Delaware gazette. [volume] (Delaware, Ohio) 1855-1886, 1867-06-07

! WOulQ BG opened IOr EeJblCmGub vast
bodies of land now valueless would
be made productive the tide of busi-
ness and travel that now winds a te-
dious and dangerous way along the
borders of two oceans, would be in
creased ten-fold and how would the
fathers in the East strike hands with
their sons and daughters at the Gold
en- Sate, If they could only be borne
on the wings of the locomotive
Inc imperative need of the work
was admitted, but it was too vast for
lndlVidual enterprise to attempt. No
combination of private CAPITALISTS was
willing to risk a hundred million dol
lars in the construction of 1000 miles
of railroad through a wilderness. AS
the undertaking was strictly national.
so no power less than that of the ma
tion was sufficient to accomplish it
and large as the cost necessarily would
be, the expenditure would save a much
! greater cost to the country. But
the Government did not wish to enter
upon any new system Of internal i'm
prOvements On its own account and
its only alternative was to grant its
aid in the most careful manner to such
responsible individuals of suitable
character and energy as might be will
ing to risk a portion Of their private
means in the construction Of the road.
THE CoIPANY's CHARTER AND ROUTE.
This charter was granted and per-
| fected 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 A. Dix,
/ President, Thomas @. Durant, Vice
] President, and Hon. John } Cisco,
late Assistant Treasurer Of the u. y.
/ Treasurer.
The Capital authorized By the Char
ter is One Hundred Million Dollars,
Of which it is estimated that not eX-
ceeding Twenty Millions will be
required, and Of which Five Millions
have already been paid in.
Surveying parties were at once push
cd out in various directions across the
continent to find out and locate the
best available line between the Mis-
souri, River and the Pacific Ocean.
This was established at Omaha, In
! Nebraska, on the east, and will finally
/ be at San Francisco, in California, on
the West-a distance of nearly 800
miles The Chicago and North Wes-
| tern Railroad is now completed from
/ Chicago to Omaha, distance of 492
miles and several other roads are rap
/ idly building to unite with the Uuicn
! Pacific at the same points so that its
/ eastern connection will be numerous
and complete.
The general line of the road from
/ Omaha is west up the Valley of the
/ Great Platte, and thence across the
plains a distance of 5l7 miles, to the
/ Black Hills, or easterly spur of the
4 Rocky Mountains. Col. Seymour, the
/ Consulting Engineer, reports that the
1 grade is much more favorable than was
anticipated-the maximum to the
/ Rocky Mountains not exceeding 30
feet to the mile, and from that point
to the summit, or divide of the CONT
neut, 1t will not exceed so feet to the
mile. From the Rocky Mountains,
the best practicable route will be ta-
ken to Great Salt Lake City, and
thence by the Valley Of the Humboldt
River to the eastern base Of the Sier-
ra Nevada Mountains. The Central
/ Pacific Railroad is now being, rapidly
| built east from Sacramento, Cal, and
] is already completed about 100 miles,
and viii connect with the Union Pa
citic.
! WHAT HAS BEEN DONE AND ITS COST.
As we remarked before, there has
| been very little talk, and great deal
Of work. Almost before the public
were aware, it had begun. On the
First Of January, 1867, the Union Pa
cihc Railroad was finished for 30j
miles west of Omaha, and fully equip
ped with Locomotives, Rolling Stock,
Repair Shops, DepOts, Stations, &c
and the Company have on hand Iron,
Ties, and other materials, sufficient to
finish the road to the Rocky Noun
tains. or 5l7 miles from Omaha, by
the first of September, 1867 It is
| expected that the whole line through
I to California will be completed in 1870.
The first 305 miles were graded,
/ bridged and ironed, with a heavy T.
rail, and supplied with suitable De
pots, Repair Shops, Stations, Locomo-
/ tives, Cars, and all the necessary
! appurtenances Of a frst-class road,
for $50, 900 per mile. and it is believed
| that the remaining portion will not
/ increase the average cost to more than
! S66,OOO per mile, exclusive Of equip
ments.
MEANS FOR CONSTRUCTION,
When the Government determined
! that the road must be built, il also de-
] termined to make the most ample pro-
! vision to render its speedy c0nstruc-
| tiJn beyond a doubt
lst-THE GRANT OF MONEY.-Tho
/ Government issues to the COmpanv
| its SIX PER CENT. THIRTY YEAS
/ Bonds at the rate of $4,000 per mile
! for the whole road, and in addition.
/ for $50 miles across the Rocky Noun
tains this grant is treblcd, making it
! $4,000 per mile and from the termiu-
alton Of this section to the California
! line (abOut S9S miles,. the grant is
| d0ubcd making $32. .00e per mile
whole amount being $4l2OS. OO0.-
! These bonds are issued BY the Govern
meut only on the completion Of each
| section of the twenty miles, and after
/ the Commissioners appointed by the
! President of the United States have
1 certified that il is thoroughly built and
| supplied with all the machinery. &c,
Of first class railroad The interest
I 90 these bonds are paid by the u. IS.
! Treasury, and the Government retains
as a sinking fund TO be applied % re-
| payment Ofprincipal and interest, one
/ half the regular charges made by the
| Company against It, These bonds
which are second mortgage, are not
/ due for thirty years, and is Is uot Inn
I probable that the value Of the services
/ to be rendered to the Government du-
I ring that period viii constitute q sink
| ing fund sufficient for their redCmp-
| tion at maturity.
2d-THE FIRST MoRGAGE BoNDs.-
The Government PERMITS the Company
| 10 issue its own Mortgage Bonds at tho
same time, and on the same terms, aud
/ for the same amount, and bV a sDCri1i
/ 4 ct Of Congress these bonds gf the
"
| GAGE on the entire line and property
! Of the road, the Government bond
being subordinate. The amount Of
/ these Bonds TO be issued by the Com
! pauy is limited to an amount equal 10
those issued by the Government TO
aid in the construction of the road
3d-THE LAND GRANT.-Whilc
this Is certainly munifcent, at the
same time it Is most advantageous TO