The Ashland union. [volume] (Ashland, Ashland County, Ohio) 1854-1868, 1867-07-31
First Mortgage Bonds
SIX PER CENT. IN GOLD

This road was completed from Omaha sos
west on the LIST of January, 1867. and 10 fully
equipped, and trains are regularly running
over it. The Company hos nov on hand
sufficient iron, ties, ETC., TO finish the main
ing portion to The eastern base Of the Rocky
Mountains. 2l2 miles, which Is under con.
tract to be done September LIST Of this year
and it ID expected that the entire road WILDE
ain runuig order from Omaha 10 It's western
connection with the Western Pacific, now
being rapidly built eastward from Sscramsh-
to, CAL, during 1870.
Means Of the Company
Estimating the distance to be built BY the
Union Pacific to be 1855 miles, the United
States Government issues its Six per cent
Thirty year Bonds to the Company % the
road is flushed Ut the average rate of about
$2S $50 per mile, amounting 70 $44, 20e 900.
The Company is also permitted to issue its
own First Mortgage Bonds to an equal
amount, and at the came time, which by epe-
cial Act OF Congress are made 0 Fin stM
gage on the entire line, the bonds Of The Uni-
ted States being subordinate to them.
The Government makes q donation Of H.
800 acres Of land 10 the mile, amounting to
20,0s2. 900 acres. estimated TO be worth $780,.
000, 600, making the total resources, exclu-
sive Of the caJital, $ll8,416 600; but the full
value Of the lands can not now be realized.
The authorized Capital Stock Of the CON-
pany is one hundred million dollars. Of
which five millions have already been paid in,
and Of which it is not supposed that more
than twenty-five millions at most will be re-
quired.
The cost Of the road is estimated by com
petent engineers to be ab3ut one hundred
million dollars exclusive of equipment.
Prospec. for Busiaess.
The railroad connection between Omaha
ings Of the Union Pacific on the sections al
ready finished for the first two weeksin May
were $4,000. These sectional earnings
as the read progresses will much more than
pay the inter est on the Ccmpany's bonds, and
railroad between the Atlantic ami Pacific
must be immense.
Value and Security ofthe Bonds.
The Company respectfully submit the above
statement Of facts fully demonstrates the 90.
curity Of their Bonds, and as additional proof
they would suggest that the Bonds now offer
ed are less than ten million dollars on 5l7
miles of road, on which over twenty MILL OH
dollars have already been expended Ion $50
miles Of this road the cars are new running,
and the remaining 1877 miles are nearly COM
pleted.
At the present rate Of premiums on gold
these bonds pay On annual interest on the
present cost Of
Nine per Cent,
and il Is believed that on the completion Of
the road, like the Government Bonds, they
will go above par. The Company intend to
sell but o limited amount OF the present low
rate, and retain theright " advance the price
at their option.
Subscriptions will be received in New York
by the
CONTINENTAL NAT. BANK, No. 7 Nassau
ST., CLARK, DoDaE & Co, BAsKRBs, 81 VII
ST., JOHN ]. CISCO a Son, BAsKERs, No. o
Wall ST.,
and by BANKS AND BANKERS generally
throughout the United States, of whom mapv
and descriptive pamphlets may DO obtained.
They will also. be sent by mail from the Com
pany's Office, No. 20 Nassau Street, New
York, on application. Subscribers will se.
lect their own Agents in whom they have
confidence, who alone will be responsible 10
them for the safe delivery of the bonds.
JOHN j. CISCO,
Treasurer,
NEW YORK
. On 81.