Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1869-01-20
Grnnd Line 10 the pacife
win he open for Business. in the Summer Of
1860

The regular Government Comm. sloners have pronoun-
cod the Union Pacific Railroad to be FIRST CLASS IN
eycty respect and he Special Commission appointed by
the President says.
"rateu as a whole. THE UNION PACIFIC RAIL
ROAD HAS BEEN WE'LL CONSTRUCTED. AND THE
GENERAL ROUTE FOR THE LINE EXCEEDINGLY
WE'LL SELECTED The energy and perseverance with
which tc work has hccn urged forward aud the rapidly
with which 70 has been executed without parallel 10
history, aud n grandeur and magnitude Of undertaking
ii has never been oquacd" Tho Report that any
deficiencies that cx. only those Incident 20 al
rouds and that could mot have lccn avoided without ma
tedaiy rptaullug ne progress OF the great work Such
deficiencies supplied hy Oh railroad companies aftor
tho completion of tic line when and wherever expert
shows them 30 be- necessary The report concludes
Dog saying that tc country has reason % congratulate
licif that THIS great work OF national importance 7 o
rapidly approaehine completion under such favorable
auspices" The Company now have in us' iT locomo-
tiyes and neatly 2na1 oi all descriptions. lar9o
additional pncnt ordered to be ready Ia tho Spring.
The grading nearly completed and Go. distributor for
i11 miles la advance OF thc western end of the track
Fully l21mics orron Tor now track now delivered
wcst ofthe Missouri River and o0mcs more route.
The total expenditures for constructs ON purposes n adj
yau.c Of he completed portion Of hc ioad h NOE losa
chan eight million dollar-.
Besides donation FROM the Gov NJ 200 acres Of land
I
bonds on M line as completed and accepted at the aver
age rate ofanou sooo per mile according to the dim
ouuos encountered, for which the Government takes a
second lien a, security. The Company have already
ccirod S2l5s001 Of this subsidy, Of which 81 ESQ 00l
paid Dee oth and s6io,ooo Dec. 18th.
/ Government Aid-Security Of the Bonds
BY It's charter tho Company il permitted to issue IT,
own FIRST MORTGAGE BONDS to tho same amount a'
the Government Bonds, and These Bonds
Fr-t Mortgage upon the whole road and all IT. equip
ment3 Such mortgage upon what for long tmi
will he the only railroad connecting the Atlantic and
Pacific States takes the highest rank safe security
The earnings from The way local business for the yeai
ending June go, lsd3 on an average OF is2 miles, wcr,
over Four MILLION DOLLARS, which, amor payina
all expenses were much than sufficient to ali
interest liability upon that distance, and the earning
for the last Eve months have been s2.S6,s $40. They
would have boon greater IL the road had not been taxes
to is utmost capacity to transport It's materials fol
coustructon The income from the great passenger tray
e. the China feighls, and the supplies for the new
Rocky Mountain States and Territories must be ampl,
for all interest and other liabilities, No political
on reduce tho rate oflntcrc.t It must remain fol
thirty year'ir per ceaf Perainsm in gpd equal I,
between eight and nine per cent Ia currency. Thu
principal IS then payable in gold II bond with sucl
guarantees were issued BY the Government It's marko
price would not he less than from 20 to % per pre-
MUM. As these bonds are Issued under Government au
thority and suporvlsion upon what Is very largely
Government work, they must ultimately approach Coy
eminent prices No other corporate bonds are made p
secure
The price for the pro.snts PAR and accrued Interest
9 per cent, from July lst, 1865, in currency.
subscriptions will be- received in MONTPELIER By
MoNTPEL1ER NATIONAL BANK,
and In New YORK
4 n ns Company Q4ise, No. go No''au srrsi,
ASn BY
John j. ci'oo s Son, Ba,lcr' No. 80 Bah Stssi,
And by the Company's advertised agents
throughout the United States
Boads sent ee bs aass,ssi6iag through iooa, agent
itH iook 70 them for nsir sgfs deiirsry.
A NEW PAMPHLET AND MAP WAS ISSUED OCT
list, containing report Of the progress Of the
that date, and complete statement in relation
the value Of tho bonds than 10 gvon In advort
mont which will no sent free application at the Con
pany Offices or to any Of the advertised agents.
n The Coupons of the First Mortgage Bonds Of th
Union Pacific Railroad Company, due January LIST, loo.
will be paid and after that date IN GoLD Con-, fe
ofGovemment tax, at the Company's Office, No. % Ma
sau street, Now York.
JOHN J. CISCO, Treasurer, New York
Drc. 18th, 1865 Ada