The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1867-06-17

-
RAILROAD co.
Are now constructing Railroad from III
as-7g sIs.s OMAHA, sNEBRASKA,o m,il s''
westward towards the Pacific Ocean, making wit {
its connections unbroken line 60 .siaisb4 e
ACROSS TIE CONTINENT. 5a -
The Company now offer limited amount of their
FIRST MORTGAGE BONDS
having tirty years to run, and bearing annual in
terest, pay able On the first day Of january July,
in the city OF New York, at the rate Ct
Six Per Cent. in Gold,
AT III unss.
Ninety Cents Osl the Dollar. Ieo
( This road was completed from Omaha sos miles
west, on the LIST of January, 1867, and is fully
equipped, and trains are regularly running over it,
The company has now on hand sufficient iron, tics,
ETC., to finish the remaining portion to the eastern
base OF the hocky Noun ains, 212 miles, which is
under contract to be done September LIST OF this
year, and il il expected that tile entire road Will lie
in running order from Omaha to its western connec
ton with the Central Pacific, now being rapidly
built eastward from Sacramento, Cal, during 1870
- Means of The Company. a.i.
Estimating the distance to be built by the Union
Pacific to be ,565 miles, the United States Govern
ment issues its Six per cent Thrty-year bonds to
the Company as the road is finished at the average
rate of about $2s,25O per mile, amounting to $l4-
2Os, GOO. 'i+I1''-V-'
The Company is also permitted to issue its own
First Mortgage Bonds 10 an equal amount. and at
the time, which by special Act OF Congress are
made First Mortgage on the entire line, the bonds
of the United States being Subordinate TO them. y
The Government makes donation of 10 500 acres
OF land the mile amounting to %, 900 acres,
estimated to be worth S30, 900 making the tota
resources exclusive of the capital Sis 4i6,Ooo but
the full value OF tile lands cannot now be realized.
The authorized Capital Stock of the Company is
one hundred million dollars of which five millions
| have already been paid ill., and OF which it is not
supposed that more than twenty-five millions at
! most will be required. il.lIri
| The cost of tho road is estimated by competent
engineers to be about one hundred million dollars
| exclusive OF equipment. tco 4t laCi.,---li .lils
l9 Prospects for Business. ra-.,.
The railroad connection between Omaha and the
East is complete, and the earnings of the Union
Pacific the sections already finished for the first
| two weeks in May were ali3, 90O These sectional
| earnings, as the road progresses, will much more
| tndll pay Tie interest On tne ConipdnyS pUnus,
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 Bcnds 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 oveI
twenty million dollars have already been expended
| on $50 miles of this road the now running
and the remaining 1877 miles nearly completed.
| At the present rate OF premium on gold these
bonds pay an annual interest the present cost o
Nine Per Cesit., szssi i3a
and 1t is believed that the completion Of the road
| The Company intend to sell but limited amount a
the present low rate, and retain the right to advance
The price at their option. aalsjau
Subscriptions will be received in New York by tn
CONTINENTAL NATIONAL BANK, No T. Nassau st.
CLARK, DODGE u Co., BANKERS, 81 Wall ST.,
JOHN j CISCO g. Son, BANKERS. No. 80, Wall S
and by BANKS AND BANKERS general,
throughout the United States, OF whom mans an,
descriptive pamphlets may lie obtained The!
viii also be sent by mail from the companys office
No. 20 Nassau street, New Yolk, on application
Subscribers will select their own Agents IN whom
they have confidence, who alone will be responsible
10 them for the safe delivery of the bonds.
JOHN j. DISCO, Treasurer,
june3d&w3m NEW YORK.