The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1867-06-20
stisGELrANEUt's,

MISCELLANEOUS,
s-,--
THE
UNION PACIFIC
RAILROAD co. {.
Are now constructing Railroad from
OMAHA, NEBRASKA,
westward towards the Pacific Ocean, making wit
its connections an mbroken line a3.'n
ACROSS the CONTINENT.
The Company now offer limited amount of their
FIRST MORTGAGE BONDS
having t irty years to run ard hearing annual in
terest payable on the first day OF January and July,
III the City OF New York, at the rate CT 10 ..,
Six Per Cent. in Gold,
Ninety Cents on the Dollar
This road was completed from Omaha 3oJ miles
west, on the LIST OF January, 1867 and is fully
equipped, and trains regularly running over it,
The company has now or hand sufficient iron, ties,
etc., to finish the remaining portion to the eastern
base OF the hocky Mountains, 212 miles, which is
under contract to be done September LIST OF this
year anu IL Is eApecteu thai the cnllrS ROAD VIII De
in running order from Omaha to its western connec-
ton with the Central Pacific, now being rapidly
built eastward from Sacramento, CAL, during 1870.
1T Means Of the Company.
Estimating the distance to be built by the Union
Pacific to be 1,565 miles, the United States Govern
ment issues its Six per. cent. Thirtyyear bonds to
the Company the road is finished at the average
rate of about S2s,250 per mile, amounting to $44,
EOS, 600. E.k G,N HB,k a
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
made First Mortgage on the entire line, the bonds
of the United States being subordinate to them.
The Government makes donation of IL 500 acres
OF land to the mile amounting TO 20032 900 acres,
estimated to be worth $50, 100000 making the tota
resources exclusive OF the capital Sis 600 but
the full value OF the lands cannot now DO realized
The authorized Capital Stock OF the Company Is
one hundred million dollars. Of which five millions
have already been paid ill., 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
engineers to be about one hundred million dollar
exclusive of equipment. ..t Is s3
Prospects for Business.
4uc urodU cCuuecllOu between omaha and the
East is now complete, and the earnings of the Union
Pacific the sections already finished for the first
two weeks in May were s1l3,oOO. 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
statement of facts fully demonstrates the security
their Bonds, and 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 nearly completed. q
At the present rate OF premium on gold these
bonds pay an annual interest on the present cost
s...r..t Nine Per Cent, A9Strs
and 1t is believed that the completion of the road
like the Government bonds, they will 60 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. 1-R
Subscriptions will be received in New York by the
CONTINENTAL NATIONAL BANK, No Z, Nassau st.
CLARK, DODGE d Co., BANKERS, 81 Wall ST., q
JOHN j Cisco 81 Son, BANKERS. No. 33, Wall St
and by BANKS AND BANKERS generally
throughout the ohiieu states, OF whom maps and
descriptive pamphlets may he obtained. They
will also DO sent by mail from the Company's office
No. 20 Nassau street, New York, on application.
Subscribers will select their own Agents in whom
they have confidence who alone will be responsible
to them for the safe delivery of the bonds. az
JOHN j. CISCO, Treasurer,
NEW YORK.
W. H. WOOD & SON, are agents tor the sale of
the above bonds in this city, juye3d&w3m