The earnings for the fiscal year ending June 30,1881, are reported as follows:
| Passenger | $6,188,388 56 |
| Freight | 15, 216, 554 65 |
| United States mail | 463, 861 27 |
| Miscellaneous earnings | 1, 024, 540 09 |
| Total | 22,893,344 57 |
| Operating expenses and rentals | 13, 502, 504 48 |
| Ordinary net earnings | 9, 390,840 09 |
| Interest paid | 3,642,265 02 |
| Dividends paid | 3, 557, 530 00 |
Under the sinking-fund fund act of May 7, 1878, the "25 per cent. of net earnings" found due the United States by this company to December 31,1880, amounted to $1,037,225.28, which has been covered into the Treasury as follows:
| Credit of bond and interest account | $428, 388 67 |
| Credit of sinking-fund account | 608, 836 61 |
| Total | 1,037,225 28 |
The company rendered transportation services amounting to $892,788.54, and made a cash payment of $144,436.74.
CENTRAL BRANCH UNION PACIFIC RAILROAD.
This road, with the leased lines controlled by it, is operated as a division of the Missouri Pacific Railway Company.
From the meager reports submitted by the company the following is derived:
| Miles owned and subsidized | 100 |
| Miles leased | 262 |
| Stock issued | $1, 000, 000 00 |
| Subsidy bonds | 1, 600, 000 00 |
| Interest on subsidy bonds | 1, 357, 808 25 |
| Gross earnings for year ending June 30, 1881, whole line | $914, 398 58 |
| Operating expenses | 566, 562 85 |
| Net earnings | 347,835 73 |
SIOUX CITY AND PACIFIC RAILROAD COMPANY.
Until the year ending June 30,1880, this road had not earned enough to pay operating expenses and interest on its first-mortgage bonds, consequently there was no "5 per cent. of net earnings" for the government, under the Supreme Court decision.
The length of road operated is 264.13 miles; road owned, 107.42; road subsidized, 101.77; number of locomotives, 12; passenger cars, 9; bag-
