Evening star. [volume] (Washington, D.C.) 1854-1972, 1868-12-22
GRAND LINE TO THE PACII


whole
GRAND LINE TO THE PACIFIC
Will he open for Business in the Summer OF
1869.
The regular Government Commissioners have
pronounced the Union Pacific Railroad TO be
FIRST CLASS in every respect, and the Special
Commission appointed by the President says:
Taken a whole. THE UNION PACIFIC
RAILROAD HAS BEEN WE'LL CONSTRUCT.
ED, AND THE GENERAL ROUTE FOR TIE
LINE EXCEEDINGLY WELL SELECTED.
The energy and perseverance with witch the work
has been urged forward, and the rapidity with
which II has been executed without parallel in
history, and in grandeur and magnitude of under
taking II has never been equslled.' The Re port
states that deficiencies that exist are only those
incident TO all new roads and that cculG no: have
been avoided without materially retsy.'ing the
progress OF the great work. Such defiCi.ncies are
supplied 10y all railroad compahies after the COM
petion of the line, when and wherever expe.
rience shows them to be necessary. The report
concludes BY saying thst ''the country has rea-
son to congratulate itself that this great work
OF national Importance is so rapidly approach
ing completion under such fsvsraUle auspices ,,
The Company now have 10 use I3 locomotives and
nearly 1900 cars of all descriptions A large adii
nonal Equipment is ordered to be ready in the
Spring. The grading is nearly com pie ted, and ties
distributed for u miles in advance of the western
end OF the track, Fully l50 miles of iron for tie
new track are now delivered west of the Missouri
River, and 40 miles more are IN rou.e. The total
eape ditures for cOnstruction purposes in advance
of the completed portion of the road not less than
eight million dollars.
Besides donation from the Government of
l2,s so acres Of land per mile, the Company is en-
titled TO a subsidy in L. s. Bonds on i's line a.
completed and excepted, at the average rate of
about S29 200 per mile, acco riding 10 the difficulties
encountered, for which the Government takes a
second lien as security. The Comrany have al
ready received Sells 0C0of this subsidy of which
Sl2SOOoI was paid December 9th and S6iO COZ
December l4th
GOVERNMENT AID-SECURITY OF TIE
BONDS.
By its charter, the Company is permitted 10 is
sue ts own FIRST MORTGAGE BONDS to the
same smount As the Government bonds, qaF ~
mors These Bonds a First Mortgage upop the
whole road and all its equipments. Such mort
gage upon what. for Ions time, will be the only
railroad connecting The AtlRntIc and Pacific
States, takes the highest rank as "A safe security
The earnings from the way local business for
the year ending June 20, 1873 on an av.rsge of 40
miles, were over FOUR MILLION DOLLARS
which, Alter paying ali expenses were much more
than sufficient 20 cover sll interest liability upou
that distance, and the earnings of the last i've
months have leen a. 3} So. They would have
been greater If the road hal not been taxed to its
utmost capacity to transport its Own materas FOR
construction The income from the great passenger
travel tie China freights and the supple. for the
new Rocky Mountain States and Territories must
be ample for all interest ami other liabilities
No political action can reduce the OF interest
1t must remsin for thirty yesrs-Siy pr cent per
GnnDH7 IN gOtd, now equal t. between eight and
nine per cent. in currency. IL. prinripal IS tue,
payable IN S0id. Ifa bond with such guarantees,
were issued by the Government, its market price
would not be less than from 20 to Is Der cent vre
MUM. As these bonds are issued under Govern
ment authority and supervision, upon what is
very largely Government work, they must uIti-
mately approach Government prices. No other
corporate bonds are made so secure.
The price for the present il PAR, and accrued
interest at per cent from July l. ISIS in currency
Subscrip ptiOns will be
RkCEIVED N AsUINGroN,
First National Bank.
RittenhOuse. Fowler 4 Co.
ard in New York
At the COmpany's Office, No. 20 Nassau
John J. Cisco 4 Son, Bankers, No 30
Wall Street.
And by tie Company's advertised agents throu, n
out the United STATES
BoHdS S"t fr"'. hrt P0ltisS Su5vrri5rr. taygygh
ioc1t Gg.HtS 1cTl i,g. 10 ta.nl for .igfr SpC fs-
iir.ry.
NEW PAMPHLET AND MAP WAS Is
SUED OCTOBER lST, containing a report of the
progress of the work to that date, aud q more com
pefe statement ia relation to the value of the
bonds than can be given in an advertisement,
which will be sent free on application at the Com.
psny offices, or to any of the advertised agents
JOHN }. CISCO. Treasurer. New York.
December 18th, 1873. aeaI.Im