Evening star. [volume] (Washington, D.C.) 1854-1972, 1869-01-09
THE UNION PACIFIC RAILROAD COMPANY
OFFER LIMITID AMOUNT OF THEIR
FIRST MORTGAGE BONDS
AT PAR.
NINE HUNDRED AND SIXTY MILES

NINE HUNDRED AND SIXTY MILES
OF line Wcst from Omaha are now completed,
and the work fs going threugL the Winter.
As the distance between the finished portion O
the Enion 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 50 QUO men, there be no doubt that the
whole
GRAND LINE TO THE PACIFIC
Will be open for Business I'm the Summer Of
1869.
The regular Government Commissioner ha We
pronounced the Union Pacific Railroad to be
FIRsT GLASS in every respect, and the Special
Commission appointed BY the President says:
Taken as Q whole. THE UNION PACIFIC
RAILROAD HAS BEEN WELL CONSTRUCT.
Ed, AND ThE GINERAL ROUTE FOB THE
LINE EXCEEDINGLY WELL SELECTED.
The energy and perseverance with which the work
has been urged forward, and the raeidity with
which Il has been executed are without parallel In
history, and in grandeur and magnitude OF under
taking il has never been equslied." The Rspor,
concludes by saying thst''the country has res
son to congratulate itself that this great work
Of national importance 10 so rapidly approach.
ing completion under such favorable auspices ,
The Company now have in use l37 locomotives and
nearly 600 cars Of ell desert ptions. large addi
tionsl Equipment 10 ordered to be ready in the
Spring. The grading is nearly com pleted and ties
distributed for l3D miles in adv ance of the western
end Of the track, Fully lsO miles Of iron for the
new track are now delivered west of the Missouri
Rfver, and 90 miles more are en- route. The total
exper dftures for struction purposes in advance
Of the completed portion of the road Is less than
eight million dollars.
Besides a donation from the Government of
l2.s0 acres of land per mile, the Company is en-
titled to . subsidy in o. 8. Bonds on its line As
completed and excepted, as the average rate OF
about % 900 per mile, riding to the dicuItee
encountered, for which the Government takes
second lien - security. The Company have al
ready received S24 G75000 of this subsidy being in
full on the $40 miles that have been examined by
the Uuited states Commissioners.
CONVENIENT AID-sECURITY or THE
By its charter, the Company 10 permitted to is
sue to own FIRST MORTGAGE BONDS to the
same amount as the Govern nment bonds, and 40
more. These Bonds are First Mortgage upon the
whole road and all Its eQuipments. Such Q mort
gage upon what, for long time, will be the only
railroad connecting the Atlantic and Pacific
States, takes the highest rank - Q safe security
The earnings from the way or local business for
the year ending June 50, 1885, on an average Of E2
miles, were ever FOUR MILLIOH DOLLARS
which, after paying all expenses, were much NOR.
than suncient TO cover oil interest liability upop
that distance, and the earnings Of the last fve
months have been 93,35s $40. They would have
been greater II the road had not been taxed to It's
utmost capacity TO transport its materials for
construction. The income from the great passenger
travel, the China freishts, and the supplies for the
new Rocky Mountain States and Territories must
be ample for all interest and other liabilities
Ne political action reduce the rate OF interest
1t must remsin for thirty years-six per cent. Pc,
daHEM in gold, now equal to between eight and
nine per cent. in currency. The prisripal is thea
payable IN gold. II Q bond with such guarantee.
we're issued by the Government, its market price
would not be less than from 20 to Is per cont pre
MUM. As these bonds are issued under Govern.
ment authority and supervision, upon what 4.
very largely . Government work, they must ulti.
Dstely approach Government prices.
The price for the present is PAR.
Subscriptions will be
RECEIVED IN WASHINGTON, BIZ
First National Bank.
Rittenhouse, Fowler n Co.
and in New York
At the COmpany's Office, No. 30 Nassau
Street,
John }. Cisco 4 Son, Bankers, No. SO
Wall Street,
And by the Companys advertised agents through
out the United States.
Bonds smt free, but parties subscribing throxs6
local agents soiH LOOK to them Jfcr heir safe de.
lirsry.
A NEW PAMPHLET AND NAP WAS IA
SUED OOTOBER lsT, 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 IN advertisemsnt
which will be sent free on application at the Oom
panys ofnces, or to any Of the advertised agents.
~ The Coupons Of the First Mortgage Bends of
the Union Pacific Railrosd Company, due Janu-
sry lst, 1869, win be paid on and after that date
IN GOLD Corn, free Of 0overnnsnt tax, at the
Oompsnyh once, No. % Nassaa street. Rev
York.
JOHN J. CISCO, Treasurer, New York.
December 18th, 1858. de2l 6W