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It is the parent company of the current, Delaware-registered, form of the Union Pacific Railroad. Thomas Clark Durant was an American investor and railroad executive. Later, the original UP was in financial troubles because of the financial crisis of 1873 but did not go into bankruptcy. The Union Pacific Corporation originally purchased a portion of the Southern Pacific Rail Corporation under the UP Acquisition Corporation subsidiary; the UP Acquisition Corporation subsidiary originally acquired 25 percent of SP's outstanding common shares for $25 per share cash. Union Pacific also appears pricey compared to other railroad companies, which have much more conservative multiples. For example, CSX trades at … Union Pacific Corporation used to have short lived subsidiaries: The Union Pacific Corporation operated the Overnite Transportation Company, a trucking company, until it was sold to United Parcel Service (UPS) and renamed UPS Freight. The original UP was entangled in the Crédit Mobilier scandal, exposed in 1872. The act was approved by President Abraham Lincoln, and it provided for the construction of railroads from the Missouri River to the Pacific as a war measure for the preservation of the Union. Union Pacific (NYSE: UNP) spends most of its money on compensation & benefits for its employees, which accounted for 30% of the company’s total expenditure in 2018. Collis P. Huntington – One of the Big Four co-founders of the Central Pacific Railroad, founder of Huntington, West Virginia while helping construct the Chesapeake and Ohio Railway George Pullman – Inventor of the Pullman sleeper (a luxury sleeping car) and founder of the Pullman Company The Missouri Pacific Railroad continued operations until January 1, 1997 when it was merged into the third Union Pacific Railroad by the Union Pacific Corporation. Establishment and current ownership of the current Union Pacific Railroad, Merger history and subsidiary involvement during the merger history, Learn how and when to remove these template messages, Learn how and when to remove this template message, Chicago and North Western Transportation Company, Chicago and North Western Holdings Corporation, "Union Pacific Corporation 2018 Annual Report (Form 10-K)", "Form 10-K Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the Fiscal Year Ended December 31, 2010 Union Pacific Corporation", "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, "Commission File Number 1-6075 : UNION PACIFIC CORPORATION", "Entity Details: SOUTHERN PACIFIC RAIL CORPORATION - Utah Business Search - Utah.gov", http://getfilings.com/o0000100885-97-000002.html, https://www.sec.gov/Archives/edgar/data/100889/0000100889-97-000002.txt, "SEC Info - Chicago & North Western Transportation Co/DE - '10-K' for 12/31/94", "CHICAGO & NORTH WESTERN TRANSPORTATION CO /DE/ (Form Type: SC 13D/A, Filing Date: 03/10/1995)", "COMPANY NEWS; Union Pacific to Buy Chicago and North Western", "Entity Details: UP RAIL, INC. - Utah Business Search - Utah.gov", "MISSOURI PACIFIC RAILROAD COMPANY AND SUBSIDIARY COMPANIES, NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)", "Southern Pacific Rail Corporation - crunchbase", Photographs of the Construction of the Union Pacific Railroad, 1868–69, Beinecke Rare Book and Manuscript Library at Yale University, https://en.wikipedia.org/w/index.php?title=Union_Pacific_Corporation&oldid=986826152, Companies in the Dow Jones Transportation Average, Companies listed on the New York Stock Exchange, Pages with non-numeric formatnum arguments, Articles needing additional references from September 2017, All articles needing additional references, Articles needing cleanup from September 2017, Cleanup tagged articles with a reason field from September 2017, Wikipedia pages needing cleanup from September 2017, Articles with multiple maintenance issues, Articles with disputed statements from January 2019, Creative Commons Attribution-ShareAlike License, This page was last edited on 3 November 2020, at 06:47. Later the headquarters was shifted to Dallas, Texas, before relocating the corporate headquarters to Omaha to join the Union Pacific Railroad headquarters. The subsidiaries UP Holding Company, Union Pacific Merger Company and UP Acquisition Corporation were part of the Union Pacific take over of the Southern Pacific Rail Corporation (formerly the second Rio Grande Industries) and the Southern Pacific Transportation Company, the current Union Pacific Railroad. Located in downtown Council Bluffs, Iowa, the historic building contains more than 150 years worth of unique railroad artifacts, precious photos and exciting interactive displays. He relocated the corporate headquarters to Bethlehem, Pennsylvania. The Union Pacific Corporation merged the third Union Pacific Railroad into the Southern Pacific Transportation Company in 1998; the Southern Pacific Transportation Company becomes the surviving railroad and at the same time the Union Pacific Corporation renamed the Southern Pacific Transportation Company to fourth incarnation of the Union Pacific Railroad. The Union Pacific Corporation (Union Pacific) is a publicly traded railroad holding company.It was incorporated in Utah in 1969 and is headquartered in Omaha, Nebraska.It is the parent company of the current, Delaware-registered, form of the Union Pacific Railroad. The third Union Pacific Railroad lasted until 1998 when it was replaced by the fourth incarnation, formerly the Southern Pacific Transportation Company, the last incarnation of the Southern Pacific railroad. We invite you to explore how the nation’s largest railroad came to be and how UP continues to build America with innovation and tenacity, touching the lives of nearly every citizen. Founded in 1984, the Union Pacific Historical Society (UPHS) is an independent non-profit organization dedicated to the preservation of the history of the Union Pacific Railroad from its beginning in 1862 to the operation as it is today. It has also been suggested that UP Holding Company was originally known as "CNW Holdings" (or "CNW Holdings, Inc."). Although the railroad got off to a good start, a team of magnates, so-called the Big Four¹, were eyeing the growing company. He played a pivotal role in the creation of the first railway that encompassed the western United States. Explore a list of critical dates that tell the story of the railroad's 150+ year history. Philip Frederick Anschutz (/ ˈænʃuːts / AN-shoots; born December 28, 1939) is an American billionaire businessman who owns or controls many companies in a variety of industries, including energy, railroads, real estate, sports, newspapers, movies, theaters, arenas and music. [12][13], In April 1995, the former Chicago and North Western Holdings Corporation (the second Chicago and North Western Transportation Company), along with the Chicago and North Western Railway (formerly the first Chicago and North Western Transportation Company), was acquired by the Union Pacific Corporation.[14][15]. The first Union Pacific Railroad, pronounced "Union Pacific Rail Road" was incorporated on July 1, 1862, under an act of Congress entitled Pacific Railroad Act of 1862. Register to access Secure Tools, Applications and Reports to help simplify your business. Celebrating the legacy of Abraham Lincoln, the man who set the transcontinental railroad in motion and brought the railroad to life. UPRR remained under partial federal control until the 1890s. Founded July 1, 1862, when President Lincoln signed the Pacific Railway Act, Union Pacific has been building America for more than 150 years. Trace the progress of Union Pacific and Central Pacific railroads as they raced to complete the transcontinental railroad and discover the communities they created along the way. The Union Pacific Corporation has a portfolio of acquiring the Missouri Pacific Railroad which included the Missouri–Kansas–Texas Railroad, the Chicago and North Western Transportation Company, the Western Pacific Railroad, the Denver and Rio Grande Western Railroad, the St. Louis Southwestern Railway, the SPCSL Corporation, and the Southern Pacific Transportation Company. The Union Pacific Corporation's main competitor is Burlington Northern Santa Fe, LLC, the parent company of BNSF Railway. The Union Pacific Corporation merged the Western Pacific Railroad into the third Union Pacific Railroad and then merged the Missouri–Kansas–Texas Railroad into the Missouri Pacific Railroad and transferred direct ownership of the Missouri Pacific Railroad to the third Union Pacific Railroad. The UPRR main line started in Council Bluffs, Iowa and moved west to link up with the Central Pacific Railroadline, w… [11] A joint UP-CNW subsidiary, Western Railroad Properties (or "Western Railroad Properties, Inc."), was also merged into the Union Pacific system. The Union Pacific was chartered by Congress, through the Pacific Railroad Act of 1862, to construct a portion of the first transcontinental line, starting in Omaha and proceeding westward through the Platte River Valley. All railroads not including the Southern Pacific Transportation Company were merged into the previous form of the Union Pacific Railroad. Union Pacific subsequently acquired Missouri Pacific and the Western Pacific. The Pacific Railway A Brief History of Building the Transcontinental Railroad. 1939), B&O 1985–1986, CSXT 1986–1988 Yes, Union Pacific’s (NYSE: UNP) stock is fairly priced in our view. A shortage of workers in California forced the Central Pacific Railroad to hire about 10,000 workers from. The Southern Pacific Rail Corporation remained a subsidiary of the Union Pacific Corporation until 2015 when it was merged into the former Southern Pacific Transportation Company, the current Union Pacific Railroad. In 1897 a new "Union Pacific Railroad" (pronounced "Railroad") was formed and the Union Pacific Railway was merged into the new Union Pacific Railroad. The Union Pacific Corporation was established the same year the current Union Pacific railroad began. On September 10, 1996, the Union Pacific Merger Company was merged into the Union Pacific Corporation.[11]. [9] CNW Holdings could be mistaken for the Chicago and North Western Holdings Corporation, the former parent company of the Chicago and North Western. The Union Pacific Corporation merged the Denver and Rio Grande Western Railroad, the St. Louis Southwestern Railway and the SPCSL Corporation into the third Union Pacific Railroad. Jim Phelps had a large collection of UP employee timetables, from all of the railroad's divisions, as far back as the 1930s. It was incorporated in Utah in 1969[2][4] and is headquartered in Omaha, Nebraska. The Union Pacific claimed merely it was the best run railroad in the land. Union Pacific celebrates the shared stories that have shaped our country since 1862. The Union Pacific Corporation (Union Pacific) is a publicly traded railroad holding company. [17] Southern Pacific had financial problems and its mileage was dropped to 13,715 miles (22,072 km) by 1996. Union Pacific Railroad is the Family history & genealogical information, Past and Present Railroad Job Descriptions. The Union Pacific Corporation operated the Southern Pacific Rail Corporation (formerly the second Rio Grande Industries and former parent company for the current Union Pacific railroad) until 2015 when it was merged into the current primary railroad subsidiary.[8][9]. According to the Utah corporation database, it has been suggested that the Southern Pacific Rail Corporation was merged into UP Holding Company[18][19] and UP Holding Company was renamed Southern Pacific Rail Corporation, becoming a second incarnation of the Southern Pacific Rail Corporation. But most were from the 1940s and later. The Union Pacific Railroad network is the largest in the United States and is serviced by 45,400 employees. One of the … Subsequently, the Union Pacific's establishment is usually credited to its largest stockholder Doctor Thomas Clark (T.C.) The CP was the western leg of the Transcontinental Railroad, formed on July 1, 1862 when the Pacific Railroad Act was signed into law by President Abraham Lincoln. He was serving as vice president of the Union Pacific railroad (UP) in 1869 when it was connected with the Central Pacific railroad at Promontory Summit in Utah territory. Union Pacific is the largest railroad in North America, covering 23 states across the western two-thirds of the United States Register to access Secure Tools, Applications and … [5] Lance M. Fritz is the current chairman, president and chief executive officer. Finally, the Union Pacific Corporation merged the second Chicago and North Western Transportation Company (formerly Chicago and North Western Holdings Corporation) and the Chicago and North Western Railway (formerly the first Chicago and North Western Transportation Company) into the third Union Pacific Railroad, the Chicago and North Western system is now part of the Union Pacific Railroad system. BNSF is the nation's second largest freight rail network and primarily services the same territory as Union Pacific, west of the Mississippi River. Union Pacific Corporation is among the leading railroad networks in the U.S. Its stock price has appreciated by around 25% in 2013. The Union Pacific Corporation is the parent company of all UP subsidiaries and operating companies besides the current Union Pacific Railroad (the largest operating company). Founded July 1, 1862, when President Lincoln signed the Pacific Railway Act, Union Pacific has been building America for more than 150 years. See a sampling of the more than 500,000 images in the Union Pacific Museum archives. [16] The Union Pacific Corporation merged UP Rail into the third Union Pacific Railroad. If you are a supplier, contractor or carrier, please visit the. We estimate the price to be $177 per share based on expected 2020 earnings, which compares with the … In September 1996, the Union Pacific Corporation acquired the remaining 75 percent of SP common shares not previously owned by the Union Pacific Corporation. There were also copies of magazines and just a few railroad calendars. In 1868, they purchased the Southern Pacific. In 1988 the company grew even larger when it purchased the Katy (the Missouri-Kansas-Texas Railroad) and in 1995 did the same with the Chicago & North Western, providing it access to Wyoming's Powder River Basin coal fields. See Article History Central Pacific Railroad, American railroad company founded in 1861 by a group of California merchants known later as the “Big Four” (Collis P. Huntington, Leland Stanford, Mark Hopkins, and Charles Crocker); they are best remembered for having built part of the first American transcontinental rail line. The Union Pacific Railway declared bankruptcy during the Panic of 1893. The combined Union Pacific-Central Pacific line became known as the First Transcontinental Railroad and Overland Route. [7] This Union Pacific Railroad is the third incarnation, and the third incarnation makes up the bulk of the Union Pacific history. The Union Pacific Railroad reporting mark UP is a Class I line haul freight railroad that operates 8,300 locomotives over 31,800 route-miles in 23 states west of Chicago, Illinois and New Orleans, Louisiana. The Union Pacific was largely financed by federal loans and land grants, but it overextended itself through its involvement in the Crédit Mobilier scandal, in which a few manipulators reaped enormous profits.After exposure of the scheme, which left the railroad badly in debt, the company went into receivership in 1893. The Union Pacific Corporation, under the current Union Pacific Railroad, owns the Alton and Southern Railway, a switching railroad. The Union Pacific Corporation was established in 1969 with its incorporation in Utah and it was established to take control of the then third incarnation of the Union Pacific Railroad later referred to as Mark I and its non-railroad subsidiaries. Union Pacific was located in New York City from the company's re-founding in 1969 until Drew Lewis became CEO in the mid-1980s. The former Southern Pacific Transportation Company is now operating as the current incarnation of the Union Pacific Railroad. The Union Pacific Corporation purchased the Southern Pacific Rail Corporation which included the Southern Pacific Transportation Company, the Denver and Rio Grande Western Railroad, the St. Louis Southwestern Railway and the SPCSL Corporation. Union Pacific Railroad Chief Engineer Grenville Dodge named the town for James Evans, who surveyed the eastern half of the railroad's route through Wyoming Territory and probably never set eyes on his namesake.. Evanston's first structure and business enterprise was a … [6] It was constructed westward from Council Bluffs, Iowa to meet the Central Pacific Railroad line, which was constructed eastward from San Francisco Bay. UP Holdings was merged into UP Rail. Smith, Richard Earl Trainmaster Texas-Pacific Missouri-Pacific Railroad 1961–1968 Smucker, David E. , LIRR 1949–1950 Snow, John W. (b. Collis P. Huntington (1821-1900): One of the “Big Four” founders of the Central Pacific Railroad. Southern Pacific Railroad. The Southern Pacific Railroad was founded in 1865 by a group of businessmen led by Timothy Phelps. Union Pacific Railroad: Part of the Transcontinental Railroad. As part of the UP-SP merger which included the merging of the Denver and Rio Grande Western Railroad, the St. Louis Southwestern Railway and the SPCSL Corporation into the previous form of the Union Pacific Railroad, the Union Pacific Corporation merged the previous form of the Union Pacific Railroad into the Southern Pacific Transportation Company and renamed the Southern Pacific Transportation Company to the current form of the Union Pacific Railroad. The laws were passed as war measures to forge closer ties with California and Oregon, which otherwise took six months to reach. Explore Railroad History! Union Pacific Railroad Expands Founder Abraham Lincoln's Vision by Connecting American Businesses to the Global Economy. [11], The subsidiaries UP Leasing Corporation, UP Rail and UP Holdings were part of the Union Pacific take over of the Chicago and North Western Transportation Company which was renamed to its original name Chicago and North Western Railway, and its holding company, the Chicago and North Western Holdings Corporation which was renamed to the second Chicago and North Western Transportation Company. Its slogan: an understated "We can handle it." The Central Pacific Railroad (CPRR) was a rail company chartered by U.S. Congress in 1862 to build a railroad eastwards from Sacramento, California, to complete the western part of the "First Transcontinental Railroad" in North America.Incorporated in 1861, CPRR ceased operation in 1885 when it was acquired by Southern Pacific Railroad as a leased line. Southern Pacific Railroad, one of the great American railroad systems, established in 1861 by the “big four” of western railroad building— Collis P. Huntington, Leland Stanford, Mark Hopkins, and Charles Crocker.After completing the Central Pacific from California to Utah in 1869, they started the Southern Pacific as a branch line into southern California. Union Pacific was located in New York City from the company's re-founding in 1969 until Drew Lewis became CEO in the mid-1980s. The "train stuff" was more than 20 boxes of railroad timetables, mostly Union Pacific but with a few other roads. To make rail service more reliable, in 1883 the American Railway Association ... Its founders good decisions and honest business practices. ... Union Pacific and Central Pacific. The current Union Pacific Railroad is the fourth incarnation and it is referred to as Mark II; the current incarnation of the Union Pacific Railroad is formerly known as the Southern Pacific Transportation Company, the last incarnation of the Southern Pacific railroad. The original company, Union Pacific Rail Road (UPRR), was created and funded by the federal government by Pacific Railroad Acts of 1862 and 1864. In 1862, the Central Pacific and the Union Pacific Railroad Companies began building a transcontinental railroad that would link the United States from east to … After the completion of the transcontinental railroad, communities all along the backbone of the Western U.S. were forever changed. See how. Union Pacific operates North America's premier railroad franchise, covering 23 states in the western two-thirds of the United States. The original company was taken over by the new Union Pacific Railway on January 24, 1880 and the original company was merged into the Union Pacific Railway. BNSF Railway Company http://www.bnsf.com Canadian National http://www.cn.ca Canadian Pacific Railway http://www.cpr.ca CSX Transportation http://www.csxt.com The Union Pacific Corporation merged the third Union Pacific Railroad into the Southern Pacific Transportation Company and then renamed the Southern Pacific Transportation Company to the current Union Pacific Railroad. Evanston, the county seat of Uinta County, is located in the southwestern corner of the state in the Bear River Valley. Together, Union Pacific and BNSF have a duopoly[dubious – discuss] on all long-haul freight rail service in the Western United States. Its management was noted for many feuds and high turnover. Union Pacific's shares traded at over $31 per share, and its market capitalization was valued at US$105.2 billion in October 2018. In June 1996, the UP Acquisition Corporation was merged into the Union Pacific Corporation, the 25 percent of SP's outstanding common shares is now controlled by the Union Pacific Corporation, leaving only 75 percent of SP common shares not owned by the Union Pacific Corporation that was originally going to the UP Acquisition Corporation subsidiary. The Union Pacific Corporation was established during the tenure of the third Union Pacific Railroad. For the fiscal year 2017, Union Pacific reported earnings of US$3.388 billion, with an annual revenue of US$244.582 billion, an increase of 6.5% over the previous fiscal cycle. Located in historic downtown Council Bluffs, Iowa, on the Missouri River, we're a great place for friends and family to come and learn about the Union Pacific Railroad. William Howe (1803-1852): Engineer from Spencer, Massachusetts, who patented a truss design in 1840 that became a common feature on the Union Pacific and Central Pacific railroad bridges. The Union Pacific merger history began with the Union Pacific Corporation acquiring the Missouri Pacific Railroad (which included the Missouri–Kansas–Texas Railroad, and the Western Pacific Railroad. Starting with the construction of the first transcontinental railroad, surviving the country's multiple economic crises, supporting America's military men and women through conflicts and forging forward to overcome hurricanes, floods and droughts, Union Pacific remains a trusted mainstay on America's landscape. This legislation had created Union Pacific to begin construction westward from Omaha/Council Bluffs and the CP would strike out eastward from Sacramento. Omaha, Neb., February 10, 2012 – When Abraham Lincoln signed the Pacific Railway Act of July 1, 1862, creating the original Union Pacific, his vision for the transcontinental railroad was to connect a nation from east to west.

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