The Atlantic Monthly, Volume 20, No. 122, December, 1867: A Magazine of Literature, Science, Art, and PoliticsVarious
General
The Atlantic Monthly, Volume 20, No. 122, December, 1867: A Magazine of Literature, Science, Art, and Politics
Various
American periodicals
[C] The point suggested for this divergence southward is in the vicinity
of Pond Creek, four hundred and twenty miles west of the Missouri River.
Thence it will deflect to the southwest, touching the base of the
mountains one hundred and seventy miles beyond Pond Creek, near the
boundary-line between Colorado and New Mexico. Thus, having passed
through Southeastern Colorado, New Mexico, and Arizona, it finds its way
northward, through the marvellously fertile region of Southern
California, to San Francisco. It is noteworthy that this project offers
to Mexico immediate participation in our commerce, affording the basis
of a far more enduring annexation. It is possible that in no far-distant
future, if this scheme is achieved, San Francisco will find a rival in
San Diego,--four hundred and fifty-six miles southeast of the former,
and a much nearer port for the purposes of this route. The project of a
mountain line from Denver to Salt Lake City, connecting at that point
with the Central Railroad, is also said to be entertained by the Kansas
company.
[D] Up to the present time, the Nebraska line has expended about
twenty-five millions; the Central Railroad, twenty-two millions. On two
hundred and fifty-nine miles of the Kansas Road there were also
expended, in cost and equipment, eleven millions. All this has been
obtained from the sale of bonds, paid-in stock, and the net earnings of
the roads. The bonds have been made a popular loan, sold by New York
agents, and chiefly taken in New England, New York State, and Eastern
Pennsylvania. The purchasing clasp, though largely composed of heavy
capitalists, consists also of those who have small sums of money to
invest, and who seek this means as especially secure.
The stockholders of the Union Pacific number from one to two hundred,
but most of the shares are in a few hands; the Credit Mobilier, Durant,
and the Ameses being the principal owners. The Central Railroad also
exhibits the same phenomenon of few shareholders; all of them, of
course, large capitalists. This gives great power in pushing the work
on, and illustrates the tendency of the day toward consolidation.
Hereafter, when the Central and Nebraska lines shall have combined, this
commanding influence of a comparatively few men will make itself
signally felt in our politics.
GRANDMOTHER'S STORY: THE GREAT SNOW.
It had been snowing all day, and when father came in at dark he said
that the wind was rising, and the storm gathering power every moment,
and that before morning all the roads would be fast locked.
Public-domain text, read in full here on John Shaqi.
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