The Union and journal. [volume] (Biddeford, Me.) 1858-1882, 1867-07-12
THE UNION PACIFIC RAILROAD.
s7o miles open for trsvei--to Jaiessurs


The telegraph has announced tho com.
ple,ion Of this road to Julcsbrrg. "o
miles from Omaha, and the materials arc
nearly oil on the ground to lay tho ,rnck to
the base Of the Rocky Mountains-l4l
milcs farther-by September pe.t This
Is certainly very rapid work, but intelligent
correspondents say Il is we'll done. and that
tho road Is well equipped; that It's dePots
and stations arc Of brick and stone, and its
locomotives and cars are Of the best The
U. 8. Commissioners urc also compelled to
testify that it is in all respects a lirst'class
road, before the Government will accept It.
The business Of this road is already sur.
prisiug. Tho thousands Of teams that
once spent summer in toiling over the
prsiries have transferred their loads to the
rail track, and by autumn the locomotive
will l,e ut the base Of the Rocky Mountains.
The Editor Of Harper's Weekly remarks
that "when the Union Pacific 10 completed,
all other lines Of railway will become, to a
certain extent It's feeders Along its entire
route over tho groat Plains lateral branches
will be constructed, which will pour into
their way.side contributions to un extent
that cannot to-day be approximately est.
mated.
"Alrcady, with less than ono thinl OF Its
length complete, It 10 earning several times
iss operating expenses, as officially stated.
Such success Is without precedent. When
Il reaches tho already populous gold regions
Of Montana, Idaho, and Nevada, the freight
to and from those points alone is likely to
be almost fabulous. And population fol.
lows tho road as II extends. A town or VII
lago marks each stage Of It's progress. Who
can calculate the quantity Of way freight
that the road Is destined to carry for these
rising communities1 Who, indeed, can esti.
mate the passenger traffic sioneP When
hundreds Of thousands Of persons, with their
faces towards the West, have trampcd over
the Plains at the risk OF their scalps. how
many pcradventure viii ride, when they
can mako tho journey with safety in q few
days? But short time will elapso before
the demands Of trade will call for second
trnok, to bo used exclusively rs a freight road
over which an endless linz Of slowly moving
vans shall continuously pass. leaving the
other track for the use Of impatient passsn.
gers only" :
Our readers will perceive by reference to
the Company's advertisement, that II offers
is Fir,t Mortgage Bonds. paying 'ix per
cent. interest IN gold to subscribers, at nine
" cents on the dollar. These bonds arc a
first hen upon the road. and arc limited In
amount to $l6 900 to the mile.
The Company state their net earnings foi
the month OF May, while only 200 miles oil
road were In operation, ut s26l ,7S2-a sum
which, after deducting operating expenses,
10 several times the interest on tho
bonds they are by law permitted to issue
upon It,. II the earnings arc 50 largo upon
the tpay business, what may We not rcasona.
bly, expect when tho connection is made in
1870 with tho Pacific Coast? We can SOC
no reason why tho First Mortgage Bonds Of
such road are not n safs security, and they
arc IS per cent. cheaper than Government
bonds at tho market rate. Subscriptions are
already large, and are received by banks and
bankers generally throughout tho country.