The evening Argus. [volume] (Rock Island, Ill.) 1861-1871, 1867-07-25


-. Ar s
Ninety Cents on the Dollar.
This road is already completed to Julesburgh,
516 miles west of Omaha, and is fully equipped.
and trains are regularly running it
The Company has on hand sufficient
iron ties, ETC., to finish the remaining portion to
the eastern base of the Rocky Mountains, III
miles, which is under contract to be done in Sep
TENDER of this year, and it is expected that the
entire road win be in running order from Omaha
to its western connection with the Central Pacific,
now being rapidly built eastward from Sacrament
to, Cal, during 1870.
Means Of the Company.
Estimating the distance to be built by the Union
Pacific to be 1866 miles, the United States Gov
eminent issues its Skipper cent. Thirty year bonds
to the Company as the road is finished at the av-
erage rate of about S2s, $50 per mile, amounting
to $44, 20s, 0e0. .aa...a
The Company is also Permits TO issue its own
First Mortgage Bonds to equal amount and at
the sam, time, which by special Act of Congress.
are made First Mortgage on the entire line, the
bonds of the United States being subordinate to
them.
The Government makes donation; of Il, 500
acres of land to the mile, amounting to 20,e32 600
aeres estimated to be worth $50, 900 ,00e, making
the total resources exclusive of the capital slls
416, 900 /; but the full value of the lands cannot
now be realized
The authorised Capital Stock Of the Company
is hundred million dollars, of which five mil
lions have already been paid in, and of which it
is not supposed that more than twenty-five mil
| lions at most will be required.
| The cost of the road is estimated by competent
engineers to be about one hundred million dollars
| exclusive of equipment.
Prospects for Business.
| The railroad connection between Omaha and
the East is complete, and the earnings of the
| Union Pacific the sections already finished for
! the first two weeks in May were $4,000. These
| sectional earnings the road progresses will
much more than pay heiinterest ON the Compa-
ny's bonds, and the through business over the
| ly line of railroad between the Atlantic and Pa
| cfc must be immense.
Value and Security Of the Bonds.
The Company respectfully submit, that the
above statement of facts fully demonstrates the
security iof their Bonds, and additional proof
they would suggest that the Bonds now offered
are less than ten million dollars on SIT miles Of
road, on which over twenty million dollars have
already been expended on $50 miles of this
| road the cars are now running, and the remaining
| 1877 miles are nearly completed. 81
At the present rate of premium on gold these
bonds pay an annual interest on the present cost
of
T<"it'"7 Mine Fer Cent, %, -
and it is believed that en- the completion of the
road like the Government Bonds, they will 60
above par. The Company intend to sell but
limited amount at the presentlow rate and retain
the right to advance the price Al their option.
Subscriptions will be received in New York by
the -
CONTINENTAL NATIONAL BANK, No. II Nassau
Street.
| CLARE, DoDGE Co., BANKERS, 81 Wall St.
A -JonN ;. CISCO & Soy, BANkEns, No. 80 Wall
Street, -.-.-..
and by BANKS AND BANKERS generally
throughout the United States, of whom maps and
descriptive pamphlets may be obtained. They
/ will also be sent by mail from the Company's
Office, No. 20 Nassau Street, New York, on appli-
| cation. Subscribers viii select their own agents
| in whom they have confidence, who alone will be
responsible to them for the safe delivery of the
/ bonds. ifs- t-sai -aA = a5-a -s7
] s sa@ !. - JOHN J. CISCO, 81
| 20 -c-- C. S4.a a5H TREASURER, sls+
| ,....- NEW YORK.
II may3odv3m- r. -sF4t!Fg - +. 80.