Daily Ohio statesman. [volume] (Columbus, Ohio) 1855-1870, 1867-07-09

trains are regularly running over it. The Company
has now hand sufficient iron. ties, etc.. to finish
the remaining portion to the eastern base of the
Rocky Mountains, l41 miles, which is under con-
tract to be done in September of this ar and it is
expected that the entire will be in running order
from Omaha tots western connection with the Gem
trail Pacific, 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 1855 mile the United States Govern
ment issus its Six per cent. Thirty, ear Bonds to
the Coz pany the road is finished at the average
rate of about S2s ESQ per mile, amounting to $44-
2Os 900.
The Company is also permitted 10 issue its own
First Mortsage Bonds to an equal amount, and at
the same time, which by special Act of Cong
made First Mortgage on the entire line, the bonds
of the United States being su0Ordinoteto them.
The Government makes 3 donation of Il, 800 acr
of land to the mile. amounting to 90 O32 600 acres
estimated to be worth $50, 900 OOO making the total
resources, exclusive of the capital Sis 600; but
the full value of tn lands cannot be realized.
The authorized Capital Stock of the Company is
hundred million dollars, Of which five millions
have alresdy been paid in. and of which it is not
supposed that more than twenty-five millions at
most will be required.
The cost of the road is estimated by competent
en9ine'rs to be about one hundred million dollars
exclusive of equipment.
PROSPECTS FOR BUtINESS.
The railroad connection between Omaha and the
East is now complete and the earnings of the Union
Pacific on the sections already finished for the m st
two weeks in May were $4,000. These sector al
earnings as the road progresses will much more than
pay the interest on the Coupany's bonds, and the
through business the only line of railroad be-
tween the Atlantic and Pacific must be immense. "a
VALUE AND SEE URITY OF THE BONDS.
The Conn any respectfully submit, that the above
statement of facts fully demonst ates the security
Of their Bonds, and as additional proof they would
suggest that the Bonds offered less than ten
millions dollars 5l7 mile of road, on which
twenty million dollars have already been expended
on $50 miles of this road the cars now running
and the remaining 1877 miles nearly completed.
At the present rate of premium on gid these
bonds pay annual interest on the present cost of
NINE PER CENT,
And it is believed that the completion of the road.
like the Government Bonds, they will go above par
Tee Company intend to sell but limited amount
at the present low rate. and retain the right to ad
vance the price at their option. ts. ..r ...
Subscriptions will be received in New York by
the sd. ar
Continental National Bank, No Nassau St.,
Clark. Dodge 6 Co. Bankers 81 Wall St..
John ]. Cisco 6 Son, Fankers, No. SO Wall sr.,
AND BY
RICKLY & BRO, Columbus, Ohio,
And by BANKS and BANKERS generally through
out the United States, of whom Maps and Descrip-
tive Pamphlets may be obtained. They will also be
sent by mail from the Company's Office No. 90 Mas
'sau street. New York. on application. Subscribers
will select there own Agents in whom they have
fdence. who alone will be responsible to them for
the safe delivery of the bonds. ~,
JOHL J. CISCO, Treasurer,
. .. NEW YORK.
y3o-daw3m-ins-r