The Brigham Young Center

Great Salt Lake City, U. T. Nov. 10, 1862.

Hon. Henry V. Poor,
New York City,

Sir:

Your favor of the 16th ult., "books of subscription to the Capital Stock of the Union Pacific Railroad Company", and my authority for opening said books in this City came safely to hand on the 6th inst. The date of my reception of the books necessarily prevented my opening them on the 1st inst., as I should have been pleased to have done; but presuming that to be a point of minor consideration under the circumstances, I at once prepared a notice for insertion in the next issue of the Deseret News, informing the public that said books would be opened in my office in this city on the 12th inst., the very earliest day on which I could give the subject the requisite publicity.

On the 26th of September, in reply to a note from the Hon. W. B. Ogden, president of U. P. R. Company, I informed him that we were wealthy in labor and the developed products of this region, but comparatively poor as to cash. Such is still our condition, and for this reason I think, however much we desire the early commencement, vigorous prosecution and speedy completion of the Railroad, that our cash subscriptions will not meet the anticipations of our friends in the Eastern States, and will be far short of the figures we are able and ready to foot up in labor and the products of the country.

The present price of a share will also serve as a drawback upon subscriptions here, for in newly settled places like this there are but few wealthy capitalists, the means being still disseminated in small amounts among the many, who each have almost constant use for the amount at any time at control.

Should the Company succeed, as I trust they will, in inducing Congress, during its next Session, to change the price of a share to one hundred Dollars and permit us to pay our subscriptions in labor, provisions, and such materials as we produce here, then Utah's subscription will probably much exceed that of any other equally portion of our country.

In the meantime, though I have advertized in accordance with requirement, the scarcity of money and our remoteness from Banks and Banking facilities will of necessity confine our subscriptions to labor, provisions, and such materials as we do and my produce here, as already stated. For this reason would it not be best for the company to authorize me to take subscriptions in said articles, as it is through them that the Road will be made?

With the assurance that myself and the people of Utah, so far as I am informed, are anxious and ready to aid, according to our ability and facilities, in building the Pacific Railroad. subscribe myself,

Very Respectfully

Brigham Young