The Ashland union. [volume] (Ashland, Ashland County, Ohio) 1854-1868, 1867-06-12
First Mortgage Bonds
SIX PER CENT. IN GOLD,
Nj nety Cents on the Dollar.

ASey SS.t0 va tAC 1OAldl'
This road was completed from Omaha sos
west on the LIST of January, 1867, and is fully
equip cd, and trains are regularly running
over II. The Company has now OH hand
sufficient iron, lies, etc., TO finish the remain
ing portiont to The eastern base of the Rocky
Mountains. 2l2 miles, which is under con.
tract to be done September LIST of this year,
and it is expected that the entire road will be
n running order from Omaha to its western
connect ion with the Western Pacific, now
being rapidly built east wand from sacramen.
to, CAL, during 1870.
Means Of the Company.
Estimating the distance 10 be built by the
Union Pacific to be $3.50 miles, the United
States Government issues its Six per cent
Thirty year Bonds 10 the Company as the
road is flushed OF the average rate of about
~1o 200 per mile, amounting 10 S4l,2 POS 900.
The Company is also permitted to Issue lis
own First Mortgage Bonds to nm eonnI
amount, and at the came time, which nv sne.
cial Act Of Congress are made a First Mort
gage on the entire line, the bonds of The Uni
ted States being subordinate 10 them,
The Government makes donation of To-
500 acres OF land 10 the mile, amounting to
2V,ua2.U OO acres. estimated to be worth $50.
w., OOO, making the total resources, exclu-
sive Of The CAPITAL, SllS,4 Is 900; but the full
value OF the lands can not now be realized.
The authorized Capital Stock of The Com
pany Is one hundred million dollars. Of
which v cmillions have already been paid in,
and of which it is not supposed that moro
than twenty-five millions at most will be re.
quired.
The cost Of the road is estimated by COM
petent engineers to be ab-ut one hundred
million dollars, exclusive of equipment.
Prospects fer BUsiacss.
Tho railroad connection between Omaha
and the East is now complete, and the earn.
ings Of the Union Pacific on the sections al.
ready finished for the first two weeksin Nav
were $ll3,tOO. These sectional earnings |
as the read progresses will much more than
pay the interes on The ~Ccmpany's bonds. and
the through business over the only line or
railroad between the Atlantic AMI Pacific
must be immense.
Value and Security Of the Bonds.
The Company respectfully submit the above
statement of facts fully demonstrates tho ss'
curity oftheir Bonds, and as additional proof
they would suggest that the Bonds now offer.
ed are less than ten million dollars ON 517
miles OF road, on which over twenty mill; nm
dollars have already been expended 880
niles OF this road the cars are now rnnnipr
md the remaining 1877 miles are nearly CONF,
,leted. WI"
AT the present rate Of premiums on rold
hese bonds pay an annual interest on the
PRESENT cost of
Nine per Cent,
it is believed that on the completion Of
ne read, like the Government Bonds, they
go above par. The Company intend to
ell but q limited amount OF the present low 4
ate, and retain theright to advance the price
It their option.
Subscriptions willb received in New York /,
" the ]
CONTINENTAL NAT. BANK, No. 7 Nassau
T., CLARK, DoDGE h Co, BANKERS, 81 Wall
) j. Cisco a Son, BANKERS, No. SO
Vail ST.,
nd by BANKS AND BANKERS generally !
hrou gbout the United States, of whom maps
nd descriptive pamphlets may be obtained. /
hey will also be Sc mt by mail from the Com
any's Office, No. 20 Nassau Street, New
ork, on application, Subscribers viii So.
'ot their own Agents in whom they have
'nidenoe, who alone will be responsible 10
lem Tor the safe delivery VI the bonds.
JOHN J.. CISCO.
Treasurer,
NEW YORK.
SIN 81.
'autnnio Tucurouoo ro