Rutland weekly herald. [volume] (Rutland, Vt.) 1859-1877, 1867-12-12
SOS MILES OF THE UNION
OZs) PACIFIC RAILROAD, Running

SOS MILES OF THE UNION
OZC PACIFIC RAILROAD, Running
West IRON Omaha across the continent, are
now completed.
This brings the line to the eastern base of the
Rocky Mountains, and II 10 expected that tho
track will be said thirty miles further, to Evans
Pace, the highest point on the road, by January.
The maximum grade from the foot OF the noun
talhs TO the summit IL but eighty feet TO the
mile, while that OF many eastern roads Ia over
one hundred, Work In the rock Cuttings on
the western slope will continue through the
winter, and there Is now no reason 10 doubt
that the entire grand line TO the Pacific will be
open for businssa In 1870,
The means provided for the construction OF
this Great National Work are ample. The
United States grants Its Six Per Cent, Bonds at
the rate OF from $40 900 to sis 600 per mile, tor
which II takes a second lien a. secnrity, aud re,
eeives payment to a large fnot TO the full ex-
tent OF lite claim In services. These Bonds are
issaed as each twenty mile section IL finished,
and after II has been examined by UDited States
Commissioners and pronounced TO be in all
respects hrst.class road, thoroughly supplied
with depOts, repair shops, stations, and all the
necessary rolling stock and other equipments
The United States ALEC makes donation OF
fesO0 acres OF land to the mile, which will be
source OF large revenue to the Company. Much
of this lanS In the Platte Valley Ia among the
meat fertile In the world, and other large por-
tions are covered with heavy pine forests aud
abound in coal of the beet quality,
The Company Ia also authorized 10 issue Its
own Fret Mortgage Bonds to an amount equal
to the issue Of the Government and no more
Hen Il, d, Morgan and Hon. Oakes Ames are
Trustees for the Bondholders, aud deliver the
Bonds 70 the Company only as the work pro.
crosses 20 that they always represent an actual
and productive value,
The authorized capital of the Company is
One Hundred Million Dollars, Of which over
hve millions have been paid IN upon the work
already done,
EARNINGS OF THE COMPANY.
AT present, the profits of the Company are
derived only from its local traffic, but this is
already much more than sufficient to pay the
interest ca all the Bonds the Company can
issue, II not another mile were built II is net
doubted that when the road Is completed the
through traffic of the only line connecting the
Atlantic and Pacific States will be large beyond
precedent, and, as there will be no cOmpetl-
tox, II can always be done al profitable rates.
II will be noticed that the Union Pacific Rail
road s, in fact, Government Work, built M
der the supervision of Government officers,
and TO a large extent with Government money,
and that its bonds are issued under Govern
ment direction. 1t is be ieved that no similar
security is so carefully guarded, and certainly
no other Is based upon larger or more valu-
| able property. As the Company's
FIRST MORTGAGE BONDS
| are offered for the present at 80 Cents on the
| Dollar, they are the cheapest secur,ty in the
! market, being more than Is per cent. lower
LhAu u .. NluCAs, 1uSy pay
SIX PER, CENT. IN GOLD,
| or over NINE per cent. upon the investment.
| Subscriptions Will be received in Rutland by
| S. W. ROWELL, Cashier National Bank of Rut-
| land: HENRY f. FIELD, Cashier Rutland
| County National Bank aud in New York at the
| Company Office, No. - Nassau street, and by
| CONTINENTAL NATIONAL BANK, No.
| Nassau street.
CLARK, DODGE & CO., Bankers, No. 81 Wall
| street.
| JOAN J. CISCO s. SON, Bankers, No. 80 Wall
street
And by the Company's advertised Agents
throughout the United States, OF whom maps
| and descriptive pamphlets may be obtained on
| application. RemittanCes should be made in
| drafts or other funds par in New York, aud the
| bonds will be sent free of charge by return ex-
| press.
| Subscribers through local agents viii look 10
| them for their deliv ry.
JOHN j, CISCO, Treasurer, New York.
November II, 1867. dSw2m