Evening star. [volume] (Washington, D.C.) 1854-1972, 1869-01-11

AZ the distance between the 0nlehed portion o
the Gnion and Central Pacific Railroads 10 nov
less than 400 miles, and both companies are push
ing forward the work with great energy, employ
ing over 80 Coz nes. there be doubt that the
whole
GRAND LINE TO THE PACIFIC
Will be open for Business i'm the Summer of
1863.
The regular Government Commissioners have
pronounced the Union Pacific Railroad TO be
Commission appointed by the President says:
Taken as a whole. THE UNION PACIFIC
RAILROAD HAS BEEN WELL CONSTRUCT
I'D, AND THE GENERAL ROUTE FOR THE
LINE EXCEEDINGLY WELL SELECTED.
The energy and perseverance with which the work
has been urged forward, and the rapidty with
which IL has been executed without parallel in
history, and in grandeur and magnitude Of under
taking il has never been equslied." The ReporI
concludes by saying that the country has req
son to congratulate itself that this great work
Of national Importance is so rapidly approach
ing completion unter such favorable auspices
he Company now have in use l31 locomotives and
nearly 20O0 cars of all descriptions. A large aidi
tional Equipment is ordered to be ready in the
Spring. The grading is nearly completed, and ties
distributed for l7 miles in advance of the western
end Of the track. Fully lsO miles of iron for the
new track are now delivered west Of the Missouri
kfver and 90 miles more are route. The total
expe ditures for struction purposes in advance
OF the completed portion Of the road Is not less than
eight million dolls.s.
Besides a donation from the Government of
l2s0 acres Of land per mile, the Com pany il en-
titled to a subsidy in u. .. Bonds on its line as
completed and excepted, at the average rate OF
about SO 600 per mile acco riding tothe difficulties
encountered, for which the Government takes q
second lien as security. The Comrany have al
ready re@7ived S?i U7S0oO of this subsidy being in
fnil on the $40 miles that have been examined by
the Culted states Commissioners
GOVERNMENT AID-sECURITY or THE
BONDS.
BY its chsrter. the Company is permitted to is
sue Is own FIRST MORTGAGE BONDS to the
same amount as the Government bonds. ant NJ
more. These Bonds are First Mortgage upon the
whole road and all its equi pments. Such q mort
gage upon whRt, for ionG time. will be the only
railroad connecting the Atlantic and Pacific
States, takes the highest snk a safe security
The earnings from the way or local busipess for
the year ending June 30, 1853, average Of az
miles. were over FOUR MILLION DOLLARS
which, after paying all expenses, were much more
than sufficient to cover all interest liability upon
that distance, and the earnings Of the last five
months have seen S2335.S0. They would have
been greater II the road had not been taxed to
utmost capacity to transport its materials for
construction. heincOme from the great passenger
travel the China freiRhts, and the ppss for the
new Rocky Mountain States and Territories must
be ample for all interest and ether liabilities
1t must remsin for thirty yesrs-sir PER cent per
oanEa an gold. now equal to between eight and
nire per cent. in currency. The principal rs thea
pdydJi. IN gold. IL a bond with such guarantees
were issued by the Government, its market price
would not be less than from - to Is per cont pre-
MUM. As these bonds issued under Govern
ment authority aud supervision, upon what is
very largely Government work, they must ulti
msteIy approach Government prices.
The price for the present is PAR.
Subscriptions will be
Received IN WASHINGTON, By
First National Bank.
RittenhOuse. Fowler a. Co.
and in New York
Al the Company's Office, No. 20 Nassau
Street,
John }. Cisco 4 Son, Bankers, No. 50
Wall Street,
And by the CompanyS advertised agents through
out the United States.
Bonds sent free, bat parties sNbScri5iHg thrOugh
local agents uiI look TO them for th.ir safe de-
iirery.
SUED OCTOBER IsT, containing q report of the
progress Of the work to that date, and more com
plete statement in relation to the value Of the
bonds than can be given in an advertisement
which will be sent free application at the Com
pany ofices, or to any Of the advertised agents
~ The Coupons of the First Mortgage Bends OF
the Union Pacific Railroad Com pany, due Janu-
airy lst, 1869, will be paid and after that date
IN GOLD COIN, free Of Government tax, at the
Company's of6ce, No. - Nassau street, New
York.
JOHN J. CISCO, Treasurer, New York.
December 18th. 1858. ae2l 6w