Rutland weekly herald. [volume] (Rutland, Vt.) 1859-1877, 1867-12-05

paid on the work already done.
THE MEANS SUFFICIENT TO BUILD THE
ROAD.
Contracts for the entire work Of building 9l4
miles of irst-Class railroad west from Omaha,
comprising much of the most difficult mountain
work, and embracing every expense excep sur
veying, have been made with responsible par
ties (Who have already finished over 500 miles,
at the average rate OF sixty eight THOUSAND and
ffty-eight dollars (s6S05S) per mile. ThispriCe
and repairs of cars, depots, stations and all
other Incidental buildings, and also locomo-
tives, passenger, baggage, and freight cara and
other requisite rolling-stock, to an amount that
shall not be less than 5000 per mile. Allowing
the cost Of the remaining one hundred and
eighty. six of the eleven hundred miles assumed
to be built by the Pacific Company to beS9O,-
600 per mile.
The total cost of eleven hundred miles will
be as follows:
914 miles, at S6S05S So, ,Ol2
1856 miles, at $4,000, l6,T3 600
Add discounts on bonds, surveys, &C, 4,5O,OOO
Amount, sS3,445,OI2
AS the U. S. Bonds are equal to money, and
the Company own First Mortgage Bonds have
a ready market, we have as the available cash
resources fer building eleven hundred miles
U s. Bonds, 500 SOS. 900
First Mortgage Bonds, 90 SIS, 900
Capital stock paid in on the work
new done, 5,86s,75O
per acre, 21,12O,O0O
Total, s85,145,7 5O
The company have ample facilities for sup
plying any deficiency that may 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
portion of these lands, and arrangements are
now proposed to offer q part of them for sale.
While their whole value will not be available
for some years to come, they will remain very
important source of revenue to ihe Company.
The lands Of the Illinois Central Railroad Com
pany are selling at from Sc to $12 per acre, and
other land grant companies in the West are re-
ceiviHg equal prices for similar properties.
FUTURE BUsNEss.-The most skeptical have
never expressed doubt that when the Unisn
Pacific Railroad is finished the immense bust
ness that must flow over it, as the only railroad
connecting the two grand divisions of the North
American continent, will be one of the wonders
of railway transportation; and as it will have
no competitor 1t can always charge remunera-
tive rates. The Pacific Mail Steamship Com
pany OF New York is now running a regular
line of its splendid steamers between San Fran
cisco and China and Japan, which is doubtless
the pioneer of other lines, that will traverse
the Pacific Ocean laden with the teas, spices
and other products OF Eastern Asia. Excepting
some very heavy or bulky articles of COMPARE.
lively low values, shortness of tine decides the
direction of freights and most of these cargoes
Will find their natural transit over the Union
Pacific Railroad.
It is quite within bounds to say hat its traffic
will be limited only by the capacity of the line,
and that no other ROAD will find double track
so neCess ary. California and Oregon must not
only be supplied with means of transport for
Its passengers mail, treasure and other reights,
fYfkf gTRno nah M
Idaho and Montana will communicate with the
older states almost entirely by this road. 1t
will be the avenue to all the great mining dis
trlst, which is only awaiting thiI ready means
OF Communication to receive population that
will develop its vast mineral and other re-
sources and which of itself wouldfurnish ample
business for railway line.
EARNINGS FROM WAY BUsINEss.-While the
through business Of the Companywill be amply
remunerative, it is still in the future Aut The
local business on the part of the road in opera
ton has been most satisfactory.
During the quarter ending July3i, an average
of 325 miles of the Union Pacific Railroad was
in operation: The Superintendent Report
shows the following result:
EARNINGS
Passengers, Freight, Telegraph aid
Mails, ST23. 7s5 IA
Transportation of Contractors Ma. "''''' VI
terials and Men, 479,2s3 ii
Total, $1,2O3,oS8 95
F1el, Repairs, Offices, Conductors,
!. Trains, &c, s2o5 s9n %
Net Earnings to balance. ' S0Y'SSS % "a
Total, a a0a o38 OK
The net operating expenses on the CONNER
cal business for the quarter were s237 966 so
The account for the Commercial Business stands
as follows: S
Earnings for May June and July, s7s8zss 81
Net Profit, s.os 700 ~
me amount of Bonds the Company can issue
on 80 miles, at $4,000 per mile, is rs 200 coo
interest In gold, three months at tper cent on
thls sum, Is $4,000; add 20 per cent nreminm
70 correspond with currency earnings ia sf0a,
19s-showing that the net earnings for this
quarter were more than four times the interest
road. N S "a Vi
First Mortgsge Bonds, whose principal is 90
aLnPIy PROVIDED ior, and whose interest ia so
thoroughly secured, must be classed among the
safest Investments. They pay six per cent in
golo, ano are offered for the present at Ninety
cents on the dollar, and accrued interest at siy
per cent. IN currency from July I,
MANY parties are taking advantage of the
present hlgn price of Government stocks to az.
change Tor these Bonds, which are over Fifteen
per cent. cheaper, and, at the current rate of
premium on gold pay over nine per cent. inter
est. '' AN'e'-
Subscriptions will be received in Rutland nv
s. W. POWELL, Cashier National BanI Of Rn;y.
land; HENRY Z. FIELD, Cashier Rutland
county National Bank, and In New York al The
company oHee, No. % Sasssr street, and by