The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1869-01-14
Grand Line TO the Pacific
VIII be open for Business in the Summer
OF 1869.

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 Commits ion
appointed by the President says:-
L. Taken a whole, TB Il UNION PACIFIC RAIL
ROAD HAS BEEN WELL CONSTRUCTED, AND
THE GENERAL ROUTE FJR THE LINE EX-
CEEDINGLY WELL SELECTED. The energy and
perseverance with which the work has been urged
forward and the Tapicity with which 1t has been
executed without pRrael In history ana In gran
deur and magnitude OF undertaking II has
never been equaed." The report concludes
by saying that 1.-The country has reason to
graduate Itself that This great work OF national inn
portance so rapidly approaching compile ion under
such favorable auspices." The Company now have In
use lS7 locomotives and nearlv 1900 of all de Grip
TONS large additional equipment is ordered 10 be
rtadS in the Spring The grading is nearly completed
ad ties disrlbuted for l20 miles in advance of the
western end ofthe track. Fully 100 miles OF iron Tor
new track delivered west of the Missouri
hiver and 90 miles more are en- route. The total ex-
penditures for uctlon purposes In advance Of
the completed portion of the road is not
eight million dollars
Besides a donation from the Government OF 1880
acres OF land per mile, the Company is en- tiled
subsidy In U. S. Bonds on lis line as completed and
accepted at the average rate of about $4,000 per mile
according to the difficulties encountered, for which
The Government takeB second lien aS security.
Company has already received s2I O7s,OJO OF thi,
subsidy, being in u on the $40 miles that have been
examined by the United States Commissioners.
Government Aid-Security Of the Bonds.
By Its charter, the Company Is permitted to Issue
Its own FIRST NOR rGAGE BONDS to the same
amount as the Government Bonds, and more
These Bonds First Mortgage upon the whole
road and all It's equipments. Such mortgage upon
what for a long time, will be the only RAILROAD con.
meeting the Atlantic and Pacific States, takes the
highest rank as o safe security, The earnings from
the way or local business for ending June 3
1865 on n average of Az miles, we've FOUR
MILLION LOLLARS. which, after paying all
penses, were mul h more than sufficient To cover al
Interest liability upon that distance and the earn
ings the last five months have been 81 SS6.s7O.
They would have been greater II the road lad not
been taxed to It's utmost capacity 10 transport It's
material for construction. The income from the
great passenger travel the China freights and the
supplies for the Rocky Mountain States and Ter
ritories, must be ample for all Interest and other lia
biitss. No political action reduce the irate of
interest. 1t must ain for thirty years sic per
cent. per annum gold, now equal to between eight
and nine per cent in currency The principal is then
payable in gold. If bond with such guarantees
issued by the Government It's market price would
not be less from 20 to 25 per cent. premium.
these bondsIare Issued under Government authority
and supervision, upon what is very largely Gov.
ernment work. they mast ultimately approach Gov
erunent prices,
The price for the present IL PAR
Subscriptions will. be received III Philadelphia by