The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1867-07-06

376 xnLRs OPEN TO TRAVEL TO Ju1Rssuso.


The telegraph has announced the compile.
tion of this road to Julesburg, $40 miles fr.ua
Omaha, and the materials are nearly ali On
che ground to lay the track to the base Of the
Rocky Mountains-l1 miles further-by Sen.
tember next. THIS is certainly very rapid
work, but intelligent correspondents say it In
we'll done, and that the road is well equipted
that its depots and stations are OF br ek and
stone, and its locomotives and cars are of the
best The q. s. Commissioners are also COM
PEELED TO testify that it is in all respects first
class road before the Government will accapt
1t. The business of this road is already sur-
prising. The thousands of teams that once
spent summer in toiling over the pra,riss
have transferred their loads to the rail-traek.
and by autumn the locomotive will be at the
base of the Rocky Mountains. The Editor Ct
Harper's Weekly remarks that when the
Union Pacific is completed, all other lines Of
railway will become to a certain extent, its
feeders. Along its entire route over the gieat
Plains lateral branches will be constructed,
which will pour into it their wsysids contribu.
tions to an extent that cannot to-day bs ap-
proximately estimated.
Already, with less than one-third of its
length complets, 1t ID earning several times its
operating sxpeasss, as officially stated. Such
success is without precedent. When 1t reacL-
.s the already p,pulous gold regions OF Monta-
ma, Idaho and Nevada, TIE f.eight to and iron
those points alone is likely to be almost tabu-
ious. And population follows the road as 10
extends A town VI village marks each stage
OF its progress. Who can calculate the ouan-
tity of way trieght that the road is destined to
carry Tor these rising communities? Who, In
deed, can estimate the passenger traffic alone?
When hundreds of thousands Of persons with
their faces toward the West, have tramped ov-
sr the Plains ut the risk of their scalps, how
many peradvsnture will ride, when they can
make the journey with safety in a few daysp
But q short time will elapse before the de-
mands of trade will call for q second track, TO
be used exclusively as a freight road, over
which an endless lime of slowly moving vans
shall continuously pass, leaving the otner
track for the use of impatient Passengers on-
ly."
Our readers will perceive by reference to
tbs Company's advertisement, that 1t off .rs its
First Mortgage Bonds, paying six per cent,
interest In gold to subscribers, at ninety cents
on the dollar. These bonds are first lien up
on the road, and are limited in amount to S1s,
900 to the mile.
The Companv state their net earnings for
the month of May while only go miles of road
were In operation, at S262 7Sz-a sum which
afer deducting operating expenses, is several
times the interest on the bonds they are By
law permitted to issue upon it, If the earn
ings are so large upon the ,cay business, what
may we not reasonably expect when the con-
neetion is made in 1870 w.th the Pac ie Coast9
We can see no reason why the .>Tss Mortgage
Bonds OF such road are not a safe security
and they are 10 per ee. t., cheaper than Go
ernmsnt bonds at the market rate. Subscrip-
tiens are already large, and are received BIZ
banks and bankers generally throu. .nous the
country.