The Middlebury register. [volume] (Middlebury, Vt.) 1850-1882, 1868-12-22

Z
100 lies, and both companies are pushing for
ward the work with gre 1 en- ,rsv, employing Over
30 900 men, there can e no doubt that the who,
GRAND LIN TO TIE PACIFIC
will be open for business in the summer of 1859.
The lular Government Commissioners have
pronounced the I'm on Pacific kiilrtad to be-
FIRST CLASS IN every respect, and the Special
Commit sioncf appointed by TIE Fresi lent saws
Taken as a whole, TIiE UNroS lACIrIC RAIL
ROAD HAS BEEN WELL CCNsfEuSTED, AND THE
GENERAL RoUIE FOR rnL LINE Ike bel INoLY WELL.
,Et.lcTED. lne energY an perseverance with
which the work has been urged forward; and tn
rapdity with Which ii las been execute ~
.. n III parallel IN history, an in Sriudsur al
magnitude al unjei iak,nE IL "a never becu equai
led. The report states TINT ANY deic encies tho
exist are only those incident to al new roat,-,
anil that could NOT have been aV, led without ma
terially retarling the progress If the great woIN
such defcieucies are supplied by n ! railroad com
panies after the completion Of tue line, when az
wherever eX Yeliunco shows Them ~ nc nc,essarp
The report cOucludcS bY saving that "thr cuuntr,
has reason 10 congratulate i selI thai THIS EicI
work ot nlti-na importance is 80 riIodly D.
pr0athing compilation un Ter suth favorable Gns
Iices lac Company now have in use u loo
motives and nearly 1900 cars ut all deNcrpii' ~
lar, :, all si1Hd "a , n5ll - "rl rcd 20 "r
ready in the spyn-. he sralirg !, ntaTly vom-
pleted, aud tits distributed iur 10 mic in
va &C OF the western end of the tro'k Fuill d
mlHs If iron ior new track are nov deli err d We
Of the Miss luri l.ivvr, and 20 miles are ea roG'r
The total Expenditure for construction purpose /.
advance of the completed portion OF the road
not es than ciGhg million dollars,
Be,ilcsa donation from the Govt Il ~
acres OF land CT mile, the { mpanN a title {.
n subsidy IN L. y. BunGs on it, line hs s'lnp e'e
AM accepted at the average rate "l a" ut e" o
o. cr miie according to he difficulties en- o"h-
,er,d, tor winch the Government takes sea n
zen as srrlritv + c Company nave al rady
received % ,l53,000 Of this nuh'ily, # which CT =
$4,000 was pad Dec. 9th, ami S6IO,OOO Dec.
lith.
Government Aid. Security f the I ondj
By is charter, the Company per il tied 10
sue its own tirst No 'tgaSe Bo d, to lie 9 me
amount as tie Government bOdas, a'd no n.'fe.
r. csc bonds are a First Mortgage upon the Nt"i
road and all its equipments. Such moHs 90
upOn what, for a long time will be the only tIu-
road connecting the Atlantic aud Pacific state.
axes the highest rinH as safe security. The earn.
nss from the wav or lo'al business for The Yea
ending June 3Jth, ISIS, on AZ average Of A.
miles, were over FOUR MILL Ion DOLLARS,
which, after paying all expenses, were h
more than sufficient to cover all interest liability
upol that district. and u e earnin-s Tor the las,
five months have been 81 $685. II ey would
have been greater, il the read had not been taxed
to Its utmost capa2 ty TO transport its own mate
rial /, Construcuou. The income from the great
passenger travel. the China iteisats, aud tue up
plies for the new Rocky Noun ain States an
Territories must lie ample for all interest J'1'
other liabilities. No political action can rciuee
the rate OF interest. It must remain for thirty
years-sx per cent. per amman in gold, now
equal to between eight and ulue cent. In cur
rency. The principal is then payable in 20 d. Ii
a bond " it'll such guarantees were issued y the
Government, its market price would not less
than from 20 to p per cent premium A these
bonds we're issued under Government authority
AID supervision, upon what is Ntry largely aGuv'
ernmcnt work. they must nj matrly approach
Government prices. No other corporate bonds
are made ~ secure.
The plice for the present Is Par and accrued in'
torest per cert from July !, l 6S in cur1' ueN'
Subscriptions will he received in