The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1868-12-19

The regular Government Comm issioners have pro
nounced the Union Pacific Railroad TO be FIRST.
GLASS In every respect, and the special Comulisson
appointed Dy the President ssysi-
"rsken as a whole. TB UNION PACIFIC Rail-
ROAD HAS BEEN WELL OONSr UCTED. AND
THE GENERAL ROUTE FOR THE LINE Ex.
CEEDINGLY WE'LL SELECTED. The energy snd
perseverance with which the work has been urged
forward and the sIty with which 1t has been
executed without parallel IN story, and In gran
deur and magnitude OF undertaking il has never been
equalled." The Report states that any deficiencies
that exist only those incident to all newroads ana
that could have been avoided without materially
retarding the progress OF the great work. such def
ciencies supplied by all railroad companies after
the completion OF the line, when and wherever sxpe-
rIence shows them TO be necessary. The report
eludes by saying that he country has TO con-
grRulRte Itself that this great weIk Of national Inn
portRnce is rapidly approaching completion under
such favorable auspices" The Company now have In
1877 locomotives aud nearly 2O0O Of all Grip
tons large additional equipment lis ordered be
ready in the Spring. The grading is nearly ompleed.
aud ties dsrlbuted for 40 mIles In advance Of the
western end of the track Fully l20 miles OF
new track delivered west OF the Missouri
River, and 20 miles more are route. The total
pendtures for construction purposes in advance OF
the completed portion OF the road Is not less than
eight million dollars
Besides donation from the Government OF 1880
OF land mile, the Company is entitled TO o
subsidy In U. S. Bonds It's line completed ana
accepted at the average of about $4,000 per mle
according to the difficulties encountered, for which
the Government takes second lien security. Ths
Company have already received s22 l58,0JO OF this
subsidy, of which 81 $50 zoo paid Dec Q, and
f640 COO LeC. IA,
Government Aid-SCcuriiy Of the BOndss
BY It's charter, the Company Is permitted to issue
TIlFT AflI NOM ma
amount ss the Government Bonds, and moro,
These Bonds First Mortgage upon the whole
II ad and all its equipments. Such u mortgage upon
hat for lori time. will be the only railroad CON
Mt TIM the Atlantic and Pacific ststes, takes the
higl est rank q safe security, The earnings from
the az local business for the year ending June S
1868, OF an average of 472 miles, over FOUR
MILLION DOLLARS. which, after paying all ex-
penses, muCh more than sufficient to cover air
interest liability upon that distance and the earn
ings for the last five months have been O. SSs s7e
They would have been greater II the road had NOT
been taxed TO It's utmost capacity to transport Its
material for construction. The income from tho
great passenger travel, the China freghts aud the
supplies for the Rocky Mountain States and Tex-
rtorCs must be aplefor all Interest and other liza
blitits. No political action reduce the rate OF
Interest. IL must ain for thirty years-st1 per
cent per aI gold now equal to between eight
and nine per cent In currency. The principal then
toyable II, gold. II bond with guarantees were.
issued by the Government, Its market price would
less than from 20 to 20 cent. premium. Ak
these bonds ars Issued under Government authority
and supervision, upon what is very largely a Gov
ernment work, they most ultimately approach Gov
ernmeni prices. No other corporate bonda made
so SECURE,
The price for the present iI PAR, aud accrued In
terest per cent from July /, 1865, in currency.
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