Year: 1868

It seems but few weeks since the announce ment was made, with commendaDie national prlde ln the fact, that five hundred miles of the Union Pacific Railroad has been completed and opened to business. Half thousand miles across the Plains i'll little moro than two years

 tune, was something to boast of, and it was natu- rally wondered if the Company which had accom- pllshed 80 much, could continue their work with equal Vigor, or whether their strength, purpose,

 difhculties yet in their way. This query is being

 80 1orclbiy answered by the continued achieve

 ments of the builders of the line that further skeptlcism Is unreasonable Although the winter can hardly pc said to be gone, the Company have alreauy built sixty miles of road in addition to what was Ill operation upon the first of January The summit of the Rocky Mountains, s,262 feet

 above tide water, has been crossed, and left fifty

 miles behind, and the advance of the army of la- borers are pushing their way through the canons and passes Of the Great Salt Lake Basin. By the end of the present year, not less than 500 miles will be Ill full operation, and in 1S70 (and it may

 be in 1869) the railroad will be complete from the

 Missouri to the Pacific. Nearly or quite ton thou sand laborers are engaged in the work of con- struction and there will be no cessation of the work until it is finally complete.

 Of the financial success of this Railroad there

 can be no doubt. It will be the only railway line connecting the Atlantic and Pacific States and Territories, aLd will be the only avenue of con- neCtion with the mining regions, whose annual yield of seventy-tiye millions in gold and silver will be doubled by the facilities for emigration and

 labor which this railroad will give It will give to the Government transportation of freights, mails and military supplies at rates amply remunera- tive to the Company and still far below what has

 been heretofore paid for such service. In addi-

 ton to ali of the local trade and that between the extremes of our country, this railroad will be a

 national highway for the traffic between foreign countries, which will find this their nearest inter- national route. But we need depend neither upon speculation nor prophecy to determine the ques- tiOn of the profit of this enterprise. The figures

 for the last year, show the net earnings upon that portion of the road then in operation, to have been more than one million of dollars.

 The Union Pacific Railroad Company is offering

 for sale it's first Mortgage Bonds as advertised in

 another column. These Bonds are for $l ,0OO each, bear per cent. gold interest, and principal, as we'll as interest, is payable in gold. These Bonds are by act of Congress made a First Mortgage up-

 on the entire line, their security. being thus put beyond question. The net earnings for 1867, as 1 instanoed above, were more than threo times the

 interest upon the Bonds which could be issued up-

 on the length of the road in operation These

 Bonds are now for sale at par and accrued interest 1 in currency. Further information concerning them, together with much that is of interest and

 value respecting the western country and the pro-

 gross of the Railroad, will be found in the paniph- let which has been issued by the Company, and

 which may be had of any of the advertised agents