The Portland daily press., 1867-08-05
Terms Eight Dollars per anaun,, IN, od,ouce

nuaJy travel by sea between the Atlant,,
ports and San Francisco; and these reckoned
at $50 each (about one half the steamer
price, would produce a revenue of S7.bOOOOO
The overland travel is even greater. in
single year, tloeRty-SeUen thousand teams
comprising vast number OF emigrants and
travellers, departed from two points only IN
the Missouri River on their westward jour
nGey II the truth of this statement was not
familiar to all frontiers men, Ii might well be
duestioned. But, estimating the overland
s,n sniousn travel at the same figures as that by
,,,,i ooearner, and we have $150O0,0O0 as the mini
NUN nun es'''ilate on the same number of pas
~ ts,si. , nuI tne facilities for cheap and rap
IA transit furnished by railroad alwavs vastly
increase the amount of travel with n. somS.
population. "''" '"e '"iie
The difference between the numbero nh,
would take an ocean steamer or a nra;r;o
wagon and modern palace-car, with It's Inv
urious state-rooms, where the traveller-eais and
sleeps almost as comfortably as at home. NAV
be as great as the difference between the num-
bers who were jolted over the mountains in
an old fashioned stage coach and those in an
Express Ilain between any two great Cities
Then, is it not safe to say that this through
travel will be at once doubled on the compile
tion Of the road in 1870, and, with the rap
id increase OF Pacific Coast population in the
next few years, more than quadrupled? Is it
at all extravagant to assert that the through
passenger business during the first year after
The first train OF cars runs from Omaha in Ne
braska to Sacramento, will be worth twenty
nve million dollars? When TO this we add
half as much more Tor its tvdy passenger bus
mess, and more than as muchtmore than both
Tor Its ireights, expresses and mails etc., are
there not the best reasons in the world for be-
lieving that that the Union Parifc Railroads
will be one oil the most profitable as well as
one OF the grandest works of modern times?
TIE SECURITY AND VALUE OF ITS BONDS.
We have made these calculations that the
public may have some brief data OF facts
from which to form their estimate of the
value of the Union Pacific Company's First
MORTGAGE Bonds. Besides, men of the great
est railroad experience in the country have
shown their confidence in the stock by lber-
al subscriptions, and this stock must be sub
ordinate to all other claims But there are
stronger proofs OF the security and value of
the First Mo rtgage Bonds than any we have
named:
1. That for the safety of the country as
well as national economy the road is inds-
pepsable.
2. That by an investment Of about fifty
millions in Second Mortgage on the road,
the Government practically guarantees the
principle and interest on the first mortgage.
The company now offers limited amount
Of its First Mortgage Bonds, bearing six per
cent. interest, payable semi-annually in coin,
at ninety per cent This interest, at the cur
rent rate of premium on gold Is equal TO nine
per cent. per annum on the price for which
they are now offered. The Company expects
to sell but small amount at this rate, when
the price will be raised, and like all similar
bonds they win finally rise to q premium
above their par value. The subscribers TO
this loan will not only have the advantages
of very liberal interest and very safe secur-
ty, but will also have the satisfaction of hav-
ing assisted in the greatest national work Of
the country.
*The price of freight by teams from the Mis-
souri, River was formerly twenty-five cents per
pound, or $500 per ton.