Union Pacific Corporation

The first Union Pacific Railroad was incorporated on July 1, 1862, under the Pacific Railroad Act of 1862 approved by President Abraham Lincoln. It aimed to construct railroads from the Missouri River to the Pacific as a war measure for the preservation of the Union.

Omaha National Bank served as the registrar for the initial issuance of Union Pacific Corporation stock. Bank officials verified and signed each corporation certificate of registrar, processing approximately 27,000,000 shares of stock.

In May 1869, Union Pacific connected with Central Pacific at Promontory, Utah. This significant event marked the completion of the first transcontinental railroad in the United States.

Jay Gould signed traffic agreements to consolidate freight, passenger, and express business on Union Pacific and Kansas Pacific Railway, operating the two roads as a single route.

Jay Gould and his investor associates agreed to purchase controlling interest in the Kansas Pacific Railway, which had been in receivership since November 1876.

Union Pacific Railroad was consolidated with Kansas Pacific Railway and Denver Pacific Railway on January 24, 1880 to form the Union Pacific Railway. Jay Gould controlled all three railroads.

On October 13, 1893, Union Pacific Railway declared bankruptcy and was placed under the control of an independent receiver, reflecting the economic challenges faced by the company during the Panic of 1893.

In July 1897, Union Pacific Railroad (UP) was incorporated as a reorganization of Union Pacific Railway, which had been in receivership since 1893. The company operated all UP lines in Nebraska, Kansas, Colorado, and Wyoming, extending into Ogden, Utah.

In 1922, the Union Pacific and Southern Pacific railroads were separated, leading to significant changes in the railway industry.

The debut of the M-10000 Streamliner in 1934 revolutionized passenger train travel with its innovative design and speed capabilities.

UP 4014 is a 4-8-8-4 Big Boy class freight steam locomotive, delivered in 1941. It is the largest operational steam locomotive in the world and was withdrawn from revenue service in 1961.

During World War II, a Boeing B-17 Flying Fortress named Spirit of the Union Pacific was dedicated to recognize war bond contributions from Union Pacific employees. Unfortunately, the plane was shot down over Germany in 1943, leading to most of its crew being taken as prisoners of war.

UP 844, also known as No. 8444, is a 4-8-4 Northern type express passenger steam locomotive that was the last steam locomotive built for UP. It has been in continuous service since its delivery in 1944.

On January 30, 1969, the Board of Directors of Union Pacific Railroad Company approved the creation of Union Pacific Corporation as a new holding company. The reorganization involved an exchange offer for the existing preferred and common stock of the railroad company.

On August 28, 1969, Union Pacific and Celanese Corporation announced an agreement in principle for the acquisition of Champlin Petroleum Company and Pontiac Refining Corp. This deal included oil subsidiaries with significant daily production and refining capacities.

On June 26, 1971, all non-railroad properties of the Union Pacific Railroad were transferred to Union Pacific Corporation.

The Interstate Commerce Commission (ICC) approved the merger between Union Pacific (UP) and Chicago, Rock Island and Pacific Railroad (CRI&P) on November 8, 1974, after a lengthy and complex case.

Union Pacific withdrew its application to merge with Chicago, Rock Island and Pacific Railroad due to financial issues and ICC conditions. This led to the dismissal of the proposed merger.

On January 1, 1983, Union Pacific officially took over the accounts and interests of Western Pacific and Missouri Pacific, solidifying its control over the two railroads.

In 1984, the merger between Union Pacific, Missouri Pacific, and Western Pacific railroads was approved, leading to the consolidation of these major railway companies.

On May 3, 1987, the Union Pacific Corporation merged its subsidiaries, Champlin Petroleum and the Rocky Mountain Energy Company, into a single group known as the Union Pacific Resources Group. This move aimed to enhance cost efficiency and productivity in the natural resource sector.

In 1990, Union Pacific exchanged its 23 percent ownership of Los Angeles Union Passenger Terminal with Santa Fe Pacific Realty in exchange for property previously owned by LAUPT.

On October 5, 1994, Union Pacific made an offer to buy and merge with Santa Fe Pacific Corporation for $3.4 billion, competing with BN's $2.5 billion offer.

On October 31, 1994, Union Pacific Corporation announced the sale of its USPCI subsidiary to Laidlaw, Inc. for a reported sum of $225 million. This divestiture marked a strategic decision in Union Pacific's corporate restructuring.

Union Pacific Corporation acquired 71.6 percent of Chicago & Northwestern Transportation Company stock, resulting in ownership of 99.5 percent of all CNWT stock.

Union Pacific's board of directors gave the green light to the merger agreement with Southern Pacific Railroad.

Union Pacific and Southern Pacific officially announced their merger agreement, marking a significant step towards consolidation.

UP formally merged with Chicago & Northwestern Transportation Company on October 1, 1995. This merger led to the cessation of C&NW's existence and compensation for its employees.

On January 17, 1996, Union Pacific's acquisition of Southern Pacific Rail Corporation was approved at a special meeting by 85 percent of SP's outstanding shares.

On August 6, 1996, Union Pacific's control of Southern Pacific, including D&RGW and SSW, was approved by the Surface Transportation Board (STB).

On September 11, 1996, Union Pacific Corporation was granted control of Southern Pacific Rail Corporation, which controlled various railway companies, with an effective date of October 1, 1996.

On October 15, 1996, Union Pacific Corporation spun off its remaining 83 percent stake in Union Pacific Resources Group, which owned 7.5 million acres of land in the western states.

In 1998, the Union Pacific Corporation merged the third Union Pacific Railroad into the Southern Pacific Transportation Company, which became the surviving railroad and was renamed as the fourth incarnation of the Union Pacific Railroad.

Union Pacific Corporation announced plans to relocate its corporate headquarters to Omaha by July 1, 1999. Negotiations began for the construction of a new headquarters building after the move.

The new Union Pacific headquarters building in Omaha was opened in June 2004, three years after the commencement of construction.

In 2008, the Union Pacific opened its new headquarters in Omaha, Nebraska.

Maury Klein's 'Union Pacific: The Reconfiguration' is the third volume in his history of Union Pacific, published in 2011. It covers a period of UP's history, focusing on the personalities of the leaders of both the corporation and the railroad.

In 2015, UP 844 was rebuilt and returned to service in 2016. It is notable for being the only steam locomotive to never be officially retired from a North American Class I railroad.

In the fiscal year 2017, Union Pacific reported earnings of US$3.388 billion and an annual revenue of US$24.46 billion, showing a 6.5% increase from the previous fiscal cycle. The company's shares traded at over $31 per share, with a market capitalization of US$105.2 billion in October 2018.

Restoration of UP 4014 to full operating condition was completed in May 2019, with its first excursion taking place that month. The locomotive was moved from Pomona to Cheyenne for restoration.

Union Pacific Corporation reported Total CO2e emissions (Direct + Indirect) for the twelve months ending 31 December 2020 at 9,157 Kt, which was a decrease of 1,258 Kt or 12.1% year-over-year. The company aims to achieve net zero emissions by 2050.