AMIJRIG

 

‘AN RAILROAD .IOU" NAL.

STEAM NAVIGATION, COMMERCE, FINANCE,
ENGINEERING, BANKING, MINING. _,MANUFACTURES.

ESTABLISHED IN 1831.

PUBLISiIE'D” vmtKLr"“tr‘I"G:airs‘“iir:““sci::ttrz, Xi n5‘:“o“s1»snts“‘isT., N‘E’w‘I3?o'1tI€,“Kiri"i‘IIvi§”‘I)oiiihfitéimi-713311. Assert.‘

Sscosn Qnsnu.-o“ Snares, Von. XX‘IV., No. 52.]

SATURDAY, niicnItII3iIIt"'é'ti,’ 1868.

[WHOLE No. 1,706, Von. XLI.

ll-'3" Mu. ll‘ltlGl.)lt‘ltlUl{ ALGAR, No. 11 Olcments
Lorin, Ll)ll1I)f1l‘fl rltrcut, Lonnorv, 1t‘.nglnnd,is the authorized
European Agmit for the Jouusltn.

PR.1N(}I[’AL ¢‘0N'mcN'rs.
Union Pacific Itrtilroad . . . . . . ..   .. .1281
New York Central Railroad .   .. .1281
Railroad from Cobleskill to Cherry Vallcy.. .1281
Emigration to the South   .. . .128
Railroad Connections South of Kalamazoo. .1282
East Tennessee and Georgia Railroad . . .. . . .1282
Report of the Postrnaster General .... . . .. .. 1288
Railroad Earnings..."    ....v...1287
Interest and Dividend Tables.   1286, 1280
Railroad Bond List... ...........'l294
Stock Exchange and Money Market....  1301
Rockford, Rock island and St. Louis E. It. ..1808
Imports Of Dry Goods . .. .... .... .... ....1804
Mississippi River Railroad   . . . . . . .. 130/1
(iincinnati and Newport Bridge . . . . . . . . . . .. 1304
Pittsburg and (‘.onm~llsvillo ltuilroud.. .1286, 1805

I;

noun :-

none none I

Xinerleun Raillroad} Journal.

New York Saturday, December 28. 1808.

The Union Pacific Railroad.

It will be seen by the new advertisement of the
Company in another column, that 960 miles of the
Union Pacific Railroad have been completed and
put into active operation. For 120 miles more the
track is graded, and the iron on the ground ready
for laying. More than four hundred miles have
been built in the season of 1868, and with less
than 400 miles now intervening between. the rails
of the Union Pacific and the Central Pacific Com-
panies, every indication guarantees the opening of
the entire line to the Pacific in the early summer
of 1869. The earnings for the year endingdune
30, were more than four million dollars, on an
average of 472 miles in operation; and the
earnings for the last give months. were $2,386,870.
These amounts are sd,larg,ely in excess of the lia-
bilities of the Company on account of interest up-
on its own First Mortgage Bonds andthe Govern-
ment bonds loaned to it. as a subsidy, as to allow
of no doubt that all such liabilities will be prompt-
ly met when due. The road is well equipped, and
large orders have been given for such an increase
of rolling stock as will be pecessary when to the
local trade is added the im‘ nense through trafiic.
which must follow the opening of the entire line.

Each section of twenty miles has been critically
examined. by the regular Government inspectors
appointed for the purpose, and réported to the
President as possessing all the clxaracteristics of a
first-class road. A special commission, appointed
by the President in September last, made thorough
re-examination of 890 miles, and summed up their
conclusions by saying: -

“ Taken as a whole, the Union Pacific Railroad
has been well constructed. The general route for
the line has been well selected, crossing the Rocky
Mountains at some of the most favorable passes
on the continent. The energzy and perscvm'ance
with which the work has been urged forward,and
the rapidity with which it has been executed, are
without parallel in history. The country has rea-

son to congratulate itself that this great work of
national importance is so rapidly n.ppron.clIingz
completion, untlor such favorable auspices.”

The evidence of many other able and critical
examiners of the road coincides with this testi-
mony to the faithfulness with which the road has
beenconstructed. The FirstMortgage Bonds of the
Company are now offered for sale at par and ac-
crued intorcst, at which price they pay at high rate
of interest. Both principal and interest being fully
secured by the value of the road and the extent
of itsbusiness, it would seem that no better invest-
ment can be offered; and we cheerfully call at
tention to the facts set forth in the advortisemem
of tho'.I.‘reasurer cfthe Company. I

A ew York Central Rallroml.
At a meetingfoi’ the d_irectors of the New York
York Central Railroad Conipany,he1d on the 19th
day of December, 1868, the following resolutions

were passed 2

Whereas, This Company has hitherto expended
of its earnings for the purpose of constructing and
equipping its road, and in the purchase of‘ real
estate and other properties, with zrview to the in-
crease of its traflzic, moneys equal in amount to
eighty per cent. of the capital stock of the Com-
pany; and whereas, the several stockholders of
the Company are entitled to evidence of such ex-
penditure, and to reimbursement of the same at
some convenient future period; now, therefore,

_[g,»,,gzmz, That n._ certificate, signed by the Pre-
sident and Treasurer of this COIIIKWWI be I-‘filled
to the stockholders severally, declaing that such
stockholder is entitled to eighty per cent. of the
amount of the capitalstock held by him, payable
rateably with the other certificated‘, Issued under

of its future earnings, with dividends thereon, at
the same rates and times as dividends shall be
paid on the shares of the capital stock of the
Company, and that such certificates may be at the
option of the Company convertible into stock of
the Company, whenever the Company shall be
authorized to increase its capital stock to an
amount suflicient for such conversion.

Jcesolvad, That such certificates be delivered to
the stockholders of this Company at the Union
Trust Company, in the City of New York, on the
presentation of their several certificates of stock,
and that the receipt of’ the certificate provided for
in these resolutions shall be indcrsed on the stock
certificate.

Jccsalvnd, That a dividend of four (4) per cent.,
free of Government tax. is hereby declared, pay-
able on the 20th day of February next, upon the
stock of this Company, and also upon the interest
certificates of the Company this day autho_ri'1.ecl.

The interest certificates authorized by said re-
solutions wlll be issued to the several stockhold-
ers entitled thereto at the ofiice of the Union
Trust Company, in the City of New York, where
the same will be ready for delivery on the presen-
tation of the stock certificates. Dated Dec. 21,
1868. E. D. Woncnsrnn, Treasurer.

Railroad from Ooblcsklll to Cherry Valley,

We learn from the Albany Journal that the con-
tract for the construction of this road has been
made with the Messrs. Weed, who are just com-
pleting the last fifteen miles of the Albany and
Susquehanna Railroad. The road is to be com-
pleted to Sharon Springs on the first of August,
and to Cherry Valley on the first of December next.
The whole distance is twenty-one miles, through
a. most beautiful and rich section of country.
The-re is now, in progress of construction, a road
from Utica to Itichfield. When completed, as it
will be next year, there will only be the distance
of fourteen miles, from Cherry Valley to Richfield,
to be spanned, to open up, to the East and West.
a large area, now destitute of all railroad facilities.

53‘ A dispatch dated Ottawa, Dec. 21, says
the Intercolonial Railway Commissioners adver-
tise for tenders for the construction of ~four sec-
tions of that road—two in Quebec, connecting
with the Grand Trunk at Riviera, du Loup ; one in
New Brunswick, near Dalhousie, and the fourth in
Nova Scotia. The sections are from twenty to
twenty-six miles in length.

this resolution,, at the option of the Company. out