Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1869-01-15
Grand Line TO the Pacific

will be open for Business in the Summer OF 1893.
The reyular Government Commissioners have
pronounced the Union Pacific Railroad to he FIRST
CLASS in every respect, and the special Comnls-
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 EA-
CEEDINGLY WELL SELECTED The energy ana
perseverance with which the work has been urged
forward, and the rapidity with which 1t has oeeh
executed are without parallel in history, ana IN
grandeur and magnitude Of undertaking 1t has
never been equalled." The Report states Tat any
deficiencies that exist are only those incident TO all
new roads and that could not havS been avoided
with ut materially Ietarding the progress Oh 'he
,,reat work. 5, CHI deficiencies are supplied by al!
railroad companies after the comp ton OF the line
when and wherever experience shows them to be
necessary. The report concludes by saying that
the country has reason to congratulate itself that
this great worK OF national importance isso rapidly
approaching completion under such favorable auspi-
cesr The Company now have in use l3l locomo-
tives and nearly 1000 cars Of all descriptions.
larse additio al equipment is ordered to be ready
in the Spring The grading is nearly completed,
and lies distributed for 100 miles in advance OF the
western end of the track Fully 10 miles OF iron
for new track are now delivered west OF the Mis-
souri, River and 90 miles more are On route The
total expenditures for construction purposes IN ad-
vance of the completed portion Of the ROAD Is not
less than eight million dollars.
Besides A donation from the Gov. IF 1900 acres OF
land per mile the Company ia entitled to sub
sidy IN L. S. Bonds its line as completed ana ae-
ceped at the average rate Of about $1,000 pei mile
according to the difficulties encountered, for when
the Government takes second lien as security Inc
Company have already received s22'l5sO" oil tins
subsidy Of which 81 IS ZOO was paid Dec. 9TH and
100000 Dec. 10th.
Government Aid.-Security of the Bonds
Bv its charter. the Company Is permitted to issue
its own FIRST MORTGAGE BONDS TO the same
amount as the Government Bonds, and no more.
These Bonds are a First Mortgage upon the whole
road and all its equipments. Such a mortgage up
on what for a long time, will be the only railroad
connecting the Atlantic aud Pacific States taxes the
highest rank as a safe security. The earnings ron
the way or local business for the year ending June
3d. 1868, on an average Of az miles, were over
FOUR MILLION DOLLARS, which after pay ing all
expenses were much more than sufficient 10 cover
all interest liability upon that distance and the
earnings for the last five months have been $3.50
s7o. They would have been greater if the road had
its own materials for construction. The income from
the great passenger travel, the China iregh STAND
the supple. for the nav Rocky Mountain States and
Territories must be ample for al interest and other
liabilities. No political action reduce the rate
Of interest. 1t must remain for thirty years-sN
PER CENT. PER ASSUN Is GOLD, now equal to be-
tween eight and nine per cent. in currency. The
| PRINCIPAL Is THEN PAYABLE N GOLD If bond
with sucl. guarantees were issued by the Govern
/ reut its market price would not be less than from
/ % to 25 per cent premium. As these honos are is
sued under Government 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 in
teres at six per cent from July ls 1865, in curren
cv Subscriptions will be received In Burlington
c. W. WOOD oUSE;
MERCHANTS SAuoSAL BANk
and in New York, at the
Company's Office. No. 20 Nassau ST.,
AND BY
JOHN J. CISCO & son, Baaksrs,
No. 80 WALL STREET,
And by the Company advertised agents throughout
the United States.
Bonds seni free; bit parties tubscribfrg fsroEga
local agents iH look 70 them for ih'ir SAFE e'isry
Anew PAMPHLET and MAP was issued Oct. lst' con
tanning report Of the progress Of the work to that
date, and more complete statement in relation to
the value ofthe bonds than be given in an adver
tisement which will be sent free on application at
the Compsny's Offices, or to any Of the advertised
agents
EF-The Coupons ofthe First Mortgage Bonds o
the Union Pacific Railroad Company, due January
st. 1863. will he paid on and after that date, II
Co, D Corr free % Government tax. at tie Com
pany's flee. No % Nassau street. New RoTk.
JOHN J. CISCO, Treasurer,
Dec .. dGw, 1853 NJ" Yum