Daily Ohio statesman. [volume] (Columbus, Ohio) 1855-1870, 1867-07-13
NINETY CENTS ON THE DOLLAR.

81. NINETY CENTS ON THE DOLLAR. 10
This road is slre.dy completed to Julesburs. 80
mile; west of Omaha. and is fully equipped. and
trains regularly running over it. The Company
has now hand sufficient iron. ties, etc.. finish
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 and it is
expected that the entire road will be in running order
from Omaha toiis western connection with the Gem
trail Pacific, now being rapidly built eastward from
Sacramsnto, CAL. during 1870. Il. rsai5- is.ssf|
'1hao7 MEANS OF THE COMPANY. 81 ltai
Estimating the distance to be built by the Union
Pacific to be 1,565 mile the United States Govern
ment issus its Six per cent Thirty-,ear Bonds to
the Go pany as the road is finished at the average
rate of about $2s $50 per mile. amounting to $44,
2Oe 900. - 7I-3- ~ 7s.t - as4
The Company is also permitted 10 issue its own
First MORTGAGE Bonds to an equal amount and at
the time, which by srecial Act of Cong ess are
made FIST Nor gage the entiFe Iine, the bonds
Of the United States being su6ordiadtsto to them.
The Government makes donation of Is. 500 acr
of land to the mile. amounting to 2ooS30oo acres.
estimated to be worth $50 900 OOo making the total
resources, exclusive of the capital Sis 4l6 ooo 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 Eve millions
have already been paid in. and of which it is not
most will be required. \! 4.ul. 81 4..r.
The cost of the road is estimated by competent
en- inesrs to be about one hundred million dollars
exclusive of equipment. $40 .sf4 sa f....i-f.F-
PROSPECTS FOR BUSINESS. ui
Tbs railroad connection between Omaha and the
East is now complete and the earnings of the Union
Pacific the sections already finished for the first
two weeks in May were $4,000. These sectior al
earnings as the road progresses will much more than
pay the interest on The Company's bonds, and the
through business the only line of railro be-
tween the Atlantic and Pacific must be immense.
VALUE AND Sc URITY OF THE BONDS.
The Conn any respectfully submit. that the above
statement of facts fully demonstrates the security
suggest thatthe Bonds offered are less than ten
millions dollars 517 miles of road on which
twenty million dollars have already been expended:
-on $50 miles of this road the now running,
and the remaining 1s7 miles are nearly completed
At the present rate of premium on gold these
bonds pay annual interest the present cost Of
NINE PER CENT,
And it is believed that the completion of the road
like the Government Bonds. they will go above par
Tee Company intend to sell but limited amount
at the ent low rate, and retain the right to ad
vance the price at their option. -....-. .--.
Subscriptions will be received in New York by
the --.r ....,...- t ..-.-
Continental National Bank, No Nassau St.,
Clark. Dodge & Co. Bankers 81 Wall St..
John ]. Cisco & Son, fankers, No. SO WaIlsI.,
-.. AND BY -.
RICKLY & BRO, Columbus, Ohio,
And by BANK s and BANKERS generally through
out the United States. of whom Maps and Descrip-
tive Pamphlets may be obtsined. They will also be
sent by mail from the Company's Office. No 90 Mas
sau street, New York. on application. Sub=cribers
will select there own Agents in whom they have con-
fdence. who alone will be responsible to them for
the safe delivery of the bonds.
JOHL }. CISCO, Treasurer,
New 1oRK.
vSo-daw3m-ins-r ---..-. - -