividend, but by reason of the security of its travel and tho enterpriso shown in meeting tho demands of the communities through which it operates It is one of the great railway systems of the world, and Mr. Harriman, in showing hi 3 groat faith in it, and in Salt Lake City, earned tho good will of all tho people of this city and of the surrounding surround-ing region