Litchfield enquirer., 1869-01-14

there can be no doubt that the whole
 Grand Line to the Foc;fc
 WILL BE OPEN FOR BUSINESS IN THE
 SUMMER OF 1869. The regular Government Commissioners nave pronodnced the Union Pacific Railroad to be First Class in every respect and the Special Commission appointed by the President says:
 "Taken as whole, the Union Pacific Rail- road has been we'll constructed, and the gener- al route for the line exceedingly we'll 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 mag nitude of undertaking it has never been equal led" The report states that any deficiencies that exist are only are only those incident to all new roads, and that could not have been avoided without materially retarding the pro- gress of the great work. Such deficiencies are supplied by all railroad companies after the completion of the line, when and wherever ex- perience shows them to be necessary. The re- port concludes by saying that "the country has reason to congratulate itself that this great work of national importance is so rapidly ap- proachirg completion under such favorable auspices The Company now have in use
 
 scriptions. large additional equipment is ordered to be ready in the spring. The gra- ding is noarly completed, and ties distributed for 120 miles in advance of the western end of the track Fully I20 miles of iron for new track are now delivered west of the Missouri isiver and 90 miles more are en route. The to tai expenditure for construction purposes in advance of the completed portion of the road is not less than $8, GOO 900. ...
 Besides donation from the Govt of 2,S0O acres of land per mile, the Company is entitled tn Subsidy in U. S. Bonds on its line com pletcd and accepted, at the average rate of $29, GOO per mile, according to the difficulties encountered, for which the government takes second loan as security. The Company have already received $22, 15S,0O0 of this subsidy, of which S1 ,28O.00 wae paid Dec. 9th, and $648. 900 Dec. 14th.
 Goue1nmentAid-Sec,trity ofthe Bonds. By its charter the Company is permitted to is. sue its own First Mortgage Bonds to the same amount as the Government Bonde, and no more. These Bonds are First Mortgage upon the whole road and all it's equipments Such | a mortgage upon what, for long time, will be the only road connecting the Atlantic and l Pacific States, takes the highest rank as safe security. The earnings from the way or local business for the year ending June 30, 1869, on 1 an average of 472 miles, were over Four Mils | lions of Dollars which, after paying expenses l was much more than sufficient to cover all in- teiest liability upon that distance, and the earnings for the last five months have been $2- 386.8 They would have been greater, ifthe road had not been taxed to it's utmost capacity to transport its own materials for construction The income from the great pass nger travel, the China freights, and the supplies for the new Rocky Mountain States and Territories must be ample tor all interest aud other liabiT- ities. No political action: can reduce the rate of interest. Ii must romain for thirty years-six per cent per annum in gold, now equalstO between eight and nine per cent. in currency. The principal is then payable in gold. If a bond with such guarantees were is- sued by the government, its market price would not be less than from 20 to 25 per cent. premium As these bonds are issued under Governmen mt authority and supervision upon what is very largely Government work, they must ultimately approach government prices. No other corporate Bonds are made so secure. The price for the present is par. and accrued interest at per cent from July 1, 1868, in currency.
 Subscriptions will be received in Litchfeld by "". N' E H. R. Corr, CASHIER. FIRST NATIONAL BANK, L11CHFIELD.
 .g .... and in New York, Ar THE CoMpANY's s OFFICE, No. 20 NASSAU ST.,
 ..sa. and by ,,.s. gi,t JOHN J. Cisco $ SoN, BANKERS, No. 69 WALL ST. And by the Companys advertised Agents
 throughout the United States.
 Bonds se',t free, butparties subscribing through lO- cat agents sci1 1ook to them for teir sas delivery
 new pamphlet and map was issued Oct 1st containing report on the progress ot the work to that date, and a more complete state ment in relation to the value of the bonds than can be given in an advertisement which will be sent free on application at the Company's offices or to any of the advertised agents.
 The Coupons of the First Mortgage Bonds of the Union Pacific Railroad Company, due Jan lst, 1869 will be paid on and after this date, in gold coin free of government tax, at the Company's office, No. 20 Nassau St., New York. JOHN J. CISCO. Treasurer, N. Y. Dec. 18th. 1868. S7 Sm