Evening star. [volume] (Washington, D.C.) 1854-1972, 1869-01-07

and the work is going on threugL the Winter
As the distance between the finished portion o
the Ebion and Central Pacific Railroa oads 10 now
less than 400 miles, and both companies push
i2g forward the work with great energy, employ
ing over 00Oo ne. there he no doub bt that the
wholo
GRAND LINE TO THE PACIFIC
Will be open ier Business i'm the Summer of
1869.
The regular Government Commissioners have
pronounced the Union Pacific Railroad TO be
FIRsT CLASS in every respect, and the Spsc,ai
Commission appointed by the President says:
Taken as a whole. THE UNION PACIFIC
RAILROAD HAS BEEN WE'LL CONSTRUCT
Ed, AND THE GENERAL ROUTE FOB THE
LINE ENCEEDINGLY WELL sELEOTED
The energy and perseverance with which the work
has been urged forward, and the rapility with
which It has been executed are without parallel In
history, and in grandeur and magnitude Of under
taking IL has never been eIualled." The Report
concludes by saying that the country has rea
son to congratulate itself that this great work
of national importance is 50 rapidly approach
ing completion under such favorable auspices.
The Company now have in use l37 locomotives and
nearly 1000 cars of all descriptions. large adj
tionsl Equipment is ordered TO be ready in the
Spring. The grading is nearly pleted, and ties
distributed for l20 miles in sd Of the western
end OF the track, Fully 10 miles of iron for the
new track are now delivered west Of the Missouri
River, and 80 miles more ~ route The total
eIpe ditures for con ,trrction purposes advance
OF the compile ted portion Of the road is than
eight million dollars
Besides a donation from the Government of
1913 0 acres of land per mile, the Company is en-
titled TO a subsidy in Z. q. Bonds on its line a.
completed and excepted, At the average rate of
about S29 OOo per mile, riding to the difficulties
encountered, for which the Government takes @
second lien as security. The Comrany have al
ready received S2i J7sOO0 OF this sulsiiy being in
fnll on the $40 miles that have been examined by
the Culted states Commissioners.
sOVlRNMENT AID.sEcURIrY or THE
BY its charter, the Company is permitted to is
sue Is own FIRST MORTGAGE BONDS to the
same smount as the Cover nment bonds. and no
more. Theee Bonds are Q First Mortgage upon the
whole road and all its uipments. Such a mort
gage upon what, for louG time, will be the only
railroad connecting the Atlantic and Pacific
states, taxes the highest rank as safe security,
The earnings from the way or local business for
the year ending June 30, 1865, on average of f72
miles. were over FOUR MILLION DOLLARS
which, after paying all ex penses, were much more
than sufficient to cover a interest liability upon
that distance, and the earnings of the last 6ve
months have keen 81. .336 s7O They would have
been greater If the road had not been taxed to its
utmost capacity to transport its materials for
construction. The income from the great passenger
travel the China freiGhts, and the supplies for the
new Bocsy Mountain States and Territories must
be ample for sll interest and other liabilities
Ne political action can reduce the rate OF interest
Ii must remain for thirty years-sir per cent, per
aHh"m ga gold, now equal to betwee eight and
nire per cent in currency. The principal is thsn
pdydb!t "a gold. If q bond with such puarantees
were issued by the Government, its market prfce
would not he less than from % to IS Der cent pre
MUM. As these bonds are issued under Govern.
ment authority and supervision, upon what IL
veIy largely q Government work, they must ulti-
mately approach Government prices.
The price for the present il PAR
Subscriptions will be
REcEIvED N WASHINGTON, By
First National Bank.
Ritenhouse, Fowler n Co.
and in New York
At the COmpany's Office, No. 10 Nassau
John j. cisco & Son, Bankers. No 30
Wall Street.
And by the Company advertised agents through
out the United States.
Bonds sfHt free. but parties SH5Sry,551g tsrovzb
local qg.RtS ,oiH look 10 thean for tAs,r sr f. y
HrSry.
NEW PAMPHLET AND MAP WAS Is-
SUED OCTOBER lsr, containing q report of the
progress OF the work to that date and more com.
pitte statement In relation to the value OF the
DoLos than can be given in advertisement
which Will be sent free on application at the Com
panys omcts, or to any of the advertised agents
W The Coupons OF the First Mortgage Bonds of
the Union Pacific Railroad Company, due jam
sry lst 1869, will be paid on and after that date
IN GoLo ColN, free of Government tax, at the
Companys offce, No. % Nassau street, New
York
JOHN }. CISCO, Treasurer. New yo,k.
Dooemper iotn' looo: de2l CIV