The Lancaster gazette. [volume] (Lancaster, Ohio) 1863-1886, 1867-07-04
PACIFIC RAILROAD
sss Mile. open for rravsl-tO Jules
burg.

burg.
The telegraph has announced
the compilations ei this road to
Julesburg, 37e miles'from Omaha.
and the materials are nearly all OIL
the ground to lay the track to the
base Of tho Rocky Mouptains-l4l
miles further-by September next
This is certainly very rapid work,
but intelligent correspondents cay
it is well .Jone, and that the road
is well equipped that its depots
aid stations are Of brick and stone,
and.ils locomotives and ears Of the
best. Ths u S. Commissioners
are also compelled to testify that
it is IN all respects q first. class
road before the Government will
accept it. Tho business of this
road is already surprising. The
thousands Of teams that once spent
a summer in toiling over the prai
rics have transformed their loads
20 the rail-trsck, and by autumn
the locomotive will be at the base
Of the Rocky Mountains. The Ed.
ditor OF Hdrpsr's Weekly remarks
that "when the Union Pacific is
completed, all other lines of rail
way will become, to'a certain ex.
tent, its feeders. Along its entire
route over the great Plains lateral
branches will be constructed, which
will pour into it :heir way side
contributions to an extent that
can not to-day be approximately
estimated.
"Afready, with less than one
third OF it's length complete, it is
earning several times its operating
expenses, as officially stated. Such
success is without precedent. When
it reaches the already populous
gold regions Of Montana, Idaho,
and Nevada, the freight to and
from those poiuts alone is likely to
DC almost fabulous. And popuIa-
tion follows the road as it extends.
A town or village marks each stage
OF its progress. Who can calcul-
ato tho quantity Of way freight
that the road is destined to carry
tor these rising communities? Who,
indeed, Gun estimate the passenger
traffic ai9nc? When hundreds Of
thousands of persons, with their
faces toward the West, have
trampod over the Plains at tho risk
Of their scaIps, how many perad-
venture will ride, when they can
make the journey with safety in a
few days? But short time will
elapse before the demands Of trado
will call for second track, to be
used exclusively as freight read,
over which an endless line Of slow
moving vans shnl! pass, leaving
the other track for the use of i'm.
patient passengers only"
Our readers will perceive by ref
erence to the Company's advertise
ment, that it offers its First Mort.
gage Bonds, paying six per cent,
interest in gold to subscribers, at
ninety cents on the dollar. These
bonds are a firSt lien upon the road
and are limited in amount 10 Sl6,.
900 to the milo.
Tho Company state their net
earnings for the month Of May
while only 200 miles Of road were
in operation, at 1851 ,7S2-a sum
which, after deducting operating
expenses, is several times the in.
lerest on tho bonds they are BY
law permitted to issue upon il, L
the earnings are 80 large upon the
rag business, what may we moi
reasonably expect when tho con
nection is made in 1870 with The
Pacific Coast We can SEQ nj
reason why the First Mortgage
Bonds Of such road arc not u safe
security, and they are Is per cent
cheaper than Government bondr
at the market ratio. Subscriptions
are already large, and are received
by banks and baukors generally
throughout the country.