The New York herald., 1871-03-09
INE UNION PACIFIC RAILROAD
The Past, Present and Future Of
the Great TranscOntinen-
tai Th0roughfare.
The Coal, Iron and Silver Mines Of Colo
RADIO and Utah
Secretary Boutwell, and Attorney
General Alderman Sharply Crit
cised by Oliver Anes.
BOSTON, March s, 1871

The annual meeting OF the Union Pacific Railroad
stockholders was reld at their rooms in this city,
to-day, The attendance was quite large, but there
was not much interest or excitement and the pro-
ceedings were universally harmonious.
The meeting was called TO order by Hon. Oliver
Ames, President OF the corporation, who submitted
his annual report, as fonows:-
FUTURE PROSPECTS, OF THE ROAD.
During account of the great depression
of business in California; the carnns OF road have not
economy nsasurated in deparment OF business,
year earnings via be sufficient pay the
.l our bonds We have yers much Improved our roads
bed our snowsheas where they showed Signs
fences and so enectaay has our road been protected
during the past Writer from Obstruction by snow tina, we
ne while the roads through Iowa, have
ssd the S the Vs sss he
s n With seny Of as
by SHOWS than e railroads OF New England ana New York
Our repair shops Eryan aud wahsatch have been
& as & Se ss az s s 4
The dihS1'y o. removing our locomotives should IRE
put ap shops Evanston of sufficient capacity to
AZ both Of shops We s
lion Of os shops A. but NO; cary enoah 70 com
force US 70 postpone their coueon Ill spring They viii
Gated os Bear river with an aHupdSe Of u1 ase hhe 10
In the immediate vicinity OF one OF the mos,
sRipcINe OF ruE MISSOURI RIVER.
10 the Eastern raioads with the Union Paeil has
% Ssen 10 one II ne most M with The
the river. with its shifting banks has made passage
certain and frequently extremely tedious Turing past
year hare been actively at work the bridge and
made ready Tor use lie ensuing summer.
Mr. T. E. scEes the CHIEF engineer OF the company SUBJ
condition OF the Missouri river bridge from which extract
The bIdges Of eren Of $50 feet each so feet
and eleven rom pers ali IN pace and The spe par Of
them already sunk from sxy 10 sevenyswo feet in the
An piers VIII completed by the time the supersucure
The pneumatic system sinking the piers specially
applicable 10 me eons,e,on @ q ,onnaaons ior bridges
have been found 70 depth Of ty eet below low water
when reached invariably smooth surface worn by
artion OF sand upon It, The shortest time IN which any
column has reached in sweny,four hours was st feet
material Tor Is rapidly moved and VIII be completed
The east approach and half mile long rising from
The tsbeand In council bluis to the bridge thirty
yards earth AID there has put in ~ steam shoyes
and three trains OF during the past winter 81 cubic
with energetic prosecution work Mr. sickes is Of
Ihe he sas sva sesg ss # for NJ highway travel
sns s'e s @ and s the
1on sy cars taxing as 3.ss tae present transfer Of
an Council Bus Iowa. and The Uuion pacec,
70 for The 1870, the charged. s7S4s0 In
view Of the rapid growth OF Council m Bluffs and Omaha,
ton Induced by cheap along the line Of the road
iara generally the road with
s dr s @ s s 70 s see % N ssas CATTLE
An act has been obtained from Congress authorizing a
o. eg6 cen, lOTtgase bonds provide
bridge a sufficient pay nteres. on
he bonds and set apart enough 70 sinking fund 70 redeem
for The q aye between the cities
% sn i income largely additional cosi
and 1t S S M or rs 5El ssa %n
The increased OPENED ey the railroad for reach
OF the mines. Colorado and Utah opening
% IN s he se @ are aa e Sar
teniion It is estimated that from lco to l50O settlers
amount OF to be sent over our road 10 smeng works
daily while the machinery and supplies develop
successfully and protaoy the mines win very
from Salt Lake City and vicinity are very encourasng
be more than double what year Our coal mines
have proved ny eqaa to our most sansane expectations
generator snd the extent of the deposit 1t
and none where cheapiy mined. Iron ore oi
very superior Quality az and ysss mas eeep disco
promise Of an iron district here ha, win be ABLE
Extensive iron works must spring up ON the line Of road
% 1o &c e aos sai ana Sn % al | @
the construction and operation o. Iaroad are found
maintained ana operated at the lowest rates.
THE UNION PACIFIC LAND SAILS.
The sale of lands the settlement country
increase of business mus, be derived from this source
sa the
our road s stock raising on the Platte Valley and Laramie
ss. and the rapid of the sooRs and hsprSs
Hundreds Of Carloads Of beef and cattle daily to the
with the nutritious grasses winch been
70 pas. ages tne pasture ~ m o. herds o. buffalo that
open for the COCKS and herds Of the enierprng settler
only limited by the capacity OF Eastern markets Tor
Cattle that purchased last summer dol
lars each and have cost but one dollar since for their
three years Old thai viii weigh from eight 10 ten hundred
pounds These plains seite up Tor many yeas
and they offer 70 capital Of The natterng Openings
BUSINESS FROM CHINA, JAPAN AND MONTANA
secure the Of the teas ana Ss o. China and
Japan Arrangements have been recently made that wil
and during the coming season increase
business ha. has for long period chanrel Is
from 1a a S. sa s ns Of sa nd
The Montana business from the east previous to last year,
Last year apoTtion Of |, road This year
g for Montana on at
DIG AT sHc.rIAhY boutwell, AND ATTonsEY
The great which taken place in our securi
ns we a eon Sn:
On The cost Of IT'S oyer the pans and TO the
Gordon of soldiers for eighteen hundred miles
bad opened interior settlement seven years
q ss y of ne
became so hostile TO shake the credit of the corpora
ton. The Treasury Department first refused
United States Pacific Railroad bonds basis
banking, and thus esened mercantile value: next
selecied and these bonds
tons Of the public debt portion debt OF The
United Saies but OF road exclusively thus apparently
ndicstng ne irresponsoiiy and thereby again essening
with interest but the nteres due by u.s.
and lett unpaid, and then, OF all, OF all
withheld from all earnings IN the transportation OF
letters newspspers, packages and OF the navy,
all of which hitherto bad PAID oneba
Of Congress The Treasury Department fortified
IN the last OF injustice by the opinion OF the
torney These repeated blows against
great OF the Unexpectedly directed
credit time for IL and felt that
could Withstand such attacks aud hence those
wild variations In the market value of securities
The Judiciary Committee United States
Ievey except one Offset their legal opinion that the
not due against the opinion OF the Attorney
General thai II all due and every other committee in
both houses OF Congress before whom the question was
brought the Judiciary CON mee OF the Senate.
Of Congress finally reversed the action Of the
Treasury Department and of tue Attorney General the
Representatives without divson) and the result
the credit OF the company with great
.A. .aaaal In III = eGl