New-York tribune., 1868-04-20
BANKING AND FINANCIAL
THE UNION PACIFIC RAILROAD.

THE UNION PACIFIC RAILROAD.
The telegraph informs us that the Union Paci-
fc Railroad is now finished over tho highest
point of the Rocky Mountains which is to
be traversed anywhere along the line OF
172l miles between Omaha and San Fran
cisco. As most of our readers know, this Grand Pa
cifc Railroad Line Is being built by two powerful
Companies, The UNION PACIFIC, beginning at Oma-
ha building west and the Central Pacific of Cali
fornia beginning at Sacramento building east, until
the two roads shall meet The amount Of Government
aid given to each is dependent upon the length of
road each shall build and therefore both companies
are prompted to great efforts to the construc-
ton and control of what, when completed will be
ONE AND THE ONLY GRAND RAILROAD LINE con
NECTrNti THE ATLANTIC AND PACIFIC COASTS.
Both Companies have prosecuted the WORK with
great vigor the Union Pacific having already cx-
pended over THIRTY MILLION DOLLARS. and the
Central over Tcenfy Millions upon their respective
parts of the undertaking. THE UNION PACIFIC HAVE
COMPLETED $50 miles of their work; have iron and
other materials for 200 miles more upon the ground
and 100 additional miles are ready for the track.
They will have a much larger force employed this
year than ever before and it is expected that be-
tween 500 and 900 miles will be in operation during
1sGs There seems to be reasonable doubt that the
distance between Omaha and Sacramento will be
traversed by rail in 1870.
The means for building the Union Pacific are
ample
First THE L. S. GOVERNMENT GRANTS TIE RIGHT
OF WAY and all necessary timber and stone from the
public domain.
Second IT MAKES A DONATION OF ~ 500 acres OF
land TO the mile, amounting to over twenty million
acres, to be selected along the line Of the road.
Third IT GRANTS U. 8. BONDS to an average
amount OF $2S.OOO per mile; for which it takes
second lien, thus pledging this sum to the COmpanys
First Mortgage Bondholders as additional security.
Fourth The COMPANY ARE PERMITTED TO ISSUE
their own FIRST MORTGAGE BONDS TO tho same
amount as they receive from the United States, and
no more
FY1h THE AUTHORIZED CAPITAL STOCK Of the
Union Pacific Company is One Hundred Million Dol
lars, of which over eight and onehaf millions have
been paid upon the work already done. Additional
capital will be paid in the wants of the Company
demand, although it is not expected that more than
twenty-five millions in all will be required.
The supposed great difficulties in the way of build
ing the Pacific Railroad have diminished they
have been encountered. Contracts for the construc
ton of 9l4 miles west from Omaha, comprising much
of the most difficult mountain worksbave been made
with responsible parties (who have already finished
$50 miles, at the average rate Of sixtyeght thousand
and fty-eight dollars $GS 0jS) per mile This price
includes all necessary carshops depots stations and
all other incidental buildings, and also locomotives.
passenger, baggage and freight cars, and other re-
quiste rOlngstock, to an amount that shall not be
less than 1880 per mile. Allowing the cost of the
remaining 1856 of the l1OO miles assumed to be built
by the Union Pacific Company TO DC $4,000 per mile,
TIE TOTAL COST OF ELEVEN HUNDRED MILES AND EQIP-
HENT WILL BE AS FOLLOWS:
sid mites ~ 0
Add Interest and miscellaneous expenses, sur
Yeys, 5oOOOV
Amount. s2445Ol2
AVAILABLE CASH RESOURCES FOR BUILDING ELEVEN
HUNDRED MILES:
U. 3. Bonds. s3939s'OOO
Capital stock paid in the work dOne... s95OOOO
Land Grant, lOo0O0O acres at 81 90 per acre.. H2ocO
72e,ooo
The full value of the lands cannot be realized at
present but the Company have ample facilities for
supplying any deficiency that may arise in means for
construction This may be done wholly or in part by
additional subscriptions TO the stock for the capital
which refused at the beginning of the enterprise
is now freely and abundantly offered its security
and profit are demonstrated.
No one has ever expressed doubt that as soon as
the road is completed its through business will be
abundantly profitable. Until recently the road has
run through wilderness for almost its entire length;
but every year brings an influx of population its
local traffic will have steadily increasing value.
At present, its transportation for the Government
and for the mining regions is the chief source Of its
already large revenue. AS these mining regions are
penetrated, the earnings will be greatly increased
and the various branch lines that will soon be con-
structed will DO most valuable feeders of the main
trunk.
The road was run by the contractors until April
1867, but its earnings from May l. 1867 to December
81, 1867, period of eight months are officially re-
ported as follows.
From Passen gersf S52G7Tp 23
From Express. 1885 O5