The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1868-12-22
Grand Line to the Pacific
Will be Open for Business in the Summer
of 1869.

The regular Government Commissioners have pro-
nounced the Union Pacific Railroad to be FIRST
CLASS In every respect, and the Special Commission
appointed by the President says:-
'iTaken as q whole. TH Il UNION PACIFIC RAIL.
ROAD HAS BEEN WELL CONST UCTED, AND
THE GENERAL ROUTE FOR THE LINE EX-
CEEDINGLY WELL SELECTED. The energy aud
perseverance with which the work has been urged
forward and the rspicity with which 1t has been
executed without parallel in story, and In gran
deur and magnitude of undertaking 1t has never been
eQualled." The Report states that any deficiencies
that exist only those incident to s newrosds and
that cOulo not nave been avoided without materially
retsrdpg the progress of the great work. Such def
Ciencies supplied by all railroad companies after
the pleon OF the line, when and wherever eKpe-
rience shows them TO be necessary. The report
oludeB by saying that the country has to
grauate Itself that ths sreat work Of national i'm
porance SO rapidly approaching compile ion under
such favorable auspices" The Company now have ia
locomotives and nearly 1000 Of all de Grip
tous large additional equipment lis ordered to be
ready In the Spring The grading is nearly completed,
AID ties distributed for l20 miles In advance of the
western end the track. Fully l2O miles OF iron for
new track now delivered west Of the Missouri
River, and 80 miles ca route The total ex-
pendtures for construction purposes In advance Of
the completed portion of the roNd not less than
eight million dollars
Besides n donation from the Government Of $500
acres OF land per mile, the Company Is entitled to
subsidy In U. S. Bonds on is line completed and
accepted at the average of $4,000 per nile
according to the difficulties encounter ed for which
The Government tskeB a second lien as security. Ths
Company have already received $22 1853 go Of this
subsidy, Of which Si2oO 700 was paid Dec. g. and
S640 COO Dec. IA.
Government Aid-Security of the Bonds.
By lts charter, the Company is permitted to issue
Its own FIRST MORTGAGE BONDS to the same
amount as the Government Bonds. and
These Bonds q a riEoG mortgage upon the whole
road and all It's equipments. Such mortgage upon
hat, for long time, will be the only railroad con
Meeting the Atlantic and Pacific States, takes the
high est rank a safe security. The earnings from
the local business 1or the ending June 30
1863 on an average of 472 miles, were over FOUR
MILLION DOLLARS. which, after paying all ex-
penses, were much more than sufficient to cover all
interest liability upon that distance. and the eRrn
ings tor the last five months have been 81 3S8.s7O
They would have been greater II the road had not
been taxed TO It's utmost capacity to transport Its
material for construction The income from the
great passenger travel, the China freights and the
supplies for the new Rocky Mountain States and Ter
ritorits, must be anpleor all interest and other liza
bilies, No political sctlon reduce the rate Of
interest II must rem ain for thirty years-StU per
cent. per dnntna in gold now equal TO between eight
and nine per cent. in currency. The principal IA then
payable in gold. bond with such guarantees were
issued by the Government, Its market price would
not be less than from 20 to rs per cent premium. An
these bonds ars Issued under Government authority
and supervision upon what is very largely Gov.
ernment work, they must ultimately approach Gov
ernment prices No other corporate bonds are made
secure.
The price for the present IL PAR, and accrued In
terest st per from July l. 1865 in currency.
Subscriptions will be received In Philadelphia bv