Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1869-01-27

WIZ Ut open luF business IN int summer OF
1869.
The regular Government Commissioners have pronoun.
ced the Union Pacific Railroad to bs FIRST CLASS in
every respect and the Special Commission appointed BY
the President says.
"Takou whole, THE UNION PACIFIC RAIL
ROAD HAS BEEN WELL CONSTRUCTED. AND THE
GENERAL ROUTE FOR THE LINE EXCEEDINGLY
WELL SELECTED. Tho energy aud perseverance, with
which the work has been urged forward the rapidy
with which it has been executed without parallel In
history, and In grandeur and magnitude OF undertaking
It has never been oqualed" The Report states that any
deficiencies that exist only those incident all new
roads, and that could not have been welded without
teraly rctardng the progress Of the great work Such
dedcienecs supplied b. al railroad pnncs after
the completion u the line WHOM and wherever expert
shows them to be necessary The report concludes
by saying that the country has 10 congratulate
Itself that tbs great work Of national importance Is
rapidly approaching completion under such favorable
| auspices" Tho Company now have In 37 locomo-
tiyes and nearly 20po Of all descriptions large
additional equipment ordered to be read IN the Spring
Tho grading Is nearly completed and ties distributed for
40 miles in advance Of the western end Of the track
Fuly 20 miles of iron for track are now delivered
west Of the Missouri River and ~ miles
The total expenditures for construction purposes in adj
Of the completed portion Of the road is less
than eight million dollars.
Besides donation from the Gov OF $40 acres OF land
per mile the Company Is entitled TO subsidy in L. :.
Bonds on It's line completed and accepted at the
age rate OF about SgoDJ per mile according TO the d-
cultes encountered for which the Government takes
second lien security. The Company have already
ceivcd az 5000 Of this subsidy Of which $4,000
paid Dec. 9th, and seiooOo Dec 18th.
Government Aid--Security of the Bonds.
BY it, charter the Company is permitted to issue ts
/ u ~ kfgts 49,
the Government Bonds and These Bonds II
First Mortgage upon the whole road and all It's equip
mouts. Such mortgage upon what, for long time
will be the only railroad connecting the Atlantic and
Pacific States takes the highest rank safe security
The earnings from the way local business for the year
ending June 30, 1868, average Of ~ miles,
over FOUR MILLION DOLLARS which, after paying
all expenses much than sufficient to all
interest liability upon that distance and the earnings
for the last Ave months have been s23s6s7u. They
would have been greater II the road had not been taxed
to It's utmost capacity to transport It's materials for
construction The income nom the great passenger
Ell, the China freght, and the supplies for the new
Rocky Mountain States and Territories must be ample
for all Interest and other liabilities No political nc
on reduce the rate Of interest 1t must remain for
thirty yearssir per per gold, equal to
between eight and nino per cent. in currency. The
principal Is then payable in gold. If bond with such
guarantees issued by the Government its marke
price would not DO less than from 20 TO per pre-
MUM As these bonds issued under Government au
thorty and supervision, upon what is very largely
Government work. they must ultimately approach Gov
eminent prices No other corporate bonds made
secure.
The price for the presents PAR and accrued interest
6 per cent, from July LIST, 1868, in currency.
Subscriptions will be received in MONTPELIER by
MONTPELIER NATIONAL BANK,
and In New York
At the comPd"y's Office, No. % Nassau street,
JOHN J. Cisco Son, Bankers, No. 90 val Street.
And by tho Companys advertised agents
throughout the United States.
Bods sent free parties subscribing through local agents
uiH look 10 hen, for their sqfs deiirery
A NEW PAMPHLET AND MAP WAS ISSUED OCT
lst, containing report Of the progress Of the work
that date, and complete statement in relation l.
the value Of tho bonds than be given In advertise
ment which will he sent free application at the Com
pany's offices or to any Of the advertised agents
~ The Coupons OF the First Mortgage Bonds Of the
Union Pacific Railroad Company, duo January ls 1869
will DO paid and after that date IN dom cox, fire.
of Government tax, at the Companys Office No ~ Mas
sau street. New York.
JOHN J. CISCO, Treasurer, New York,
Dec. 18TH 1868. 45-dA'