Bedford inquirer. [volume] (Bedford, Pa.) 1857-1884, 1867-12-20
500 MILES
OF THE
UNION PACIFIC RAILRoAD.
RUNNING WEST FROM OMAHA
ACROSS THE CONTINENT
ARE NOW COMPLETED.

The Union Pacific Railroad Compauy have
built longer line Of railroad in the as eighteen
months than was ever built by any other eomus.
ny in The same time, and they will continue tbs
work With the same energy until II is completed
The Western Division Is being pushed rapidly
eastward from Saeramenta By the Central Pacific
/ Company Of California, and IL is expected that
THE ENTIRE GRAND LINE
| to the Pacific VIII be open far business in Is7o
/ Mere hoa oae third Qf ne a,rk hns alresdg Jees
do,e than gae third II 'hs ubofe Ias + .a,,
IN running ordsy and fgborers ars ,,o,s ea-
! pioyed rpm II hua eser 5,fore. More than
/ FORTY MILLION DOLLARS IN MONEY
/ have already been expended by the two poge-5,
I companies that have undertaken the enterprise
and there is 10 lack ef funds tlr it, faost qvorou
! Prosecution. When The United states Govern
I Iaent found IT necessary 10 sccme IT, copstrle
/ tiou Of the Union Pacific Railroad, % de.elopan
protect its OWE interests 80 gage tie CofnuaDie
authorized 10 build i such ample aid ss should
/ rea4er itg speedy completion beyond a doubt
/ The available means Of the Union Pacifc Rail-
/ road Company derived from the Government and
| its sEn stochLoider-, may be briefly summed up
as follows
UNITED STATES BONDS
| Having thirty years to run and bearing six Der
cent. currency interest the rate Of $40 600 Ber
mile for III miles the Plains; then al the rate
/ 0f s4s,o00 per mile for l50 miles through the
Rocky Mountains; thence az the rate Of $50 coo
per mile for the remaining distance for which the
United States takes second lien security. The
I interest on these bonds Is paid 10y the United
States government, which also pays the company
half the amount Df its bills IN money for trans
/ porting its freight, troops, mails, &c The re-
naming half Of these bills is placed % the com
/ pany's credit, and forms sinking fund which
may finally discharge tue whole amount Of this
| lien. The claims against the government since
April cf the current year amount % four and one
half times this interest
FIRST MORTGAGE BONDS.
/ BY its charter the Company is permitted To is
/ sue its own First Mortgage Bonds 10 the .sma
/ amount as he bonds issued by the government,
/ and more, and only e. road Urogrssses. The
/ Trustees for the boDdholders are The Hon. n
1 Morgan, Z. g. Senator from New York aud the
l Hon oakes Ames, Member Of the Z. S. House Of
Representatives, who are responsible for the de-
livery Of these bords to the Company in strict ac
! cordanee with the terms Of the law.
3-THE LAND GRANT.
The Union Pacific Railroad Company has
| land grant or absolute donation from the govern
ment Of I2,S00 acres to the mile on the lire oftbe
Of the road, which viii not be worth less than
Si.5O per acre at the lowest valuation.
1.-THE CAPITAL STOCK.
The authorized capital Of the Union Pacific
/ Railroad Company is 100000, eco. Of which over
done.
! THE MEANS SUFFICIENT TO BUILD THE
ROAD.
/ Contracts for the entire work Of The building
sl4 miles Of tirst-class railroad west from Omaha
/ comprising much of The most difficult mountain
work, and embracing every expense eXcept sur
/ yeying, have been made with responsible par-
/ ties (who have already finished over 5Gc miles,.
/ at the average rate Of sizty-eight thousand and
/ hfty-eight dollars lS6S05S5 per mile This priee
includes all necessary shops for construction and
repairs OF cars, dep0ts. stations and all other IL
| cldentai buildings, and also locomotives, passen-
ger, baggage, and freight cars and other requisite
rolling stock, % amount that shaIl not Be less
! than $1,000 per mile. Allowing the cost Of the
1 remaining hundred and eighty-six Of the
! eleven hundred miles assumed TO be built by the
! Pacific Company to be S90,6a0 per mile.
/ THE TOTAL COST OF ELEVEN HUNDRED
MILES Will BE As FOLLOWS.
al4 miles at S5s .05s ............... .SBg 205eI2
l,b miles at 500, 200 ......-. I+n GOO
add discounts On bonds, surveys, 5c...-.4500.ag0
amount ,3,4l5,Ul2
As The Z. S. Bonds are equal to money. andthe
Company's own First Mortgage Bonds have
ready market, we have gs the
AVAILABLE CASH RESOURCES FOR
BUILDING ELEVEN HUNDRED MILES:
T. = boHts.....- .32s 000
First Mortgage Bonds ............-...... 2932s.O0O
Capital stock paid in on the work now
done ...,... ......-.............- 5,36q-5O
Land Grant, l4,eSe,090 acres. 81 $50
per acre.. q, 10000
Aota4 -.-,- ,.-..,...SS5, l45.750
The company have ample facilities for SUPPLY
ing any deficiency that may arise in means for
construction This may be done wholly or in
part By additional subscriptions to capital stock
Active inquiry has already been made for
portion Of these lands. and aTrsngemf fats areuow
proposed to offer part oF them for sale While
their whole value viii not be available for some
years to come. they Eill remain very important
source of revenue 10 the Company The lands Of
the Illinois Central Railroad Company are sell
ling at from 81 to SI2 per acre, and other land
grant companies in the West are receiving equal
prices for similar properties.
FUTURE BUSINESS.
The most skopticaI have never expressed a
doubt that when the Union Pacific Railroad Is
finished the immense business that mus, flow over
il, the only railroad connecting the two grand
divisions Of the North American continent will
be one Of the wonders Of railway transportation:
and as iC viii have no competitor it can always
charge remunerated rates.
EARNINGS FROM WAY BUSINESS.
Daring the quarter ending July 81. an average
Of 525 miles Of the Union Pacific Railroad was
the following result:
EARNINGS.
Passengers, Freight, Telegraph and
Mals.,..-.., Gee. 1928, IJ5 %
Transportation of Contractors Mate
rials and Men. .............. 7q2Ss Il
Total. .....sI, ,2o8, ,OSs Al
EXPENSES.
Fuel Repairs, Offices, Conductors
Trains, ......... 1900. 1895 $50 %
Net EARNlyGs TO balance.............. S07 SOS O3
The net operating expenses on the commercial
business for the quarter were S23T ,956 so. The
account for the COMMERCIAL BUSINESS
stands as follows.
Earnings for May, June aud July......s723.755 81
Expenses "a ............. 2s7. .g66 so
Net tHAl.--.- As5,tS9 Oh
The amount of Bonds the Company eanissueop
so miles, at Si6,OoO per mile, is S5,2e0,00G. In
teTest IN gold, three months, at per cent on this
sum, Is S5S,0OO; add 80 per cent premium, to cor
respond with currency earnings, is SI0q geo
showing that the net earnings for this quarter
we're more than four times Ie iRterest on the First
Mortgage Bonds on this length Of road.
FIRST MORTGAGE BONDS.
whose principal is so amply provided for and
whose interest is so thoroughly secured must be
classed among the safest investments. They pay