Evening star. [volume] (Washington, D.C.) 1854-1972, 1868-12-21
the UNION PACIFIC RAILROAD COMPANY
oITER LIMITED AMOUNT OF THEIR
FIRST MORTGAGE BONDS
AT PAR.
MINI HUNDRED AND SIXTY MrLrs

Il N
Of the lise Wet from Omaha are now completed,
aud the work is going on threusL the winter
As the distance between the finished portion OF
the enion and Central Pacific Railroads ts nov
! % than 400 mites, and both companies are push
iss forward the work with great energy, employ
ing over so Coo mel, there can be doubt that the
whole
GRAND LISE TO THE PACIFIC
viii be open for Rnsiness in the Summer Of
1863.
The regular Government Commissioners have
pronounced the Union Pacific Railroad to be
fIRsT CLASS in every respect, snd the Special
Commission appointed by the President says:
"Tsken as q ~h,le. THE UNION PACIFIC
RAILRoAD has BEEN WE'LL CONSTRUCT
I'D, AND THE GBNERAL RoUrE FOB THE
LINE EXCEEDINGLY WELL SELECTED.
The energy and perseverance with which the work
has been urged forward, and the raptlity with
which IL he's been executed without parallel In
history, and N grandeur and magnitude OF under
taking il has never been equalled." The Report
states that deficiencies that exist only those
incident to all new roads and that couId not have
been avoided without materially retardfne the
progress of the great work Such deficiencies are
su pplied by all railroad companies after the CON-
petion OF the line, when and wherever tXpe.
rience shows them to be necessary. The report
concludes by saying that 1.-THE country has rea-
son to congratulate itself that this great work
Of national importance 10 so rapidly approach
ing completion under such favorable auseices ,
The Company now have in use ls7 locomotives aud
pesr 1000 cars Of ell descriptions. large addi.
tionsl eIu'pment is ordered to be ready in the
Spring. The grading is nearly com pleted, and ties
ois ributed for u miles in I'D spce of the western
end Of the track, Fully lso miles of iron for the
new track are now delivered west of the Missouri
River. and 90 miles more are IN ,out,. The total
e1pe ditures for con n,truction purposes in sivance
OF the completed portion Of the road is not ess than
eight millien dolaS.
Besides donation from the Government of
l2s scres Of land per mile, the Company is en-
titled TO subsidy I'm L. q. Bones on iis Ii ue A.
completed and excepted, At the average rate Of
about S2s 000 mile, ding tnthe alties
encountered, for which the Government takes q
second lien as security. The Comr any have al
ready received S22Iss Oooof this subsidy of which
81 80 ooo Was paid December eth and $500 OOp
December 18th
BONDS.
By its charter, the Company is permitted to is
sue to own FIRST MORTGAGE BONDS to the
same amount the GoveTnn bonds. aag "a,
NOR. The.e Bones are Q First Mortgage upon the
whole road and all its equi pine nts. such smert
gaze upon what. for a long time, will be the only
railroad connecting the Atlsatir aud Pacific
states, takes the hiehest rank as a cafe security
The earnings from the way er local busipess for
the year ending June 30, 1853 al average Of AZ
lies. ever FOBR MILLIoN DOLLARS
which, after paying all expenses, were much more
than sufficient TO cover all interest liability upon
that distance, ana the earnings of the last five
months have keen S23S-S7a. They would have
been greater il the rosd has been taxed to ft,
utmost capacity to trausp port its own materials for
construction The income from the great passenger
tray the China freiahts and the pIies for the
new Rocky Mountain States and Territories must
be ample for all interest and other liabilities
No political action reduce the rate OF interest
1t niust remsia for thirty years-siy per csn. pr
ans"rn an sotd, DOW equal to between eight snd
mir e Fer cent. IN currency tn, priHrlpIi IS fi.z
payGti' IN Soid III q bond with .uch guarantees
were issued by the Government, its market price
would not be less than from % to IS Der cent mr.
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 other
corporate bonds are made so secure.
The price for the present is p Ar, aud accrued
interest at per cent from July l. lss, in carrency
Subscriptions will be
RECEIVED IN WASHINGTON, BY
First National Bank.
Rittenhouse, Fowler q Co.
ard in New York
At the Company's Office. No. 20 Nassau
street,
John }. Cisco & Son. Bankers, No. 30
Wall Street.
And by the Company's advertised agents through
out the United STATES.
BoHds sHi fr,s, but parties sx5SrrfsiHg ti,ousE
i'crt ds,Hss ,ciH took them for ihsir SAFE de-
Iirey.
A NEW PAMPHLET AND MAP WAS Is
SUED OCTOBER lsT, containing q report Of the
progress Of the work to that date, aud more COM
plete Statement ia relation to the value Of the
bends than can be given in an advertisement.
which will be sent free apple alton at the Com.
psny Offices, to any of the sdverti.ed ageuts
JOHN }. CISCO, Treasurer. New York.
pecehber 18Th, 1888. de2Ilm