The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1867-06-03
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4
ition as 20 demand a foremost place
among the great public works of the
United States. The work, being car
rfed on almost outside the limits or our
present population, and with none of
the demonstration which usually ac
compenies great workspfc0nstrpction,
has'attracted much less attention from
the public than its Importance really
deserves, SO that the people may be said
to be comparatively ignorant of a
scheme which lis to revolutionizs the
commerce of the country, and open up
a new era ainW Westefn eiYilization:T
THRlGoatRANXss GHAREER AND RoUTE
This charter was granted and per-
lected by various Acts of Congress, and
the Company Comprises men Of the
highest reputation for Integrity, wealth,
and business experience. Among the
officers are General John 5AIDix, Pres
dehtiTTh6mRsEC @! {Durant,L Vice Presi-
dent; and Hon. John j. Cisco, late AS
sistant Treasurer of the United States,
TreRsurerS ~
I The capital Unauthorized by the charter
Is one hundred million dollars, of
which it is estimated othatunot exceed
ing twenty-five millions will be re-
quIred, and OF which five millions have
already been paid in.
Surveying parties were at once push
ed out In various directions across the
continent to find and locate the best
tayailable line between the Missouri
river and the Pacific Ocean. This was
estab blished AtQmaba, in Nebrask ka, on
the East, and will finally be at San
! Francisco, in California, on the West
| a distance ofnearlyl nineteen hundred
miles. The Chicago and Northwestern
Railroad is now completed from Chs
cago TO Omaha, distance of four hun!
dred and ninety-twO miles; and several
other roads are rapidly building; to
unite with the Union Pacific at the
same point; SO that its Eastern con-
| nsctionswill be enumerous and complete.
ie The general line fsthe road from
1 Omaha is West up the valley of the
Great Platte, and thence across the
| plains distance OF SIT miles TO the
Black Hills, or Easterly spur of, the
Rocky Mountains. Colonel Seymour,
the Consulting Engineer, reports that
the grade Is much more favorable than
was anticipated-the maximum to the
Rocky Mountains not exceeding 80 feet
to the mile. and from that point TO the
summit, or divide ofthe continent, will
not exceed so feet to the mile. From
the Rocky Mountains the best practical
BILE route ;willybe taken to Great Salt
I Lake City, and thence by theivalley of
the Humboldt River to the Eastern
base of the Sierra Nevada Mountains.
| The Central, Pacific Railroad Is now
being rapidly built East from Sacra-
mentO, California, and is already COM
pleted about 100 miles, and will connect
with the Union Pacific. - 11sq l,=3I
wHATHAs BEEN DONE AND MS c0sT.
AS we remarked before, there has
been very littletaIk and great deal OF
work. Almost before the pl biic, were
of January, 1867, the Union Pacific
Railroad was finished for SO5 miles
Westifrom Omaha and fully equipped
with locomotives, rolling stock, repair
| shops, depols, stations, &C.; aud 1.-THE
company have on hand, - iron, ties and
\ other materials, sufficient TO finish The
road TO the Rocky Mountains; or l5l7
| miles from Omaha, by the LIST of Sep
tember, 1867. 1t Is expected that the
whole line through to California viii be
\ completed In 1870. .,ltaili d Bla7i.,
1.-The first 3O5 miles were graded,
| bridged, and }iroued with, q heavy T
rail, and supplied with suitable depots,
repair shops, stations, locomotives, cars,
and all the necessary appurtenances of
a hrst-class road, for S5O, 900 per mile;
and It Is believed that the remaining
portion will not increase the average
cost to more than S66,0Q0 per mile, fex-.
elusive of equipments. aszGg sIsTs
MEANS FOR CONSTRUCTION. ~ rs. 4,
Whensthe Government determined
that the road must be built, IL also de-
termined to make the most ample proS
vision TO render jts speedy constitute
ton beyond a doubt, o.
Frst-THE GRANT OF MoNBY.7The
Government issues to the Company its
six per cent. thirty year bonds at the
rate of SIG 900 per mile for theTWhoIe
road and, In laddifion, Afof 5150l miles
across the Rocky Mountains this grant
issttebled, making It SIS, 600 per mile :
4 and from the Termination of this Sec
,ltiop 20. the Cali foEnia line (abouE S9S
miles), the, grant is don bled, ,nmRking
$50, 900 per mile, the whole being S44,-
! Dos, 900. These bonds are issued by the
4 Government only on the completion of
each section of twenty miles, and after
the Commissioners appointed by the
President or. the United States have
certified that it is thoroughly built and
i isupplied With all the machinery, &e., Of
a fiTst-clAss railroadS The interest on
these bonds Is paid by the United
! States Treasury, and the Government
.tetaihs, asa sinking fund TO be applied
to repayment OF principe and interest,
| OneshAif1,thes regular charges made
against it for transportation by the
! Company. These bonds, q which are a
! second mortgage are not due for thirty
Iyears,and tits not improbable that the
3'valus of, the services tos be rendered to
the Government during that period
will constitute d sinking fund sufficient
for theiriredemption at, maturity.
Second - THE FIRST MORTGAGE
\ BoNDS.LThe Government permits the
Company TO pisaus Its IoWn mortgage
bonds at the same time, and on the
same terms, and for the same amount,
y snd ~, spsetaa ACT ref, CpngEqe5Ss thess
mortgage on the entire line and proper
Il " OF the road, the G6vernnie nj Bonds
n being subordinate. The an5onnt al
II these bonds TO be issued, by the ,Comps-
ny4is limited to an sano1nt equal ~
q those issued by the Government TO afi
in the eonstS on OF the road, = '7y' 0e
sizs Ihifd@Tn LAND GRkSST.-While
7 this is certainly munIAeeRt, at the same
ktime; it Is most d6yantAgeopS to the
4 Government, for, without II, a1I,its own
4 lands would remain almost WORTH bless,
ilIt Is q a.dOnation Of every altarnafeis
ton for twenty milesl on leachdside OF
4 the road, or I2, 800 setes per mile, and
Iamounts TO- %, ,6S2, 900 acres, assuming
the distance from Omaha he Califor-
4 mia State line to- beI1;665 Iniless5 Much
Of this land, especially IN fdesvalley Of
the Great PlatteS is rich alluvium, and
is considered eqnaI to any in the world
for agricultural purposes. HapY E. D.
I Mansfield, the LEARNED CQmmtsstouerof
Statist tics for theStatS u of Ohio, estimates
Y that at least9y 400 600 acres VII b6AfaiIz
able to the Company within mOdeFabe
length OF time, and that IL Il ifar ~ thin
bounds to estimate this entire grant at
tSu5O an acre, or SO, ,0OO, ,0D0. tRThe Illi.
nois Central has realized more than four,
times this sum from 4 a'sfn1ilsf grant.
REcAPrrULArIoN OF MEANS FoR 1855
.IIkEs EoDuLRsgaSR "a
n q Pond. aaI,sI to money st4 0na mn