Industry History | Union Pacific — The Railroad Lincoln Chartered Toward Omaha
· 1862-7
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Industry History | Union Pacific — The Railroad Lincoln Chartered Toward Omaha
kevin
People treat Union Pacific as an Omaha tower that was always a western freight railroad with a ticker.
The company was created on 1 July 1862, when Abraham Lincoln signed the Pacific Railway Act.
The act chartered Union Pacific Railroad to build west from the Missouri River and authorized Central Pacific to build east from California. Each road received land grants and federal bonds per mile completed.
Ground was broken at Omaha in 1863. The first rail was not laid until July 1865, three months after Lincoln was killed.
Early offices sat in Nebraska's territorial capitol, then in the Herndon House at Ninth and Farnam. The railroad leased that hotel in 1870 and bought it in 1875 for 42,000 dollars.
The building served as general headquarters for more than fifty years. It was demolished in 1922.
In 1911 the company moved to Fourteenth and Dodge. In 2004 it occupied Union Pacific Center at 1400 Douglas Street, the glass headquarters that still faces downtown Omaha.
The 1869 meeting of the rails at Promontory, Utah, finished the first transcontinental line. The modern corporation was reincorporated in Utah in 1969 and remains headquartered in this city.
The S and P 500 name still dates itself to the 1862 statute and to the river town that received the first offices.
Photo: Scott Redd, public domain, via Wikimedia Commons. The 2007 view is Union Pacific Center on Douglas Street.
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