The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1867-11-01
,-o--os. Of the Union Pacific Railroad

made and is still making mighty strides in her
enward progress. Not only is the advance
,rent in ideas without precedent, but steps 80
rapid are being taken to develop the national
rssouroes that we have a guarantee that we
have entered upon new era. Prominent
among those developments is the lavish ex-
peuditure of capital in opening new mines and
In making available the vast treasures of the
far West but foremost Of all is the energetic
approaoh to completion of the Union Pacific
Railroad. So long as the great breadth of
our country rendered it impossible to have free
communication within our own borders, and
50 long as the products of one section had to be
sbipped by sea for thousands of miles, in
order that connection might be established
with the other sections, SO long was the growth
and development of the great national re-
sources Of all sections checked. But the es-
tablishment of through line of travel which
will unite and bind together even those States
which seem on different sides of the world
will cause an instantaneous influx Of energy,
and a rapid growth of wealth which has no
precedent in the history Of our country.
This oOnsummation is rapidly being reached.
According to the latest report of the Union
Pacific Railroad, over one-third of the distance
has been overcome, and for five hundred miles
beyond Omaha the iron rails extend. The
energy which has characterized its manage
nent, and the determination to advance
with all speed consistent with stability,
places the rank of the Union Pacific Railroad far
ahead of all competitors. We are glad that at
least one line is being prosecuted with zeal
which shows us that the great demands of the
country are fully appreciated by its manage
ment.
The people cannot appreciate the magnitude
OF the task which they have undertaken. We
are in the habit of talking of millions, but we
do not realize what million really is. What,
then, is the surprise felt when we are told that
that portion of the Union line already built has
cost over $40,000,000 and that only one-third
is completed Surely the undertaking is a
gigantic one. Yet it is as certain to be most
remunerative one as that there is sun in the
heavens. What is such an expenditure when
compared with the assets The assets clearly
available are $2 900, 900 in excess of the very
highest estimates. Already, from the ad-
vance of that portion of the road completed,
can we prophesy rich harvest. Although
none of the through trade can, of course, yet
be reached, and the way trade alone is avail
able, yet the figures which are shown prophesy
what we have right to expect.
EARNINGS
Passengers. Freight, Telegraph, and --- =.
teTiaIS and Men, Observation-Disclosures. 479,2s34l
TotaL...........................,. 81 2O8, OBS 05
EXPENSES
Fuel, Repairs Ofhces, Conductors oooz zoo 90
Trains, SSEJ' 'S09 no
Net Earnings to obalance.."...."'"'" oo''oOoOo
Total ........................ 81, ,2O3, ,O8S05
The net operating expenses on the CONNER
oial business for the quarter were S237, 966'5O.
The account for the commercial business
stands as follows:-
Earnings for May, June, and July".....S723 1855
Expenses for May, June, and July. 2S7.95o 5C
Net ,7S9 Ol
There can be no possible question but that
the road will pay, and that it will be speedily
completed. The advantage, therefore, of al
investment in the first mortgage bonds of the
Company is one to which the attention of oul
people need but be called to carry conviction
as to their great value as a means of perma
nent investment. In the first place, the mort
gagess hold first lien on the road, which il
In itself sufficient to guarantee the safety o
the investment. Then, again, the great in
crease in the value of the road, and oonse
quently of its stock, is an assured fact. Their
oSn be no competition for years, so that al
actual monopoly is secured for the rpad of al
the trade across the plains, and of the ex
tent Of that trade no one can possibly form
an idea. The through business and the wa.
busin ess will be limited only by the capacit,
Of the freightage.
All that is necessary to make an immens
revenue is the completion of the road anC
many OF the difficulties popularly supposed t,
exist are imaginary. There is an idea tina
great angles OF elevation must be graded anC
vast ascents overcome. Such ia not the case
Because the land is so enormously biob e NJ
reason why it infers steep grade. On tb
contrary, the ascent is almost imperceptible q
and affords no cause of delay. So in referepo
to many of the other supposed objection:
They all disappear before the march of mar
aided by capital and the appliances of science
and the day is near when all will be overcom,
Offering these advantages, then, as an inves
ment, we do not wonder at the readiness wit
which the first mortgages are being absOrbe
Tba uoortOages bear Der cent in gold, al