Evening star. [volume] (Washington, D.C.) 1854-1972, 1868-12-28
The UNION PACIFIC RAILROAD COMPANY
lFER A LIMITED AMOUNT OF THEIR
FIRST MORTGAGE BONDS
AT PAR.
NINE HUNDRED AND SIXTY MILES

NINE HUNDRED AND SIXTY MILES
and the work 10 going thrsugL the Winter.
A. the distance between the finished portion Of
the 6nion and Central Pacific Railroads Is nov
less than 400 miles, and both companies are push
iss forward the york with great energy, employ.
ing over 20 0O men, there be no doubt that the
whole
GRAND LINE TO THE PACIFIC
will be open for Busine IS in the Summer OF
1869.
TIE regular Government Commissioners have
pronounced the Union Pacific Railroad 70 be
FIRST GLASS in every respect, and the Special
Commission appointed by she President says:
"TaLen as . whole. The UNION PACIFIC
Ed, AND THE GINERAL ROUTE FOR TIE
LINE EXCEEDINGLY WELL SELECTED.
The energy and perseverance with which the work
has been urged forward, and the rapidity with
which 1t has been Xecuted are without parallel in
history, and in grandeur and magnitude Of under
taking il he's never been equalled." The Report
states that deficiencies that exist oaly those
incident 10 all new roads, and that coald not have
been avoided without materially retsrdiny the
progress of the great work. such deficiencies are
supplied by all railroad companies after the CON-
pletion o. the line, when And wherever expe-
rience shows them to be necessary. The repori
ODcludes by saying that ''the csuutry has rea-
son to congratulate itself that this great work
OF national importance 10 50 rapidly approach
ing completion under such favorable auspices.'
The Company now have in use l37 locomotives and
nearly 200 cars Of all descriptions large addi-
tioDal Equipment 10 ordered to be ready in the
Spring. The grading il nearly plsted, and ties
distributed for l2 miles in advance of the western
end Of the track. Fully lzO miles of iron for the
new track are now delivered west of the Missoori
River and 80 miles more route. The total
eIpe ditures for construction purposes in advance
OF the completed portion of the road is not less than
eight millisn dollars.
Besides a donation from the Government OF
1870 acres Of land per mile, the Company 10 en-
titled to q subsidy in U. b. Bonds on its lire as
completed and excepted, ~ he average rate OF
about go 600 per mile, riding to he dicalties
encountered, for which the Government takes q
second lien security. The Company have al
ready received S22 l5s OoOof this subsidy, of which
siasO1ooo was paid December 9th and SsaO oOo
December l4th.
EUNDS.
By its charter. the Company is permitted to is
sue to own FIRST MOETGAGE BONDS to the
same smount 40 the Government bonds, and no
These Bonds are First Mortgage upon the
whole road and all its equipments. Such mort
gage upon what, .or q Ions time, will be the onlv
railroad connecting the Atlantic and Pacific
States, takes the highest rank q safe security.
The earnings from the way or local business for
the year ending June So 1858, on On average Of I2
which, after paying al expenses, were much more
than sufficient 70 cover oil interest liability upon
that distance, and the earnings OF the last i've
months have been o3,336 so. They would have
been greater II the rosd had not been taxed to It's
utmost capacity to tran6poIt its own materials for
construction. The income from the great passenger
travel the China freishts, and the supplies for the
new Rocky Mountain States and Territories must
be ample for all interest and other liabilities.
No political action can reduce the rate OF interest
4 mn IN fopt rRu
annum in gold. now equal to between eight and
nine per cent. in currency. The yyistipnI IS tkss
payable in gold. II . bond with such guarantees
were issued by the Government, its market price
would not be less than from 70 to Is per cent pre-
MUM. ~ these bonds are issued under Govern.
ment authority and supervision, upon what il
very largely Government work, they must uld-
mstsly approach Governmsnt prices. No other
corporate bonds are made % secure.
1.-THE price for the present 10 PAB, aud accrued
interest 1t per cent from July 1858, In currency
Subscriptions will be
RECEIVED II WASHINGTON, By
First National Bank.
Rittenheuse, Fowler 4 Co.
and in New York
At the Cempany's Office, No. 30 Nassau
street,
John J. Cisco 4 Son. Bankers, No. SO
Wall Street,
And BY the Company advertised agents through.
out the United States.
Beads seat free, but parties ssbscribins through
local agents triil Took to them for tkeir safe de-
ltcery.
a NIW PAMPHLET AHD MAP WAS Is
SUED OCTOBER 1sr, containing report OF the
progress Of the work 70 that date, and more COM
Dlste statement In relation 70 the value OF the
bends than can BE- given in an advertisement,
which will b sent nee on application ct the Com
Danyb ones, or to any Of the advertised agents.
JOHN J. CISCO, Treasurer, New York.
December 18th, 1858. de2i. LIN
r. EhOvA Al:
WILLBf RED0RAVE,
g n B Il a L Il b s.
4 Rave removed to the CORNER Of
INV YORK AvRHCR AND oIyTH eTRIE
One eGuars from Northern Ii bsrU Market.