The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1869-01-20
Grand Line to the Pacific
Will be open for Business in the Summer
- of 1860.

WIFI De UDcn Tor hUhbuesS III the
- of 1869.
The regular Government Commissioners have pro-
nounced the Union Pacific Railroad TO be FIRST
CLASS In every respect and the Special Commission
appointed by the President says'-
Taken as o whole, TB Il UNION PACIFIC RAIL
ROAD HAS BEEN WELL CONSTRUCTED, AND
THE GENERAL ROUTE Fur THE LINE EX-
CEEDINGLY WELL SELECTED The energy and
perseverance with whlcn the work has been urged
forward and the rspiCity with which 1t has been
executed without parallel In history ana In gran
deur and magnitude of undertaking II has
never been equRlied." The report concludes
by saying that 1.-The country has reason to con-
gratuate Itself that This great work OF national Inn
portance Ia so rapidly approaching compile ion under
such favorable auspices" The Company now have in
use 1877 locomotives and nearly 2OO cars of all de Grip
tons large additional equipment lS ordered to be
ready In the Spring The grading s nearly completed
aud distributed for 100 miles Ia advance OF the
western end of the track. Fully 40 miles OF Tor
new track are now delivered west of the Missouri
River, and 90 miles more route. The total ex
penditures for CONSTRUCTION purposes In advance Of
the completed portion of the rosd is not than
eight million dollars
Besides a donation from the Government OF 1850
acres OF land per mile the Company is itledio
subsidy In u s. Bonds on It's line completed and
accepted at the average rate of about $4,000 mile
according to the difficulties encountered, FOR which
the Government takes a second lien security. Thu
Company has already received S24.O7sOJO OF this
subsidy being in full the $40 miles that have been
examined by the United states Commissioners.
Government Aid-Security of the Bonds.
By It's charter, the Company Is permitted to Issue
its own FIRST NOR RrGAGE BONDS to the same
amount as the Government Bonds, and more
These Bonds FIRST Mortgage upon the whole
road and ell It's equipments. Such mortgage upon
what for q long time will be the only railroad
Meeting the Atlantic and Pacific States, takes tbs
highest rank safe security. The earnings from
the way or local business the year ending June 30
| 1868, on IN average of 472 miles, over FOUR
MILLION DOLLARS, which, after paying all ex.
penses were mus more than sufficient to cover al
Interest liability upon that distance. and the earn
They would have been greater If the road had not
been taxed to It's utmost capacity to transport Its own
material for construction. The Income from the
great passenger travel the China freghts, and the
supplies for the Rocky Mountain States and Ter
rtories must be ample for all interest and other liza
bilitIes. No political action reduce the rate o
interest. 1t must ain for thirty years sic pei
cont. per IN gold, now equal to between eigh
and nine per cent In currency. The principal Is tel
payable in gold. II bond with such guarantees wer
| issued by the Government, its market price wouIC
not less than from 20 to 25 per cent. premium Al
these bondsiare Issued under Government authorit,
| and supervision upon what Is very largely Gov
| ernment work, they must ultimately approach Gov
ernmenl prices.
| The price for the present Is PAR.
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