Delaware tribune. [volume] (Wilmington, Del.) 1867-1877, 1869-01-07


the work Is going on through the Winter. As the
distance between The finished portion Of the Union
and Central Pacific Railroads is now less than 400
miles, and both companies are pushing forward the
work with great energy employing over 30, 600 men,
there can be no doubt that the whole
Grand Line to the Pacific
VIII esopea for Business In the Summer Of 1850.
inc regaar Government Commissioners have pro.
nouneed the c~ion Pacific Railroad to be Frnsr CLASS
III every respect. spd the Special Commission an
pointed by the Preside,t saws.
"Taken as whole, Tirhuslos PAcrrto RAuno.n
HAS BEEN WELL CossrnuorED am rur Gvsv..,
ROUTE FOR TnE LINE ExoEEprsGLY wv, sv,y,r
The energy and perseverance with whu. ,hs Vol,
has been urged forward, and the rapidlty win which
1t has been executed without parallel In history
and in grandeur and magnitude Of undertaking II has
never been cqualledn The Repsrt states that anv
deficiencies that exist arc only those incident to all
new roads, and that could not have been avoided
without materially rctardng the progress of the
great work. Such deficiencies are supplied by all
railroad companies after the completion Of the line
when and wherever experience shows them to be
necessary. The report concludes by saying that 1.-THE
conntry has TO congratulate itself that this
great work of national Importance is 80 rapidly ap
preaching completion under such favorable auspices"
| The Company now have In use 1877 locomotives and
ne irly 1000 cars Of all descriptions large addi-
tionsl equipment is ordered to be ready in the Spring
The grading is nearly completed, and ties disirbu-
ted for 1870 miles in advance the western end of tho
track Full 100 miles of iron for new track are now
delivered west Of the Missouri River, and 90 miles
more eff route The total expenditure for con-
sirucon purposes in advance OF the completed por-
lion of the road is not less than eight million dollars
N -
oi land per mile, the Company is entitled to sub.
sidy in U. s. Bonds It's line as completed and ac.
ccpcd at the average rate Of about $4,000 per mile
according 10 the difficulties encountered, for which
the Govt. takes second lien security The Com
pany have already received s22 of this tubsi-
dv, Of which s,ssOooO was paid Dec. 9th, and co.
900 Dec. 14th.
Government Aid-sccurity OF the Bonds.
By It's charter, the Company is permitted to Issue
i'sown FIRST MORTGAGE BONDS to the same
mount ns the Government Bonds, and no more.
llesc Bonds arc a First Mortgage upon the whole
road and all it's equipments. Such mortgage upon
what for long time, will be the only railroad con.
meeting the Atlantic ard Pacific States takes The
highest rank us n sac rrruiy. Tho car. i.e-- nom
Nc way or local business for the year ending june
30 1s6s on average of iI2 miles, were over FOUR
MILLION DOLLARS, which. after paying all ex
pcnscs, were much more thln sufficient 10 cover all
interest ability upon that distance and the earning.
FIR the last 1--WE months have been $3.50 SO. They
would have been greater, II the road had not bceu
taxed TO its utmost capacity 10 transport It's own ma
n is for construction. Tee income from the giea
pl.senecr travel the CbiSa freph's md the supplies
ar he rev Rocky Noun ain States and Territories
ar b. ample for all interest and OTTER liabilities
No political action can reduce the rate # interest
mn- rem lin for thirty years->ix Par Cent Pc
Annum in Gold, now equal to between eight ant
nine per cent In currency. The principal is thel
payable in gol If a bond with such guarantee
were issued by the Govt its market price would no
hiss than from 20 10 25 per cent premium. A
The bonds are issued under Govt. authority aud ~
ltrv's on, upon what is very largely a Govt. woih
they must ultimately approach Govt prices. N
o her corporate bonds are made so secure.
The price or the present is PAR, and accrued ii
lcrcst Mt per cent from july /, 1865 in currency
utscrl tions will be received in Wilmington, by
ID FIRST NATIONAL BANK.
R-RoBINsoN 4 CO.,
JOHN MoLEAR q SON.
wooLsToN & c.
and In New York
Al TIA. c"nap~ny's Office, No. 70 Nassnu =
ASb ny
John J. Cisco a. Son, BANKERS, No. 8
Wall street
and by the Conpanys advertised agents throughO
the United States.
- Bonds sent free but parties subscribing throul
local ngcnts, will look to them for their deliver
ANEW PAMPHLET AND MAP WAS ISSUE
Oct. 1st, containing report Of the progress of Il
work to that date, and n more complete statement
relation to the value of the bonds than can be gv
in an advertisement, which will be sent free on .
plication at the Companys offices or to any of I
m advertised agents.
sB- The Coupons Of the First Mortgage Bonds
the Union Pacific Railroad Comp any, due Janua
list, 1869, will lie paid On and after that date Go
Com, flee of Govt. tax, at the Company's Office
~ Nassau s Oh Ser 6isGo. Treasurer, Now York
Dec 15th 1868.