Rutland weekly herald. [volume] (Rutland, Vt.) 1859-1877, 1867-07-18
The Union Pacific Railroad.

The telegraph has announced the COM
pletion of this road to Julesburg, 376
miles from Omaha, and the materials
are nearly all on the ground to lay the
track to the base of the Rocky Noun
tains-141 miles further-by September
| next. This is certainly very rapid work,
but intelligent CORES pondents say it
is well done, and that the road is well
equipped; that It's depots and stations
are Of brick and stone, and its locomo.
motives and cars of the best The U.
s. Commissioners are also compelled to
testify that it is in all respects a first
class road before the Government will
accept it. The business of this road is
already surprising The thousands of
teams that once spent q summer in toll
ing over the praries have transferred
their loads to the rail.track, and by au-
tumn the locomotive will be at the base
of the Rocky Mountains. The Editor
OF Harper's Weekly remarks that "when
the Union Pacific is completed, all other
lines of railway will become, to GER
tain extent, it's feeders. Along it's en-
tire route over the great Plains laternal
branches will be constructed, which
will pour into it their way,side con-
tributons to an extent that can not to-
day be approximately estimated.
ALREADY, with less than one third Of
its length complete, it is earning several
times its operating expenses, as officially
stated. Such success is without prece-
dent When it reaches the already popu.
lous gold regions of Montana, Idaho,
and Nevada, the freight to and from
those points alone is likely to be almost
fabulous. And population follows the
road as it extends. A town or village
marks each stage of its progress. Who
can calculate the quantity of way freight
that the road is destined to carry for
these rising communities 3? Who, in
deed, can estimate the passenger traffic
alODel
When hundreds of thousands of per-
sons, with their faces toward the West,
have tramped over the plains at the risk
of their sCalps, how many peradventure
will ride, when they can make the jour.
ney with safety in few days? But
short time will elapse before the demands
OF trade will call for second track, to
be used exclusively as freight road,
over which an endless line of slowly
moving vans shall continuously pass,
leaving the other track for the use OF i'm
patient passengers only"
Our readers will perceive by reference
to the Company's advertisement, that it
offers its First Mortgage Bonds, paying
six per cent. interest in gold to subscrib-
ers, at ninety cents on the dollar. These
bon1s are a first lien upon the road, and
are limited in amount to $4,000 to the
mile.
The Company state their net earnings
for the month of May, while only go
miles "t road were 10 operation, at s26l,-
1872 II sun which, after dtducTing Ope-
rating expenses, Is several times the in
terest on the bonds they are by law per-
mitted to issue upon 1t. II the earnings
are so large upon the seay business, what
may we not reasonably expect when the
connection is made in 1870 with the
Pacific Coast? We can see no reason
why the First Mortgage Bonds OF such q
road are not a safe security, and they are
Is per cent. cheaper than Government
bonds at the market rate. Subscriptions
are already large, and are received by
banks and bankers generally throughout
the country.
The population of Mississippi by 8