The Portland daily press., 1867-07-27

,a1-5 e.
ACROSS THE CONTINENT. taf B,
The Company now offer limited amount of their
FIRST MORTGAGE BONDS
terest payable on the first day OF January and July
IN the city OF New York, at the rate CT
Six Per Cent. in Gold,
AT
Ninety Gents on tIae Dollar.
This road is already completed to Juesburg three
hundred seventysx miles west Omaha and is fully
equipped ami trains are regularly running over it,
The company has now on hand sufficient iron, ties
etc., to finish the remaining portion to the eastern
base OF the Rocky Mountains, Pc miles, which is
| under contract to be done September LIST OF this
year, and ii is expected that the entire road will he
in running order from Omaha to its western connec-
ton with the Central Pacific, now being raduIy
built east ward from Sacramento Cal, during 1870
Means OF the Company. 'i
Estimating the distance to be built by the Union
racine to be ,565 miles, the United States Govern
ment issues its Six per cent. Thirty-ycar bonds to
the Company as the road is finished at the average
rate of about $2s,25O per milc amounting to slI,-
EOS, 600. 81 gE ,5fttE q ~ y EsEf ~ ~
FIRST Mortgage Bonds to an equal amount and at
the same time, which by special Act Of Congress are
made First Mortgage the entire line, The bonds
OF the United States being subordinate 10 them.
I The Government makes donation OF 10 500 acres
OF iand to the mile amounting TO 20,OG2 900 acres
estimated to be worth S30,O00,0Oo. making the ota
resources exclusive OF the capital Sis GG0 but
the full value of the lands cannot now be realized.
Inc authorized Capital Stock of the Company is
ono hundred million dollars of which five millions
have already been paid in, and OF which 1t is MOI
supposed that more than twenty-five millions ~
most will be required. ~
The cost of the road is estimated by competent
engineers TO be about one hundred million dollars
exclusive OF equipment. 'li tle-sai -i'as "a. 3.
Prospects for Business.
The railroad connection between Omaha and The
LAST now completes and the earnings of the Union
racine on the sections already finished for the first
two weeks in May were Sits,o0O These sectional
earnings, as the road progresses, will much more
than pay the interest on the Company's bonds and
the through business over the only line of railroad
between the Atlantic and Pacific must be immense.
Value and Security Of the Bonds.
The Company respectfully submit that the above
of facts fully demonstrates the security
their Bonds and as additional proof they would sug-
gest that the Bonds now offered are less than ten
million dollars on 517 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.
r AT the present rate of premium on gold these !.
bonds pay an annual interest on the present cost
Nine Per Cent, III q
I &c.
AMI 1t is believed that on the completion of the road
ike the Government bonds,'they win go above par
The Company intend to sell but limited amount at
the present low rate and retain the right to advance
the price at their option. -
Subscriptions will be received in New York by the
CONTINENTAL NATIONAL BANK, No Z, Nassau St
CLARE, DODGE q Co., BANKERS, 81 Wall ST.,
JOHN Cisco & Son, BANKERS No. SO, Wall ST
and by BANKS AND BANKERS generally
throughout the United States, OF whom maps and
descriptive pamphlets may he obtained They
will also be sent by mail from the companys Office,
No. 20 Nassau street, New York, on application.
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.
JOHN j. CISCO, Treasurer.
~ NEW YORK.
the above bonds In this city, u june3dl&w3m