The Lancaster gazette. [volume] (Lancaster, Ohio) 1863-1886, 1867-06-13


Chicago to Omaha, distance OF
492 miles and several other roads
are rapidly building to unite with
the Union Pacific at the samo point;
so that its eastern connections 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 casterly spur
of the Rocky Mountains, Col. Sey-
mour, the Consulting Engineer, re.
ports that the grade is much more
favorable than was anticipated
the maximum to the Rocky Mount
tains not exceeding 80 feet to the
mile, and from that point TO the
summit, or divide of the continent,
it will not exceed so feet to the
mile. From the Rocky Mountains,
the best practicable route will be
to taken TO Gr eat Salt Lake City,
and thence by the Valley of the
Humboldt River to the eastern base
of the Sierra Nevada Mountains
The Central Pacific Railroad is
now being rapidly built east from
Sacramento, Cal, and is already
completed about 100 miles, and
will connect with the Union Paci-
fic.
WHAT HAS BEEN DONE AND
ITS COST.
AS we remarked before, thore
has been very little talk, and a
great deal of work. Almost before
the public wero aware, it had been
begun. On the First of January
1867, the Union Pacific Railroad
was finished 305 miles west of Oma.
ha, and fully equipped with Loco
motives, Rolling Stock, and Repair
Shops, Depots, Stations, &c.--and
tho Company have on hand Iron,
Ties, and other materials sufficient
to finish the road to the Rocky
Mountains, or SIT miles from Oma
no, by the first of September, 1867,
1t is expected that tho whole
line through to California will be
completed in 1870.
Tho first 3o5 miles were graded,
bridged and ironed, with heavy
Trail, and supplied with suitable
Depots, Repair Shops, Stations, Lo
comotives, Cars, and all the neces
sary appurtenances of q frst-clas'
road, for $50, 900 per mile, and II i:
beloved that the remaining por
tion will not increase the average
cost to more than 100000 per milo
exclusive of equipments.
MEANS FOR CONSTITUTION
When the Government deter
mined that the road must be built
it also determined to make the mos
ample provisionto render its spec.
dy construction beyond doubt.
1st-THE GRANT OF MONEY
The Government issues 10 the Com
pany its SIX PER CENT. Thirty
YEAR BONDS at the rate of SIG, ,00J
per mile for the whole road, and
in addition, for 1F0 miles across th
Rocky Mountains this grant j
trebled, making it $4,000 per mile
and from the termination of thi
section to the California line (abou
S98 miles,) the grant is doubled
making $4,000 per mile,-th
whole amount being $44, 4,2O8,OO(
These bonds are issued by tn
Government only on the compile
tion of each section of twent
miles, and after the Commissioner
appointed by the President of tn
United States have certife
that it is thoroughly built an,
supplied with all the machinery
&C., of u first-class railroad. Th
interest on these bonds is paid b
the U. Treasury, and the Govern
ment retains, as a sinking fund t
be applied to repayment of prime
pal and interest, one half the regl
ular charges made for transports
tion by tho Company against i
These bonds, which arc secon
mortgage, are not duo for thirt
years, and it is not improbable tn;
tho value of the services to be rel
dcred the Government during tha
period will constitute a sinking fun
sufficient tor their redemption {
maturity.
2d.--THE FIRST MORTGAGE BOND
The Government permits tn
Company to issue its own Nor
gage BONDS at the same timo, an
on the samo terms, and for IL
same amount, and by Special Act I