Daily Ohio statesman. [volume] (Columbus, Ohio) 1855-1870, 1867-07-10

the remaining portion to the eastern base of the
Rocky Mountains. 14l miles. which is under con-
tract to be done in September of this ar aud it is
expected that the entire road will be in running order
from Omaha toits western connection with the Gem
trail Pacific, being rapidly built eastward from
Sacramento, Cal, during 1870.
ia MEANS OF THE COMPANY. ,soa
Estimating the distance to be built by the Union
Pacific to be 1855 mile the United States Govern
ment issus its Six per cent Thirty ear Bonds to
the Cor pany as the road is finished at the average
rate of about $es $50 per mile. amounting to s4I-
2Os 900. ~ u ln - 7f-.G ,la
The Company is also permitted TO issue its own
First Mortgage Bonds to equal amount, and at
the same time, which by recia Act of Cong ess
made First Mortgage on the entire line, the bonds
of the United States being subordindtet to them.
The Government makes donation of 12 800 acr
of land to the mile. amounting to os2 600 acres
estimated to be worth $50 900 O00 making the total
resources exclusive of the capital $Ils 900; but
the full value of tn lands cannot now be realized
The authorized Capital Stock of the Company is
one hundred million dollars, of which five millions
have alresdy been paid in. and of which it is not
supposed that more than twenty-five millions at
most will be required.
The cost of the road is estimated by competent
en9inesrs to be about one hundred million dollars
exclusive of equipment. -.. ... 81.
PROSPECTS FOR BU'IHESS. h
The railroad connection between Omaha and the
East is complete. and the earnings of the Union
Pacific the sections already finished for the first
two weeks in May were $4,000. These sectional
earnings the road progresses will much than
pay the interest on the CoDpany's bonds, and the
through business the only line of railro ID be-
tween the Atlantic and Pacific must be immense.
VALUE AND SCI URITY OF THE BONDS.
The Conn any respectfully submit, that the above
statement of facts fully demonstrates the security
of their Bonds, and additional proof they would
suggest that the Bonds offered less than
millions dollars on 5l7 mile of road on which over
twenty million dollars have already been expended
on $50 miles of this road the are now running.
and the remaining 1877 miles are nearly completed.
At the present rate of premium on gold these
bonds pay an annual interest the present cost of
NINE PER CENT, 1H
And it is believed that the completion of the road.
like the Government Bonds, they will go above par
Tne Company intend to sell but limited amount
at the present low rate, and retain the right to ad
vance the price at their option. g.
Subscriptions will be received in New York By
the
Continental National Bank, No NASSAU St.,
Clark. Dodge & Co. Bankers 81 Wall St.. 90
John ]. Cisco & Son, Fankers, No. 33 WalIsr,
AND BY
RICKLY & BRO, Columbus, Ohio,
And by BANKS and BANKERS generally through
out the United States, of whom Maps and Descrip-
tive Pamphlets may be obtained. They will also be
sent by mail from the Company's Office, No. 90 Mas
sau street, New York. on application. Subscribers
will select there Agents in whom they have
fdence. who alone will be responsible to them fo1
the safe delivery of the bonds. ~
JOHL J. CISCO, Treasurer,
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