Year: 1871

Uaion Pacific Railroad Report


BosToN, March S.-The report of the Presi-
dent of the Union Pacific Railroad to the stock
holders was presented at the directors meeting
to-day, from which the following extracts are
made


''We have very muchimproved our road dur
ing the past year By smoothing and perfecting
the road bed, strengthening the snow-sheds
where they showed signs of weakness last
winter, increasing the amount of snow-fences,
and 60 effectually has the road been protected
during the past winter from obstructions by
snow that we have IN no instance mi-sed con-
nection at either end of the line, while roads
East through Iowa have been detained over
twentv-four hours.


'sThe great dangers contemplated from the
SHOWS of Platte Valley and Laramie Plains have
proved groundless, aud the Union Pacific road
can be run with more certainty OF being unob-
structed by snow than the railroads of New
EuglaI and New York. The waut Of a bridge
over the Missouri river at Omaha, to connect
Eastern railIo oads with the Union Pacific las
been one of the most annoying incidents con-
nected with the trip to California. The uncer-
tain and turbulent character of the river, with
it's shifting banks, has made its passage uncer-
tain and frequently extremely tedious.


''During the past year We have been actively at





manent and durable structure as can be made
for use during the summer. An act has been
obtained from Congress authorizing the mort.
gage of the bridge. We propose now TO issue
90, 500 600 Of twenty year eight per cent mort
gage bonds 10 provide notes for the completion
of the bridge. The tolls on the bridge will be
fixed at a rate sufficient to pay the interest on
the bonds and set apart enough to the sinking
| fund to redeem them at maturity. 1t is pro-
| posed to make the bridge carriage-way for the
accommodation of travel between the cities of
Omaha and Council Bluffs, and from which it is
| expected to derive an income largely in excess
of the additional cost; without interference with
| its use for railroad purposes.


"The increased facilities opened by the rail-
| road for reaching the mining districts, have
| greatly stimulated the development of the
mines. Colorado and Utah are now opening
some of the richest mines yet discovered in our
country. The mines in the Vicinity of Salt
Lake are exciting great attention. 1t is esti-
mated that from ten thousand to fifteen thou
sand settlers and miners will be drawn there the
ensuing season. The amount of ore to be sent
over our road to smelling works East and in
EBgland is estimated at five thousand to ten
thousand tons daily.


awhile the machinery and supplies necessary
to develop successfully and prOfitably the
mines will give very large westward bu inese
to our road, our prospects of business from Sail
Lake City and vicinity are very encouraging,
and we shall be greatly disappointed if it is not
more lhan double last year.


"Our coal mines have proved fully equal TO oui
most sanguine expectations, both in regard te
the superior quality of the coal as a steam gene.
rator and the extent of the deposits 1t is be.
lieyed thereis no better coal in this country foI
locomotive service, and nowhere can it be more
cheaply mined. Iron ore of very superior
Quality and in vast quantities has been discovered
in the vicinity of Cheyenne and Laramie.


"We have the promise of the iron district here
that 1t will be able to compete successfully with
the most favored localities of our country. Ex
tensive iron works must spring mp upon the line
of our road, and we shall be furnished with
cheap iron for all its uses.


''Coal and iron, the most necessary and essen
tial materials for the construction and operation
of railroads, are found on the line OF the
road in unlimited quantities and of the fines
quality. They Iare sure guarantees that tn,
road can be maintained and operated at the
lowest rates"