Rutland weekly herald. [volume] (Rutland, Vt.) 1859-1877, 1867-06-27
rTHE UNION PACIFIC RAIL ROAD

4 Co. aaenow constrnCtinga railroad from
Omaha, Nebraska, westward towards the Pa
CiaC Ocean, making with its connections ar
unbroken line across the continent. The Com
pany now offers limited amount of the fret
Mortgage Bonds having thirty years TO run,
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,
at ninety cents on the dollar
This road was completed from Omaha, 800
miles west on the 1st of January, 1857 and is
fully equipped, and trains are regularly ran
ming over it, The company has now on hand
sufficient iron ties, &C, to finish the remaining
portion to the eastern base of the Rocky
Mountains, 2l2 miles, which is under contract
to be done Septembec lat, of this year. and it
is expected that the entire road will be in run
ming order from Omaha, to its western connec-
ton with the Central Pacific, now ling rapid
ly built eastward from Sacramento, Cal, during
1870.
MEANS OF THE COMPANY.
Estimating the distance to be built by the
Union Pacific TO be 1865 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 $28 $50
per mile, amounting to SA ,.0S,OOO.
The Company is also permitted to Issue It's
own First Mortgage Bonds to an equal amount:
and at the same time, which by special Act OF
Cons ress are made first Mortgage on the en-
tire line, the bonds of the United States being
subordinate to them.
The government made donation Of 12,S00
acres of land to the mile amounting to 20,032000
acres estimated to be worth $50 900 600, making
the total resources, exclusive OF the capital
sll8416 900; but the full value Of the lands can
not now be realized.
The authorized capital stock of the Company
is one hundred million dollars, OF which hve
millions have already been paid in, and OF
which it il not supposed that more than TWEEN
tyfve millions al most will be required.
The most of the road is estimated by compe-
tent engineers to be about one hundred million
dollars, exclusive of equipment.
PROSPECTS FOR BUSINESS.
The railroad connection between Omaha and
the East is now complete and the earnings OF
the Union Pacific on the sections already I'M
ished Tor the first two weeks in May were Sll3.-
coo. These sectional earnings as the road pro
crosses will much more than pay the interest,"
on the Companys bonds, and the through
business over the only line of railroad between
the A.antic 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 no" onereQ
are less than ten million dollars on 5l7 miles OF
road on which over twenty million dollars nave
already been expended - on $50 miles of this
road the cara are now running, and the remain
ing 1877 miles are nearly completed: -,
At the present rate OF premium on goio
these bonds paw 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 retain the
right to advance the price at their option.
Subscriptions will be received in New YORK
by the 49, G.
Continental National Bank, MOI Nassau ST.
Clark. Dodge, Il Co, Bankers, 81 Wall ST.,
John j. Cisco 8 Son, Bankers, No. 80 Wall
Street, and by Banks and Bankers generally
throughout the United States, of whom maps
and descriptive pamphlets mey be t oota Gn
pany's ONCE, No, o. 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. .ooo =, -
JOHN J. CISCO, Treasurer,
mav9od Ew3m New York