Litchfield enquirer., 1869-01-28


 Grand Line to the Facifc
 WILL BE OPEN FOR BUSINESS IN THE
 SUMMER OF 1869.
 The regular Government Commissioners have pronodnced the Union Pacific Railroad to be First Class in every respect and the Special Commission appointed by the President says:
 ''Taken as whole, the Union Pacific Rail road has been we'll constructed. and the gcner al route for the line exceedingly we'll 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 mag nitude of undertaking it has never been equal. led" The report states that any deficiencies that exist are only are only those incident to all new roads, and that could not have been avoided without materially retarding the pro- gress of the great work Such deficienc:e :es are supplied by all railroad companies after the completion of the line, when and wherever ex- perience shows them to be necessary. The re- port concludes by saying that "the country has reason 60 congratulate itself that this great work of national importance is so rapidly ap. proachirg completion under such favorable auspices" The Company now have in use 137 locomotives and nearly 2OOO cars of all de- scriptions. A large additional equipment is ordered to be ready in the spring. The gra- ding is noarly completed. and ties distributed for 120 miles in advance of the western end of the track Fully I20 miles of iron for new track are now delivered west of the Missouri River and 90 miles more are en route The to tai expenditure for construction purposes ill advance of the completed portion of the road is not less than s8, GOO ,0O0. ~.a#
 Besides a donation from the Govt. of l2,80O acres of land per mile, the Company is entitled tn a Subsidy in U. S. Bonds on its line $ com pleted and accepted, at the average rate of $29, ,O00 per mile, according to the difficulties encountered, for which the government takes already received $22, 158,000 of this subsidy, of which S1 ,280 900 was paid Dec 9th, and $64s. .0O0 Dec. l4th. s5'4 ~' 20
 Gove,mnsent Aid-S Security ofthe Bonds. By it's charter the Company is permitted to is sue it's own First Mortgage Bonds to the same amount as the Government Bonds and no more. These Bonds are First Mortgage upon the whole road and all it's equipments. Such 8 mortgage upon what, for a long time, will be the only road connecting the Atlantic and Pacific States, takes the highest rank as a safe security. The earnings from the way or local business for the year ending June 30, 1869, on an average of 472 miles, were over Four Mil. lions of Dollars. which, after paying expenses was much more than sufficient to cover all in teiest liability upon that distance. and the earnings for the last five months have been $2- 386. .870. They would have been greater, if the road had not been taxed to its utmost capacity to transport it's own materials for construction The income from the great pass nger travel the China freights, and the supplies for the new Rocky Mountain States and Territories must be ample tor all interest and other liabI- Nn rnd1n %La rate of interest. Ii must rumain for thirty years--six per cent per annum in gold, now equals.to between eight and nine per cent. in currency. The principal is then payable in gold. If bond with such guarantees were is- sued by the government. its market price would not be less than from 20 to % per cent premium. As these bonds are issued under Government authority and supervision upon what is very largely Government work. they must ultimately approach government prices No other corporate Bonds are made so secule. The price for tlle)present is par. and accrued interest at 6 per cent from Julyl, 1868, in Subscriptions will be received in tchfeld by in5aSS- .'G se ei.'at.'.- ''' .''@
 H. R. Corr, CASHIER. FIRST NATIONAL BANK, "3- ] and in New York, '
 Ar THE CoxpANY's OFFICE, No. 20 NASSAU ST. and by JOHN J. Cisco SoN, BANKERS, No. 59 WALL Sr And by the Oompany's advertised Agents '1 throughout the United States.
 }BOnds sent free, btparties subscribing through Co cal agents sc1 look to them for their safe deIirery l A new pamphlet and map was issued Oct lst containing report on the progress of the work to that date, and more complete state ment in relation to the value of the bonds than can be given in an advertisement which will be ssnt free on application at the Company offices or to any of the advertised agents. | The Coupons of the First Mortgage Bonds o the Union Pacific Railroad Company, due Jan 1st, 1869 will be paid on and after this date, in gold coin free of government tax, at the Companys office, No. 20 Nsssau St., New York. JOHNJ. CISCO. Treasurer, N. Y. Dec. 18th, 1868. l...... 37 3H