The Portland daily press., 1867-07-31

RAILROAD 90.
rrl Are now constructing Railroad from
OMAHA, NEBRASKA, ,.f.
westward Stewards the Pacific Ocean, making wit
its connections an unbroken line
ACROSS TEaE CONTINENT.
The Company now offer limited amount of their
FIRST MORTGAGE BONDS
having thirty years to run, and bearing annual in
terest, payable ON the first day Of january and July
in the City of New York, at the rate Ct =
Six Per Cent. in Gold,
AT
Ninety Cents Ga, the Dollar.
This road is already completed to j uesburg three
hundred scventysix miles west Omaha and is fully
equipped, and trains are regularly running over it,
The company has now on hand sufficient iron, ties,
etc., TO finish the remaining portion to the eastern
base OF the Rocky Mountains, 2l2 miles, which is
under contract to be done September LIST OF this
year. and 1t Is expected that the entire road viii be
IN running order from Omaha to its western connec.
ton with the Central Pacific, now being rapidly
built eastward from Sacramento CAL, during 1870.
sa Means of the Company.
Estimating the distance to be built by the Union
Pacific to be 1865 miles, the United States Govern
ment issues its Six per cent. Tlirty-year bonds to
the Company as the road is finished at the average
rate Of about S2s,25O per mile, amounting to s44-
20S, 000 y ~ e ~ % ~ %@&@ -
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
maze FIRST Mortgage on the entire line the bonds
OF the United States being subordinate to Them e.
: The government makes donation of IL 500 acres
OF land to the mile, amounting to 20 0S2 900 acres
estimated to be worth S50,OoOOOO. making the tora
resources exclusive OF capital S1s 46,c0O; but
the iuli value OF the lands cannot be realized
The authorized Capital Stock of tie Company ia
one hundred million dollars, OF which five millions
nave already been paid in, and oil which it is moi
supposed that more than twenty-five millions at
most will be required. -,-rs....
i9 The cost of the road is estimated by competent
engineers to be about one hundred million dollars
exclusive of equipment. aiFFu
Prospects for Business.
The railroad connection between Omaha and the
East is now complete, and the earnings the Union
Pacific on the sections already finished for the first
two weeks in May were $4,000. Sag1ese sectional
earnings, as the road progresses, will much more
tnan pay the interest on the Company's bonds, and
the through business over the only line of railroad
between the Atlantic and Pacific must be immense.
Value and Security of the Bonds.
The Company respectfully submit that the above
statement of facts fully demonstrates the security
their Bonds, and additional proof they would sug-
gest that the Bonds now offered are less than ten
million dollars on 517 miles OF road on which over
twenty million dollars have already been expended;
on $50 miles of this road the cars are now running
and the remaining 1877 miles are nearly completed.
At tie present rate of premium on gold these.
bonds pay an annual interest the present cost
r. Nine Per Cent, a8
anu IL IS believed that ON the completion of the road
like the Government bonds, they will 90 above par
Tue Company intend to sell but limited amount at
the present low rate and retain the right to advance
the price at their option. tsFsfe f8Tt es
Subscriptions will be received in New York by the
CONTINENTAL NATIONAL BANK No Z, Nassau St.
CLARK, DODGE d Co., BANKERS, 81 Wall St.,
JOHN j CISCO & SoN, BANKERS No. SO, Wall St
and by BANKS AND BANKERS generally
throughout the United States, OF whom maps and
descriptive pamphlets may lie obtained. They
viii also be sentby mail from the Company's office,
No. 20 Nassau street, New York, on application
Subscribers will select their own Agents in whom
they have confidence, who alone win be responsible
TO them for the safe delivery OF the bonds.
JOHN J. CISCO, Treasurer, :.
(. w. H, WOOD & SON, are agents for the sale of
the above bonds In this city, juue31,SW3m