Evening star. [volume] (Washington, D.C.) 1854-1972, 1868-12-23
the UNION PACIFIC RAILROAD COMPANY
UIFER LIMIrIo AMOUNT OF THEIR
FIRST MORTGAGE BONDS
AT PAR.

NINE HUNDRED AND SIXTY MILES
or the lire West from Omaha are now completed,
aud the work is going on through the Winter.
As the distance between the fnished portion Of
the Enion and Central Pacific Railroads is nov
less than 400 miles and both com panies are push
Jog forward the work with great energy, employ
ing 30 cvo neP, there can be no doubt that the
whole
GRAND LINE TO THE PACIFIC
will be open for Business in the Summer Of
1869.
The regular Government Commissioners ba We
pronounced the Union Pacific Railroad to be
FIRST GLASS in every respect, and the Special
Commission appointed By the President says:
"Tsken as q wh,Ie, THE UNION PACIFIC
RAILROAD HAS BEEN WE'LL CONSTRUCT
I'D, AND THE GBNERAL ROUTE FOB THE
LINE ENCEEDINGLY WELL SELECTED.
The energy and perseverance with which 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 it has never been equalied " The Re port
states that deficiencies that exist only those
incident to all new roads. an that could not have
been avoided without materially retsrding the
progress Of the great work. Such Deficiencies are
supplied by all railroad Companies sfter the CON-
piefion OF the line, when and wherever txpe.
rience shows them to be necessary. The report
concludes by saying that 1.-THE Country has rea-
Of national importance is so rapidly approach
ing completion upder such fsversUle auspices
Inc Company now have IN use lI locomotive and
nearly 2 GOO cars Of all descriptions large addi
nonai equipment 10 ordered 70 be ready in the
spring. The grading is nearly com pie ted and ties
distributed for IT, miles in sdv ance of the western
end OF the track, Fully lf0 miles of iron for the
rev track are now delivered west OF the Missouri
River, and 30 miles more ca roKle. The total
e1pe, ditures for con srucion purposes IN advance
of the completed portion of the road is not than
eight millien dollars
Besides a donation from the Government OF
l2.S0 Acres Of land per mile, the Company is en-.
titled 10 q subsidy In q. s. Bynds On its line ~
completed and excepted, at the average rate OF
about S2e 900 per mile. scco Tdns the difficulties
encountered, for which the Government takes q
second lien as security. The Comrany have al
ready received S2zJ5s 0oof this subsidy, of which
81 $50 0CJ was paid December 9th and $50 900
December 18th
GOVERNMENT AbtD.SHECURIrY AID o. THE
By its charter. the Com pany is permitted TO il
sue to own FIRST MOKTGAGE BONDS to the
same amount as the Government bonds, aad no
NOR. These BONDS are q First Mortgage upon the
whole road and all its equipments. Such mort
gage upon what, for lope time, will be the only
railroad connecting the Atlantic aud Pacific
States, takes the highest rank a safe security,
The earnings from the way er local business for
the year ending June 30, 1858, svers.e Of AZ
miles. were ever FOUR MILLION DOLLARS
which, after paying ali ex expenses, we're much more
than sufficient to cover a interest liability upon
that distance, and the earnings of the last five
months have been S2.3S3.SG They would have
been greater If the road had not been taxed to its
utmost capacity to transport It's own materials for
construction. Theincorls from the great passenger
travel the China reiahts, and the pplies for the
new Rocky Mountain States and Territories must
be ample for all interest and other liabilities
No political action reduce the rate OF interest
1t must remain for thirty years-SiE per cent. per
aHnuB7 iR sotd, now equal to between eisht aud
nire per cent. in currency Tie principal is iaer
pGyGtls IN gold. If a bond with such guarantees
we're issued by the Government, il, market price
would not be less than from % to IS per cent ore
MUM. As these bonds issued under Govern
ment authority ard supervision, upon what is
very largely Government work, they must ulti-
mately approach Government prices. No other
corporate bonds are made secure.
The piice for the present is Pau, and accrued
interest at per cent from July 1865 in currency
Subscr ptions will he
RECEIVED IN WAsHINcroy Ry
First National Bank.
Rittenhouse, Fowler a. Co.
and in New York
A. the COrpany's Office, No. 70 Nassau
John }. Cisco a. Son. Bankers, No. 50
Wall Street,
And by the Compapys advertised agents through
out the United States.
Bonds ssRt free. bBt parties srtScrtbiRg through
lceaL cssH.s .oiH t0v TO ;AsEl Jor their saJ. de-
IIr.ry.
NEW PAMPHLET AND MAP WAS is
SUED OCTOBER IsT, cor optaining a report of the
progress Of the work to that date and q more com
plete statement in relation to the value of the
bends than can be given in an advertisement
which will be sent free application at the Com
psny ohices, or to any of the sdvertised agents
JOHN }. CISCO, Treasurer, New York.
Decenber 18th, 1853. Ge2l.Im