debt. When the junction of the lines of this company from Goshen is effected with those of the Atchison, Topeka and Santa Fé Company in New Mexico, the diverted traffic will doubtless considerably reduce the amount to be applied on the debt due the government by both the Union and the Central Pacific Eailroad Companies.
The company is making many important improvements in their property—new car-shops and other buildings at Ogden; new passenger and freight depots at Sacramento; extensive renewals in the snow galleries; and a costly permanent embankment for a wharf and tracks at Oakland, instead of the present pile and trestle work.
This company also leases and operates 550 miles of the Southern Pacific Eailroad.
Under the sinking-fund act of May 7, 1878, the “25 per cent. of net earnings” found due the United States by this company to December 31, 1879, amounted to $899,563.92.
The following statements are taken from reports furnished by the company:
| The number of miles subsidized is | 860.66 |
| The number of miles owned is | 1, 204.50 |
| The average number of miles operated during the calender year of 1879 was | 2,316 |
| Locomotives owned, 226; leased, 48; total | 274 |
| Passenger cars owned, 261; leased, 37; total | 298 |
| Baggage, mail, and express cars owned, 56; leased, 12; total | 68 |
| Freight and other cars owned, 5,311; leased, 894; total | 6,205 |
| Stock subscribed | $62,608,800 00 |
| Par value of shares | 100 00 |
| Stock issued | 59,275,500 00 |
| Increase of stock during the year | 5,000,000 00 |
| Subsidy bonds outstanding | $27,855,680 00 |
| Funded debt | 56,830,000 00 |
| Floating debt | 5,640,685 00 |
| Interest due and accrued on funded debt | 1,484,345 00 |
| Balance of interest due and accrued on United States bonds | 20,106,781 81 |
| Total debt | 111,917,491 81 |
| Total stock and debt | $171,192,991 81 |
| Cost of road proper | $136,558,752 45 |
| Equipment | 8,045,262 10 |
| Real estate | 2,560,396 81 |
| Total cost of road and equipment, &c | 147,164,411 36 |
| Cash, materials, and sinking funds | $7,975,230 72 |
| Bonds and stocks | 773,590 30 |
| Miscellaneous investments | 1,560,432 10 |
