The national Republican., 1869-01-09
GrbND LINE TO THEPAciFic
win pc open for Business In the snm-
mer OF 1869.


CLASS In every respect. and the Special Commits
sion appointed by the President says
"Taken AS q whole, THE UNION PACIFIC
RAILROAD HAS BEEN WE'LL CONSTRUCTED.
AND THE GENERAL ROUTE PoH THE LINE
EXCEEDINGLY WELL SELECTED. The energy
and perseverance, with which the work has been
urged forward. and the rapldlty with which 1t has
been executed are without parallel In history, and
In grandeur and magnitude Of undertaking It has
never been equAlled." " The report concludes by
saying that tho country has reason to conEratu-
late Itself that this great work Of national mpor-
tanee Is 40 rapidly approaching completion under
such favorable auspices " The Company now
have In use lS7 locomotives and nearly 1900 cars
OF all descriptions. large additional equipment
is ordered to be ready In the spring. The grading
isnearly completed, and tics distributed for 100 miles
iu.adyanee Of the western end Of the track. fully
I'D miles Of iron for new track now delivered
west ofthe Missouri river. and % miles more are
en- route The total expenditures for constructing
purposes In advance Of the completed portion Of the
DAD Is not less than eight million dollars.
Besides a donation from the Government OF
l2.sOO acres Of land per mile, the Company is en-
titled to subsidy In United States bonds on Its
line as completed and 5epted at tho average rate
Of about ~ OOO per mile. according to the dieul-
ties encountered. for which the Government takes
second lien as security. The Company have
already received t2I O7s 900 Of this b,idy, being
in full the go miles that have been examined by
the United States Commissioners.
Government Aid---Secnrily Of The Bonds.
By its charter the Company is permitted to issue
its own FIRST MORTGAGE BONDS to the same
amount as the Government Bonds, and no more.
These Bonds are First Mortgage upon the whole
road aud Allits equipments. Such a mortgage
upon what. for a long time, will be the only rail-
road connecting the Atlantic aud Pacific States,
takes tho highest rank as a safe security, The
aaF fFnm tla N local bualQpsA for the
year ending June 30. 1858. on an average OF Az
miles, were over FOUR MILLION DOLLARS,
which. after paying all expenses, were much more
than suieIentto cover all interest liability upon
that distance. and the earnings for the last i've
months have been o.. 3s5, SO. They would have
been greater, II the road had not been taxed to Its
utmost capacity to transport Its own materials for
| construction. The income from the great pAssen-
ger travel, the China fTelghts, and the supplies for
| the new Rocky Mountain States and Territories
must be ample for all Interest and other liabilities.
No political action reduce the rate Of interest
| II must remain for thirty yeaTS-sir per cent per
dHHum IL 90 a.. now equal 10 between eight and
nine per cent In currency. The prilcfp u Is then
| payable "a gold, II boud with such guAra ntees
| were issued by the Government, Its market price
would not be less than 20 to 25 per cent prenium.
| As these bonds are issued under Government au-
thority and supervision. upon what is very largely
| a Government work, they must ultimately 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 once, No. 20
| Nassau street,
AsDBI
John J. Cisco a. Son, Bankers,
No. 80 Wall street,
Aud by the Company = advertised agents through