The History of Union Pacific Corporation: From Federal Charter to Transcontinental Railroad
Union Pacific Corporation is a transportation company that operates one of the largest railroad networks in North America. The company was founded on July 1, 1862, by the federal government as part of the Pacific Railroad Act, which authorized the construction of a transcontinental railroad.
The Union Pacific Company was originally chartered to build a railroad from the Missouri River to the Pacific Ocean. The company was granted a total of 20 million acres of land and $16,000 per mile of track laid as incentives to complete the project. The goal was to connect the eastern and western parts of the United States, making transportation and communication across the country faster and more efficient.
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