Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1869-01-13

win be open FOR Business in thc summer ut
1869.

win be open for Business in The summer ut
1869.
Tho regular Government Commissioner. have pronoua
ced the Union Pacac Railroad TO be FIRST GLASS in
every respect aud thc Special C0mmssion appointshy
the President nys.
"Taken a. o whole THE UNION PACIFIC RAIL.
ROAD MAS BEEN WELL CONSTRUCTED AND TnE
GENERAL ROUTE FOR THE LINE ENCEFnfNGA
WE'LL SELECTED. The energy and perseverance uin.
which the work has been urged forward aud the rapdty
with which t has been executed are without parallel %,
history, and boz grandeur and gnitude Of undertaking
has been cquiiled" Tho Report staes that any
dcdccnsie that exist only those incident to all nov
roads and that could have been avoided without ma
erally rcadiug the progress Of the great work Such
dchccncic. are supplied by all railroad companies after
the completion of the line when and wherever expert
encc shows them 10 hc nccossary The report conclude
by saying that the country has to congratulate
tseftha this gruat work OF national Importance i 20
rapidly approaching csmpetion under sush favorable
ausplces.n The Company now have IN use 90 iocouo
tivcs and nearly loo0 oi all descriptions large
additional equipments ordered to he ready IN the Spring
The grading nearly completed and tes distributed Zoe
10 miles in advance OF the western end Of the track
Fully i20 miles Of iron for track delivered
west Of the Missouri River, and 90 miles more route
The total expenditure for construction purpoe- in a
vance Of the completed portion Of the road not lee
than eight million dollars.
Resides donation from the Gov. Of acres Il land
per mile, the Company il entitled to A subsidy In L. s.
Bonds IL line completed and accepted at the aver
age rntc Of about sq0n per mile According TO ihc din
cultics encountered, for which the Government akes
second lien NJ security. The Company have already r.
ceved s22jsCoo of this subsidy, Of which 2z0 40 wa
paid Dec 6th and ;6i),oOo Dec. llfh.
Government Aid--Security of the Bonds
ny It's charter the Company j. permitted to issue 10.
own FIRST MORTGAGE BONDS to the same amount -.
the Government Bonds md more These Bonds ars a
First Mortgage upon the whole road and all MA equip
ments. such a mortgage upon what, for l0ng tia.
will be the only railroad connecting. the Atlnnte ani
Pacific States takes the highest rank safe security
The earnings om the WAY or local business or the year
ending June 20, 1863, Of ~ miles
over FOUR MILLION DOLLARS, which, after paying
all expenses, much than sufficient cover all
interest liability upon that distance and the earning.
for the last ave months have been s2gsf,siu. They
would have been greater fthc road had not been taxed
to lt utmost capacity to transport ia materials Tor
construction The income rom the great passenger
ell the China lrcghts and the supplies for the new
Rocky Mountain State and Territories must be ample
for all interest and other liabilities No political &C
tion can reduce the rate Of interest II rcman flr
thirty ycarssirp per cent per goif now equal To-
between eight and nine per cent. In currency. The
principal sthen pay able In gold Ii bond With such
guarantees were issued by the Government il. market
price would not be less than from 20 to y per pre-
MUM A. these bonds are Issued under Government an.
thority and supervision, upon what Il very largely
Government work they must ultimately approach Goy.
eminent prices. No other corporate bonds made 80
secure
The price of the present Is PAR and interest At
per cent, from July lst, 1868, in currency
Subscriptions will he received in MoSrrrLmn hy
MONTPELIER NATIONAL BANK
and In New York