Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1868-12-25
Grand Line TO the Pacific

Will be open for Business in the Summer Of 1859.
/ The regular Government Commissioners have
| pronounced the Union Pacific Railroad to be FIRST
/ CLASS in every respect, and the special Commis-
sion appointed by the President saws
e Taken as a whole, THE UNION PACIFIC RAIL
| ROAD HAS BEEN WELL CONSTRUCTED, AND
| THE GENERAL ROUTE FOR THE LINE EX-
CEBDINGLY WELL SELECTED. The energy and
perseverance with which the work has been urged
forward, and the rapidity with which it has been
executed are without parallel In history and in
grandeur and magnitude Of undertaking il has
never been equalled." The Report states that any
deficiencies that exist only those incident to all
roads, and that could not havs been avoided
without materially retarCing the progress Of the
great work. 81 ch deficiencies are supplied by all
railroad companies after the compl ton Of the line
when and wherever experience shows them 10 be
necessary. The report concludes By saving that
the country has TO congratulate itself that
this great OF national mportauc1 is so rapidly
approaching peton under such favorable auspi-
ces" The Company now have in use lJ7 locom1-
tives and nearly 300 cars Of all descriptions A
large additio al equipment il ordered to be ready
in the Spring. The grading Is nearly completed,
and ties distributed for ~ miles in advance Of the
western end OF the track. Fully 10 miles of iron
FOR new track are now delivered west Of the Ms
souri, River, and 90 miles more are en- route. The
total expenditures for construction purposes in adj
vance Of the completed portion Of the road is not
less than eli ,ht million dollars.
Besides a donation from the Gov Of 1900 acres OF
land per mile, the Company is entitled to a sub
sidy 10 L. $ Bonds on its line completed and ac-
cepted at the average rate Of about f-9nIl pen mile
according to the difficulties encountered, for which
the Government takes second lien as security The
Company have already received s27I5So0l Of This
subsidy, Of which 81 rs 1900 paid Dec. 9Th, and
$4,000 Dec. 10th.
Government Aid--Security of the Bonds
BY its charter, the Company is permitted To- .ssue
its own FIRST MORTGAGE BONDS TO the same
amount the Government Bonds, and 10 more.
These Baads are a First Mortgage upon the whole
road and all its equipments. such a mortgage up
on what, Tor a long time, will bee the only railroad
connecting the Atlantic AID Pacific States taxes the
highest rank s. a safs security. The earning from
the way local business Tor the year endiu- June
so, l5fs, on an average u i-2 miles. were over
FOUR MILLION DOLLARS which after paying all
expenses. were much more than sufficient o. cover
ali interest liability upon that distance, and the
earnings for the last five months have been 53Sf-
$50. They would have heeu,Ercator. il the road had
not been taxed o. Is utmost capacity o. tr4uspor;
Its own materials for construction. The income from
the great passenger travel, tic China fire. -h stand
the supplies for the new R0cay Mountain States and
Territories must De ample v AL interest and other
liabilities NJ political action can .uee Tire rate
Of interest Il must remain for tLirts Ye4r--sIx
PR CESr. PR ASNrv Us GOLD. now equal Q. be.
tween G zht and nine Deg cent. .u -lrreueg TEE