Evening star. [volume] (Washington, D.C.) 1854-1972, 1868-12-29

NINE HUHp0ED AND S1ATn mILEO
Ofthe lire West from Omaha are now com pleted,
and the work is going on threugh the Winter.
As the distance between the fiIisbed portion of
he Epion and Central Pacific Railroads Is nov
less than 400 miles, ard both com psnies push
ing forward the work with great energy, employ
Ing over 90 0O0 there be no doubt that the
whole
GRAND LINE TO THE PACIFIC
Will be open Tor Business in the Summer of
1869.
The regular Government Commissioners have
pronounced the Union Pacific Railroad TO be
FIRST CLASS in every respect, AMI the srecial
Commission appointed By the President says:
"Taken as q who'e. THE UNION PACIFIC
RAILROAD HAS BEEN WE'LL CONSTRUCT
I'D, AND TIE GENERAL ROUTE FOB THE
LANE EXCEEDINGLY WELL SELECTED.
The energy and perseverance with which the work
has been urged forward, and the rap,dity With
which 1t has been executed without parallel Ia
history, and in grandeur and magni.lic OF under
taking il has never been equs,ied." The Re port
states that deficiencies th ut exist only those
incident to ali new roads, and that codId not hay
been avoided without materially retarding the
progress of the great work. Such deficiencies are
supplied6y all railroad comrsoes aftsr the CON-
pletjon OF tue line, when and wherever expe-
rience shows them TO be necessary. Tne epors
oneiUies by saying taLt 1.-The Country has re-,
son to congratulate Itself that this great wo K
OF national Importance is rapidly approach
ing completion under such favorable auspices
The Com pzny now have in use lS7 locomotives ard
ueariy 1900 cars of all descriptions. large addi
ticnsl Equipment is ordered to be ready in the
Spring. The grading is nearly comp eted, and ties
distributed for l2D miles in of the western
end OF the track, Fully lzO miles OF iron for the
rev track are now delivered west OF the Missouri
River, and 80 miles more en- Toni.. The total
expe ditures for construction pur poses a1vapce
OF the completed portion OF the road is not less than
eight million dollars.
Besides a donation from the Government of
l2,so acres Of land per mile, the Company is en-
titled to subsidy in q. b. Bonds on its line as
completed and excepted, at the average rate of
about SO 900 per mile, rdipg to the difficulties
encountered, for which the Government takes q
ready received of this subsidy of which
S1ssoOo was paid December 9th and $50 OOo
December lith
CONVENIENT ALD.sECURiTY or THE
BONDS.
BY lis charter, the Company IL permitted TO is
sue to cwn FIRST MORTGAGE BONDS 10 the
same emount as the Cover nment bonJs, and no
more. These Bords are q First Mortgage npon the
whole road and all its equi ipmen:s. Such a mort
gage upon what, Tor q long time, will BE- the only
railroad connecting the Atlantic aud Pacific
States, takes the highest ank as safe security.
The earnings from the way local business for
the year ending June 30, 1853, on average or Az
miles. were over -FOUR MILLION DOLLARS,
which, after paying ali expenses. were much more
than sufficient to cover sll interest liability upon
that distance, ana the earnings of the last iye
months have Leen S2.3S,ST0. They would have
been greater If the road had not been taxed to its
utmost capacity TO transport its materials for
construction. The income from the great passenger
travel the China freiRhts, aud the supplies for the
new Rocky Mountain States and Territories must
be ample for all interest and other liabilities
No political action can reduce tine rate % interest
1t must remain for thirty years-si1 per cent per
ann"m IN gold, row equal to betweea eight and
nine per cent. in currency. tn. principal as tasa
payable IN gold. If q bond with such guarantees
we're issued by the Government, its marke. price
would not be less than from % to Is per cent pre-
MUM. As these bonds are issued under Govern
ment authority and supervision, upon what Is
very largely Government work, they must ulti-
mately approach Government prices. No ether
corporate bonds are made secure.
0The price for the present is Pas. and accrued
interest at per cent from July L. 1865 In carrency
Subscriptions will be
Received IN WASHINGTON, BY
First National Bank.
Rittenhouse, Fowler IL Co.
and in New York
Al the Ccmpany's Office, No. 30 Nassau
John }. Cisco L. Son. Bankers, No. 50
Wall Street,
And by the Comr2Dys advertised agents through
out the United States.
Bonds sent free, but parties sE5Scribipg through
iOoaI agents tciH look to them for Asir SAFE de-
Ertry
NEW PAMPHLET AND MAP WAS IS
SUED OCTOBER 1sT. containing report Of the
progress Of the work to that date. aud more com
plete statement ia relation to the value of TIE
bends than can be given in advertisement
which will be sent free application at the Com
panys officts, or to any Of the advertised agents.
JOHN J. CISCO, Treasurer, New York.
December 18th 1868. as2l I'm