Belmont chronicle. [volume] (St. Clairsville, Ohio) 1855-1973, 1867-08-01
fiaanfial.

TEIE
Union Pacific
RAILROAD CO.
Are now constructing Railroad from
OMAHA, NEBRASKA,
Westward towards the Pacific Ocean, making
with It's connections an unbroken line
A cross the Continent.
The Company now offer a limited amount Of
their
FIRST MORTGAGE BONDS
having thirty years 10 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,
Ninety Cents on the Dollar.
This road was completed 70 Juesburg, S6miles
West of Omaha and is fully equipped, aidtrains
are regularly running over IL. The Company
/ has now on hand sufficient iron, ties, ETC., to
| finish the smanlng portion to the Eastern
| base of the Rocky Mountains, III miles, which
is under contract 10 be done in September
VI llllS NChIf anu u 10 tAItcicd biIhb VIC Nh-
tire road will be in running order from Omaha
| to its Western connection with the Central Pa
clhc now being rapidly built Eastward from
Sacramento, Cal, during 1870.
Means of the Company.
Estimating. the distance TO be built by the
Union Pacific to he ,5jj miles. the United states
Government issues its Six per cent. Thirty-year
Bonds to the Company the road is finished at
the average rate of about s2s, 30 per mile,
amounting TO sli,2OS,OO.
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 on the en-
tire line, the bonds of the United States being
subordinate 10 them.
The Government makes q donation OF l2,SOO
acres of land to the mile amounting to 20,032 600
acres, estimated to be worth s30,0OO,CIO, making
the total resources exclusive Of the capital, sll3
$4,000: but the full value OF the lands cannot
, now be realized.
, The authorized Capital Stock OF the Company
is one hundred million dollars, Of which five
millions have already been paid III, and of which
il is not supposed that more than twenty-five
millions at most will he required.
: The cost OF the road is estimated by compe
e tent engineers to be about one hundred million
i dollars, exclusive Of equipment
Prospects for Business.
q The railroad connection between Omaha ant
q the East is now complete, ana the etGillIlBb y
II the Union Pacific on the sections already llnlsl
$ ed for the first two weeks in May were Sll3OV
, These sectional earnings as the road progresse
II will much more than pay the interest," on Tn
l, Company's bonds, and the through Dusineh
A. over the only line OF railroad between. the AZ
q lantic and Pacific must be immense.
Value andiSecurity of the Bonds.
The Company respectfully submit, that tn
above statement of facts fully demonstrates tn
security of their Bonds and as additional prot
they would suggest that the Bonds now ofIere
are less than ten million dollars on 5lI miles
road, on which over twenty million dollars haN
already been expended ON $50 miles of tn
road the cars are now running, and the relnai1
ing Isl miles are nearly completed.
,o At the present rate OF premium on gold the'
oc bonds pay an annual interest on the presel
- cost of
Nine Per Cent,
81 and it is believed that the completion of Il
road like the Government Bonds, they Will
e. above par. The Company intend to sell but
tain the right to advance the price at their optic
subscriptions will be received in New \ ork
ed the
w Continental National Bank, No. 7 Nassau ST.
n CLu1,k DOdge e Co., Bankers, 81 Val 81.
H. Jim j. Cisco Il Son, Bankers, No. 33 Wal ST.,
and by BANKS AND BANKERS general
throughout the United States, of whom ma
and descriptive pamphlets may be obtained
They will also be sent by mail from the Coz
. | pany's Office. No. 20 Nassau Street, New Ior
. ON application. Subscribers will select tn,
:, own Agents in whom they have confidence W
), alone will be responsible TO them for the y;
- delivery of the bonds.
JOHN ]. CISCO Treasurer,
je6-3m New York