Delaware gazette. [volume] (Delaware, Ohio) 1855-1886, 1867-06-07

offered, as they are expaeted soon to
be at par.
The interest on the bonds is more
than provided for By the net earnings
of the various sectioTas of the road,
as they are completed. On the 30
miles on which the cars are now run
ming west from Omaha. the receipts
for the first two weeks in May we're
$4,000 and as the road is extended
towards the great mining eenters,s the
business in freight and passengers con-
stantly iucreases-and as there can be
no competition from rival roads, the
Company has full power to charge re-
muneratlve prices
PROSPECTS FOR FUTURE BUsTS Ess.
Itneeds no argument to show that
the trafie of the only railroad connect
ing the Atlantic and the Pacific, and
passing through the great mining re-
gion, must be immense.
Although our annual product OF the
precious metals is now officially es-
timated al 800, ,000, 600 per annunn, a
vastly greater sum viii be obtained as
soon as the Union Pacific Railroad
opens the way to the golden regions
Of the Rocky Mountains Now, the
difficulties and cost of communication
are SO great, that none but the very
richest veins can be worked but with
cheap transportation, hundreds OF thou
sands Of hardy miners will successful
~ develop other mines, that, with less
costly working, viii be even more
profitable than she average of those
now In operation aud the business
Of this constantly Increasing mining
interest must pass over this road
The records Of our shipping Offices
show that not less than 30, 600 passen-
gers now annually travel by sea be-
tween the Atlantic ports and San
francisco : and these Feckoned at $3.50
each (about one halt the steamer
price, would produce d revenue of
81 ,500,0 600.
The overland travel is even greater.
In single year, tleeafg- seUen thousand
teams comprising vast number Of
emigrants and travellers. departed from
two points only on the Missouri River
on their westward journey. Ii the
truth Of this statement was not famil-
lar to all frontier g. men, it might we'll
be questioned But, estimating the
overland through travel ct the same
figures as that by steamer, and we
have S16 100000 as the minimum es-
innate on the same number of passen-
gers. But the facilities for cheap and
rapid transit furnished by railroad al
Ways sst tly increases the amount of
trayG. IS th the same population. The
dItEeggn nee between the numbers who
would take an ocean steamer or a pra-
1rle wagon and a modern paiace-car,
with its luxurious state-rooms whore
the traveller eats and sleeps almost as
comfortably as at home, may be as
great as the difference between the
numbers who were j0lted over the
mountains iaan old-fashioned stage
coach and those in an Express train
between any two cities Then, is it
not safe to say that this THROUGH
travel will be at once doubled on the
completion of the road in 1870, and,
with the rapid increase Of Pacific
Coast population in the next few years
more than quadrupled Is it at all
extrayagant to assert that the THROUGH
PASSENGER BUSINESS during the first
year after the first train ct cars from
Omaha in Nebraska to Sacramento,
will be worth twenty-five million dol
lars When to this we add half as
much more for its a90y passenger bus
mess, and more than as much more
than both for its freights, expresses
and mails, etc, are there not the best
reasons in the world for believing that
the Union Pacific Railroad win Be 3ne
Of the most profitable as wen as one
of the grandest works of modern
times ]
THE SECURITY AND VALUE or 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 Railroad Company's First
Mortgage Bonds. Besides, men of the
greatest railroad experience in the
country have shown their confidence
In the stock by liberal subscriptions,
and this stock must be subordinate to
all other claims, But there are strong
er proofs Of the security and value of
the First Mortgage Bonds than any
we have named e
1. That for the safety Of the country
as well as national economy the road
is indispensable.
2. That by an investment of about
fifty millions in a Second Mortgage on
the road, the Government practically
guarantees the principal and interest
on the first Mortgage,
The Company now offer a limited
amount of its First Mortgage Bonds,
bearing six per cent. interest, payable
semi-annually il coin. at ninety per
cent, This interest, at the current
rate Of premium on gold is equal to
nine per cent. per annum on the price
for which they are now offered. The
Company expeersa to sell but a small
amount at this rate, when the price
will be raised, and like all similar
bonds they will finally rise to a pre-
MUM above their par value The
subscribers to this loan will not only
have the advantages of very liberal
interest and very safe security. but win
also have the satisfaction of having
assisted in the construction of the
greatest national work of the country.
The. price of freight by teams from the
NJ issourt River was formerly twenty-five
cents per pound, or $500 per ton.
An INTERESTING DIsCovERY.-The