Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1869-01-22
Grand Line 10 the Pacific

VIII he open for Business In the summer Of 1907
The regular Government Commissioners have
pronounced the Union Pacific Railroad to be FIRST
CLASS in every respect and the special Comills-
sion appointed by the President says
Taken as a whole, THE UNION PACIFIC RAIL
ROAD HAS BEEN WELL CONSTRUCTED, AND
THE GENERAL ROUTE FOR THE LINE tx
CEEDINGLY WELL SELECTED. The energy and
perseverance, with which the work has been urged
forward. and the rapidity with which it has been
executed are without parallel in history, and in
grandeur and magnitude Of undertaking il has
never been equalled." The Report states that any
deficiencies that exist are only those incident TO all
new roads and that could no, hay5 been avoided
without materially Ietarding the progress Of the
great work ST Oh deficiencies are supplied BY all
railroad companies after the completion Of the line,
when and wherever experience shows them % be
necessary The report concludes by saying that
the country has reason to congratulate itself that
this great worK Of national importance is so rapidly
approaching completion under such 3yorable auspi-
ces" The Company now have in use 10 locomo-
tiyes and nearly 200 ears Of all descriptions
large additoa al equipment is ordered 70 be ready
in the Spring The grazing is nearly completed
and ties distributed for To miles in advance Of the
western end Of the track. Fully i2o miles Of iron
for new track are now delivered west Ofthe Mi--
souri, River, and 90 miles more are IN route. The
total expenditures for construction purposes in ad-
vance Of the completed portion Of the road Is Rot
less than eight million dollars
Besides donation from the Gov g 1900 acres Of
land per mile the Company is entitled 70 a sub
sidv in I. 5. Bonds on its line as completed and ac-
cepted az the average rate o. about 500" pei mile
according to the difficulties encountered. for which
t.trs % f7l4r
Company have already received s22l5,,oo Of tlis
subsidy, Of which 2s o11 vas paid Dec. 9th, and
$4,000 Dec 10th.
Government Aid--Security of the Bonds
By IL charter, the Company g permitted 70 issue
its own FIRST MORTGAGE BONDS to the same
amount a. the Government Bonds, and no more.
These Boads are First Mortgage upon the whole
road and al its equipments. such mortgage up
on what TO- n long time, viii be the only TalToal
connecting the Atlantic aid Pacific State taxes the
highest rank safe security. The earnings from
the way or local business for the year ending June
3D. 's6-, on an average q A. miles, were over
FOUR MILLION DOLLARS, which after paying al
expenses, were much more than sufficient % cover
all interest liability upon that distance cnd the
earnings for the las- five months have been 1885,
e70. They woula have been greater. If tHcr.ad hao
not been taxed - -s utmost capacity O. transport
re- own material. for -r1c- on. The iuc1 nefroIl
the gres, passenger t-.ri, the China frs-l. stand
the suppue- f.r the new cay Mountain States and
Territories must be- ample f- al interest and other
liabilities. y political action can reduce tie rate
Of interest. It must remain for thirty vears-siN
PER CENT. PER ,SSUs rs GoLn. now equal 20 be
tween eight aud nine per cent. il currency TIE
PRINCIPAL o. rHES PAYABLE rs CORD. u bond
with sucL guarantees were issued by the Govern
nent, its market price Soul1 not be less than from
% u - per cent premium. As these bonus are b.
sued under q. vernmeut authority and -lpervi-al,
upon what IS very largely Government vors. they
must ul t.mateiy approach Government prices. =.
ether corporate bonds are made SO secure
The price for the present is PAR and sccrue- IL
tsrest al 81 per cent from JAY Isr i-5. IL curreu
cy. Subscriptions viii be received in Burlington
by
c. W. WOOD OUSE;
MERCHANTS NATIONAL HASs
And in New YorE, at the
Company's Office. No. ~ Nassau 81,
AND by
JOHN J. CISCO & son, Ba7Sers,
No. 80 Wall STREET.
And By the Company advertised gents t.rou-hou;
the United States.
Bora, ssHf t-,es 5Hf p1rf,,s s.s'--itlsJ ti-oagh
local agent, iI look 20 tssr for TIER sa aers-y.
new PAuPHLEr and MAP was issued Oct. Ist. con
tanning report % the progress % the work O. that
date, and more complete statement I'm relation %
the value q the bonds than be given In adver
tsemeut, which will be sent free on application At
the Company Offices. or 10 any Of the advertised