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


i Co. aae now constructing railroad from
Omaha, Nebraska, westward towards the Pa
clue ocean, making with its connections al
unbroken lihe across the continent. The Com,
pany now oflersa limited amount of the first
Mortgage Bonds having thirty years to run,
and bearing annual interest, payable on the
nrst day OF January and July, in the city of
New orE, at the rate Of six per cent in gold,
at ninety cents on the dollar.
TINS road was completed from Omaha, 305
m,Ies west on the lst of January, 1857 and IL
iuUy equipped, and trains are regularly run,
hNhg over H. 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 ia under contract
70 De done Septembe- LIST, of this year, and it
lsexpected that the entire road will be in run
ming order from Omaha TO its western ConneC.
ton with the Central Pacific, now ing rapid
ly built Castwil d from Sacramento, Cal during
1870.
MEANS or TIE COMPANY.
Estimating the distance TO be built by the
Union Pacific to DO 1,665 miles, the United
States Government issues its six per cent
Thlrty,ye Bonds TO the Company as the road
Is hnished atthe average rate of about $2S, $50
per mile, amounting to $44,.0SC COO.
The Companyis also permitted to issue its
own First Mortgage Bonds TO an equal amount
and at the came time, which by special Act OF
Congress are made first Mortgage on the en-
tire line, the bonds of the United States being
subordinate to them.
The government made a donation of 70 500
acres OF land to the mile amounting to 20 032 900
acres, estimated to be worth $30, 900 0OO making
the total resources, exclusive OF the capital
SnS,4l6,0O; butt full value Of the lands can
not 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 II is not supposed that more than TWEEN
tytVe millions at most will be required.
nf IN naH 10 bv,r
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 fin
lshed Tor the first two weeks in May were S1l3-
600. These sectional earnings as the read pro-
crosses 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.
yALUE AND SECURITY OF THE BONDS
The Company respectfully submit that the
above statement of facts fully demonstrates the
security at their Bonds, and as additional proof
they would suggest that the Bonds now offered
are less than ten million dollars on 5l7 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 remain
ing 1877 miles are nearly completed.
Al me present rate of premium on gold
these bonds pay an annual interest on the
present cost OF nine per cent, and it il believed
that on the completion of the road like the
Government Bolds, 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
Continental National Bank, NOT Nassau St..
Clark Dodge, & Co., Bankers, 81 Wall ST.,
John j. Cisco v Son, Bankers, No. % Wall
Street and by Banks and Bankers generally
throughout the United States of whom mans
and descriptive pamphlets mey be obtained.
They will also he sent by mail from the Com
panys Office, No, ,, 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
JOHN j. CISCO, Treasurer,
may3Od&w3m New York