Ellsworth American. [volume] (Ellsworth, Me.) 1855-current, 1867-07-12

IlilNI .'lVnlVAuL DUlDO
having thirty years to run and bearing annual
interest, payable on the first d y of Janna-y and
July, i'll the City of New York, at the rate OF
SIX PER CENT. IN GOLD,
Ninety Cents on the D ollar.
This road is already completed to Jules5urgb,
and trains regularly running over it. The
Company has now on haId sufficient iron ties, etc.
to finish the remaining port ion 10 the eastern base
OF the Rocky Mountains, Ill miles, which is under
contract to be done in september of this year, and
it is expected that the entire road will be in run
ming order from Omaha to its western connection
with the Centeral Pacific. now being rapidly built
eastward from Sacramento, Cal, during 1870.
Means ef the Company. !
Estimating the distance to be built by the Union
Pacific to be 80 miles, the nitcd States Govern
ment issues Is Sly per cent Thirty.year bonds to
rate Of about s.S,2oa per mile, amounting 10
sfi 20S,00p.
Ihe Company is also permitted to issue its own
FIRST Mortgage Bonds 70 an equal amount and at
the same time, which by special Act Of Congress
are made First Mortgage on the entire line. the
bonds oil tho United States Icing subordinate to
them.
The Government makes donation of l2,so>
acres of land 10 the mile amounting 10 200$2 900
acres estimated 10 lie worth 30,0ou,6o0, but the
full value of lands cannot now be tealiz ed.
The authorized Capital Stock of the Company Is
one hundred million dollars, OF which iiye millions
have already been paid ill., and Of which t is not
supposed that more than twenty-five millions al
most will I've required.
The cost Of the road is estimated by competent
engineers to be about one hnnorcd million dollars
exclusive of equipment.
Prospects Of Business.
The railroad connection between Omaha and ,he
Eas, is now complete. and the earnings of the
Union Pacific on the sections already flushed 70!
the first two weeks in May were all3,0oo These
sectional earnings as the road progresses will
much more than pay the interest OH the Com
pany's bonds, and The through bu mess over the
only line OF railroad between the Atlantic and
i Pacific must be Immense.
I'alue and Security ot'hc Bonds.
The Company respectfully submit, that the
above statement of facts fully demonstrates the
security OF thor Bonds, and additional proof
they would suggest that the bonds now offered arc
less than ten million dollars on 5l7 miles of road
Oh which over twenty million dollars have already
been expended ON $50 miles ofthis road the cars
are now running, and the remaining Is. miles Z
nearly completed.
At the present rate Of premium gold these
bonds pay an annual interest on the present cos.
of
Nine per Cont.
and it is believed that on the completion of the
road, like til Government Bonds they will 20
above par. The Company intend to sell but II
limited amount at the present low rate and retain
the right to advance the price at their opon.
subscription will be received in New York by
the
CONTINENTAL NATIONAL BANK, No. NtssauSt.,
CLARK, DODGE & Co, BANNERS, 81 Wall St,
JOIN J. CISCO SON BANNERS, 30 Wall ST.,
and by HANKS AND BANKERS generally through.
out the United States, of whom maps and descrlp.
i've pamphlets may be obtained. They will also
he sent by mail from the Company's ONCE No. ~
Nassau Street, New York, on apple alton. Sub
scribers will select their own gents iii whom they
have confidence. who alone will be responsible 10
Them for the safe delivery of the donds.
JOHN J. CISCO,
Ire1surer,
3man NEW YORK.