to exert all its powers to secure the completion of a chain of communication so virtually important to both. 4. That the denationalizing and treasonable effort, now in progress, to separate the slaveholding portion of the Union from the residue, could it be successful, would inevitably be followed by attempts still more flagitious, not only to detach the States on the Pacific, but even to separate the States on the lakes and the Missouri from those on the Atlantic, and possibly from each other; that this audacious and abominable attempt to demolish the fabric of our national government is secretly encouraged, if not openly approved, by at least a portion of the European world; and that the American people are now impelled by every motive of interest, duty, pride and honor, and every instinct of self respect and self preservation, to avert from themselves and their posterity a calamity so enorшuous. 5. That the peculiar character of the pending rebellion, involving, if successful, the utter destruction of our national organization, and the consequent reduction of our hitherto powerful republic to the fragmentary and feeble condition of central Europe, en'ailing on our continent, for centuries to come, perpetual internal strife if not interminable war, imperatively requires not only the utmost exertion of the military and naval power of the government, but the immediate adoption of every measure of civil administration for strengthening the bonds of our existing Union; that nothing will contribute more permanently and effectually to that object than the binding, by an adequate chain of communication, our Pacific coast and the rich metalliferous regions of the interior to the large and powerful group of food-producing States on the Atlantic; and that such a channel of intercourse through this central portion of the continent, occupied by a populous and homogeneous race enjoying easy and daily access to the two great occans of the globe, would enable it not only to resist and defy any further attempt, either at home or abroad, to dismember our territory, but to exercise a commanding influence over the commerce if not over the political destinies of the civilized world. 6. That Congress has acquired a new claim to the gratitude of the people by delegating to an incorporated company the duty and responsibility of constructing and managing this great work of national improvement, and in aiding it by the public credit, and grants of public lands; that through this instrumentality the enterprise will enjoy the benefit of a permanent and steady direction, exempt from the uncertainty and delay of yearly appropriations, and especially from the vicissitudes of party conflicts and the demoralizing effects of party interference, permitting its directors to carry forward the work with activity, intelligence and honesty, on a continuous and systematic plan, undisturbed by any changes or vacillations in our public counsels, or any fluctuations in our public affairs. 7. That the commissioners are profoundly impressed with the conviction that, under the exigencies of our present struggle for national existence, this great channel of intercourse, with its rich and invigorating streams of national commerce and its unrivalled military facilities, is more than ever needed to preserve the American Union from political dissolution; that the pressure of the pending war, so far from affording any reason for delaying its prosecution, shows only the more its urgent necessity; that no time should be lost in securing its speedy completion by every reasonable effort, and that, in a crisis so grave as the present the company and the country may properly and confidently rely on the government promptly to afford to the work any further aid or facility which the virtual interest involved in its vigorous prosecution so evidently requires. 8. That the commissioners will duly proceed to open books of subscription to the stock of the Union Pacific Railroad Company, in the manner and on the terms prescribed in the act of incorporation; that said books be opened on the first Wednesday of November next, at twelve o'clock at noon, in Portland, Maine; Concord, New Hampshire; Rutland, Vermont; Boston, Massachusetts; Providence, Rhode Island; Hartford, Connecticut; New York city; Trenton, New Jersey; Philadelphia city; Wilmington, Delaware; Baltimore, Maryland; Washington city; Columbus, Ohio; Indianapolis, Indiana; Chicago, Illinois; Detroit, Michigan; Milwaukee, Wisconsin; St. Paul, Minnesota; Burlington, Iowa; St. Louis, Missouri; Leavenworth, Kansas; Omaha, Nebraska; Denver City, Colorado; Salt Lake City, Utah; Cleveland and Cincinnati, Ohio; Buffalo and Albany, New York; Wheeling, Virginia; Louisville, Kentucky; Pittsburg, Pennsylvania; Portland, Oregon; Dubuque, Iowa; Carson City, Nevada; San Francisco, California; to be opened in such localities therein as may be designated by or under authority of the president, secretary, and treasurer of this board, or any two of them, and by such persons as they may in like manner appoint. The said books shall remain open at all said places at least two weeks; but if, in the judgment of the president, secretary, and treasurer, or any two of them, it shall prove impracticable to open and keep open the said books at any or either of the said places, such places shall be dispensed with. A cash payment of ten per cent. on the amount of every subscription shall be made by a certificate of deposit to the credit of the treasurer in some bank of good standing, to be approved by him; and on receiving such certificate he shall issue his receipt to the subscriber for the amount. 9. That the security to be given by the treasurer shall be his bond, conditioned for his faithfully accounting for all moneys which may come into his hands, with two sureties to be approved by the president and secretary, for one hundred thousand dollars. The treasurer shall be responsible only for due care in the safe keeping of all moneys which shall actually come into his hands. He shall keep on interest any funds that may accumulate in his hands, at the highest rate consistent with safety. 10. That a committee, consisting of one member from each State and Territory and one from the members at large, be appointed by the president to apply to Congress for any auxiliary legislation which may be necessary and proper to facilitate and expedite the construction of the work which the present board was appointed to promote. 11. That the president, secretary, and treasurer shall, ex officio, be members of each of the committees; and five members, exclusive of the officers of the board, shall constitute a quorum of said committee, convened on due notice to all the members. 12. That a committee of thirteen members be appointed by the president, which shall have advisory powers when the board is not in session, which it may lawfully exercise. 13. That when this board adjourn it sh ll adjourn subject to the call of the president and secretary, upon notice of not less than ten days, addressed by mail to each member, whose address shall be known to those officers. Mr. Tilden, of New York, offered the following resolution, which was adopted. Resolved, That a committee, consisting of five members, be appointed by the president to collect useful information in respect to the contemplated Pacific railroad, the various routes proposed, and the agricultural, mineral, and topographical character of the regions travelled by such routes, and that all the members of this board be requested to transmit to the said committee such information as they may possess or acquire on these subjects. Mr. Cass, of Pennsylvania, offered the following resolutions, which were adopted: Resolved, That the treasurer is authorized and directed to pay the warrants drawn on him by the president and countersigned by the secretary, in sums not less than $50 each, which warrants shall only be drawn for the legitimate expenses of the organization, which occur subsequent to the time of the meeting of the commissioners; but no expense incurred prior to date shall be paid, excepting for the advertising required by the act of incorporation. Resolved, That it shall be the duty of the secretary to keep an account of all warrants drawn on the treasurer by the president and countersigned by him, showing the date, purpose for which drawn, and the amount of said warrant; he shall also have in his office the original bill or voucher, receipted, for which the warrant was drawn. Mr. Ruggles offered the following resolution, which was adopted: Resolved, That it be referred to a committee of three members from New York, to be appointed by the president, to petition the Land Board of New York to exempt from canal tolls all the railroad iron carried on the canals of that State to be used in the construction of the Union Pacific railroad. The communication from the legislature of the Territory of Colorado was then taken from the table, read, and ordered to be placed on file. Mr. Robinson, of California, offered the following resolution, which was adopted: Resolved, unanimously, That the president of the board of commissioners is hereby instructed to petition Congress, immediately after its reassembling in December next, to amend the Pacific Railroad Company's act so that it shall read, that the capital stock of said company shall consist of 1,000,000 shares of $100 each, which shall be subscribed for and held in not more than 2,000 shares by any one person.' On motion of Governor Evans, of Colorado, the following resolution was adopted: Resolved, That the development of prosperous settlements in Colorado, Utah, and Nevada Territories on the direct east and west line between New York and San Francisco has furnished one of the greatest desiderata to the construction and maintenance of the Pacific railroad, and encourages us in our efforts. On motion, a resolution was adopted instructing the officers of the company to accept of the act of incorporation on behalf of the company, and file a certified copy of the proceedings of the convention in the Department of the Interior. Resolved, That the thanks of the board of commissioners of the Union Pacific Railroad Company are hereby tendered to the Hon. W. B. Ogden, president of the board, for the dignified, able, and courteous manner in which he has presided over their deliberations at this first meeting, so important to the interests of the country. The convention then adjourned without day. Proceedings of the Union Pacific Railroad Company, in the matter of opening the books of subscription to the capital stock of said Company. In obedience to the instructions of the board of commissioners of the Union Pacific Railroad Company, at their meeting in Chicago, on the 2d day of September, 1862, and succeeding days, and in compliance with the act of Congress, approved July 1, 1862, establishing said company, the undersigned president, secretary, and treasurer, of said company, proceeded to the discharge of the duties appointed them, and caused books of subscription to the capital stock of said company to be prepared, in form and words following, to wit: UNION PACIFIC RAILROAD COMPANY. Books of subscription to the capital stock of said company. The parties whose names are subscribed hereto, each for himself, and not one for another, hereby agree to take and fill the number of shares set against their respective names, of the capital stock of the Union Pacific Railroad Company, and to pay thereon to the treasurer of said company, at the time of subscribing, the per centum on the amount of such subscription, and to make further payments on shares so subscribed by them, as may be called for by the directors of said company, to be hereafter chosen. Having prepared the books of subscription as aforesaid, the undersigned officers of said company prepared a notification of the opening of said books, of which the following is a copy: UNION PACIFIC RAILROAD COMPANY. Books of subscription to the capital stock of the Union Pacific Railroad Company will be open on Wednesday, the 5th day of November, 1862, at noon, on terms and conditions therein set forth, at the places and with the persons following, at their respective places of business: Albany, New York, Thomas W. Olcott. Baltimore, Maryland, Thomas Swan. Buffalo, New York, Dean Richmond. Boston, Massachusetts, Samuel T. Dana. Burlington, Iowa, Lyman Cook, Cincinnati, Ohio, S. S. L'Hommedieu. Chicago, Illinois, William B. Ogden. Cleveland, Ohio, Amasa Stone. Concord, New Hampshire, Joseph A. Gilmore. Dubuque, Iowa, Platt Smith. Denver City, Colorado, George W. Clayton. Hartford, Connecticut, G. P. Bissell & Co. Indianapolis, Indiana, James M. Ray. Louisville, Kentucky, James Guthrie. Leavenworth, Kansas, General J. C. Stone. Milwaukee, Wisconsin, Ed. D. Hotton. New York city, New York, H. V. Poor, at the office of the secretary of the company, 54 William street. Omaha, Nebraska Territory, Alvin Saunders. Portland, Maine, Charles É. Barrett. Portland, Oregon, Wells, Fargo & Co. Providence, Rhode Island, Walter T. Burgess. San Francisco, California, Wells, Fargo & Co. Washington, District of Columbia, R. W. Latham. By order of the board of commissioners of the Union Pacific Railroad Company: President. HENRY V. POOR, Secretary. Dated at New York, the 25th day of October, 1862. Which notification aforesaid they caused to be printed, and the publication of the same was requested in the following-named newspapers, in nearly all of which said notification was inserted as an advertisement one or more times, to wit: Albany: Daily Journal. Baltimore: Baltimore Patriot. Buffalo Buffalo Advertiser. Boston: Advertiser, Journal, Transcript, Railway Times. New York: Tribune, Times, Post, Herald, Journal of Commerce, and Railroad Journal. Portland, Maine: Daily Press. Philadelphia: Press, Inquirer, United States Gazette, and Railroad Register. Providence Journal. Accompanying a printed copy of the advertisement of the opening of the books was the following note: UNION PACIFIC RAILROAD COMPANY, SECRETARY'S OFFICE, To the Proprietors of the 54 William street, New York, October 30, 1862. GENTLEMEN: Enclosed please-find advertisement of the opening of the books of subscription to the capital stock of the Union Pacific Railroad Company. The present organization being only provisional, for the purpose of securing subscriptions to the capital stock to the amount of $2,000,000, is without funds or authority to contract any debt whatever. Certain charges will, however, be recommended to the company to be organized by the stockholders, for payment; and among them an advertisement of the opening of books of subscription, looking to the new company for payment. You will please give — insertion- of the enclosed, forwarding your bill for the same to this office. Very respectfully, HENRY V. POOR, Secretary. Dated in New York, this 30th day of October, 1862. With each book of subscription, printed and prepared in the manner and form above set forth, a letter of instruction was sent to each person to whom books of subscription to the capital stock was committed, in the form following, the blanks in the copy in each case being appropriately filled: UNION PACIFIC RAILROAD COMPANY, SECRETARY'S OFFICE, Whereas, at a meeting of the board of commissioners of the Union Pacific Railroad Company, held at Bryan Hall, in the city of Chicago, on the 2d day of September, 1862, agreeable to the provisions of an act entitled "An act to aid in the construction of a railroad and telegraph line from the Missouri river to the Pacific ocean, and to secure to the government the use of the same for postal, military, and other purposes," the following resolution was adopted by said board, viz: Resolved, That the commissioners will duly proceed to open books for subscription to the Union Pacific Railroad Company, in the manner and on the |