Letter from Samuel B. Reed to Wife and Family, January 27, 1867

In this letter from January 27, 1867, Samuel Reed writes to his wife and family describing the decision of the Union Pacific Railroad's executive committee during their recent meetings. The committee "let" the contract to Credit Moblier from the 100^th Meridian "to the base of the mountains." Reed also describes the recent decline of the stock market.

New York
January 27, 1867

I did not write you Saturday because the Board was hard at work and I was being called on very often for information. They have let the contract to Credit Mobilier from the 100th meridian to the base of the mountains, but will not let over the mountains until the President decides where the mountains commence. No changes have been made in the management at Omaha and from present appearances there will be no change. The stock market has been very much depressed for several days and many men that heretofore have been wealthy, have gone under as the saying is. Government securities are firm and not effected by the panic in railroad stocks.