Bedford inquirer. [volume] (Bedford, Pa.) 1857-1884, 1867-11-15
500 MILES
% rHE
UNION PACIFIC RAILROAD,
RUNNING WEST PROM OMAHA
ACROSS THE CONTINENT,
ARE NOW COMPLETED.
500 0NtLEs

The Onion Pacific Railroad Company have
built longer line ef railroad in the last eighteen
months than sas ever built ly any other e0mpa-
ny n the same tine, and they viii continue the
work With the same energY until il is completed.
The Western Division IS being pushed rapidly
eastward from Sacramento By the Central Pacific
Company of California, and il is expected that
THE ENTIRE GRAND LINE
% the Pacific VIII be open for business IN 1870
Ao'e AaH oHs-third of ne rork has alrsady been
aoae, more AaH oe-fhird n tie shole liRe & Eoa
ia gunaing 0raer, AID more la5srsrs are noe en-
Pt0yea apoa g tAaa sreT befors. More than
FORTY MILLION DOLLARS IN MONEY
have already been expended BY the two powerful
companies that have undertaken the enterprise,
and there is no lack Of funds for its most vigorous
prosecution When the United States Govern
ment found It necessary to secure the canstrue-
tlon Of the Union Pacific Railroad, to develop and
protect It's own interests, IT gave the Companies
authorized to build il such ample aid as should
reader iis speedy completion beyond q doubt
The aYaiiabie means Of the Union Pacific Rail
road Company, derived from the Government and
us own stockholders, may be briefly summed up
as follows:
LIMITED STATES BONDS
Having thirty years to run and bearing six per
mile fer 5l7 miles On the Plains; then at The rate
Of Si5oe0 per mile for $50 miles through the
Rocky Mountains thence at the rate Of $50, eco
Per mile for the remaining distance for which the
United States takes secoa& lien as security. The
interest on these bonds Is paid BY the United
States government, which also pays the company
onehalf the anloGnt Of its bills n money for trans
porting its freight troops mails, &C. The re-
naming half Of these bills IS placed to the con-
pany's credit, and forms a sinking fund which
may finally discharge toe whole amount Of this
lien. The claims against the government sines-
April Of the current year amount to four and one
half times this interest
2-FIRsT MORTGAGE BONDS.
BY its charter the Company is permitted 10 is
sue its own First Mortgage Bonds 70 the same
amount as the bonds issued by the government,
and 80 more, and 0RIy a. thc road progresses The
Trustees for the boRdhelders are the Hon E. D.
Morgan, U. 5. Senator from New York and the
Hon. Cakes Ames, Member of the Z. s. House Of
Representatives, Who are responsible for the de-
livery Of these bonds 10 the Company in strict ac
eordance with the terms Of the Law.
3.-THE LAND GRANT.
The Union Pacific Railroad COMPANY has
land grant or absolute aosafjoR from the govern
ment Of soc acres TO the mile on the Ire ofthe
Of the road which viii not be worth less than
$50 per acre At the lowest valuation
A-THE CAPITAL STOCK.
The authorized capital Of the Union Pacific
Railroad Company is SI00, 600 geo, Of which over
S5,e0og ge0,o00 have been paid on the work already
done.
THE MEANS SUFFICIENT TO BUILD TIE
ROAD.
Contracts for the entire work Of the building
81 miles Of fTst-class railroad west FROM Omaha,
comprising much of The most difficult mountain
work. and embracing every expense except sur
Veying, have been made with responsible par
ties (wh0 have already finished over 500 miIes}.
at the average rate OF sixty eight thousand and
dfty eight dollars SIS. .05sJ per mile. This price
inclndes all necessary shops fer construction and
repairs Of cars, Gepots, stations and al other in
cidental buildings, and also locomotives, passeu-
ger, baggage, and freight ears and other requisite
rolling stock 10 an amount that shaI not be less
than S5,0e0 Per mile. Allowing the cost Of the
remaining one hundred and eighty-six Of the
eleven hund.ed miles assumed 10 be built By the
Pacific Company 70 be S2o,o00 per mile.
THE TOTAL COST OF ELEVEN HUNDRED
MILES WILL BE as FOLLOWS:
81 miles az SIS g5s .s62 205,0I2
ISG miles at Ss0 900 z Al, GOO
Add discounts on bends surveys, Ge....4, SOC, ,0o0
Amount. 4I5,0I2
As The C. s. Bonds are equal 70 money, and the
Company's own FIRST Mortgage Bonds have a
ready market We have as the
AVAILABLE CASH RESOURCES FOR
BUILDING ELEVEN HUNDRED MILES:
U. 5. Bonds .52S goC
First Mortgage Bonds 2, SOS 900
Capital stock paid IN the work now
done .--.-. ......... ,369 $50
Land Grant, i,es0,9 acres, AT 5, so
per p ,l2o, 600
Total SIS, l45, 750
The company have ample facilities for supply
[ iuc any deficiency that msy arise in means for
construction. This may be done wholly or IN
part by additional subscriptions TO capital stock
Active inquiry has already been made for a
portion Of these lands, and gements are now
proposed 20 oFer a part Of them for sale. While
their whole value VIII not be available for some
/ years % come, they vii remain very important
source Of revenue 10 the Company. The lands OF
the Illinois Central Railroad Company are sci
ling at from s. 70 So per acre, and ether land
! grant companies in the West are receiving equal
/ prices for similar properties
/ FUTURE BUSINESS.
/ The most skeptieal have never expressed a
doubt that when the Union Paeisc Railroad is
/ finished the immense business thar must f0W over
( il as the only railroad connecting the two grand
/ divisions Of ;he North American continent, viii
be one Of the wonders Of railway transportation
/ and as il viii have no competitor it can always
/ charge remunersted rates
EARNINGS FROM WAY BUSINESS
I During the quarter ending July 81. an average
/ Of 3z5 miles Of the Union Pacific Railroad was
! in operation. The SuperiHteRdent's Report shows
/ the following result;
/ EARNINGS.
/ Passengers, Freight, Telegraph and
Mails .... S723,755 81
/ Transportation Of Contractors Mate
rials and 4T9,2s3 Al
/ EXPENSES.
FUel, Repairs, ofiees Conductors,
Trains, SS85, ,j50 "
NEr EARSINGs 70 balanee.-...-........ S07, SOS o.
IOtal--..---- -.-..s sZV5,oSo -
/ The uet operating expenses On the commercial
business for the quarter we're S237,966 so. The
account for the COMMERCIAL BUSINESS
/ stands as follows:
Earnings for May, June and Jaly 81
/ Expenses ..-...-...--.-. 257y9o6 81
Net PROFIT. ....-.-s4s5, 1S9 o.
The amount Of Bonds the Company can issue OF
325 miles, ST 6,o00 per mile, is S5,200. COO In
terest in gold three months, at per cent on thi
sum, Is SIS zoo; add 40 per cent premium, to cor
/ respond with currency earnings, is Si09, zoe
/ showing that the net earnings for this quarter
were more fhgA toay tses the interest on the First
Mortgage Bonds on this length Of road
FIRST MORTGAGE BONDS,
whose principal is SO amply provided for, an,
/ whose interest Is SO thoroughly secured, must b