Evening star. [volume] (Washington, D.C.) 1854-1972, 1869-01-04
THE UNION PACIFIC RAILROAD COMPANY
OFFER LIMITIp AMOUNT OF THEIR
FIRST MORTGAGE BONDS
AT PAR.
NINE HUNDRED AND SIXTY MILES


or the lire West from Omaha now completed,
and the work is going on thrsugh the Winter.
AS the distance between the finished portion o
the Enion and Contra; Pacific Railroads 10 now
less than 400 nles, and both comp anies are push
ips forward the work with great energy, employ
ing over 80 CO.. ner, there can be doubt that the
whole
GRAND LINE TO THE PACIFIC
Will be open Tor Business i'm the Summer of
1863.
The regular Government Commissioners have
pronounced the Union Pacific Railroad TO be
FIRsTCLASS in every respect, and the Special
Commission appointed by the President says:
'.Tsken as q whole. THE UNION PACIFIC
RAILROAD HAS BEEN WELL CONSTRUCT
I'D, AND THE GENERAL ROUTE FOB THE
LINE EXCEspINGLY WELL SELECTED.
The energy and perseverance with which the work
rhss been urged forward, and the rapidity with
(which II has been executed without parallel In
history, and in grandeur and magnitude OF under
taking IL has never been equalled.n The Repori
concludes by saying that 1.-THE c.untry has rea
sen to congratulate itself that this great work
OF national Importance is so rapidly approach
ing completion under such faveraple auspices
The Company now have in use lS7 locomotives and
Desry 1900 cars of all descrip ptions. large sddi
tionsl Iuipnent is ordered to be ready in the
spring. The grading is nearly completed, and ties
distributed for l2j miles in advance of the western
erd OF the track, Fully l20 miles of iron for the
new track are now delivered west Of the Missouri
River, and 90 miles more arc sn route. The total
expe ditures for struction pur in advance
of the completed portion Of the road not less than
eight million dollars
Besides a donation from the Government of
l2.S o acres Of land per mile, the Company is en-
titled to subsidy in Z. 3. Bonds its line as
completed and excepted, at the average rate of
about S9 600 per mile ding to the difc culties
encountered, for which the Government takes Q
second lien as security. The Company have al
ready received S7iO1S0oO of this subsidy, being in
tuli on the $40 miles that have been examined hy
the UuIted states Commissioners.
CONVENIENT AID-sECURITY OF THE
BONDS.
BY its Charter. the Company is permitted to is
sue u own flhsr MORTGAGE BONDS to the
same amount as the Goyernnant boads and no
more. These Bonds are q First Mort-~.a unon ,ha
whole road and all its uipments. Such a NOR.
gage apon what, for a long time, will be the only
railroad connecting the Atlantic and Pacific
States, takes the highest rank as a safe security.
The earnings from the way or local business for
the year ending June 80 1853, on average of s72
miles. were ever FOUR MILLION DOLLARS.
which. after paying ail expenses, were much more
than sufficient to cover all interest liability upon
that distance, and the earnings of the last five
months have been S2,336S $40. They would have
been greater If the road had not been taxed TO its
utmost capacity TO transport its materials for
construction. Tie income from tine great passenger
traIel, the China fret and the supplies for the
be ample for all interest and other liabilities
No political action can reduce the rate OF interest
III must remain for thirty yesrs-SiL per cent. per
GHHHm IA gold, now equal to between eight and
niDe Per cent. in currency. The pTinciplI is then
payable iR g0ld. If bond with such guarantee
were issued by the Government, its market prfce
would nos be less than from 20 to Is Der cent pre-
MUM. As these bonds are issued under Govern.
ment authority and supervision, upon what is
very largely q Government work, they must uIti-
matfly 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
At the Company's Office, No. 90 Nassau
John J. Cisco L. Son. Bankers, No. SO
Wall Street,
And by the Compsny's advertised agents through.
out the United States.
Bonds seHt free, but parties sEtScTt5iag tbroHgh
local agents CiH look TO them for their SAFE de-
lireTy.
A NEW PAMPHLET AND NAP WAS Is
SUED OCTOBER 1sT, containing report of the
progress Of the work to that date and q more com.
pltte statement in relation to the value of the
bends than can be given in an Advertisement
which will be sent free on application ac the Com
psny 9 omces, or to any of the advertised agents
~ The Coupons of the First Mortgage Bends of
tne Union Pacific Railroad Company, due Janu-
ary lst, 1862 will be paid and after that date
IN GOLD ColN, free of Government tax, at the
Company's office, No. y Nassau street, New
York
JOHN }. CISCO, Treasurer, New York,
december 18th, 1868. ee2l 6w