Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1869-01-06

viii be open for Bushes, in the Sumner Of
1869.

" AAA VIZ NNNW lNl Du1lntst IN the GUNNER nf
1862
Tho regular Government Commissioners have prououn-
cod the Union Pacific Railroad 70 be- FIRST GLASS In
every respect and the Special Commission appointed BY
the President nys
"Taken as whole, THE UNION PACIFIC RAIL
ROAD HAS BEEN WELL CONSTRUCTED AND THE
GENERAL ROUTE FOR THE LINE EXCEEDINGLY
WELL SELECTED. The energy and perseverance with
which The work has been urged forward and the rapdity
with which % has been executed without parallel 10
history, and In grandeur and magnitude Of undertaking
10 has never been equallodn The Report that any
deficiencies that exist only those incident to all
roads and that could have been avoided without
craly rctardng the progress Of the great work. Such
deficiencies supplied by all railroad onpanies after
the completion Of the line when and wherever expert
shows them 70 be necessary. The report concludes
BY saying that the country has con ratulats
cfthat this great work Of national importance ls
rapidly approaching completion under such favorsbls
auspices The Company have In III locomo-
tqcs and nearly 1900 Of all descriptions large
additional cquipmcuts ordered TO be ready 10 the Spring
The grading h nearly completed and ties distributed for
100 miles 10 advance Of the western end Of the track
Fully 100 miles Of iron for track delivered
west Of the Missouri River and 90miles rouie
The total expenditures for construction purposes Ia al
vance Of the completed portion Of the road is lea
than light million dollars.
Besides donation from the Gov OF 3 100 sores Of land
per mile, the Company Is entitled to subsidy in U. s.
Bonds on rs line completed and accepted, at the
ago rate Of about $4,000 per mile, according to the din
cultcs encountered, for which tho Government takes
second lien security The Company have already re
cevcd s22 of this subsidy Of which $4,000 was
paid Dec. 9th, and s6O,ooo Dec. 18th.
Government Aid--Security of the Bonds
By it, charter the Company is permitted to issue its
own FIRST MORTGAGE BONDS to tho same amount ss
tho Government Bonds, and no more These Bonds
First Mortgage upon the whole road and all It's equip
ments. such mortgage upon What, for . long time,
will be tho only railroad connecting tho Atlantic and
Pacific states takes the highest safe security
The earnings from the way local business for the ye
ending June 30, lH6s average OF az miles
over FOUR MILLION DOLLARS which, arer paying
all expenses much than sufficient TO oil
interest liability upon that distance and the earnings
for the last iyo months have been s23s6 $40. They
would have been greater II the road had ta1s
to IT, utmost capacity to transport It's materials for
construction The income nom the great passenger
/ el, the China ircighs, and the supplies for the
Rocky Mountain states and Territories must be ample
for an interest and other liabilities No political
ton reduce the rate Of interest II must remain for
thirty ycartr per cent per rnHar gold, now equal 70
between wight aud nine per cent. in currency. The
principal IL then payable Ia gold. II bond with such
guarantee were sued by the Government its market
price would not ho loss than from ~ to j per cent pre-
MUM, A these bonds are Issued under Government
horiN and supervision, upon what IL very largely
Government work, they must ultimately approach Gov
eminent prices No other corporate bonds made
secure.
The price for the present PAR and accrued interest
9 per cent, FROM July let, 1905 in currency.
Subscriptions will be received In MoSrrgLIRN b,
MONTPELIER NATIONAL BANK.
and in New York
Al "a, Comp-nV'. Ofes No. 70 Sasss. Nrssf