The Wyandot pioneer. (Upper Sandusky, Ohio) 1853-1868, 1867-07-11
a UPPER sANDUsKY OHIO, THURSDAY MORNING JULY H. 1867

} JRSDA4 MORNING, JUL
| the Government, for without it, al
/ its own lands would remain almos
worthless. It is donation of ever,
alternate section for 90 miles or
each side of the road, or l 900 acres
per mile, and amounts to 20,032,00(
acres, assuming the distance from
!, Omaha to the California State line to
be 1855 miles. Much of this land
especially in the Valley of the Great
Platte, is rich alluvium, and is con
sidered equal to any in the world 70,
agricultural purposes. Hon. E. D.
Mansfield, the learned Commissioners
of Statistics for the State Of Ohio,
estimates that at least 8, 400. .0O0acre
will be available to the Company
within a moderate length of time, and
that it is far within bounds to esti-
mate this entire grant at $3.50 an
acre, or S30,900,OO0. The Illinois
Central has realized more than four
times this sum from a similar grant.
REcAPITULATIoN. OF MEANS EoR ], ,565
MILES. .rs...
Z. s. BONDS. equal to money, sA 2OS, 900
First Mortgage Bonds, A 2OS 600
Land grant, 90 o32 900 acres, say = 3O,O0OOOO
IL Ee.s.laes5 a.sEJ.5.si'1 ..,r-- Sis, ,416 900
equal to q cost of nearly $4,000
per mile, which is believed to be a
liberal estimate This does not take
into the account the value OF the
right of way and material, the stock
subscription already paid in or to be
paid in the future, or the present
discount at which the bonds are of
fered, as they are expected soon to
be at par.
The interest Of the bonds is ifiore
than provided for by the net earn
ings of the various sections Of the
road, as they are completed. On
the. 800 miles ON which the cars are
now running west from Omaha, the
receipts for the first two weeks in
May were $4,000; and as the road
is extended towards the great min
ing centres, the business in freight
and passengers constantly increases
and as there can be no competi-
ton from rival roads, the Company
has full power to charge remunera-
tive prices+
PROSPECTS FOR FUTURE BUSINESS.
1t needs no argument to show
that the traffic of the only railroad
connecting the Atlantic and the Pa
cific, and passing through the great
mining region, must be immense.
Although our annual product Of
the precious metals is now estimated
at Slo0,000,o00 pei annum, a vastly
greater sum will be obtained as soon
as the Union Pacific Railroad opens
the'way to the golden regions ofthe
Rocky Mountains Row, the diff
culties and cost of communication
are SO great, that none but the very
richest veins can be worked; but
with cheap transportation, hundreds
Of thousands Of hardy miners will
successfully deyelope other mines,
that with less costly working, will
be even more profitable than the
average Of those now in operation;
and the business Of this constantly
increasing mining interest must pass
over this road.
The records of our shipping off
ces show that not less than 10000
passengers now annually travel by
sea between the Atlantic ports and
San Francisco; and these ireckoned
at $3.50 eac1i (about one half the
steamer price would produce rev
enue of 81, 100000.
The overland travel is even greater.
In a single year, treNtg seren thou
sand teams, comprising vast num-
Der of emigrants and travellers, de-
parted from two points only on the
Missouri River on their westward
journey. If the truth of this state
ment was not familiar to all frontier
men, it might well be questioned
But, estimating the overland through
travel at the same figures as that by
steamer, and we have SIS, 5,OO0,0 600
as the minimum estimate on the
same number of passengers. But
the facilities for cheap and rapid
transit furnished by railroad always
vastly increases the amount of travel
with the same population. The diff
ference between the Numbers who
would take an ocean steamer or a
prairie wagon and a modern palace
car, with it's luxurious state-rooms,
where the traveller eats. and sleeps
almost as comfortably as at home,
may be as great as the difference be-
tween the numbers who were jolted
over the mountains in an fash
ioned stage-coach and those in an
Express train between any two great
cities. Then, is it not safe to say
that this through travel will be at
once doubled on the completion of
the road in 1870, and, with the rapid
increase of Pacific Coast population
in the next few years, more than
quadrupled ? Is it at all extravagant
to assert that the through passenger
business during the first year after
the first train of cars runs from
Omaha in Nebraska to Sacramento,
will be worth twenty-five million
dollars? When to this we add half
as much more for its way passen-
ger business, and more than as much |
more than both for its freights, ex-
presses and mails, ETC., are there not
the best reasons in the world for
believing that the Union Pacific
Railroad will be one of the most |
profitable as well as one of the !
works of modern times? !
THE SECURITY AND VALUE OF ITs
~ a4 II 90 BONDS.
VT boJ-o ,,iodn th ne<r f-o1o11 n tiopc