OCR Text |
Show UNIONPACIFIC HAS MADE A GOOD SHOWING. Notwithstanding the quieting down in business generally, the Union Pacific Pa-cific railroad has made an excellent showing for the fiscal year ended June 30, 1913, the figures of which are just available. The common stock has earned 15. 14 per cent, which is more than 1 per cent increase aver 1912. In financial condition the feature Is the lessening, through investments and additions to property, of the vast amount of cash and cash assets which Union Pacific had carried for several years. The balance sheet of June 30, shows cash on hand of 11155,029 and demand and time loans and deposits of $8,268,965, a total of $20,123,994. On Juno 30, 1912, these cash and cash assets amounted to $63,938,646, In 1911 the total was $61,078,316; in 1910, $47,433,657; and In 1909, $45,-790,451. $45,-790,451. The reduction In cash assets in 1913 Is accounted for by the expenditure of $21,238,715 for additions and betterments bet-terments to the Union Pacific lines and by the payment of $23,740,362 to the Southern Pacific company for bonds of that company previously purchased pur-chased and now held by Union Pa clflc. Since the close of the fiscal year Union Pacific has received cash In the amount of about $750,000,000 by-sale by-sale of its Southern Pacific stock. With the cash resulting from this sale of stock, Union Pacific is In possoo-slon possoo-slon of greater cash assets than ever before, the final use of which, whether In purchase of Central Pacific or otherwise, will probably be the next largo development of interest in Union Uni-on Pacific. By charging off new reserves, principally prin-cipally for depreciation of securities, Union Pacific's profit and loss Bur 1 plus was reduced to $151, 153,387 on June 30, 1913, to which Is to be added a profit of $16,000,000 on the sale ol-Southern ol-Southern Pacific stock. The reserve for depreciation of securities amounts to $50,000,000, as compared with a book value depreciation of a little over $40,000,000, as of June 30, 1918. Union Pacific, regardless of the slow condition of the bond market, Is In financial shape to continue its policy poli-cy of additions and betterment;? When Mr. Lovett head of the road was in Ogden this summer, ho said extensive Improements to the Union Pacific would depend on the financial outlook But evidently the treasury Is strong enough to meet all demands on it, even to the building of new lines, and to the completing of the double track between Ogden and Omaha which, to an outsider, seems Imperative, if the Union Pacific is to bo thoroughly well equipped in time for the heavy traffic to the world's fair in 1915. |