The Lancaster gazette. [volume] (Lancaster, Ohio) 1863-1886, 1867-06-06
THE UNION PACIFIC
RAILROAD CO.,
Ninety Cents on the Dollar.

Ninety Cents on the Dollar.
This road was completed from Omaha 305
mi le3 west on the LIST Of January, 1867, and is
fully equipped, and trains are regularly running
overit. The Company has now on hand suf'
fcicnt IRON, ties, etc., to finish the remaining
portion to the eastern base Of the Rocky Noun
tans, 2i2 miles, which is under contract to be
done September LIST ofthls year, and it is ex-
pectcd that the entire road will be in running
order irom Omaha TO Its western connection with
the Central Pacific, now being rapidly built east
ward from Sacramento, Cal., during 1870.
Means of the Company.
Estimating the distance to be built by the
Union Pacific to be ,5G5 miles, the United
States Government issues its Six per cont.
Thrty-year Bonds to the Company MS the road
is finished ut ths average rate Of about S20 ,25O
per mile, amounting to Sii.20S. 900.
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 First Mortgage OH the en-
tire line, the bonds Of the United States being
subordinate TO them,
The Government makes donation Of 1880
acres 0fl0nd TO tho mile, amounting TO 20,U32,-
900 acres, estimated to be worth $4,000, 900,
making the total resources, exclusive of the
capital, SllS ,ll6,00O; but the full yalue of the
lands cannot now be realized
The authorized capital stock Of the company Is
one hundred million dollars, of which five mill.
IONS nave Nlfeuuy been nald Ia, anu OF WnlCn IL
Is not supposed that more than tae epty five mill
ions 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.
The railroad connection between omaha and
the Eastis now complete, and the earnings ofthe
Union Pacific on tho sections already finished
for the first two weeks in May were SIl3,0OJ.--
h...Fr
VIII much more than pay tho interest on the
company's bonds, and tho through business
oyer the only line Of frailroad between the Attain
ticand Pacific must be immense.
VdIue and Security of the Bonds.
The company respectfully submit, that the
above statement of iilcts fully demonstrates the
security other Bonds, and rs additional proof
they would suggest that the Bonds now offered
are less than tenmlllion dollars on OH 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 iS7 miles are nearly completed.
Al the present rate of premium on gold these
bonds pay an annual interest on the present cost
OF
Nine Per Cent,
and Il ~ believed that on the completion Of Tie
road, like the Government Bonds, they will 20
above par The company lntcAd to sell but a
| limited amount at the present low rate, and re-
i.,in the right 70 advance tho price at their op.
ton.
subscriptions WILDE received in New York by
the
CoSrISESrAt NATIONAL BANK, No. I Nassau
Street,
CLARK, DoDor & Co, DANKERs, 81 Wall ST.,
JomS J. Cisco Son, BASRrBs, No. 80 Wall st.,
and by BANKS AND BANKERS generally
| throughout the United States, of whom maps
and descriptive pamphlets may be obtained
They viii lalso be sont by mail from the compa'
Inys office, No. 20 Nassau Street, Now York, on
application. Subscribers will select their own
Agents In whom they have confidence, who
alone will be responsible to them for tho safe
delivery Of the bonds.
JOHN j. CISCO,
Treasurer,
June Q, lsO7wom NEW YORK.