Belmont chronicle. [volume] (St. Clairsville, Ohio) 1855-1973, 1867-06-20

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Union Pacific
RAILROAD CO.
Are now constructing Railroad from
OMAHA, NEBRASKA,
Westward towards the Pacific Ocean, making
with its connections an unbroken line
Across the Continent.
FIRST MORTGAGE BONDS
having thirty years TO rum and bearing annual
interest, payable on the first day Of January and
July, in the City Of New York, at the rate Of
SIX PER CENT. IN GOLD,
Ninety Cents on the Dollar.
Thisroa was completed from Omaha SO5 miles
W thI OIl tilt ibl VI lSOI, anu ~ Iully
equipped, and 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, 2l2
miles, which Is under contract to be done Sept.
LIST Of this year, and 1t is expected that the
tire road will he In running order from Omaha
to its western connection with the Central Pa
cihc, now being rapidly built Eastward from
Sacramento, Cal, during 1870.
. Means of the Company.
Estimating the distance to be built by the
Union Pacific to be J85 miles, the United States
Government issues Its Six per cent. Thirty year
Bonds to the Company as the road Is finished at
the average rate Of about s2s ,2J0 per mile,
amounting to 81, I,20s,O00
The Company is also permitted TO issue Its
own First Mortgage Bonds to an equal amount,
and at the same time, which by special Act OF
Congress are made a First Mortgage on the en-
tire line, the bonds Of the United States being
subordinate TO them.
The Government makes a donation of 1880
acres of land TO the mile amounting to % 032 900
acres, estimated to be worth $50, 1000 making
the total resources exclusive of the capital SllS
10000. but the full value of the lands cannot
now be realized.
The authorized Capital stock of the Company
is one hundred million dollars of which five
millions have already been paid in and Of which
1t is not supposed that more than twenty
millions at most will be required
The cost of the road is estimated by compe-
tent engineers to be about one hundred million
dollars, exclusive of equipment.
Prospects for Business.
Tie alroadiconnecton between Omaha and
the East is now complete, and the earnings of
the Union Pacific on the sections already finish
a
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 At
lantic and Pacific must be immense.
Value and Security of the Bonds.
The Company respectfully submit, that the
above statement of facts fully demonstrates the
security OF their Bonds, and as additional proof
they would suggest that the Bonds now offered
are less than ten million dollars ON 5I7 miles of
road, on which over twenty million dollars have
already been expended;-on 800 miles of this
road the cars are now running, and the remain
ing 1877 miles are nearly completed.
At the present rate of premium on gold these
bonds pay an annual interest on the present
cost of
Nine Per Cent,
and it is believed that on the completion of the
road, like the Government Bonds, they will go
above par The Company intend to sell but
limited amount at the present low rate, and re-
tain the right to advance the price at their option
Subscriptions will be received in New York by
the
Continental National Bank, No. : Nassau 81.
CLARK, Dodge d Co., Bankers, 81 Val ST.
John J. Cisco q Son, bankers, No. 80 Val 81,
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 Com
pany's office, No. 20 Nassau Street. New York,
ON application. Subscribers will select their
own Agents in whom they have confidence, who
alone will he responsible TO them for the safe
delivery Of the bonds
&c.. JOHN J. CISCO, Treasurer,
je0-3m .u .|rt New York.