Page:U.S. Department of the Interior Annual Report 1879.djvu/41

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This company having defaulted in the payment of interest on its bonds, receivers were appointed and operated the road from November 21, 1876, to June 17, 1879, since which time it has been operated by the Union Pacific Railroad Company. The road is reported in good condition, wooden bridges being replaced by iron ones, and transportation service prompt and safe.

The company operates its own Express, but runs Pullman sleeping-cars. Its account with the United States regarding 5 per cent. of net earnings and the half transportation compensation withheld has not yet been adjusted.

This company has rendered but very meager reports, which, with other information, show the following facts: Miles operated, 100; miles operated under lease, 158; gross earnings, $624,953.77; operating expenses, $360,630.52; net earnings, $264,323.35; amount expended for new equipment, $140,000; rentals of leased lines, $66,000; taxes, $24,000.

The engineer’s report shows that the subsidized line of this company is not in good condition and that it is not up to the standard required, many bridges requiring immediate attention. The building of branch roads during the last two years has so increased its business that large additions to equipment have been required.

The transportation account and the 5 per cent. account of this company are still unsettled.

The condition of the property of this company in Iowa is reported as good, but the condition of the property in Nebraska is reported as inferior, requiring immediate and extensive repairs. The reports of the company show length of road operated, 158.13 miles; road owned, 107.04;