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LearnCalifornia.org - Central Pacific Railroad (5790 words) |
 | The Union Pacific, chartered by the Pacific Railroad Act of 1862, was formally organized in October 1863 to construct west from the Missouri River and across the Great Plains and Rockies until it met the Central Pacific coming the other way. |
| The Union Pacific was to receive the same land grants and government bond loans as the Central Pacific, but got off to a much slower start than the CP because of the Civil War raging literally in its backyard. |
| Completing the Pacific railroad (it wouldn't be commonly called the "transcontinental railroad" for another year or two) had the same effect on the popular imagination as would man's walking on the moon one hundred years and a couple of months later. |
| Central Pacific Railroad - Wikipedia, the free encyclopedia (1704 words) |
| June 23, 1870: Central Pacific is consolidated with the Western Pacific and San Francisco Bay Railroad Co. to form the "Central Pacific Railroad Co." (of June, 1870). |
| August 22, 1870: Central Pacific Railroad Co. is consolidated with the California and Oregon; San Francisco, Oakland and Alameda; and San Joaquin Valley Railroad; to form the "Central Pacific Railroad Co.", a new corporation. |
| Using only the Central Pacific and the Union Pacific systems as the basis for his investigation, the author concludes that the railroad owners received unaided rates of return which substantially exceeded the private rate of return on the average alternative project in the economy during the same period. |
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